The real estate market of Córdoba ended 2025 with clear signs of recoveryalbeit with uneven performance throughout the year. According to the Córdoba Real Estate Chamber (CaCIC)cumulative sales grown by 23% compared to 2024in an environment marked by a strong start and a slowdown in the second half of the year.
The first semester was exceptional, with record-breaking months the highest sales in the last eight yearsalthough the historical highs of 2017 have not yet been reached. The second half of the year, on the other hand, was due to the election process and political instability, which led to months with an even lower business volume than in the previous year.
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As for the business profile, in 2025 the sale of used properties by private individuals dominated, a segment that CaCIC defines as “residual”. Development product participation was lower, in a scenario where used properties assess their value based on the logic of supply and demand, while new properties do so based on current construction costs.
This dynamic led to strong absorption of available inventory and cemented an upward trend in prices that industry leaders said would continue in the short and medium term.
The phenomenon of mortgage credit
Mortgage loans exhibited erratic behavior. After 2024, which marked the relaunch of the system, the first months of 2025 were characterized by positive expectations. During this period, operations financed exceeded 10% of the total volume, reaching peaks of 14.5% in Córdoba. However, from the second semester, the increase in interest rates and the adjustment of bank disbursements led to a significant decrease in consultations and operations, which in November represented only 2.6% of the total.
CaCIC and the Chamber of Real Estate Agents agree to define 2025 as a transition year for mortgage lending, with disbursements focused on previously started portfolios and keeping in mind an eventual improvement in financial conditions in 2026.
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The year marked a turning point in the rental market. Two years after the deregulation pushed forward at the end of 2023, the industry has put the supply crisis behind it. Freedom of contract made this possible The inventory of rental properties grew by more than 170%, which puts an end to waiting lists and moderates prices.
In the commercial real estate segment, however, there was a progressive normalization. The vacancy rate has risen from 1% in the first half of the year to 3% today, a level that experts consider to be technically sound. This process was accompanied by the development of new trade corridors in expanding areas such as Camino San Carlos and Manantiales, which contributed to the decentralization of demand.
Looking ahead to 2026, the Córdoba Real Estate Chamber points out that the continuity of the recovery will depend to a large extent on the consolidation of confidence and the evolution of the macroeconomic context. The reactivation of mortgage credit appears to be a key factor, although still uncertain, in a market that shows potential but remains very sensitive to economic and political variables.
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