This post is also available in: 
Español 
Português
The repeal of the controversial rental law, the consolidation of in-person university attendance, and a shifting exchange rate landscape have defined a student real estate market in Buenos Aires that roared back to life at the end of 2022, accelerated through 2023 and 2024, and enters 2026 on new footing following a sweeping regulatory overhaul.
The surge in foreign students, a structural supply shortage — now partially easing — the deregulation brought by DNU 70/2023, and the ever-present competition from temporary-use properties have kept the real estate market for university students in Buenos Aires a segment that moves early. Savvy families still begin their search in December to have everything settled before classes begin in March.
María Franco, country manager of Mudafy, notes that the market’s reactivation — first observed post-pandemic — has now matured into a stable, competitive dynamic. “During the pandemic, virtual classes caused a drop in demand from students. Post-pandemic, even with some hybrid schemes, most universities require attendance, and that drove a full recovery in demand,” she explains. With face-to-face classes now firmly re-established, the student real estate market has normalised at high activity levels.
Luciana Noli, manager of Noli Propiedades, notes that families of young people seeking apartments — many from Greater Buenos Aires and the interior — continue to arrive early because competition remains fierce. “Many families start in December to secure a unit for March or to allow time for renovations before classes start,” she says. The best properties continue to go quickly: in Palermo, Recoleta, and Belgrano, well-priced units now find tenants within 15 to 25 days.
A New Regulatory Landscape
The most significant structural change since the original article is the repeal of Law 27.551 by DNU 70/2023, signed by President Javier Milei in December 2023. The decree eliminated the mandatory three-year contract term, removed the obligatory annual update index, and — critically — allowed contracts to be denominated in US dollars, something the previous law had restricted. Claudio Vodánovich, Secretary General of the Argentine Real Estate Chamber, had long warned that the old law was driving rentals into informal circuits; that pressure has now been relieved, and the supply response has been dramatic. According to the Federación Inmobiliaria de la República Argentina (FIRA), the rental supply in Buenos Aires grew by 170% in the year following DNU 70/2023.
The vacancy rate for Buenos Aires rentals, which was near zero in 2023, now sits at approximately 4% as of early 2026 — still tight in Palermo and Belgrano, but a significant improvement in market functionality. Peso rents increased 30% to 45% year-over-year in 2025, tracking inflation, while USD-denominated rents rose a more moderate 15% to 30%.
Foreign Students: A Changing Picture
Foreign students remain a major driver of the student rental market, but the dynamic has shifted considerably. Between 2015 and 2023, the number of foreign students at Argentine public universities increased by more than 135%, reaching nearly 83,000. However, in May 2025, the Milei government issued Decree 366/2025, enabling public universities to charge tuition fees to non-permanent foreign residents — a historic shift from Argentina’s tradition of free public university education. Each university may decide independently whether to implement fees and at what level.
This policy change introduces new uncertainty for the flow of foreign students who have historically chosen Buenos Aires precisely because private university costs remain far lower than in Brazil or other regional peers. “It is much cheaper to access a private university in Buenos Aires than in Brazil,” Real Estate Report director Germán Gómez Picasso had noted — and that advantage, for private universities, remains firmly intact. Around 95.8% of foreign students in Argentina come from other American nations, with neighbouring countries being the most dominant.
Guadalupe Sanz, Director of Admissions at Torcuato Di Tella University, had previously reported a 35% increase in incoming foreign exchange students. Di Tella’s more than 140 international university agreements continue to feed demand in the private segment, which is unaffected by the new tuition rules.
Pricing and the Rental Market in 2026
As of early 2026, the average monthly rent for a studio apartment in Buenos Aires is approximately ARS 550,000 (around USD 525), while USD-listed studios typically rent for around USD 700 per month. Student rooms in shared flats average around USD 588 per month. Furnished rentals command a 20% to 40% premium over unfurnished units, particularly relevant for foreign students arriving for exchange semesters.
For investors, the student rental segment remains appealing. Traditional long-term rentals now yield between 2% and 4% annually, while temporary-use rentals — including student-oriented furnished apartments — can generate up to 7.3% annual returns in USD, more than double the returns of traditional rentals, according to market operators. This gap has caused many well-located property owners in Palermo and Recoleta to pivot toward furnished temporary rentals for the student and expat market.
New Developments in Palermo
Palermo remains the anchor neighbourhood for student real estate in Buenos Aires, buoyed by the presence of the Universidad de Palermo and its surroundings. The price per square metre in Palermo in 2026 now ranges between USD 2,800 and USD 5,000/m², depending on subzone, property type, and amenities, with Palermo Soho and Palermo Hollywood commanding the highest prices. This compares with the USD 2,900–3,700/m² range recorded in the 2022 survey cited in the original article, and reflects the broader market recovery underway since 2024.
According to UADE’s August 2025 market report, the average asking price per m² across the key neighbourhoods of Recoleta, Palermo, Belgrano, and Núñez reached USD 3,393—3,827/m² for new units and USD 2,281/m² for used properties. The typology most prevalent in new student-oriented developments continues to be studio apartments, followed by one- and two-bedroom units, which match student demand profiles.
The areas most sought by students continue to form a broad circuit anchored by good transport access and proximity to universities: Recoleta near the Faculty of Engineering and the Línea D subway corridor, followed by Palermo, Belgrano, and Núñez offering two- and three-room apartments. Post-pandemic preferences for outdoor spaces, natural light, and areas designed for remote work remain embedded in tenant expectations.
Latin American Real Estate News Options
Founded in 2004, GTSA began as a single office in Buenos Aires. Since then, it has grown into a vibrant regional network, providing professional real estate marketing services to clients in AR, BR, CL, PY, PE, and UY.
