Summary
Yes, but barely. Buenos Aires signed 41,583 sale deeds from January to August 2026, 2.3% fewer than a year earlier, and dollar prices are flat: the market is busy, not booming.
The boom phase is over. Deeds were up 45.3% year on year in the first seven months of 2025; by July 2026 they were down 9%, and August's 6,055 deeds were 4.9% below August 2025, though still among the five best Augusts in 28 years.
Asking prices barely move. Zonaprop puts Buenos Aires at USD 2,484 per m² in September 2026, up only 1.4% since January and still 11.3% below its old peak.
Real deals are flatter still. Used apartments closed at USD 2,097 per m² in September 2026, 0.4% less than a year earlier, and buyers got about 4.75% off the last asking price.
Argentina runs at several speeds. Rosario asking prices were up 9% in a year by May 2026 and Córdoba about 11% by March, while western Greater Buenos Aires gained just 0.1% in 2026.
Mortgages are the weak spot. Banks granted 14,237 home loans from January to July 2026, 43% fewer than a year earlier, and only 14.8% of Buenos Aires deeds used one.
That is why sales held up: most buyers pay cash. It also caps growth, because fewer middle-income households can buy without credit.
Rents still rise in pesos but lose to inflation: a two-room Buenos Aires flat asked ARS 898,154 a month in September 2026, up 28.7% in a year against 33.4% inflation.
Yields are fair: 5.70% gross in Buenos Aires, 7.44% in southern Greater Buenos Aires and 7.80% in Córdoba, before the 21% of gross rent a foreign landlord may owe.
No building boom either. Construction activity was down 4.4% year on year in August 2026, while building costs in dollars rose 18.5% in Buenos Aires since January against 1.4% for prices.
The strong peso is the 2026 twist: the dollar rose about 4.9% this year while consumer prices rose about 23.6%, so owning in Argentina costs more in dollars.
New mortgage money is coming: the state pension fund auctioned ARS 200 billion to banks in September and again in October 2026, but foreigners with only foreign income have no confirmed access.
Bottom line: no bubble and no crash. Expect high sales, flat Buenos Aires prices and better gains in a few regional cities unless cheaper mortgages return at scale.
How many homes are selling in Buenos Aires in 2026?
Still a lot, but no longer more than last year. Sales growth has stopped in Buenos Aires after the huge rebound of 2024 and 2025.
The Colegio de Escribanos de la Ciudad de Buenos Aires recorded 41,583 sale deeds from January to August 2026, 2.3% fewer than the 42,549 of the same months of 2025. July had 6,051 deeds, down 9% from 6,651 a year earlier. August had 6,055, down 4.9%.
That sounds like the recovery has ended. The level says otherwise. The Colegio says August 2026 ranks among the five best Augusts of the past 28 years: only 2025, 2007 and 1998 did better.
The market has kept most of the activity it won back. What has gone is the fast year-on-year growth, because 2026 is now compared with a very strong 2025.
| CABA sale deeds | Same period 2025 | 2026 | Change | What we see |
|---|---|---|---|---|
| July | 6,651 | 6,051 | -9.0% YoY | Sales have cooled |
| August | 6,370 | 6,055 | -4.9% YoY | Still among the five best Augusts in 28 years |
| January–August | 42,549 | 41,583 | -2.3% YoY | Market is close to flat |
| August vs July 2026 | 6,051 | 6,055 | +0.1% | Stable month to month |
Did Argentina’s property recovery already run out of steam?
It has lost speed, but sales are far too high to say the market has rolled over.
Look at the year-on-year figures over time. CABA deeds jumped 93.7% in January 2025 compared with January 2024, and the first seven months of 2025 were up 45.3%. By January 2026, sales were down 6.1% year on year, and July 2026 was down 9%.
Those swings look dramatic because the comparison base changed so fast. During the rebound, every sale was compared with a depressed market. Today's buyers are compared with one of the busiest periods Buenos Aires has seen in years.
The more useful point: monthly sales have spent most of 2026 around 5,000 to 6,000 deeds, not falling back to the weak levels earlier in the decade. This is a high plateau, with good and bad months around it.
