Javier Milei ends rent control and real estate market experiences a major shift

Argentina has seen significant changes in its rental market following the repeal of rent control laws. In 2023, real rent prices rose approximately 50 percent in the Buenos Aires metropolitan area, as landlords were encouraged to place their properties back on the market. Previously, rent controls discouraged property owners from renting out their homes, leading to a dramatic increase in short-term rentals through platforms like Airbnb—jumping from 10,000 listings in 2019 to 29,500 by January 2024. The situation created challenges for tenants, who found themselves navigating excessive rental costs and limited housing options. Many resorted to expensive and unreliable temporary arrangements, as available long-term rentals dwindled. The Ministry of Deregulation’s data indicates that although rent prices have surged, the overall sentiment in the market has shifted towards greater availability and favorable opportunities for both landlords and tenants. The repeal of rent control laws has led to landlords reassessing their strategies in the face of inflation and tenant reliability risks, creating a more dynamic rental landscape where real rents are beginning to stabilize. However, this shift has also elicited mixed feelings among tenants who previously benefited from capped rental prices, highlighting the complexities within Argentina's housing sector.