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last mo.

Rent Index Plunges to 39.32% as Córdoba Rents Climb and Vacancies Rise

IPC-based updates under new rules are moderating increases on recent contracts.

Según los últimos informes divulgados por el CEI-CPI, se duplicó la vacancia en el segmento habitacional, si bien aún no llega a niveles preocupantes.

Overview

  • Argentina’s BCRA Lease Contract Index (ICL) falls to 39.32% for December updates, the lowest since its creation after peaking at 265.05% in July 2024 amid disinflation.
  • In Córdoba, new lease values rose sharply versus prior contracts: +22.9% for apartments, +46.5% for houses, and up to +66.7% for commercial units, signaling strong affordability pressure.
  • CEI-CPI data show a clear shift to IPC as the adjustment benchmark in new agreements, typically with quarterly updates, under the DNU 70/2023 framework that lets parties set index and frequency.
  • Córdoba’s advertised rents remain above year‑to‑date IPC (+22%) and ICL (+28.8%), while formal rental supply expanded (+85.5% vs 2023) and vacancy increased to 8.3% in housing and 4.8% in commercial.
  • Leasing activity in Córdoba contracted sharply with October 2025 rental operations down 55.7% year over year, even as payment compliance stayed high at 96.3% for housing and 92.1% for commercial tenants.