Argentina has a recovered property market. Whether it can start growing fast again is much less certain.
Are Buenos Aires property prices still rising today?
Barely. Listing prices still creep up, but buyers should think "stable" rather than "rising".
Zonaprop's September 2026 index puts the average Buenos Aires apartment at USD 2,484 per m² asking. That is up 0.3% in the month and 1.4% since January 2026.
Buenos Aires apartments are also still 11.3% below the historical high of Zonaprop's series.
A typical 50 m² two-room apartment lists for about USD 131,000 and a 70 m² three-room for about USD 180,000. A 1.4% rise on those prices is a couple of thousand dollars.
So yes, Buenos Aires asking prices are still technically going up. The pace is so small that "flat in dollars" describes it better.
Argentina Property Market
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Are Buenos Aires homes really selling for more money?
No. Actual sale prices are flatter than asking prices, and completed deals are slightly cheaper per m² than a year ago.
The M² Real index from RE/MAX Argentina, Universidad del CEMA and Reporte Inmobiliario tracks completed sales of used apartments, not listings. It puts Buenos Aires at USD 2,097 per m² in September 2026, against USD 2,105 a year earlier: down 0.4%.
Do not subtract that from Zonaprop's USD 2,484 and call the gap a discount: the two samples hold different homes. The same M² Real report does compare last asking price and final price on the same homes, and in September 2026 buyers closed about 4.75% below asking.
The direction is what matters. Sellers keep advertising at gently rising prices while real deals go sideways. There is little sign of real appreciation in what people actually pay.
| Buenos Aires apartment measure | Latest level | Recent movement | Reading |
|---|---|---|---|
| Zonaprop asking price (Sept 2026) | USD 2,484/m² | +1.4% since January | Slowly rising |
| M² Real closing price (Sept 2026) | USD 2,097/m² | -0.4% YoY | Slightly lower |
| Negotiation on the same homes | -4.75% | September 2026 | Thin margin |
| Zonaprop vs historical peak | — | -11.3% | Recovery incomplete |
Is Buenos Aires cooling faster than the rest of Argentina?
Yes. Buenos Aires is one of the clearest cases of slowing prices, while Rosario and Córdoba moved more.
Rosario is the strongest contrast. Zonaprop put apartments there at USD 1,841 per m² in May 2026, up 3.4% since January, 9% over twelve months and around 25% since the market turned in October 2023. TuLugar's October 2026 median is a little lower, at USD 1,778.
Córdoba had an even bigger recovery from its low. Zonaprop put it at USD 1,474 per m² in March 2026, 31.5% above the May 2023 turning point and about 11% above March 2025. But it is slowing: the first quarter of 2026 added 1.9%, against 4.8% a year earlier, and deeds in Córdoba province fell 9% from January to September 2026.
Greater Buenos Aires sits in between. In September 2026 GBA North apartments averaged USD 2,426 per m², up 2.4% in 2026 and 3.2% in a year. GBA South was at USD 1,673, up 1.7% in 2026, and GBA West at USD 1,570, up just 0.1% after three monthly falls in a row.
So Argentina has several cycles running at different speeds. Rosario still has some momentum, Córdoba has had its big move and is slowing, and Buenos Aires City and western GBA are close to flat.
| Market (Zonaprop) | Asking price | Latest growth | Longer view | Picture |
|---|---|---|---|---|
| Buenos Aires City | USD 2,484/m² (Sept 2026) | +1.4% in 2026 | 11.3% below peak | Almost flat |
| GBA North | USD 2,426/m² (Sept 2026) | +2.4% in 2026 | +3.2% YoY | Slow growth |
| GBA South | USD 1,673/m² (Sept 2026) | +1.7% in 2026 | About 33% below CABA | Slow growth |
| GBA West | USD 1,570/m² (Sept 2026) | +0.1% in 2026 | Three monthly falls | Flat |
| Rosario | USD 1,841/m² (May 2026) | +3.4% in 2026 | +9% YoY | Still rising |
| Córdoba | USD 1,474/m² (Mar 2026) | +1.9% in Q1 | +31.5% since May 2023 | Slowing |
70+pagesAre mortgages still helping Argentina’s property market grow?
