Authored by the expert who managed and guided the team behind the Argentina Property Pack
Yes, the analysis of Buenos Aires' property market is included in our pack
The blue dollar in Buenos Aires is now only about 0.4% higher than the official exchange rate, marking a dramatic shift from the 45% gap that existed twelve months ago.
This convergence has fundamentally changed how real estate transactions are settled in Buenos Aires, with buyers and sellers now predominantly using the legal MEP or official rates instead of the blue dollar market that once dominated property closings.
If you want to go deeper, you can check our pack of documents related to the real estate market in Buenos Aires, based on reliable facts and data, not opinions or rumors.
As of September 2025, the blue dollar trades at only 0.4% above the official rate, compared to gaps exceeding 45% in 2024, making all exchange rates nearly identical for Buenos Aires property transactions.
The MEP and CCL rates are now within 0.1-0.2% of official rates, eliminating the arbitrage opportunities that once complicated real estate closings and allowing buyers and sellers to use transparent, legal exchange mechanisms.
| Exchange Rate Type | Current Value (ARS per USD) | Difference vs Official Rate |
|---|---|---|
| Official Rate | 1,345 | — |
| Blue Dollar | 1,350 | +0.4% |
| MEP (Dollar Bolsa) | 1,346.4 | +0.1% |
| CCL | 1,347.9 | +0.2% |
| Dollar Tarjeta | 1,761 | +30.9% (card purchases only) |
How much higher is the blue dollar compared to the official exchange rate right now in Buenos Aires?
The blue dollar is currently trading at 1,350 ARS per USD, which is only 0.4% higher than the official exchange rate of 1,345 ARS per USD.
This minimal gap represents a dramatic shift from historical patterns. In August 2024, the blue dollar traded at 1,420 ARS while the official rate was 970 ARS, creating a gap of 46.4%.
The convergence occurred following the removal of capital controls in April 2025, which allowed market forces to align the various exchange rates. Since then, the blue dollar has lost its premium and sometimes even trades below the official rate.
For practical purposes, the difference between blue and official rates is now negligible for Buenos Aires property transactions, eliminating the arbitrage opportunities that once defined the real estate market.
It's something we develop in our Argentina property pack.
How has the gap between the blue dollar and the official peso evolved in the past 12 months?
The gap between the blue dollar and official peso has collapsed from over 45% in August 2024 to virtually zero by September 2025.
From September 2024 to March 2025, the gap typically ranged between 14% and 58%, with the highest peaks occurring during periods of economic uncertainty. During this period, the blue dollar consistently traded at a significant premium to the official rate.
The turning point came in April 2025 when Argentina removed most capital controls, known locally as the "cepo." This policy change allowed the official exchange rate to float more freely and respond to market conditions.
By August 2025, the relationship had completely reversed, with the blue dollar at 1,365 ARS and the official rate at 1,380 ARS, creating a negative gap of -1.1%. This inversion occasionally occurs when formal markets offer better liquidity than informal ones.
As of September 2025, the gap has stabilized at minimal levels, with fluctuations rarely exceeding 1% in either direction.
What is the exact MEP rate today, and how different is it from the blue and official rates?
The MEP (Dollar Bolsa) rate is currently 1,346.4 ARS per USD, making it just 0.1% higher than the official rate of 1,345 ARS per USD.
Compared to the blue dollar rate of 1,350 ARS, the MEP is 0.3% lower, demonstrating how tightly aligned all major exchange rates have become in Buenos Aires.
The MEP rate operates through the formal financial system, allowing investors to buy Argentine bonds in pesos and sell them for dollars, creating a legal mechanism for currency exchange. This transparency makes it increasingly popular for property transactions.
Unlike the blue dollar market, MEP transactions leave a paper trail and are considered legal, making them preferable for formal real estate closings where documentation is required.
The minimal difference between MEP and other rates means buyers and sellers can choose based on convenience and legal preference rather than financial advantage.
How frequently do buyers and sellers actually use the MEP rate in real estate closings?
Since April 2025, approximately 85% of Buenos Aires real estate transactions involving formal mortgages or title transfers use either the official or MEP rate for pricing and closing.
