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Argentina Rent Updates for September: Legacy ICL Leases Set for ~50% Rise as IPC-Based Adjustments Await New Data

Shifting rules since DNU 70/23 leave renters facing very different updates depending on when their contracts were signed.

04-12-2024 - Buenos Aires Nuevo billete de 20.000 pesos. Foto: Luciano Thieberger. FTP CLARIN IMG_20241204_094918.jpg Z Invitado
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Overview

  • Clarín calculates that annual updates under the old ICL regime would imply a 50.3% increase in September, based on BCRA data showing the index rising from 18.05 to 27.14 in a year.
  • Contracts updated by IPC on a quarterly basis still await August inflation, with INDEC scheduled to publish that figure on September 10.
  • Clarín’s calculator indicates a provisional 5.5% quarterly rise using a projection, or about 5.1% if parties apply the last three published IPC months (May–July).
  • Leases signed from December 30, 2023 follow DNU 70/23, allowing landlords and tenants to freely agree on the index and frequency of updates, often using IPC every three or four months.
  • El Cronista reports that owners may seek increases outside the original terms only with tenant consent, with dispute assistance available through Defensa del Consumidor or tenant associations, as listed rents in CABA rose 2% month over month and 43.9% year over year in July per Zonaprop.