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Sky-high costs: building a house in a gated community is once again at record levels - Ambito Financiero
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Costos por las nubes: construir una casa en un country está otra vez en niveles récord
La baja en la cotización del dólar, combinada con una inflación que aún no cede empuja los costos de construir al alza.
www.ambito.com
April 20, 2026
The drop in the dollar exchange rate, combined with persistent inflation, is pushing construction costs upwards.
The cost of construction is not decreasing.
The cost of building a house in a gated community or private neighborhood has once again reached record highs. Despite a slight improvement recorded during the second half of 2025, inflation in pesos continues to put downward pressure on prices, and the increase in the exchange rate is not offsetting this effect.
According to a survey by Reporte Inmobiliario, the cost to develop a premium-category home, including taxes and professional fees, is around $4.9 million per square meter . In that context, building a 315 m² house requires a total investment exceeding $1.531 billion .
The data confirms a trend that worries developers, builders, and owners: costs measured in dollars remain high . While they had shown a sustained increase for 19 consecutive months, the scenario began to change in the second half of 2025, when somewhat more moderate inflation in pesos and a rising dollar allowed for some recovery.
However, the beginning of 2026 changed the landscape once again. The drop in the dollar's exchange rate, combined with inflation that has yet to fully subside, pushed costs upward again in real terms.
Values above the 2018 peak
Current values not only remain high, but are above the peak recorded in 2018, a period that until now served as a historical reference for the sector.This scenario is beginning to have concrete consequences: demand is showing signs of cooling, and caution is growing among those considering starting a project. It is also impacting the entire supply chain, from building material suppliers to developers.
Industry experts warn that uncertainty remains the primary constraint. The biggest unknown is how inflation in pesos and the dollar exchange rate will continue to evolve. In this context, the report maintains that setting prices is becoming increasingly complex, making it very difficult to establish a fixed cost in dollars or even in pesos in the long term. “The only way to begin a project is to start with a cost measured in pesos and update it monthly based on a reliable index,” stated Reporte Inmobiliario.
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