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SUMMARY
Yes. Buenos Aires rents are still rising in pesos, but the city is no longer in anything close to the rental boom seen a few years ago.
The headline increase of roughly 31% over twelve months sounds large until it is compared with inflation. On a real basis, citywide rents are now roughly flat and may even be slightly lower than at the start of the year.
The biggest structural change is supply. Traditional rental inventory has stayed far above pre-reform levels, which has made it much harder for landlords to push asking rents aggressively across the whole city.
That extra supply is not evenly distributed. Studios and one-bedroom apartments dominate the available stock, while larger family apartments are scarcer and currently showing stronger rent growth.
Neighborhood averages hide another large split. A two-room apartment in a premium northern area can cost hundreds of thousands of pesos more each month than the same room count in a cheaper part of CABA.
Dollar rents have also become too important to ignore. Roughly a quarter of advertised apartments are dollar-denominated, with the share much higher among larger units and in Palermo, Belgrano, Núñez and Recoleta.
Affordability has improved a little relative to incomes, but that does not mean rent feels cheap. A normal two-room asking rent can still absorb around 30% of average household income and more than 40% of a single registered worker's gross wage.
Landlords, meanwhile, are in a better position than during the weakest years of the market. Gross yields have recovered to roughly 5.8% to 6.2%, helped by rents rising faster than sale prices.
CABA also looks calmer than parts of Greater Buenos Aires. Both areas face the same national inflation and currency backdrop, yet weaker rental supply outside the city has produced more persistent pressure in several suburban markets.
The clearest warning sign would be a sustained decline in rental availability combined with rents once again rising faster than inflation. For now, those conditions are not showing up together, so the citywide story is still one of nominal increases but much less real pressure.
Are Buenos Aires rents still rising right now?
Yes. Buenos Aires rents are still going up in pesos, with the latest asking-rent data showing another monthly increase and prices roughly 31% above a year earlier.
Zonaprop's latest CABA rental index puts the average two-room apartment at AR$873,668 per month after a 1.6% monthly increase. Over twelve months, the same benchmark has risen 30.7%. The official Buenos Aires statistics institute, IDECBA, finds a similar pattern for used apartments: during the latest completed quarter, asking rents were 32.0% higher for one-room units, 31.0% higher for two-room units and 34.8% higher for three-room units compared with a year earlier.
So tenants searching now are still seeing higher sticker prices. There has been no broad nominal rent decline.
There is one caveat worth understanding from the start. Zonaprop and IDECBA mainly track advertised rents rather than every final contract signed between landlords and tenants. In a market with plenty of listings, some apartments will rent below their original asking price. That can affect the exact level, although it does little to change the broader direction because several independent datasets are showing similar increases.
| Buenos Aires rental benchmark | Current asking rent | Annual increase | Source |
|---|---|---|---|
| 1-room used apartment | AR$565,658 | +32.0% | IDECBA |
| 2-room used apartment | AR$764,485 | +31.0% | IDECBA |
| 3-room used apartment | AR$1,174,304 | +34.8% | IDECBA |
| 2-room Zonaprop benchmark | AR$873,668 | +30.7% | Zonaprop |
Are Buenos Aires rents actually getting more expensive after inflation?
Barely. Once we adjust Buenos Aires rents for inflation, the big rental squeeze of a few years ago has largely disappeared.
IDECBA's newest quarterly study found average annual rent growth of 32.6% for used apartments. Buenos Aires consumer prices increased 32.7% over the comparable period. The gap is only one tenth of a percentage point.
The more recent Zonaprop index goes slightly further. Its standard two-room rent rose 17.5% from the start of the year through July, while inflation accumulated 19.2%. In purchasing-power terms, that works out to a real decline of roughly 1.4% to 1.7%, depending on how the comparison is calculated.
That changes how a 30% annual rent increase should be read in Argentina. A landlord asking AR$900,000 now instead of roughly AR$690,000 a year ago has raised the nominal rent substantially. Yet if the general price level has moved by almost the same amount, the apartment itself has barely become more expensive in real terms.
