VAT property tax in Buenos Aires as foreigner?

I want to purchase a house in Buenos Aires as a forienger. The only thing I'm confused by is VAT. Let's say if I purchase something at $100,000 and VAT is 21%. Then the total price would be around $120,000, right? Am I missing something here? This doesn't seem right and the price too high.

Here's a link to what I'm confused by: http://argentina.rica24.com/en/6-taxes-fees-argentina-real-e
state.html