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How expensive is property in Buenos Aires now?

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SUMMARY

Buenos Aires property is not especially expensive by international standards right now: a normal citywide apartment benchmark sits around US$2,100–US$2,500 per square meter, although prime neighborhoods and new construction cost far more.

The biggest trap is using advertised prices as if they were transaction prices. Zonaprop is around US$2,471/m², while completed used-apartment sales tracked by M² Real are closer to US$2,112/m², so buyers looking only at portals can get an inflated sense of the market.

The market has recovered from its low without returning to its previous peak. Asking prices remain about 11.7% below the historical high, which leaves Buenos Aires in an unusual middle ground: no longer distressed, but not back at record dollar prices either.

Recent price momentum is weak. Asking prices are barely rising and completed-sale prices have spent several months around roughly US$2,100–US$2,200/m², even while transaction activity remains fairly strong.

Neighborhood choice overwhelms the citywide average. Puerto Madero is above US$6,000/m², Palermo and Núñez are above US$3,300/m², while Villa Lugano, Nueva Pompeya and several other areas still offer property around or below US$1,500/m².

New construction is a separate price tier. In several mainstream neighborhoods, a new apartment costs roughly 45%–55% more per square meter than a used one, so buyers who care more about location than finishes can save a very large amount by buying resale stock.

A US$100,000 budget is still meaningful in Buenos Aires. At current effective used-apartment prices it represents roughly 47 m² citywide, but the same budget can stretch toward 67–95 m² in cheaper districts and fall below 30 m² in Palermo.

The city looks affordable mainly to buyers holding dollars. For households earning locally, the market remains hard because property is effectively dollarized while most income is earned and saved in pesos.

Mortgages have returned, but they are not carrying the market. Only around 14%–16% of recent purchases involved mortgage deeds, which means cash buyers, equity-rich households and people selling another property still dominate transactions.

Buenos Aires also screens relatively cheaply against several major Latin American cities. Comparable regional data place it below Mexico City, Santiago, Montevideo, Panama City and Medellín on a price-per-square-meter basis.

For investors, the headline citywide gross rental yield of about 5.76% is decent rather than extraordinary. The better cash-flow opportunities tend to be in cheaper neighborhoods, while prestigious areas command much higher purchase prices without proportionally higher rents.

The practical conclusion is simple: Buenos Aires is still a moderately priced international property market, but averages hide almost everything. The real decision turns on neighborhood, new versus used stock, whether the buyer earns in dollars or pesos, and whether the goal is lifestyle, rental income or long-term resale.

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How expensive is property in Buenos Aires now?

How expensive is property in Buenos Aires right now?

Buenos Aires property currently sits around US$2,100–US$2,500 per square meter for a normal citywide apartment benchmark, with actual used-apartment sales near the bottom of that range and advertised prices near the top.

Zonaprop's latest CABA index puts the average asking price at US$2,471/m². The M² Real index produced by RE/MAX Argentina, UCEMA and Reporte Inmobiliario gives us a better idea of what buyers actually pay: used apartments closed at an average US$2,112/m² in its latest reading.

That difference immediately tells us why a single Buenos Aires price can be misleading. Portal listings show the price sellers want. Completed transactions show where buyers and sellers finally agree.

In practical terms, Zonaprop currently values an average 40 m² studio at about US$108,000, a 50 m² two-room apartment at US$131,000 and a 70 m² three-room apartment at US$179,000. Those are useful benchmarks for someone entering the market today.

Once we move into specific neighborhoods, however, the range becomes enormous. Puerto Madero sits above US$6,000/m², while Palermo and Núñez are above US$3,300/m². At the cheaper end of Buenos Aires, some neighborhoods remain close to US$1,000–US$1,500/m².

Current benchmark Market covered Price What it tells us
Zonaprop CABA Advertised apartments US$2,471/m² Useful asking-price benchmark
M² Real Completed used-apartment sales US$2,112/m² Better guide to actual deal prices
Average studio About 40 m² US$108,000 Typical entry-level reference
Average 2-room About 50 m² US$131,000 Mainstream one-bedroom equivalent
Average 3-room About 70 m² US$179,000 Typical larger apartment

Do Buenos Aires apartments really sell for US$2,471 per square meter?

