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A report revealed that the cost of building housing in gated communities rose sharply in October. Will the price continue to rise?
How much does it cost to build a house of more than 300 square meters
How much does it cost to build a house of more than 300 square meters
Houses in gated communities have once again reached a historic record in relation to the values ??of the last decade. With the fall of the dollar, properties under construction in gated communities have once again reached, as in April of this year, an unprecedented figure. In that month, the cost to build a house of these characteristics had reached US$755,128, but now it has surpassed the barrier of US$800,000. Even in pesos, the value has surpassed $1 billion.
Building a 315 m² house in a country house already exceeds $1,000 million in pesos, an increase of 243% compared to last year
Building a 315 m² house in a country house already exceeds $1,000 million in pesos, an increase of 243% compared to last year
The latest available data indicates that in October, building a 315 m² house in a gated community cost US$874,098, with a value of US$2,774/m², according to the most recent report from Reporte Inmobiliario. How much has it increased in one year? Comparing October of this year with the same month last year, there is an increase of 167%.
In the last decade, excluding records reached in 2024 such as the one in April, the highest peak had been in 2018, with a value of US$1,817/m². However, at present, this figure is 52.7% higher than that recorded at that time. If we analyse the monthly variation, compared to September, there was an increase of 11%, since in that month the value of a 315 m² home was US$786,544.
Housing in gated communities registered a historic increase in October, driven by the fall of the dollar and the rise in costs in pesos
Housing in gated communities registered a historic increase in October, driven by the fall of the dollar and the rise in costs in pesos
Luciana Mata
Why does the cost of construction per m2 continue to increase?
The rise in construction prices for this type of property is explained by the fall of the dollar in recent months, coupled with an increase in costs in pesos. These two factors have caused more and more dollars to be needed to build the same square meter, according to Germán Gómez Picasso. In other words, the fall of the US currency has once again led to an increase in the cost in dollars, and this trend is expected to continue in the coming months due to the depreciation of the dollar.
"The outlook is very complicated for builders who have already seen a decline in orders for new construction for months; the reality is alarming," said Germán Gómez Picasso, founder of Reporte Inmobiliario.
If we convert the value to Argentine pesos, building a house in a country estate exceeded $1 billion. In October, the cost reached $1,031,436,720, 243% more than in October 2023, where the price per square meter was $3,274,402.29. “It is important to note that in pesos it is always more expensive, and will continue to increase, even though inflation has slowed down. The true indicator of value is the cost in dollars,” explained Gómez Picasso.
Future expectations
“The new figure is worrying and, if the dollar were to fall to $1000, the cost of this type of housing could rise abruptly,” analyzed the founder of Reporte Inmobiliario. In fact, economist Esteban Domecq anticipated that the US currency could reach that level in the near future. |