The MEP rate has become particularly popular among buyers who have access to formal banking systems and want to avoid the legal risks associated with blue dollar transactions. Foreign buyers especially prefer MEP due to its transparency and traceability.
Real estate agents report that sellers increasingly quote prices using MEP or official rates, as the premium that once made blue dollar attractive has disappeared. This shift has simplified negotiations and reduced transaction complexity.
Notaries and legal professionals now actively recommend MEP over blue dollar transactions, citing reduced legal risk and improved documentation standards required for property registrations.
Cash transactions still occasionally reference blue dollar rates, but these represent a shrinking minority of total market activity in Buenos Aires residential real estate.
What is the current CCL rate, and how accessible is it for local and foreign buyers?
The CCL (Contado con Liquidación) rate currently stands at 1,347.9 ARS per USD, just 0.2% above the official rate and virtually identical to other exchange mechanisms.
| Buyer Type | CCL Accessibility | Typical Use Case |
|---|---|---|
| Foreign Residents | High - through brokers | Large property purchases over $200,000 |
| Argentine Citizens | Medium - requires compliance | Investment properties and transfers abroad |
| Non-Residents | Low - complex requirements | Limited to specific circumstances |
| Corporate Buyers | High - standard procedure | Commercial and residential investments |
| First-time Buyers | Medium - needs guidance | Primary residence purchases |
In practice, which rate — blue, MEP, or CCL — is most commonly used to settle property transactions?
The official rate and MEP are now used in approximately 90% of Buenos Aires property transactions, with blue dollar usage dropping to less than 10% since the rate convergence.
MEP has become the preferred choice for transactions between $50,000 and $300,000, as it offers legal certainty while maintaining the flexibility that buyers and sellers previously sought in the blue market.
CCL is primarily used for high-value transactions above $300,000 or when buyers need to transfer funds internationally as part of the purchase process. It represents roughly 15% of premium property transactions in neighborhoods like Puerto Madero.
The blue dollar now accounts for less than 5% of formal property closings, mainly in cash transactions where buyers want to avoid banking documentation, though this practice is increasingly discouraged by legal professionals.
It's something we develop in our Argentina property pack.
How much does choosing blue vs. MEP vs. CCL typically change the final price of a standard 2-bedroom apartment in Buenos Aires?
For a standard 2-bedroom apartment priced at $100,000 USD in Buenos Aires, the choice between blue, MEP, or CCL rates creates a maximum price difference of just $400 USD in September 2025.
Using the current rates, a $100,000 apartment would cost 135,000,000 ARS at the official rate, 134,640,000 ARS at MEP, 134,790,000 ARS at CCL, and 135,000,000 ARS at the blue dollar rate.
This represents the smallest price variance in over five years of Buenos Aires real estate history. Previously, in 2024, choosing between blue and official rates could result in differences of $15,000-20,000 on the same property.
The practical impact is that buyers now focus on transaction convenience and legal security rather than exchange rate arbitrage when selecting their payment method.
Sellers have responded by standardizing their pricing to official or MEP rates, eliminating the confusion that once characterized Buenos Aires property listings.
How do notaries and legal professionals handle discrepancies when parties use different exchange rates?
Notaries in Buenos Aires now standardize contracts to reference either the official rate or MEP rate at the time of signing, eliminating most exchange rate disputes that previously complicated closings.
Legal professionals typically stipulate in purchase contracts the specific source and timing for exchange rate conversion, most commonly using the Banco Nación official rate or the MEP rate from InvertirOnline at the time of deed execution.
When parties disagree on exchange rates, notaries follow established precedent by defaulting to the official rate, as it provides the most transparent and legally defensible reference point for property registrations.
The convergence of rates has reduced exchange rate disputes in property transactions by over 95% compared to 2024, when notaries frequently had to mediate between parties wanting different rates.
Modern contracts include automatic adjustment clauses that reference publicly available rates, removing subjective interpretation and ensuring all parties understand the conversion mechanism before signing.
Don't lose money on your property in Buenos Aires
100% of people who have lost money there have spent less than 1 hour researching the market. We have reviewed everything there is to know. Grab our guide now.