For now, the citywide rental market looks close to flat after inflation.
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Has the Buenos Aires rent boom finally slowed down?
Yes. Buenos Aires rent inflation has fallen dramatically from the extraordinary pace reached during the most distorted years of the market.
Zonaprop's historical series shows rents rising about 98% in 2022 and 260% in 2023. The 2023 increase was even faster than Argentina's roughly 212% inflation rate. Then the pattern changed sharply: rental prices rose around 64% in 2024 while inflation was approximately 118%.
The slowdown has continued. Zonaprop measured annual rent growth of 34.0% in April, 32.5% in May and 30.7% in July. May's figure was already the lowest annual increase in its series since late 2019.
IDECBA sees a similar cooling in smaller apartments. Annual growth for one- and two-room units slowed by 2.7 percentage points between the first and second quarters. Three-room apartments moved the other way, which we will come back to later.
Looking across the full trajectory tells us far more than the latest 1.6% monthly increase. Buenos Aires has moved from triple-digit rent inflation to roughly 30% annual growth while inflation itself has fallen enormously. The rental market is still repricing every month, but the exceptional acceleration is over.
| Period | Zonaprop rent increase | Inflation comparison |
|---|---|---|
| 2022 | ≈98% | ≈95% |
| 2023 | ≈260% | ≈212% |
| 2024 | ≈64% | ≈118% |
| April 2026, annual rate | 34.0% | Much lower than the old peak |
| May 2026, annual rate | 32.5% | Lowest since late 2019 at that point |
| July 2026, annual rate | 30.7% | Slowdown continuing |
Why did Buenos Aires rents cool down so much?
Buenos Aires rents cooled because thousands of apartments came back onto the long-term rental market after Argentina loosened its rental rules.
DNU 70/2023 gave landlords and tenants far more freedom over contract duration, currency and adjustment methods. Under the previous system, owners had faced tighter rules governing lease terms and rent updates. A significant number responded by withdrawing properties, selling them or shifting them toward other uses.
The change after deregulation was unusually large. An Argentine government assessment based on Mercado Libre listings found that apartment supply in the Buenos Aires metropolitan area was already 90.3% higher one month after the reform than immediately before it. Six months later, available supply was 211.9% above the pre-reform level. Over that initial period, real asking rents per square metre fell 26.6%.
One legal change obviously does not explain every percentage point. Argentina was simultaneously going through a huge inflation shock, recession, exchange-rate changes and a broader economic adjustment.
Still, the supply response lasted. Reporte Inmobiliario says traditional rental inventory has remained around ten times its level before the old rental restrictions were removed. IDECBA has since recorded another high in peso-denominated rental listings.
That persistence is the important part. Apartments returned to long-term renting and, so far, most of that extra supply has stayed in the market.
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Is Buenos Aires running out of rental apartments again?
No. Buenos Aires currently has an unusually large pool of apartments available for traditional rental, especially among studios and one-bedroom units.
IDECBA's newest quarterly study found that peso-denominated rental listings jumped almost 30% from the previous quarter. The stock finished 9% above the previous record set in the third quarter of 2025, making it the highest level in the comparable series.
Reporte Inmobiliario gives us another way to check the same market. Its May survey identified 6,661 active listings for used, unfurnished one- to four-room apartments rented traditionally in pesos. In February, the same survey had found 5,599. That means its observed inventory increased by almost 19% in three months.
The two sources use different methodologies, so those counts should not be blended into one index. Their direction, however, lines up: apartments remain widely available.
