he It costs To build a house Argentina is going through a moment of relative stability in terms of the exchange rate, but with signs of improvement in inputs measured in pesos. According to the latest survey conducted by the Building Association of Buenos Aires Province (Apymeco), the value of one square meter (m2) was US$1,358.46 per square meter in October 2025.
This value reflects a change between years in the general index of 26% and represents an increase in the general index dollar almost 3% Compared to the previous month.
To get an indication of the last cycle, at the peak November 2023before the initial devaluation of Javier Miley’s government, the cost of construction in dollars had risen to approx 1800 US dollars.
After adjusting the exchange rate in December, the cost per square meter fell to $1,050 USD.
The current value is below that historical peak, but well above the $850 average during the first half of 2020..
At the peak in November 2023, the dollar cost of construction had risen dramatically to nearly that
Evolution of construction costs in Argentina
Apymeco report – who is thinking about building A 9-storey building or a house of 80 square meters – indicates that the cost development is slowing down compared to the previous year. The monthly increase in the general index in October 2025 was 2.99%, indicating that the increase in construction prices is still on a path slightly higher than the general inflation for that period, although the materials category showed a stronger acceleration.
In segmentation by element, component Materials It showed a monthly variation of 4.41%, while the Workforce category increased by 1.12% and the Third Party Savings category increased by 2.49%.
At the specific input level, it is robust Hiking In cement (14.90%), concrete (6.06%), and sanitary appliances (5.62%). On the other hand, some items, such as vehicle slope, adhesive mixture, and water installation materials, recorded slight decreases.
In the last ten years, the cost of construction has been measured dollar It was an irregular flight. In 2015, it took less than US$600 per square meter to build an average home. Since the 2020 floor, the curve has remained upward: in 2023 it exceeded 1,700 US dollars, and today it is at a stable level after the exchange rate correction.
Subjects showed a monthly variation of 4.41%
Factors that determine cost
Gustavo Serafin Marin, President of Apymeco, noted that the current values reflect a change in the dynamics of the sector. “The overall rate of increase in materials has decreased compared to last year, Although we saw an acceleration in October driven by key inputs like cement. The workforce remains more stableHe explained that there are still important differences between the governorates.
The businessman stressed that the most important point in jurisdictions such as La Plata is obtaining permits Construction site. “Administrative times have become an economic risk factor. Delay in approval can alter the entire planned cost scheme,” he noted.
For a typical house of 100 square metres It costs The estimated total is about $186 million (not including land or taxes). If basic construction is carried out, the value starts from 1000 US dollars per square meter, while working with high-quality materials is closer to 2000 US dollars. In the case of premium homes, a square meter can exceed US$2,500, depending on finishes and equipment.
Serafin Marine noted that the analysis must take into account costs before the official start of the project. “there Bills Which are often underestimated, such as professional fees, visa fees, soil studies and building rights. “All this could represent several million pesos before the first stone is laid.”
Actual cost versus market: the new minimum price
Far from average indicators, the real cost of building a quality house today is at a high level. German Gomez Picasso, of Reporte Inmobiliario, explained that “today it is practically impossible to build residence Decent and habitable for less than US$1,500 per square metre.” This value, which represents the basis of an average quality building, can exceed US$3,000 or US$4,000 in higher category projects, although luxury is not mentioned.
In the same vein, architect Gabriela Correa, who specializes in projects, management and implementation of new works and remodeling, noted that a standard build starts at around US$1,600 and can reach up to US$2,000. In his estimation, An economical home is close to 1300 US dollars per square meterWhile premium homes exceed US$2,000 per square metre, with wide variations depending on finishes.
From the point of view of SuppliersPablo Gaitan, of Coralón Ciudadella, estimated the average cost at about US$1,100 per square metre, with variations depending on the quality of the finishes, showing a wide dispersion of prices depending on the type and materials chosen.
The gap with used: Is it better to build or buy?
The gap between construction costs and property value Properties For sale appears as a central theme. “The sale value of a used property is much lower than the cost of replacing the same property again,” Gomez Picasso noted. “This difference should be in the opposite direction, because otherwise builders lose incentive.”
Korea agreed to this, while at a cost Builds Valued at about US$2,500 per square meter when land value, taxes and project are added, used homes are offered between US$1,800 and US$2,100 per square meter in the city, depending on the neighborhood and type.
For his part, Gaitan added that with current costs of US$1,100 or US$1,200 per square meter compared to US$700 or US$800 a few years ago, “buying a used property today is more competitive than buying a new one.” this gap It creates a direct disincentive for developers and individuals seeking to build and then sell, redirecting demand toward existing inventory.
Items and Increments: Labor and Materials
With regard to the formation of increments, Specialists pointed out that adjusting prices equally affects materials, labor, and overhead expenses.
Gomez Picasso noted that “there is no notable clause, the increases are equal to the general inflation rate.” However, Gabriela Correa noted that in recent months she has noticed greater increases in labor than in materials, which puts emphasis on the need to integrate Systems More efficient construction in time and human resources.
Apymeco data from October 2025 supports this complex dynamic: exhaustion (39.36% of the total cost) is the most important element, and any adjustment in salary directly affects the final price.
The current context shows a change in behavior in the construction sector, marked by the end of the “cheap dollar” and the entrenchment of high replacement costs. As Serafin Marin pointed out, he concluded, “The margin for improvisation is becoming less and less.”