CNET

The new iPhone 7 plus is being held in eager anticipation for Apple fans out there, but a hefty price tag might make you think twice if you’re looking to buy it locally. Although an official price is yet to be released (speculation puts the release date at April 7th)  it’s estimated to cost AR $30,000, equalling a whopping US $1,931.

What can 30,000 peso buy you in Buenos Aires? Two months rent for an entire flat on Airbnb in Villa Crespo, seven return flights to the world famous Iguazu Falls or three iPhone 6’s on Mercado Libre. For those on the monthly minimum wage of AR $ 6, 810 established in December it would mean saving up nearly four and half months worth of paychecks.

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Fear not, companies are offering payment plans. Retailers like Maxim Store for example is offering a 50 installment payment plan; so with monthly installments of 600 pesos you’ll be looking at just over 4 years of payments for a phone.

Argentina — the most expensive place to buy an iPhone

The cost of buying an iPhone in a retail setting in Argentina is among the highest in the world. Stores in Chile stock the device for USD $1,443 (AR $22,468). In England it will set you back a cool USD $1,154 (AR $17,971) while in the land of the buy one get one free the 7 comes in at a comparably humane price of USD $969 (AR$15,062). Ah ‘Murica. You do make it easy to spend money, don’t you?

Why so pricy in Argentina? The mammoth price tag largely linked to taxes. There is an 18 percent tariff plus 21 percent of VAT and another 21 percent of internal tax once the sale is finalized.

“There is a market that is willing to pay that price. Anyway, the biggest impact of the launch is not going to be the value, but it will be a case of what is The Argentine cost in tax terms. ” said Enrique Carrier, head of the consulting firm Carrier y Asociados.

The iPhone has been around since 2005, however in the last few years as the smart phone market has gotten more competitive, and iPhone production has been on the decline. For all you budding Apple heads out there here’s a comprehensive history of the iPhone. The latest model is estimated to hit shelves in September, so start saving.