No. Buenos Aires apartments are advertised around US$2,471/m² on average today, but used properties are actually closing much closer to US$2,100/m².

The latest M² Real index recorded an effective closing price of US$2,112/m² for used apartments. That index is especially useful because RE/MAX transaction data are combined with methodology developed by UCEMA and Reporte Inmobiliario specifically to track completed deals rather than listings.

The gap with Zonaprop's US$2,471/m² asking-price benchmark is about 17%. We cannot simply call that a 17% negotiation discount because the two datasets contain different properties. Still, it shows how easily a buyer can overestimate the market by looking only at portal prices.

Official Buenos Aires statistics point in the same direction. In the first quarter, three-room used apartments were being advertised at an average US$2,153/m² across CABA. That was already very close to the subsequent US$2,108–US$2,112/m² closing-price readings.

For a normal used apartment, we would therefore start closer to US$2,100–US$2,200/m² when estimating what the market is really clearing at today. The US$2,470 figure is more useful for understanding what sellers are asking.

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Are Buenos Aires property prices back near their old peak?

No. Buenos Aires property has recovered from the lows, but current prices are still well below the market's previous record.

Zonaprop says its CABA asking-price index remains 11.7% below the historical high of the series. At US$2,471/m² today, that implies a former peak of roughly US$2,800/m².

We are therefore still around US$330/m² below that old high. On a 70 m² apartment, that difference comes to roughly US$23,000.

The recent recovery nevertheless looks significant when measured from the depressed levels of a few years ago. Global Property Guide's latest regional dataset puts Buenos Aires around US$2,200/m² and 15.8% higher than two years earlier.

Both observations can be true. Buenos Aires has become noticeably more expensive since the bottom, while property is still cheaper than at the previous peak.

Calling today's market either "still crashed" or "back at record prices" misses what has actually happened. Buenos Aires has recovered a meaningful part of the decline without completing the round trip.

Are property prices in Buenos Aires still rising fast?

No. Buenos Aires property prices are barely moving now, especially once we look at completed sales rather than asking prices.

Zonaprop's latest index increased just 0.1% in one month, 0.9% since the beginning of the year and 1.3% over twelve months. That annual increase was the weakest recorded by the portal in 28 months.

The transaction data are even flatter. M² Real put completed used-apartment sales at US$2,200/m² in May, US$2,108 in June and US$2,112 in July. The latest figure was 0.9% below the same period a year earlier.

Three consecutive readings tell us more than one isolated monthly number. Actual prices have spent the past few months moving around roughly the same US$2,100–US$2,200 range.

Meanwhile, buyers are still active. The Colegio de Escribanos recorded 35,528 property transactions in CABA during the first seven months of the year, only 1.8% fewer than during the same period one year earlier.

So Buenos Aires currently has a reasonably busy market without meaningful price acceleration. Buyers wondering whether they need to rush because apartments are suddenly getting much more expensive have very little evidence for that view right now.

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What does a normal apartment in Buenos Aires cost today?

A normal Buenos Aires apartment currently costs roughly US$108,000 for a studio, US$131,000 for a one-bedroom equivalent and US$179,000 for a larger two-bedroom equivalent.

Those are Zonaprop's citywide reference prices for 40 m², 50 m² and 70 m² apartments respectively.

The numbers are useful because they translate an abstract price per square meter into the budgets people actually use. US$75,000 remains a lower-end budget. US$100,000 buys something real in many parts of Buenos Aires but falls below the modeled citywide price of a standard two-room apartment. Around US$150,000 opens up a much wider part of the market. At US$200,000, a buyer can realistically target many larger apartments, although premium neighborhoods remain expensive.

The smaller properties also cost more per square meter. Zonaprop's modeled studio works out near US$2,700/m², versus roughly US$2,560/m² for its 70 m² apartment. Kitchens and bathrooms take up a larger share of small units, so compact apartments often carry a higher square-meter price.

Actual used-apartment closing prices can bring the budget down. At the current US$2,112/m² effective benchmark, 50 m² equals roughly US$106,000 and 70 m² about US$148,000 before transaction costs.

