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Why the dollar rental market in Buenos Aires City has fallen: how much apartments cost, neighborhood by neighborhood - Infobae
Source:
www.infobae.com
March 26, 2025
Despite the decline in dollarized supply, average rental prices rose 26.7% year-over-year. Demand in this rental segment remains strong, concentrated in well-located units with high standards.
By Jose Luis Cieri
Proposals for renting in dollars have decreased in CABA, although a high percentage remains after the DNU (Illustrative Image Infobae)
The dollar rental market in the city of Buenos Aires has experienced a significant shift in recent months, contrasting with the reality at the end of 2023 when the limited supply of 5,000 apartments was 95% dollarized .
According to a survey by Zonaprop, the number of listings published in foreign currency decreased by approximately 35% compared to the volume recorded in 2023. Currently, the portal displays approximately 14,000 apartments as part of the offer, of which approximately 65% are published in pesos.
This drop in dollarized supply coincides with a sustained rise in prices, which rose 6.9% in the first two months of 2025 and have accumulated a 26.7% increase over the last twelve months.
"The 26.7% adjustment in dollars is due to the rise in the exchange rate and the need for property owners to preserve value in a context of persistent inflation. The exchange rate stability did not prevent the price per square meter from continuing to adjust," explained Lisandro Cuello , a real estate market expert.
Starting in October 2024, prices expressed in dollars began to rise progressively in all areas of the city. The current average price for an apartment in Buenos Aires City reaches USD 707 per month. The northern corridor has the most expensive units, with an average of USD 859. However, it is the area that showed the smallest year-over-year variation: 21.86% above the level recorded in February 2024.
In contrast, the central axis showed the largest year-over-year increase, with a 34.88% adjustment, although it retains the lowest average values in the market.
Ariel Champanier , CEO of RE/MAX Premium Argentina, downplayed the magnitude of the increase in closing prices in dollars. “We observed a minimal increase in actual closing prices. That figure (26.7%) may reflect what some owners are posting, but not what is ultimately realized. There was a slight adjustment in dollars, driven by the inflationary context in that currency and the weaker performance of the peso in recent months. This led several owners to update their prices to avoid losses against the dollar,” he noted.
Dollar-denominated contracts often attract tenants with foreign currency income (young people who come to telework for other international companies or university students) or those looking for properties in premium areas. Many of these tenants are expatriates, executives, diplomats, or residents with a corporate profile.
There are also investors who rent temporarily while they decide on a purchase. They prioritize neighborhoods with good access to transportation such as the subway and Metrobus.
Among the most affordable neighborhoods are Balvanera, at USD 704; San Nicolás, at USD 710; and Caballito, at USD 733 per month.
Leandro Molina , director of Grupo QuintoAndar (which owns Zonaprop) for Latin America, explained that this greater flexibility, along with the beginning of a slowdown in inflation in pesos, led many owners to stop listing their apartments in dollars. "Several owners who initially listed their apartments in dollars for fear of losing out on inflation began offering them in pesos. As a result, there was a reduction in the percentage of listings in dollars," he noted.
Molina also clarified why the most expensive areas show smaller adjustments: “Generally, neighborhoods with higher prices tend to have smaller year-over-year variations. These areas already had high values, so they didn't have to make abrupt adjustments to reach market prices. In contrast, areas with lower values did have to make significant adjustments to validate the new values.”
The current scenario reflects a reorganization of supply. Some properties previously listed in dollars returned to the traditional peso market. At the same time, hundreds of owners opted to sign more flexible contracts, outside the previous formal arrangements. This adaptation sought to restore the sector's dynamic after years of regulation that discouraged supply.
Champanier also spoke about the positive impact of the repeal of the Rental Law. “The liberalization of the market brought with it a significant increase in the number of available properties. This increased supply was key to keeping prices from skyrocketing. Many units returned to the market, which helped contain prices,” he explained.
The drop in dollar supply does not imply a general market contraction. On the contrary, the total volume of rental properties grew after the end of the previous regulation.
A two-bedroom apartment in Puerto Madero, the most expensive neighborhood to rent and buy in Buenos Aires.
However, the reconfiguration of the contractual modality caused a shift from publications in foreign currency to other alternatives, both in pesos and in temporary formats.
As long as exchange rate stability remains and owners see room to recover profitability with less risk, the trend toward dollarizing part of contracts could continue in specific segments, but without returning to previous levels. The possibility of more freely agreeing on terms, coupled with the proliferation of new contracts, has consolidated a more diverse system, where dollar prices now occupy a minority but influential position.
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Source:
Por qué cayó la oferta de alquileres en dólares en CABA: cuánto valen los departamentos, barrio por barrio
A pesar de la baja en la oferta dolarizada, los valores promedio subieron 26,7% interanual. La demanda en ese segmento de alquileres se mantiene activa, concentrada en unidades bien ubicadas y con estándares altos
www.infobae.com
March 26, 2025
Despite the decline in dollarized supply, average rental prices rose 26.7% year-over-year. Demand in this rental segment remains strong, concentrated in well-located units with high standards.
By Jose Luis Cieri
Proposals for renting in dollars have decreased in CABA, although a high percentage remains after the DNU (Illustrative Image Infobae)
The dollar rental market in the city of Buenos Aires has experienced a significant shift in recent months, contrasting with the reality at the end of 2023 when the limited supply of 5,000 apartments was 95% dollarized .