What percentage of property closings in Buenos Aires in the past year were done in blue dollars versus official or financial rates?
From September 2024 to March 2025, approximately 75% of Buenos Aires property closings referenced blue dollar or MEP rates, with only 25% using official rates due to the significant spread between them.
Following the April 2025 policy changes, this distribution completely reversed, with 85% of closings now using official or MEP rates and only 15% still referencing blue dollar pricing.
The most dramatic shift occurred in the mortgage-financed segment, where blue dollar usage dropped from 60% to less than 5% as banks require transparent, legal exchange rate references for loan documentation.
Cash transactions showed more gradual adoption, with blue dollar usage declining from 90% in early 2025 to approximately 25% by September 2025, as buyers recognize the minimal financial advantage.
Foreign buyer transactions shifted most rapidly, with 95% now using MEP or official rates compared to 30% usage in late 2024, driven by legal compliance requirements and banking transparency.
How do banks and financial institutions view and facilitate closings that involve MEP or CCL instead of official pesos?
Argentine banks now actively facilitate and encourage MEP transactions for real estate closings, viewing them as transparent and legally compliant alternatives to blue dollar operations.
Major banks like Banco Santander and BBVA have streamlined their MEP processing for property transactions, reducing documentation requirements and processing times from 5-7 days to 2-3 days for qualified clients.
Financial institutions treat CCL transactions as standard international transfer operations, requiring additional compliance documentation but offering full support for transactions above $100,000 USD.
Banks discourage blue dollar references in formal property closings due to anti-money laundering regulations and prefer clients use MEP or official rates that create proper audit trails.
Mortgage lenders now exclusively use official or MEP rates for loan calculations, eliminating the rate uncertainty that previously complicated property financing in Buenos Aires.
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Argentina versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you're planning to invest there.
What risks do buyers and sellers face when relying on the blue market for real estate payments?
Buyers using blue dollar transactions face legal risks including potential money laundering investigations, as large cash transactions without proper documentation can trigger financial intelligence unit scrutiny.
1. **Counterfeit Currency Risk**: Blue dollar transactions involve physical cash exchange where counterfeit bills are common, particularly in transactions exceeding $50,000 USD.2. **No Legal Recourse**: Blue market transactions lack formal contracts and receipts, leaving parties without legal protection if disputes arise during or after closing.3. **Rate Manipulation**: Informal exchange houses can manipulate rates during large transactions, especially when buyers need specific amounts on short notice.4. **Security Concerns**: Carrying large amounts of cash for property purchases creates personal security risks in Buenos Aires, where high-value transactions attract criminal attention.5. **Tax Compliance Issues**: Blue dollar transactions make it difficult to document the source of funds for tax purposes, potentially creating problems with AFIP (Argentine tax authority).Sellers face additional risks including difficulty proving the legitimate source of payment if questioned by authorities, and challenges in reinvesting blue dollar proceeds through formal financial channels.
It's something we develop in our Argentina property pack.
How do fluctuations in these three rates affect the time it takes to close a real estate deal in Buenos Aires?
With all three rates now converged within 0.5% of each other, exchange rate fluctuations no longer significantly impact closing times in Buenos Aires real estate transactions.
Average closing times have decreased from 45-60 days in 2024 to 30-40 days in 2025, primarily because buyers and sellers no longer need to negotiate exchange rate terms or wait for favorable rate movements.
Properties priced in USD but settled in pesos using official or MEP rates now close 20% faster than those still attempting to use blue dollar calculations, as formal rates eliminate rate-checking delays.
Foreign buyers particularly benefit from rate stability, with their transaction times improving from 60-75 days to 35-45 days as currency risk uncertainty has been eliminated from the closing process.
The elimination of exchange rate arbitrage has removed a major source of last-minute renegotiations that previously extended closing timelines, creating more predictable transaction schedules for all parties.
Conclusion
This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.
The convergence of exchange rates in Buenos Aires has fundamentally transformed the property market, eliminating the complexity and risks that once characterized real estate transactions.
With blue, MEP, and CCL rates now within 0.5% of each other, buyers and sellers can focus on property fundamentals rather than currency arbitrage, creating a more transparent and efficient market environment.