Apartment type Approx. area Asking-price reference At US$2,112/m² closing benchmark
Studio 40 m² US$108,000 ~US$84,500
2 rooms 50 m² US$131,000 ~US$105,600
3 rooms 70 m² US$179,000 ~US$147,800
Larger apartment 90 m² Depends heavily on area ~US$190,000

How much do Buenos Aires property prices change by neighborhood?

Buenos Aires property prices change dramatically by neighborhood, with the most expensive areas costing almost six times as much per square meter as the cheapest ones.

Recent Zonaprop data put Puerto Madero around US$6,100/m², Palermo around US$3,430 and Núñez around US$3,390. At the other end, Villa Lugano is around US$1,050/m², Nueva Pompeya about US$1,500 and La Boca around US$1,580.

Puerto Madero currently costs roughly 5.8 times as much per square meter as Villa Lugano. Even Palermo is more than three times as expensive.

Official CABA statistics show the same pattern using three-room used apartments. In that dataset, Villa Lugano averaged US$996/m², Balvanera US$1,597, Caballito US$2,167, Belgrano US$2,768, Palermo US$2,879 and Puerto Madero US$5,623.

For a 60 m² apartment, the neighborhood alone can change the theoretical purchase price from around US$60,000 in one part of the city to more than US$350,000 in another.

No citywide average can capture that properly. Someone shopping in Palermo is dealing with a very different Buenos Aires property market from someone shopping in Flores, Balvanera or Lugano.

Neighborhood Recent price reference Approx. 60 m² value
Puerto Madero US$6,122/m² ~US$367,000
Palermo US$3,431/m² ~US$206,000
Núñez US$3,387/m² ~US$203,000
Belgrano ~US$3,060/m² ~US$184,000
La Boca US$1,584/m² ~US$95,000
Nueva Pompeya US$1,495/m² ~US$90,000
Villa Lugano US$1,053/m² ~US$63,000

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Is Puerto Madero really that much more expensive than the rest of Buenos Aires?

Yes. Puerto Madero currently sits in its own price category and should never be used as shorthand for what Buenos Aires property normally costs.

Zonaprop's recent neighborhood data put Puerto Madero above US$6,100/m², roughly two and a half times the CABA average.

Official city statistics reach almost the same conclusion from a different dataset. Used three-room apartments in Puerto Madero averaged US$5,623/m², compared with US$2,879 in Palermo, US$2,768 in Belgrano and US$2,153 across CABA. New three-room units in Puerto Madero averaged US$6,155/m².

At those prices, even a 60 m² apartment can approach US$350,000–US$370,000 before expenses. Larger, newer units with views and amenities routinely go much higher.

Puerto Madero tells us where the luxury ceiling begins. It says very little about what an ordinary buyer needs for a normal apartment elsewhere in Buenos Aires.

Are Palermo, Belgrano and Núñez expensive by Buenos Aires standards?

Yes. Palermo, Belgrano and Núñez are among the genuinely expensive mainstream neighborhoods in Buenos Aires today, with typical prices well above the city average even before we reach Puerto Madero.

Recent asking-price data put Palermo around US$3,430/m² and Núñez around US$3,390/m². Belgrano generally sits a little above US$3,000/m².

A 70 m² apartment at those neighborhood averages already points toward roughly US$215,000–US$240,000.

New construction costs considerably more. According to official CABA data, new three-room apartments averaged US$4,220/m² in Palermo, US$4,065 in Núñez and US$4,045 in Belgrano. That puts a theoretical 70 m² new apartment around US$285,000–US$295,000.

These prices make a US$150,000 budget feel very different depending on the neighborhood. In Palermo or Núñez, that amount often means accepting a smaller, older or less ideally located unit. Move farther from the most sought-after northern areas and the same money starts buying considerably more space.

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Can you still buy Buenos Aires property below US$2,000 per square meter?

Yes. Buenos Aires still has plenty of sub-US$2,000/m² property, especially in southern and more affordable central neighborhoods.

Official CABA figures for used three-room apartments put Villa Lugano at US$996/m², Nueva Pompeya at US$1,322, La Boca at US$1,332, Constitución at US$1,317, Balvanera at US$1,597, Liniers at US$1,620, San Nicolás at US$1,669 and Flores at US$1,742.

Recent portal prices have moved somewhat higher in several of those districts but continue to show the same basic split. Lugano remains close to US$1,050/m², Nueva Pompeya around US$1,500 and La Boca roughly US$1,580.

