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Archived Articles
Simeon Mitropolitski is a Canadian analyst, of Bulgarian origin, and a former syndicated columnist with the Bulgarian News Agency (BTA). He is the author of several hundred articles dealing with hot political and economic topics, both national and international.
He was part of the first group of Bulgarian intellectuals and students that began the opposition movement that finally put an end to the communist regime in this country in 1989, and in 1996-1997 participated in international observation teams during the elections in several Balkan countries - Romania, Albania and Bulgaria.
In 2002 Simeon and his family moved from Bulgaria to Canada where they live now in Montreal, province of Quebec. Simeon is a Master of Political Science from McGill University and a B.A. of Political Science and History.
Global Real Estate Project
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Argentina: Time for Brave HeartsArgentina, which name means the "silver country", a century ago was considered to be one of the most blessed and full of promise lands on the earth. People from Europe immigrated in mass attracted by its vast pastures and constitutional government. Argentina was part of the American dream, as were the United States or Canada. Where to go, to New York, Halifax, Buenos Aires or Montevideo was often decided at the last moment without knowing exactly what was the exact difference between these countries. Today this pattern isn't relevant. Argentina although considered among the semi-developed countries, is no longer a part of the American dream. Even if it still attracts some foreigners, mainly from the third world countries, its own citizens look at the rich countries with a mixture of jealousy and desire for a better life somewhere else. If only the natural resources decided the fate of the countries, then Argentina would be among the first group of developed nations given its vast territory. Indeed a hundred years ago when the economy was largely dependent on the land fertility, Argentina was among the most developed countries. With the introduction of new technologies, industrial and post-industrial, it began loosing its positions even if it remained a semi-developed nation with one of the highest living standards in South America. Right now this country leaves behind one of the hardest periods in its economic history, a period marked with financial earthquakes and international isolation. After devaluating its own currency almost 3 times since late 2001, it seems that the country has again regain its financial equilibrium. In fact the national currency peso has retaken 20% of its value against the US dollar since January 1st 2003 but this stronger position is perhaps due to the weak dollar than to the wise financial policy of Buenos Aires. The devaluation has brought down the US dollar denominated prices on the real estate market and it seems that the new wave of investors has entered the country trying to catch on the new opportunities expecting huge price increases of the properties. Right now the houses and the apartments even in the capital city are much cheaper compared to where they were 2-3 years ago when the peso was anchored to the US dollar. In the downtown the 2BR houses and apartments can be found for less than $100,000. In the suburbs the prices are 2-3 times lower. Without declaring this officially, the new government of Argentina is sticking to the past policy of strong peso, creating good opportunities for the foreign investors. One fact illustrates how big the capital gains in Argentina are these days: since January 1st the main stock index MerVal has gained nearly 39 percent. How many stock exchanges in the world could claim such profits? For how long time the government will maintain this policy, it's difficult to say but we have to remember that the last try lasted a decade before the peso was devaluated. So we shouldn't fear a sudden shift on the financial front in the months to come. The lack of fear in the short run shouldn't hide the long run alarms. The bigger the profits are today, the shortest will be the honeymoon and the swifter will be the downturn. So when entering this market, always think about the fire exits!
Argentina profile: --------------------
See also the directory of companies providing real estate services in, and general real estate information of Argentina.
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