No. Mortgage lending is the clearest weak spot, with new loans running far below last year.
Fundación Tejido Urbano, working from central bank data, counts 14,237 new mortgages from January to July 2026, against 25,160 over the same months of 2025. That is a 43% drop.
Sales held up much better. In Buenos Aires City, 6,170 deeds used a mortgage from January to August 2026, against 9,341 a year earlier: down about 34%, while total deeds fell only 2.3%. Only 14.8% of all deeds used a mortgage. In Buenos Aires province, the first half of 2026 brought 55,035 deeds, down 7.8%, with mortgage deeds down 32.6%.
Credit got dearer. Tejido Urbano's mid-2026 monitor put the average mortgage rate (on top of UVA inflation indexing) at about 7%, with terms shortened to around 23 years. Banco Nación now lends at UVA + 6.7% to eligible salary clients and UVA + 12% otherwise, and it dominates the market as several private banks pulled back.
There are small signs of life. August 2026 had 1,059 mortgage deeds in Buenos Aires, 17.5% of sales, above the year's average share, and the central bank saw mortgage lending grow again in September. Still well below last year.
| Mortgage indicator | 2025 | 2026 | Change |
|---|---|---|---|
| New mortgages, Argentina, Jan–Jul | 25,160 | 14,237 | -43% |
| CABA mortgage deeds, Jan–Aug | 9,341 | 6,170 | -34% |
| CABA mortgage deeds, August | — | 1,059 | -20.8% YoY |
| PBA mortgage deeds, H1 | — | — | -32.6% YoY |
| Banco Nación rate, eligible salary clients | — | UVA + 6.7% | Others pay UVA + 12% |
Can Argentina’s property market keep moving without mortgages?
It can keep a lot of sales going without mortgages, but another big jump in sales is much harder if credit stays weak.
New loans fell 43% in the first seven months while Buenos Aires sales are only 2.3% lower over eight months. That shows how unusual the Argentine market still is.
Purchases run on savings, dollars kept outside the banks, the sale of another property and family money. Those buyers do not disappear when mortgage rates rise.
That protected the market this year. It also sets a ceiling. Cash buyers mostly move existing wealth around. Mortgages turn years of future income into buying power today and let many more middle-income households in.
Argentina brought about 43,700 new mortgage borrowers back in 2025, according to the central bank, after housing credit had almost vanished. Losing over 40% of new loans in a year removes the easiest way for demand to grow from here.
70+pagesAre rents in Argentina still going through the roof?
No. Buenos Aires rents still rise fast in pesos, but they now lose to inflation.
Zonaprop puts the average asking rent for a 50 m² two-room flat in Buenos Aires City at ARS 898,154 a month in September 2026 (USD 580). That is up 28.7% over twelve months and 20.8% since January.
Next to inflation it is less impressive. Consumer prices rose 33.4% over the same twelve months and about 23.6% from January to September, so the typical rent fell about 2% in real terms this year.
The slowdown is stronger outside the city. Two-room asking rents rose 14.9% in GBA North (ARS 826,916, USD 535), 14.5% in GBA South and 13.9% in GBA West from January to September, far behind inflation.
The reason is supply. Since the 2020 rental law was scrapped by DNU 70/2023, flats came back to the long-term market: La Nación reported on 19 October 2026 that rental listings in Buenos Aires are 3.6 times their February 2023 low. More choice for tenants makes it hard for landlords to push rents ahead of inflation.
For tenants the city is still expensive. For investors, the big rent catch-up is over.
Are Argentine rental properties still attractive to investors?
Yes, by recent Argentine standards, especially outside central Buenos Aires, even though rent growth is cooling.
Zonaprop puts the gross rental yield in Buenos Aires City at 5.70% in September 2026. At that rate, a year's rent repays the price in about 17.5 years, before any cost.
It gets better outside the city. Southern Greater Buenos Aires reached 7.44% (about 13.4 years) and western GBA 7.10% in September 2026. Córdoba's latest Zonaprop reading is 7.80% (March 2026, 12.8 years) and Rosario's 5.99% (May 2026).
