In Salta, there is an area that Americans fell in love with; A closed neighbourhood was built there where many foreigners choose to live, even permanently.
Cafayate is a place that conquers any Argentine who visits it and also captivates citizens of the United States . Surrounded by multicoloured mountains, it is located in the heart of the Calchaquíes Valleys, 192 kilometres from Salta.
In 2005, a real estate project began to take shape near this town. La Estancia de Cafayate is a gated community located on National Route 40. It offers 360 days of sunshine a year, which attracts Argentines and foreign investors.
Juan Carlos Romero was governor of Salta for three consecutive terms and is currently a province senator. In addition to his work in politics, he had his own land in Cafayate, which he did not know that years later, it would become one of the countries that would form a community with international residents. More than 20 years ago, he met Doug Casey, an American investor who had also bought land in this town. After a conversation, they realized that their land was next to each other and decided to join together to launch this development together.
“The ranch was nothing more than land. The man from Salta did not believe that what exists today would be built,” says Diane Klingesmit, Romero’s daughter-in-law, with her markedly foreign tone, who was part of the promotional group that made the project known in the United States and who currently also lives in the neighbourhood.
“For a long time there were no Argentines, but only American people,” says Candelaria Patrón, who was part of the team that marketed the project in Argentina in its beginnings. She adds, “The foreigner who stayed fell in love with the place.” Today, the proposal has become better known in Argentina, and the owners are 50% foreigners and the other half Argentines.
Currently, 140 houses have been built in the neighbourhood. Although the place is not used as a permanent home but rather as a weekend home, “there are 20 families that live permanently there, of which 15 are from other countries,” says Rodrigo Marcuzzi, the neighbourhood’s developer. 95% of the foreigners are Americans, but some Australians, English and French also reside. The Argentines who own a home there are mostly from Salta and Tucumán, although some owners are also from Buenos Aires.
With an estimated investment of US$40 million over time, the neighbourhood has a size of 550 hectares. Upon entering the site, you travel along an undulating path with 150 lots that have not yet been worked. Once inside, the neighbourhood offers another 400, between 2,000 m² and 4,000 m², which can overlook a vineyard in its garden. Of these already worked, “between 30 and 40 are still sold, for an average ticket of US$ 100,000,” says Marcuzzi. In addition, he adds that there are always resales.
The houses in the neighbourhood are built in a similar style, with rural Spanish colonial architecture, which gives the place a unique identity. The homes follow a specific regulation, with the possibility of variation, within a framework that establishes certain provisions.
The neighbourhood also has a hotel from the international chain called Grace, “a group of luxury boutique hotels located in different paradisiacal destinations around the world,” adds Patrón. La Estancia offers its own wine label, which is produced with grapes grown in vineyards and distributed throughout the neighborhood.
FUENTE: La Nacion
Inversión Inmobiliaria
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