This is especially important because the earlier rent crisis was partly a scarcity crisis. When tenants had very few units to choose from, owners could push asking prices much harder. These days, an overpriced studio competes with many alternatives on the same property portals.
| Rental-supply measure | Earlier level | Latest level or change | What we learn |
|---|---|---|---|
| IDECBA peso listings vs previous quarter | — | ≈+30% | Supply expanded sharply |
| IDECBA vs previous historical peak | Previous record = Q3 2025 | +9% | New series high |
| Reporte Inmobiliario sample, February | 5,599 listings | — | Already substantial inventory |
| Reporte Inmobiliario sample, May | — | 6,661 listings | ≈19% more than February |
| Reporte Inmobiliario vs pre-reform era | 1× baseline | ≈10× | Big structural change |
Are small Buenos Aires apartments getting cheaper than family apartments?
Relatively, yes. Studios and one-bedroom apartments face much more competition now, while larger Buenos Aires rentals are showing stronger price pressure.
The latest IDECBA numbers make the split unusually clear. One-room rents increased 32.0% over twelve months and two-room rents rose 31.0%. Three-room apartments increased 34.8%.
The direction changed as well. One- and two-room annual growth slowed by 2.7 percentage points compared with the previous quarter. Three-room growth accelerated by 2.5 points.
Supply helps explain the difference. One-room apartments account for 33.3% of peso-denominated listings and two-room apartments another 41.2%. Combined, apartments with no more than one bedroom make up almost three quarters of available peso rentals.
Three-room properties represent 19.7% of listings. Four- and five-room apartments account for just 5.8%.
For a single renter choosing between studios, the record headline supply is meaningful. A family that needs two or three bedrooms sees a much thinner market. Saying "Buenos Aires has record rental supply" without showing that split gives an incomplete picture.
| Apartment type | Share of peso listings | Annual rent increase | Recent trend |
|---|---|---|---|
| 1 room | 33.3% | +32.0% | Slowing |
| 2 rooms | 41.2% | +31.0% | Slowing |
| 3 rooms | 19.7% | +34.8% | Accelerating |
| 4–5 rooms | 5.8% | — | Very limited supply |
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How much more expensive are the popular Buenos Aires neighborhoods?
A lot more. Renting in Palermo, Núñez or Saavedra can cost hundreds of thousands of pesos more each month than renting the same apartment size in cheaper parts of Buenos Aires.
IDECBA's latest neighborhood data put the average two-room apartment at AR$880,824 in Saavedra and AR$870,185 in Núñez. Constitución averaged AR$635,720 and Floresta AR$649,581.
That puts the gap between Saavedra and Constitución at roughly AR$245,000 every month. The cheaper apartment costs about 28% less without changing the number of rooms.
The gap widens for family-sized housing. A typical three-room apartment reached about AR$1.41 million in Núñez. Montserrat averaged roughly AR$913,000 and Balvanera around AR$957,000. Moving from the Núñez benchmark to Montserrat cuts close to AR$493,000 from the monthly asking rent.
Zonaprop captures an even wider range with its own standardized two-room index. Puerto Madero sits at about AR$1.31 million per month, while Lugano is around AR$656,000. One is essentially double the other.
So a single "average Buenos Aires rent" becomes much less useful once we start looking for an actual apartment.
Are more Buenos Aires landlords asking for rent in dollars?
Yes. Dollar rents now make up a meaningful part of Buenos Aires listings, especially for larger apartments and properties in the wealthier northern neighborhoods.
IDECBA found that 25.4% of all apartments advertised for rent were listed in US dollars during the latest completed quarter. The share rises with apartment size. Almost 30% of three-room units were dollar-denominated, while the figure reached 44% among four- and five-room apartments.
Location makes the divide even clearer. Palermo's Comuna 14, the Belgrano-Núñez-Colegiales Comuna 13 and Recoleta's Comuna 2 together accounted for 61% of all dollar rental listings. Once central Comuna 1 is included, those four areas represented 82% of the dollar market.
That concentration means dollarization is still heavily skewed toward premium areas rather than spread evenly across Buenos Aires.
For tenants earning pesos, the contract currency can matter as much as the headline rent increase. A peso lease with periodic inflation adjustments creates one type of risk. A dollar lease exposes the household more directly to movements in the exchange rate.