That gives lower-budget buyers options that simply do not exist in Palermo, Núñez or Puerto Madero.

At US$1,500/m², a US$100,000 budget theoretically corresponds to about 67 m² before purchase expenses. At US$3,400/m², the same money corresponds to only 29 m².

The trade-off, of course, is location, building quality, transport access, street quality and resale demand. But cheap Buenos Aires property is still very real; buyers just have to leave the neighborhoods that dominate international travel guides and expat searches.

How much more expensive is a new apartment in Buenos Aires?

New apartments in Buenos Aires currently cost much more than used ones, often around 45%–55% more in the neighborhoods buyers know best.

Official CABA statistics put the average price of a new three-room apartment at US$3,368/m², versus US$2,153/m² for a used one. That works out to a citywide premium of roughly 56%.

In Palermo, the gap was US$4,220 versus US$2,879, or about 47%. Belgrano came in at US$4,045 versus US$2,768, around 46%. Caballito was US$3,231 versus US$2,167, close to 49%.

Balvanera produced an even wider spread, with new apartments around US$3,039/m² and used stock around US$1,597/m². That is almost a 90% premium, although the local mix of projects makes that comparison more extreme than the citywide norm.

These differences can completely change a buyer's budget without changing neighborhood. A 70 m² used Palermo apartment at the official benchmark comes to about US$202,000. A new one at the same size reaches roughly US$295,000.

Buyers who care more about location than finishes can save tens of thousands of dollars by looking at good-quality resale stock.

Neighborhood New apartment Used apartment Approx. premium
CABA average US$3,368/m² US$2,153/m² ~56%
Palermo US$4,220/m² US$2,879/m² ~47%
Belgrano US$4,045/m² US$2,768/m² ~46%
Caballito US$3,231/m² US$2,167/m² ~49%
Balvanera US$3,039/m² US$1,597/m² ~90%
Villa Crespo US$3,107/m² US$2,103/m² ~48%

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Is Buenos Aires property cheap for someone earning a local salary?

No. Buenos Aires property is still extremely hard to afford on local incomes, even though its dollar price looks reasonable beside other major cities.

The mismatch comes from the way the market works. Apartments are effectively priced in US dollars, while most households earn and save in pesos.

According to the Buenos Aires statistics institute, average total household income was ARS 2.59 million per month in the first quarter. Converted at the official exchange rate prevailing toward the end of that quarter, that was roughly US$1,850 a month.

Compare that with today's mainstream property prices. A US$131,000 two-room apartment represents close to six years of that entire gross household income. A US$179,000 three-room apartment represents about eight years.

And those theoretical calculations assume a household spends nothing on food, rent, transport, taxes, children or anything else. Actual saving periods are obviously far longer.

This is one reason the word "cheap" causes so much confusion around Buenos Aires real estate. A foreign buyer arriving with dollar savings can see US$2,100/m² and think the city looks affordable. A local household trying to accumulate US$100,000 from peso income sees a much harder market.

Are mortgages making Buenos Aires apartments easier to afford?

Not much right now. Mortgages are present again in Buenos Aires, but the latest property deals show that most purchases still happen without one.

The Colegio de Escribanos recorded 6,051 property sales in its latest monthly report, including 959 purchases with a mortgage. That is only about 16% of transactions.

Looking across the first seven months gives us an even stronger picture. Buenos Aires registered 35,528 purchases and 5,111 mortgage deeds, putting the mortgage share at about 14%.

Mortgage activity has also weakened lately. The latest monthly total was down 31.2% from one year earlier, while mortgages across the first seven months were down around 36%. Total property sales over the same seven-month period fell only 1.8%.

The overall market is still busy. It has simply held up despite much weaker mortgage lending.

For affordability, that is a problem. Buyers who already have dollars, another property to sell or family capital can participate. A household depending on a long-term mortgage has fewer easy routes into the market.

Period Total property sales Mortgage deeds Mortgage share
Latest month 6,051 959 ~15.8%
First 7 months 35,528 5,111 ~14.4%
Previous month 5,990 765 ~12.8%

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Are people actually buying Buenos Aires property at these prices?

