Cost of living in Argentina

 

 

Although prices have gone up worldwide, but the devaluation of the Argentine Peso brought about the low cost of living in Argentina. In a nutshell, you can live a comfortable life for a monthly maximum of around US$900 if you get out of the city.

Living in Argentina are very reasonable for Westeners, who were previously living on dollars or the euro. Do note that prices in the metro areas are considerably higher.

The taxes are high in Argentina but expats will find it appealing that no income tax needs to be paid if you generate an income from abroad and transfer the funds to Argentina. 

It is advisable to set up an Argentinean bank account if you are staying for more than three months in Argentina. Common banks in the country include the Banco de La Nacion Argentina, the Banco de Cuyo, Santander, Citibank and HSBC. To open a bank account in Argentina, there are certain requirements to fulfill.

Banks will ask you to present your passport as well as your Documento Nacional de Identidad (DNI). Your CUIT number (business tax code) and your CUIL number (personal tax code) will be also be requested, along with your AFIP (social security number. Bank interest rates are usually between 4% - 8.25%.

Housing

The greatest asset of this South American country is its land, which totals an area of 2,766,890 kilometers. Expats will find cheap land in this country and there are currently no restrictions on foreigners buying real estate. Keep in mind that the business climate in Argentina is different from that in the US and Europe. If you are a foreigner, you are expected to pay cash for purchasing real estate.

Prices vary depending on the location.

  • If you are thinking of buying in a wine growing area like Mendoza or the suburbs of Buenos Aires, don't expect it to come cheap (approximately US$20,000 to US$25,000 per hectare).
  • A regular 1000 square foot apartment costs from approximately US$175,000 to US$200,000.

Renting in Argentina can be cost effective for expats but remember that most transactions are carried out in cash. The security deposit is equivalent to a month's rent.

Monthly rent estimates as follow:

  • A typical house with three bedrooms, three bathrooms with a pool and a yard in the northern suburbs of Buenos Aires: US$1200 to US$2500
  • One-bedroom flat with an attached bathroom: US$26 - US$329
  • A fully-furnished two-bedroom flat: US$173 - US$3464
  • A three-bedroom flat: US$649 - US$5000

Utilities

Living in an apartment in Buenos Aires will mean paying a monthly maintenance fee. Prices vary depending on the amenities of the building - from US$43 to US$173.

The market in ISP is in demand; a good connection will cost around US$3. Thus, electricity, cable and an internet package can cost you an average of US$70 monthly.

Food Consumption

Leaving a tip in Argentina is customary and calculating ten percent of the bill for service is the norm. 

  • A daily meal in the business district: US$4
  • A dinner for two in an Italian restaurant with wine and dessert: US$13
  • One Big Mac meal: US$0.60
  • A good quality bottle of wine: US$7

Health Insurance/Medical Expenses

Compared to the US, private health care is affordable in Argentina.

  • An insurance that includes foreign travel for a period of two months: est. US$165
  • A check-up with a doctor: US$17 - US$50

Transportation

Taking a bus is the cheapest and most popular mode of travel in Argentina. Expats looking for a guide to help them get around the area will find that Guia T is a helpful map in Buenos Aires that expats can use to check the entire bus route and the costs in the city.

Taking a cab is also affordable. Most of the taxi drivers are honest despite the rumors that they charge foreigners more. To put your mind at ease that you are paying the correct fare, use pre-arranged taxis.

Car rentals are also an option for expats who don’t plan to ship their car to Argentina. A passport and valid license is all that is needed in order to rent a car.

  • One inner city bus ticket: ARS $0.40 - ARS $0.60
  • A monthly ticket for public transport: ARS $20 - ARS $26.55
  • The cost of a litre of gas: ARS $1.30 - ARS $1.80

Expat Services in Argentina