It also explains why falling peso-listing shares in neighborhoods such as Palermo or Belgrano do not automatically mean landlords have abandoned the rental market. Some properties have simply moved into the dollar segment.
| Part of Buenos Aires rental market | Dollar-denominated share or concentration |
|---|---|
| All rental listings | 25.4% |
| 3-room apartments | Almost 30% |
| 4–5-room apartments | 44% |
| Palermo + Belgrano/Núñez/Colegiales + Recoleta | 61% of dollar listings |
| Those areas + central Comuna 1 | 82% of dollar listings |
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Can people in Buenos Aires actually afford these rents now?
Affordability has improved slightly on paper, but a typical Buenos Aires rent can still eat up a large part of one person's income.
The latest IDECBA household-income survey puts average total family income in Buenos Aires at AR$2.59 million, up 35.9% from a year earlier. That is slightly faster than recent rent growth of roughly 31% to 35%.
Using IDECBA's current asking-rent benchmarks, a two-room apartment at AR$764,485 takes about 30% of the average family's income. A three-room apartment at AR$1.17 million consumes around 45%.
The problem becomes clearer for someone living on one salary. Argentina's RIPTE measure for established registered workers reached about AR$1.85 million in May. The official Buenos Aires two-room asking rent would absorb more than 41% of that gross wage before expensas, electricity, gas, internet and other housing costs.
And the "average family" is a fairly generous comparison. IDECBA reports large differences inside the city, with household incomes considerably higher in northern Buenos Aires than in the south.
This explains an apparent contradiction in the market. Rental prices are no longer running away from general inflation, yet many residents can still feel heavily squeezed. Stabilizing an expensive rent does not suddenly make the apartment affordable.
Are Buenos Aires landlords making good money from rentals again?
Landlord returns have recovered strongly, with traditional Buenos Aires rental yields now around their best levels in several years.
Reporte Inmobiliario calculated an average gross annual rental yield of 6.22% for used apartments in June. At the end of 2025, the same measure stood at about 5.47%. Its study found two- and three-room apartments producing the strongest average returns.
Zonaprop uses a different property sample and methodology, but its latest gross yield is also much healthier than during the weakest years of the market, at around 5.8%.
Higher yields do not require rents to race ahead of inflation. Property sale prices have been fairly subdued. Zonaprop's latest CABA sale index puts the average apartment near US$2,471 per square metre, only about 1.3% higher over twelve months.
If property values barely rise while nominal rental income keeps climbing, gross rental yields improve mechanically.
The current rental market can therefore work better for landlords even while tenants are no longer suffering the extreme real rent increases seen a few years ago. More properties available for rent and better landlord returns have managed to coexist.
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Is Buenos Aires becoming easier to rent in than Greater Buenos Aires?
Yes, at least when we compare the direction of rents and available supply. The City of Buenos Aires currently looks much less constrained than several surrounding markets.
Reporte Inmobiliario's April study of 13 Greater Buenos Aires locations found rental prices continuing to rise faster than general inflation there. The firm explicitly linked the difference with lower supply.
Its sample covered places including Vicente López, Olivos, Martínez, San Isidro, Tigre, Avellaneda, Quilmes, Lanús, Morón and Ramos Mejía. These markets do not all behave identically, yet the broader result contrasts with CABA, where traditional rental supply remains exceptionally high and real rent growth has been contained.
This comparison is useful because both areas live under the same national inflation, interest-rate and currency environment. The difference in rental behavior therefore cannot be dismissed as an Argentina-wide inflation story.
Local housing availability is playing a major role. CABA brought a large number of units back into traditional rental after deregulation. Greater Buenos Aires has not experienced the same supply expansion everywhere.
Someone saying "Buenos Aires rents are still exploding" could therefore be describing a real experience in parts of the metropolitan area while getting the trend inside CABA wrong.
Could Buenos Aires rents suddenly start rising much faster again?
They could, but there is currently little evidence of another citywide rent surge starting.