Yes. Buenos Aires buyers are still completing a lot of property deals, although the latest numbers do not look like a speculative frenzy.

The Colegio de Escribanos recorded 6,051 transactions in its latest monthly release. That was 9% below the unusually strong comparable period one year earlier, but still one of the strongest readings for that point in the calendar in many years. The organization said a higher comparable figure would require going back to 2008.

Across the first seven months, 35,528 transactions were completed, just 1.8% fewer than a year earlier.

The average recorded transaction value was about US$116,967 in the latest month, only 1.8% higher in dollars than a year before. One month earlier, the average deed value had been US$120,320, almost unchanged year over year.

Buyers are accepting today's general price range because thousands of deals continue to close. They are not bidding prices sharply upward, though.

That fits the M² Real data nicely: lots of transactions, closing prices around US$2,100–US$2,200/m², and little movement compared with last year.

Is Buenos Aires expensive compared with other Latin American cities?

No. Buenos Aires currently looks relatively affordable in US-dollar terms compared with several other major Latin American cities.

Global Property Guide's latest regional comparison puts Buenos Aires at about US$2,200/m². Mexico City is around US$2,947, Santiago US$2,907, Montevideo US$2,899, Panama City US$2,745 and Medellín US$2,389.

That makes Buenos Aires roughly 25% cheaper per square meter than Mexico City and around 24% cheaper than Santiago or Montevideo on this dataset.

For a theoretical 70 m² property, US$2,200/m² equals US$154,000. At US$2,900/m², the same surface costs roughly US$203,000. The difference is close to US$50,000.

São Paulo and Lima sit closer to Buenos Aires, at around US$2,155 and US$2,009 respectively in the same regional comparison.

Cross-city property datasets are never perfectly like-for-like because local sources and housing mixes differ. Still, the gap is large enough to make the regional position clear. Buenos Aires currently sits below several of the Latin American capitals and major cities that international buyers commonly compare with it.

City Recent comparative price 70 m² equivalent
Mexico City US$2,947/m² ~US$206,000
Santiago US$2,907/m² ~US$203,000
Montevideo US$2,899/m² ~US$203,000
Panama City US$2,745/m² ~US$192,000
Medellín US$2,389/m² ~US$167,000
Buenos Aires US$2,200/m² ~US$154,000
São Paulo US$2,155/m² ~US$151,000
Lima US$2,009/m² ~US$141,000

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Do Buenos Aires rental yields make current property prices attractive?

Sometimes. Buenos Aires now offers a citywide gross rental yield of about 5.76%, but the investment case changes enormously from one neighborhood to another.

Zonaprop's latest rent-versus-price index says an investor would need about 17.3 years of gross rent to recover the purchase price at the citywide average.

That ratio has improved compared with a year earlier because rents have risen much faster than sale prices. While sale prices have barely moved lately, asking rents have continued increasing at a much faster pace.

The neighborhood numbers are more revealing. Lugano and La Boca currently rank among the strongest areas for gross rental returns. Earlier Zonaprop neighborhood data showed yields above 7% in several cheaper southern districts, while places such as Palermo, Núñez and especially Puerto Madero sat much lower.

Buyers pay a large premium to own in prestigious neighborhoods, but tenants do not pay a proportionally equivalent premium in rent.

A buyer focused on rental cash flow can therefore find more attractive numbers away from the most fashionable parts of the city. Someone buying in Puerto Madero is paying far more for location, building quality and prestige than for maximum rental income.

Is US$100,000 still enough to buy an apartment in Buenos Aires?

Yes. US$100,000 is still a serious Buenos Aires property budget today, although what it buys depends almost entirely on the neighborhood.

At the latest US$2,112/m² effective used-apartment closing benchmark, US$100,000 corresponds to roughly 47 m² before transaction costs.

Using Zonaprop's US$2,471/m² asking-price average brings that down to about 40 m².

Then the neighborhood effect takes over. At roughly US$1,500/m² in Nueva Pompeya, US$100,000 theoretically covers about 67 m². Around US$1,050/m² in Villa Lugano, it approaches 95 m². At US$3,430/m² in Palermo, the same budget falls below 30 m².

Puerto Madero makes the contrast even clearer. Above US$6,000/m², US$100,000 does not realistically match the normal apartment stock available there.