These are gross figures. Owners still pay building costs, repairs, empty months and buying costs. And a landlord living abroad should assume 21% of gross rent is withheld for income tax until a tax adviser confirms otherwise: that alone takes a 5.70% yield to about 4.5%.
Even so, rents now pay far more relative to prices than in the weak years, which is why investors are still buying while Buenos Aires prices stand still.
| Market (Zonaprop) | Gross rental yield | Gross payback | What investors get |
|---|---|---|---|
| Buenos Aires City (Sept 2026) | 5.70% | 17.5 years | Fair income, deep market |
| Rosario (May 2026) | 5.99% | 16.7 years | Slightly better than CABA |
| GBA West (Sept 2026) | 7.10% | 14.1 years | Clearly above CABA |
| GBA South (Sept 2026) | 7.44% | 13.4 years | Best around the capital |
| Córdoba (Mar 2026) | 7.80% | 12.8 years | Best of the big cities |
70+pagesIs Argentina building enough new property to call this a construction boom?
No. The latest data point the other way.
INDEC's construction activity index (ISAC) was down 4.4% year on year in August 2026. Private data were already weak: Grupo Construya reported that July 2026 shipments of building materials fell 6.5% year on year.
There are pockets of activity. The floor area approved for new buildings in Buenos Aires City rose 37% year on year in the second quarter of 2026 (CEPA). Permits are not finished homes, though, and many projects wait for better numbers before they start.
Overbuilding is not a real risk in Argentine housing today. Developers are not flooding the market with new homes.
| Construction measure | Period | Change | Reading |
|---|---|---|---|
| INDEC ISAC activity index | August 2026 | -4.4% YoY | Shrinking |
| Construya material shipments | July 2026 | -6.5% YoY | Weak |
| CABA approved floor area | Q2 2026 | +37% YoY | Projects in the pipeline |
Are rising construction costs squeezing Argentine developers?
Yes. Building costs rise much faster than sale prices.
INDEC's construction-cost index for Greater Buenos Aires rose 1.5% in September 2026 and 31.3% over twelve months, in pesos.
In dollars the gap is clear. Zonaprop's September 2026 report shows Buenos Aires building costs up 18.5% since January and 21% over twelve months, while apartment asking prices rose 1.4% since January. In Greater Buenos Aires, prices rose between 0.1% and 2.4% this year.
That is the strong peso at work: costs paid in pesos climb with inflation, while homes are priced in dollars that barely move.
Projects still work where land was bought cheap, buyers pay a big new-build premium or the location is excellent. New two-room apartments in Buenos Aires already ask USD 3,215 per m² against USD 2,343 for used ones (IDECBA, Q2 2026). Average projects have much less room for error.
It also explains why the sales recovery has not brought a wave of construction: resale prices have not risen enough to make every new project pay.
Does Argentina’s economy still support higher property prices?
The economy is far friendlier to buyers than in the crisis years, but it does not give housing an easy path to much higher prices.
Inflation is far lower than at its peak. INDEC measured 1.9% in September 2026, though it is still 33.4% over twelve months, so long contracts and mortgages are easier to plan than two years ago.
That helped mortgages come back, and it lets banks price credit with some visibility.
Household money is the limit. Mortgage rates rose, terms got shorter, and homes are priced in dollars while most salaries are paid in pesos.
The housing data fit that picture: people buy again, but there is not enough new buying power to push sales and prices up fast across the country.
70+pagesJust a preview. If a price here looks old, no worries: your guide comes with this month’s numbers.
Is Argentina heading into another property bubble?
No. Argentina looks far from a classic credit-fuelled housing bubble.
The usual ingredients are missing. Buenos Aires asking prices are still 11.3% below Zonaprop's historical peak. Western GBA prices have fallen three months in a row.
Closing prices in Buenos Aires are 0.4% lower than a year ago. Mortgage lending fell by 43% instead of speeding up. Construction activity is shrinking, down 4.4% year on year in August 2026.
Rosario and Córdoba gained much more from their lows, so some neighborhoods or projects can get expensive. The national picture is calm.
The more real risk is the opposite: expensive credit and rising building costs keeping the market stuck where it is.
