Front Elevation: Untapped Utopia
Modestly priced acreage is leading world investors into the Patagonian wilds.
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The region’s low prices and natural beauty make it an easy sell, but a pressing question for North American buyers remains: Will the region’s political instability put their investment at risk? “Investing in a foreign country is never totally without risk. As for fears that the government is going to come along and confiscate foreign-owned property: No way, that’s just not going to happen in Argentina or Chile,” says Wells. “A lot of foreigners also express fears about kidnapping and riots. That’s something confined to Colombia and Venezuela. Down here it’s safe, peaceful and quiet. To tell you the truth, it’s like the 1920s.”For expatriates like Mike Morehart, a California native who owned a small ranch along Roaring Fork River near Aspen before moving to San Martin de los Andes several years ago, Patagonia’s serenity was reason enough to invest. “The future looks good here,” he says. “In many ways there are more freedoms than in the U.S., particularly when it comes to government controls over what you do with your land. In Colorado, I was always feeling pressure from a county planner or a government agency. Here, you pretty much do what you want to do. It’s a great way to live.”
Fuller Western Real Estate/Austral Realty
Ken Mirr, 303.312.4271;
Jeff Wells, 303.888.9785; www.fullerwestern.com