These are simple price-per-square-meter calculations rather than promises about available listings, but they show the purchasing-power difference very well.

US$100,000 still buys a real apartment in Buenos Aires. It just no longer buys a comfortable apartment anywhere the buyer chooses.

Market reference Approx. price/m² Area represented by US$100k
Villa Lugano US$1,053 ~95 m²
Nueva Pompeya US$1,495 ~67 m²
Used CABA closing benchmark US$2,112 ~47 m²
CABA asking average US$2,471 ~40 m²
Palermo US$3,431 ~29 m²
Puerto Madero US$6,122 ~16 m²

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So, is property in Buenos Aires expensive now?

Mostly no by international standards, but absolutely yes for many local households. A normal Buenos Aires apartment today costs around US$2,100–US$2,500 per square meter, and that still puts the city below several major Latin American markets.

The latest evidence gives us a fairly tight picture. Used apartments are actually closing around US$2,112/m². Advertised apartments average US$2,471/m². As seen above, the asking-price index has risen only 1.3% over the past year, while real closing prices are slightly below their year-earlier level.

So there is little evidence that Buenos Aires property is currently running away from buyers.

The city also remains 11.7% below its historical asking-price peak. Today's prices can feel high after the recovery from the bottom, but Buenos Aires has still not returned to its previous dollar record.

Where the word "expensive" becomes accurate is at the neighborhood level. Palermo and Núñez already sit above US$3,300/m². New apartments in the most desirable northern areas can exceed US$4,000/m². Puerto Madero is above US$6,000/m² and operates almost like a separate luxury market.

At the same time, used apartments below US$2,000/m² remain common in cheaper parts of the city. The spread from Villa Lugano to Puerto Madero is close to sixfold.

For an international buyer arriving with US dollars, Buenos Aires currently looks moderately priced and, in many neighborhoods, relatively cheap beside Mexico City, Santiago or Montevideo. For someone earning a normal local salary, buying even a US$100,000 apartment remains very difficult.

Our final judgment is straightforward: Buenos Aires as a whole is not an expensive international property market today. The city is better described as a roughly US$2,100–US$2,500/m² market with unusually large neighborhood differences, a luxury segment that gets genuinely expensive, and a serious affordability problem for people earning locally.

OUR METHODOLOGY

This analysis asks what “expensive” actually means in the Buenos Aires property market. We separate current asking prices from completed transaction prices, then compare both with recent momentum, the historical peak, neighborhood dispersion, new-versus-used pricing, local affordability, mortgage use, rental economics and Buenos Aires’ position relative to other major Latin American cities.

We kept different datasets separate when they measured different things. Zonaprop is used mainly for current asking prices, modeled apartment values, neighborhood comparisons, historical positioning and rental-yield indicators, while M² Real from RE/MAX Argentina, UCEMA and Reporte Inmobiliario is used as the stronger reference for effective used-apartment closing prices.

Official statistics from the Buenos Aires Statistics Institute provide the citywide and neighborhood benchmarks for new and used apartments, along with household-income data used in the local-affordability comparison. Colegio de Escribanos deed records are used to measure actual transaction activity, average deed values and the share of purchases involving mortgages.

Recent monthly observations were compared rather than relying on one isolated reading. That is particularly important for completed-sale prices and mortgage activity, where a single month can move sharply without representing a broader change in the market.

For practical budget comparisons, apartment values and the area represented by budgets such as US$100,000 were calculated directly from the relevant price-per-square-meter benchmarks. For the regional comparison, we kept Buenos Aires and the other Latin American cities inside the same Global Property Guide dataset rather than combining unrelated local estimates.

Exchange-rate conversions used in the affordability section rely on the Banco Central de la República Argentina’s official reference-rate series. The final judgment is based on the combined evidence rather than on one headline citywide average, because neighborhood, property age, buyer currency and financing conditions change the answer materially.

Key sources include Zonaprop’s CABA index, UCEMA’s July 2026 M² Real release, Reporte Inmobiliario’s M² Real closing-price report, the Buenos Aires Statistics Institute’s apartment-sales report, the Colegio de Escribanos July 2026 deed report, the BCRA reference exchange-rate series, and Global Property Guide’s Latin American square-meter comparison.

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