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Data reflecting the signals the real estate market is giving: how to understand them and what they say - La Nacion Propiedades
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www.lanacion.com.ar
November 27, 2025
The sector is experiencing a healthy readjustment: listing prices have bottomed out, deeds are not falling, and there are positive signs from the financial system.
By Leandro Molina
The average price of apartments in CABA is US$2449/m2.Daniel Basualdo
The Buenos Aires real estate market is at a turning point . After several years of adjustment and contraction, prices are stabilizing, property transactions are holding steady, and banks are beginning to increase mortgage lending again . According to the index compiled monthly by Zonaprop, the average price of apartments in the City of Buenos Aires (CABA) reached US$2,449/m² in October. This figure shows almost no change in the monthly variation but represents a 5.5% year-on-year increase, marking the first sustained upward trend in seven years. Apartments under construction are leading the increase with an 8.3% year-on-year rise, followed by newly built units (+5.2%) and used units (+3.3%), with a price gap of 31%, the highest since 2015.
On the other hand, the most encouraging sign coming from the financial system is that in November some private banks modified their UVA mortgage rates . For example, ICBC lowered its nominal rate to 1% annually for clients with direct deposit of their salary (previously 13%). Meanwhile, Banco de la Nación Argentina increased its rate for UVA loans for primary residences from 4.5% to 6% APR, the first increase since its relaunch. Even so, it continues to offer the lowest rate on the market and accounts for more than 40% of total loans. This duality— selective reductions in private banks and moderate increases in public banks —shows a system that is readjusting. Private banks are seeking to gain market share, while the public sector is adjusting towards a more sustainable benchmark. This is happening in a country like Argentina, which is starting from a historical low: the stock of mortgage loans is equivalent to just 0.2% of GDP , compared to a regional average of 5–10% and 30% in Chile. This shows the enormous potential of the sector if macroeconomic stability is maintained and banks manage to broaden access to credit.
There is a moderation in the cost of construction, which had been rising steadily and showed a decrease in October. Soledad Aznarez
completed more quickly.
Mortgage lending may once again take center stage in 2026Daniel Basualdo
Finally, the normalization of the rental market is underway . Rental supply has tripled since the low point in 2023, while prices have accumulated a 29.8% increase in 2025 (+2.4% in October). The average gross rent increase is around 4.8% annually, with peaks of 8.5% in Lugano and 7.4% in Nueva Pompeya. This confirms a trend toward greater equilibrium between supply and demand .
Ultimately, this isn't a boom, but a healthy readjustment. If competition among banks strengthens and inflation continues to fall, mortgage lending could once again play a leading role in 2026. For the first time in years, data and perceptions are beginning to align. And when that happens, real estate becomes an engine of growth once more.
www.buysellba.com
Source:
Los datos que reflejan las señales que está dando el mercado inmobiliario: cómo entenderlos y qué dicen
El sector está viviendo un reacomodamiento sano: los precios de publicación encontraron su piso, las escrituras no caen y hay signos positivas del sistema financiero
www.lanacion.com.ar
November 27, 2025
The sector is experiencing a healthy readjustment: listing prices have bottomed out, deeds are not falling, and there are positive signs from the financial system.
By Leandro Molina
The average price of apartments in CABA is US$2449/m2.Daniel Basualdo
The Buenos Aires real estate market is at a turning point . After several years of adjustment and contraction, prices are stabilizing, property transactions are holding steady, and banks are beginning to increase mortgage lending again . According to the index compiled monthly by Zonaprop, the average price of apartments in the City of Buenos Aires (CABA) reached US$2,449/m² in October. This figure shows almost no change in the monthly variation but represents a 5.5% year-on-year increase, marking the first sustained upward trend in seven years. Apartments under construction are leading the increase with an 8.3% year-on-year rise, followed by newly built units (+5.2%) and used units (+3.3%), with a price gap of 31%, the highest since 2015.
On the other hand, the most encouraging sign coming from the financial system is that in November some private banks modified their UVA mortgage rates . For example, ICBC lowered its nominal rate to 1% annually for clients with direct deposit of their salary (previously 13%). Meanwhile, Banco de la Nación Argentina increased its rate for UVA loans for primary residences from 4.5% to 6% APR, the first increase since its relaunch. Even so, it continues to offer the lowest rate on the market and accounts for more than 40% of total loans. This duality— selective reductions in private banks and moderate increases in public banks —shows a system that is readjusting. Private banks are seeking to gain market share, while the public sector is adjusting towards a more sustainable benchmark. This is happening in a country like Argentina, which is starting from a historical low: the stock of mortgage loans is equivalent to just 0.2% of GDP , compared to a regional average of 5–10% and 30% in Chile. This shows the enormous potential of the sector if macroeconomic stability is maintained and banks manage to broaden access to credit.
There is a moderation in the cost of construction, which had been rising steadily and showed a decrease in October. Soledad Aznarez
What happens with the reassessments?
When analyzing the "realism" of prices, it's important to look at the dynamics of price reassessments : there are fewer, indicating confidence. According to the Index, only 25% of listings were reassessed downwards in October, with an average discount of 6%, compared to 37% in 2020 and reductions of 8.4%. This reflects a more realistic market, where listing prices are closer to the closing price and transactions are beingcompleted more quickly.
How much does it cost to build
Construction costs are showing signs of slowing: in dollar terms, they fell 1.5% month-on-month in October, although they remain 26% above the 2012–2024 historical average and almost three times the 2020 lows. This moderation, along with a contained exchange rate gap, is beginning to revive projects that had been put on hold and is improving predictability for developers.
Mortgage lending may once again take center stage in 2026Daniel Basualdo
Finally, the normalization of the rental market is underway . Rental supply has tripled since the low point in 2023, while prices have accumulated a 29.8% increase in 2025 (+2.4% in October). The average gross rent increase is around 4.8% annually, with peaks of 8.5% in Lugano and 7.4% in Nueva Pompeya. This confirms a trend toward greater equilibrium between supply and demand .
Ultimately, this isn't a boom, but a healthy readjustment. If competition among banks strengthens and inflation continues to fall, mortgage lending could once again play a leading role in 2026. For the first time in years, data and perceptions are beginning to align. And when that happens, real estate becomes an engine of growth once more.
www.buysellba.com