What would make Argentina’s property market take off again?
Cheaper and wider mortgages would do more than anything else.
2025 is the test case. Mortgage lending expanded fast, about 43,700 new borrowers took a mortgage (central bank), and Buenos Aires sales reached levels not seen in years.
Conditions then tightened. Rates rose to around 7% above inflation, terms shortened and new loans in the first seven months of 2026 were 43% below 2025.
If rates fall and private banks lend again, Argentina has a large pool of buyers who cannot pay cash today. That would widen demand far more than another year of cash buyers.
Real wage growth would help, letting banks approve bigger loans. Gross yields of 6% to 8% in several markets could keep investors interested too.
Today, the mortgage piece is only starting to move in the right direction (see the state-funded auctions below).
Could Argentina’s property recovery still stall?
Yes, if weak lending lasts long enough, and especially if building costs keep rising faster than sale prices.
The market has absorbed the credit slowdown well so far, mostly thanks to buyers who do not need a loan.
A long stretch of expensive credit would slowly shrink the buyer pool. Developers have their own problem: building gets harder when costs rise about 21% a year in dollars while prices barely move.
Weaker jobs or incomes would add pressure, since Argentine buyers earn pesos and homes are priced in dollars.
None of this points to a sudden crash. It does make several years of slow, uneven growth more likely than another surge like 2024–2025.
Will the new state-funded mortgages restart the market?
They can help locals, not foreign buyers, and not overnight.
The government is using the pension fund (FGS) to fund home loans: up to ARS 2 trillion in total. The first auction placed ARS 200 billion with 13 banks on 7 September 2026, the second another ARS 200 billion with 12 banks on 6 October 2026. Loans made with that money are capped at UVA + 7.5% over at least 15 years, and eligibility was widened to any single permanent home. Banco Ciudad also offers UVA + 6.5% for a first home of up to 80 m² until 31 December 2026.
The central bank saw mortgage lending grow again in September 2026, so the money is starting to reach buyers. ARS 400 billion is about USD 258 million, though, which is a few thousand loans at Buenos Aires prices, not a return to 2025 volumes.
What to do: if you buy with cash, a revival of credit is good news for resale, so favor the 50 to 80 m² apartments that local first-time buyers with a loan can afford. Do not plan on borrowing yourself: we found no confirmed access to UVA mortgages for non-residents with only foreign income.
70+pagesDoes the strong peso make Argentine property dearer for foreign buyers in 2026?
Yes, for everything paid in pesos. The purchase price in dollars has barely moved, but owning costs more in dollars every month.
The dollar traded around ARS 1,550 in late October 2026, with official, MEP and blue rates less than 2% apart. The wholesale dollar rose only about 4.9% since January, while consumer prices rose about 23.6% from January to September. In real terms, the peso is strong.
It shows in running costs. Average building fees (expensas) in Buenos Aires reached ARS 379,774 a month in September 2026 (USD 245), up 28.6% in a year. Repairs, building staff and local services follow the same path.
What to do: budget yearly costs in dollars at today's rate plus a margin, ask for the last twelve months of expensas before you offer, and do not wait for a big devaluation to make things cheap: the central bank's September 2026 survey of forecasters expects only about ARS 1,614 per dollar at the end of 2026.
What do the 2026 tax changes mean for someone buying now?
Selling got cheaper, buying did not, and renting out is still taxed for most foreigners.
Since 1 January 2026, individuals, residents and non-residents alike, pay no income tax on the gain when they sell a property (Law 27.802 and Decree 406/2026, published 1 June 2026). The old 1.5% transfer tax (ITI) was abolished in July 2024. Companies are not covered, one more reason to buy in your own name.
Buying still costs about 6–9% on top of the price in Buenos Aires: half of a 2.7% stamp tax, notary fees, registry and the agent. Long-term rent to a tenant's permanent home is now income-tax free for resident landlords, but for non-residents the decree is silent, so plan on 21% of gross rent withheld until an Argentine tax adviser tells you otherwise. Tourist rentals are taxed for everyone.