According to a survey by Zonaprop, the number of listings published in foreign currency decreased by approximately 35% compared to the volume recorded in 2023. Currently, the portal displays approximately 14,000 apartments as part of the offer, of which approximately 65% are published in pesos.
This drop in dollarized supply coincides with a sustained rise in prices, which rose 6.9% in the first two months of 2025 and have accumulated a 26.7% increase over the last twelve months.
"The 26.7% adjustment in dollars is due to the rise in the exchange rate and the need for property owners to preserve value in a context of persistent inflation. The exchange rate stability did not prevent the price per square meter from continuing to adjust," explained Lisandro Cuello , a real estate market expert.
Starting in October 2024, prices expressed in dollars began to rise progressively in all areas of the city. The current average price for an apartment in Buenos Aires City reaches USD 707 per month. The northern corridor has the most expensive units, with an average of USD 859. However, it is the area that showed the smallest year-over-year variation: 21.86% above the level recorded in February 2024.
In contrast, the central axis showed the largest year-over-year increase, with a 34.88% adjustment, although it retains the lowest average values in the market.
Ariel Champanier , CEO of RE/MAX Premium Argentina, downplayed the magnitude of the increase in closing prices in dollars. “We observed a minimal increase in actual closing prices. That figure (26.7%) may reflect what some owners are posting, but not what is ultimately realized. There was a slight adjustment in dollars, driven by the inflationary context in that currency and the weaker performance of the peso in recent months. This led several owners to update their prices to avoid losses against the dollar,” he noted.
Dollar-denominated contracts often attract tenants with foreign currency income (young people who come to telework for other international companies or university students) or those looking for properties in premium areas. Many of these tenants are expatriates, executives, diplomats, or residents with a corporate profile.
There are also investors who rent temporarily while they decide on a purchase. They prioritize neighborhoods with good access to transportation such as the subway and Metrobus.
Ups and downs
Puerto Madero leads the ranking of neighborhoods with the highest rents, with an average price of USD 1,487 per month. It is followed by Colegiales, with USD 1,250; Palermo, with USD 962; and Belgrano, with USD 910 per month.Among the most affordable neighborhoods are Balvanera, at USD 704; San Nicolás, at USD 710; and Caballito, at USD 733 per month.
Other factors
The repeal of the Rental Law marked a turning point. Since December 2023, following the DNU, the rental market has undergone a restructuring process. Contracts began to be established under direct agreements between landlords and tenants, with the freedom to set the currency and payment deadlines ( although 90% remain in pesos ).Leandro Molina , director of Grupo QuintoAndar (which owns Zonaprop) for Latin America, explained that this greater flexibility, along with the beginning of a slowdown in inflation in pesos, led many owners to stop listing their apartments in dollars. "Several owners who initially listed their apartments in dollars for fear of losing out on inflation began offering them in pesos. As a result, there was a reduction in the percentage of listings in dollars," he noted.
Molina also clarified why the most expensive areas show smaller adjustments: “Generally, neighborhoods with higher prices tend to have smaller year-over-year variations. These areas already had high values, so they didn't have to make abrupt adjustments to reach market prices. In contrast, areas with lower values did have to make significant adjustments to validate the new values.”
The current scenario reflects a reorganization of supply. Some properties previously listed in dollars returned to the traditional peso market. At the same time, hundreds of owners opted to sign more flexible contracts, outside the previous formal arrangements. This adaptation sought to restore the sector's dynamic after years of regulation that discouraged supply.
Champanier also spoke about the positive impact of the repeal of the Rental Law. “The liberalization of the market brought with it a significant increase in the number of available properties. This increased supply was key to keeping prices from skyrocketing. Many units returned to the market, which helped contain prices,” he explained.
The drop in dollar supply does not imply a general market contraction. On the contrary, the total volume of rental properties grew after the end of the previous regulation.
A two-bedroom apartment in Puerto Madero, the most expensive neighborhood to rent and buy in Buenos Aires.
However, the reconfiguration of the contractual modality caused a shift from publications in foreign currency to other alternatives, both in pesos and in temporary formats.
As long as exchange rate stability remains and owners see room to recover profitability with less risk, the trend toward dollarizing part of contracts could continue in specific segments, but without returning to previous levels. The possibility of more freely agreeing on terms, coupled with the proliferation of new contracts, has consolidated a more diverse system, where dollar prices now occupy a minority but influential position.
By zones
Below are the average dollar values in neighborhoods where there are foreign currency offers, according to Zonaprop.- Puerto Madero: USD 1,487.
- Colegiales: USD 1,250.
- Palermo: USD 962.
- Belgrano: USD 910.
- Núñez: USD 903.
- Montserrat: USD 881.
- San Telmo: USD 848.
- Recoleta: USD 825.
- Villa Urquiza: USD 800.
- Chacarita: USD 789.
- Villa Crespo: USD 778.
- Almagro: USD 773.
- Villa Ortúzar: USD 764.
- Withdrawal: USD 756.
- Caballito: USD 732.
- San Nicolás: USD 710.
- Balvanera: USD 704.
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