Four years after the imposition of US dollar currency controls, average real estate prices are still posting double-digit declines across Argentina.

Due to the Lack of Dollars, The Price of Apartments Fall In Almost All of Argentina is the headline of today’s analysis in El Cronista showing the average price of existing properties fell in 20 out of 25 real estate markets in Argentina.

The data from Reporte Inmobiliario track the one-year price change for 2 and 3-room apartments. The Argentine markets posting the largest YOY price drop are Trelew (-17%), Tucuman (-16%), Jujuy (-14%), Santiago del Estero (-13%), Santa Fe (-13%) and Rosario (-12%).

The five Argentine real estate markets posting YOY gains are Salta (+9%), Parana (+4%), Cordoba (+3%), Mar del Plata (+1%) and Catamarca (+1%).

Et tu, BA? Buenos Aires average real estate prices fell 7% between 2013 and 2014, but still Buenos Aires maintains the highest average price per square meter, US$1,693 or US$157 per square foot, of the 25 real estate markets surveyed in Argentina.

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