Two more October 2026 changes: on 9 October the Supreme Court provisionally brought back the limits on foreign ownership of rural land (Law 26.737), and on 2 October the government announced citizenship by investment from a USD 350,000 contribution. Buying a home gives no residency.
So, is the property market in Argentina still growing?
Yes, but only in parts, and the national recovery has moved into a much slower phase.
The evidence fits once you stop treating "growth" as one number.
Sales are high by historical standards, even though Buenos Aires has stopped growing year on year (41,583 deeds from January to August, down 2.3%). Asking prices still edge up in Buenos Aires, while closing prices are 0.4% lower than a year ago. Rosario and Córdoba gained more, and yields of 5.70% to 7.80% gross keep investors interested.
The weak side is hard to ignore. New mortgages fell 43%. Construction activity is shrinking. Rents trail inflation. Building costs in dollars rise far faster than prices.
So we would call "Argentina's property market is still growing" mostly true, with a big qualification. The multi-year recovery is alive. Fast, broad growth is not.
The first leg came from sales returning from very low levels, mortgages coming back, rents catching up and dollar prices leaving their lows. Those easy gains are behind us.
What comes next depends on credit. If the new state-funded loans and lower rates widen lending again, today's high level of sales leaves room for another strong move. If not, expect a split market: flat prices in much of Buenos Aires, better gains in some regional cities, fair yields and plenty of sales, but no national boom.
Our methodology
This article estimates whether Argentina's property market is still growing in October 2026, looking separately at sales, asking and closing prices, regional differences, mortgages, rents and yields, construction, costs, the peso and the 2026 tax changes, rather than one headline number.
Sales and mortgage deeds come from the Colegio de Escribanos de la Ciudad de Buenos Aires (August 2026) and, for Buenos Aires province, from the first-half 2026 deed statistics; national mortgage counts from Fundación Tejido Urbano based on central bank data, and the September trend from the central bank's monetary report. Asking prices, rents and yields come from Zonaprop's indices (Buenos Aires City and Greater Buenos Aires for September 2026, Rosario for May 2026, Córdoba for March 2026), checked against TuLugar's October 2026 medians. Closing prices and the negotiation margin come from the RE/MAX, Universidad del CEMA and Reporte Inmobiliario M² Real index (September 2026), new-versus-used prices from IDECBA (Q2 2026), construction from INDEC (ISAC August 2026, construction costs September 2026), Grupo Construya and CEPA, and building fees from ConsorcioAbierto.
Tax rules come from Law 27.802, Decree 406/2026 and Law 27.743, with the non-resident rental question based on a June 2026 note by Estudio Piccinini; mortgage terms from Banco Nación, Banco Ciudad and the FGS auctions; inflation from INDEC.
We checked these figures in October 2026. Peso amounts are converted at about ARS 1,550 per US dollar (official and MEP rates were within 1% of each other on 22 October 2026, the blue rate about ARS 1,570), and euro amounts at about ARS 1,740 per euro.
Where we had no direct figure, we said so or left it out. Zonaprop's Rosario and Córdoba reports are a few months older than the Buenos Aires one, the Construya figure is for July 2026, the average mortgage rate and term come from Tejido Urbano's mid-2026 monitor, and asking prices are listings, not closed deals. We found no Zonaprop year-on-year price change for Buenos Aires City in September 2026, so we use the change since January.
Key sources used for this analysis include the Colegio de Escribanos on August 2026 sale deeds, its July 2026 report, Zonaprop's Buenos Aires index for September 2026, Revista Mercado on Buenos Aires prices, Revista Mercado on Greater Buenos Aires (September 2026), the September 2026 M² Real report, Zonaprop's Rosario index, Zonaprop's Córdoba index, TuLugar's market report, CPAU on Tejido Urbano's mortgage count, Tejido Urbano's August 2026 mortgage monitor, the central bank's September 2026 monetary report, Banco Nación's mortgage page, Zonaprop's CABA yield index, Zonaprop's GBA South yield index, La Nación on rental supply, INDEC's construction-cost index, the Índice Construya, CEPA on Buenos Aires building permits, Infobae on September 2026 inflation, Infobae on the dollar, Decree 406/2026 and Estudio Piccinini on non-resident landlords.