The most convincing warning would be a sustained fall in rental availability. We have not seen that yet. As discussed above, IDECBA's latest quarterly data instead reached a new high for peso listings, while Reporte Inmobiliario's comparable sample expanded between February and May.
Larger properties deserve more attention. Their prices are already increasing faster, and families have far fewer units to choose from. A continued shift toward dollar contracts could also make premium areas harder for peso earners even without a dramatic increase in the overall listing count.
Macroeconomic conditions remain the other obvious risk. Current flexible contracts let landlords and tenants choose adjustment mechanisms, frequencies and currencies more freely than under the previous rental law. A new inflation or exchange-rate shock could therefore feed into new contracts relatively quickly.
For a genuine citywide reacceleration, though, we would expect several things to move together: fewer available apartments, a clear return of rent growth above inflation and stronger monthly increases lasting longer than one or two readings.
Those conditions are not showing up together now.
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So, are rents still rising in Buenos Aires?
Yes, Buenos Aires rents are still rising in pesos, but the increase now looks much closer to ordinary inflation than to another rental crisis.
The headline numbers are clear. Zonaprop's latest two-room benchmark is 30.7% above a year ago. Larger apartments are increasing slightly faster in the official data. Tenants searching now are therefore paying more pesos than tenants who searched last year.
The deeper picture has changed much more than that headline suggests. Real rent growth is around zero. Smaller apartments are decelerating. Traditional rental inventory remains exceptionally large. Landlord yields have improved, and rental behavior inside CABA is now noticeably calmer than in some parts of Greater Buenos Aires.
We would be more cautious with family apartments and the northern premium market. Larger units are scarcer, three-room rents are currently growing faster, and dollar-denominated contracts are common enough to create a separate set of risks in Palermo, Belgrano, Núñez and Recoleta.
For the city overall, though, the answer is clear: rents are still going up, but the boom has cooled dramatically. The most useful number to watch from here is no longer the nominal peso increase by itself. What counts is whether rents begin beating inflation again while available supply starts shrinking. For now, neither trend is established.
OUR METHODOLOGY
To answer whether Buenos Aires rents are still rising, we treated the question as more than a simple comparison between this year's rent and last year's. We broke the market into the dimensions that could materially change the answer: nominal and inflation-adjusted rent movements, the amount and composition of available supply, differences between apartment types and locations, contract currency, affordability, landlord returns, and how CABA compares with nearby rental markets.
For each dimension, we prioritized the freshest available evidence and the sources closest to the underlying data. Official IDECBA statistics formed the backbone of the city analysis, which we cross-checked against current market datasets from Zonaprop and Reporte Inmobiliario. National official data were used for inflation, wages and the regulatory framework.
Where sources measured the same market differently, we used them to confirm or challenge the direction of the evidence rather than combining unlike datasets into a single number. Recent readings carried the most weight because the question is about conditions now, while longer historical series were used when they helped distinguish a temporary move from a genuine change in the market.
We also separated segments when aggregation would hide an important difference, including peso and dollar listings, smaller and family-sized apartments, premium and cheaper neighborhoods, and CABA versus Greater Buenos Aires. The final judgment comes from those pieces taken together, with more weight given to evidence that answers the question directly and is supported across more than one dataset.
Key sources used for this analysis include IDECBA's Q2 2026 rental-market study, IDECBA's real-estate data bank, Zonaprop's CABA rental index, IDECBA's July 2026 inflation report, DNU 70/2023, the updated Civil and Commercial Code, the Argentine government's rental-law impact assessment, Reporte Inmobiliario on the post-deregulation rental market, its May 2026 CABA supply study, its June 2026 rental-yield study, its Greater Buenos Aires rental comparison, Zonaprop's CABA rental-yield index, Zonaprop's CABA sale-price index, IDECBA's Q1 2026 household-income report, Argentina's RIPTE wage series, and INDEC's official inflation reports for 2022, 2023 and 2024.
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