The rental sector in Córdoba began to show a clear process of normalization after a period of intense political and economic uncertainty. The months of September and October were strongly affected by the electoral climate, but November brought positive signs that boosted commercial activity. The consulting firm Economic Trends and CEI prepared the Real Estate Activities Monitor with this data reflecting the improvement.
The Professional Association of Real Estate Agents of Córdoba (CPI) highlighted a strong return of the formal supply of properties, with a more orderly price trend. Demand is quickly absorbing the properties available on the market, which creates an encouraging outlook for property owners. The only aspect that continues to show weakness is the buying and selling operations, which are waiting for concrete macroeconomic signals.
Since the repeal of the previous rental law at the beginning of Javier Milei's government, the supply of properties for rent in Córdoba increased by 84.7% through November. However, in the last three months (September to November) this supply stabilized at 13.8% above the level recorded in April 2021. This quarterly stabilization suggests that the supply has stopped growing explosively, consolidating current levels.
Lucas Péndola, presidente del Colegio Profesional de Inmobiliarios de Córdoba
Key improvement indicators
Delinquency in the payment of residential leases showed a notable decrease, dropping from 6% recorded between August and September to 5.6% in November. The lowest point of debt was reached in October, when this critical indicator stood at just 3.7% of all contracts. In commercial properties, an even more marked improvement was observed, decreasing from 8% in October to 4.3% the following month.
Additionally, the number of vacant or unoccupied homes also returned to usual levels after a peak. The vacancy indicator had risen to 8.3% in October, but contracted to 4.4% in November, matching previous averages. Properties intended for commercial premises showed a smaller decline, dropping from 4.8% to 4.2% vacancy in the same period.
Lucas Péndola, who chairs CPI, stated that the professional market has left legal uncertainty behind and is once again operating with clear and transparent rules. "Today we have a formal market that has left regulatory uncertainty behind and is once again operating with clear rules; the professional supply has returned strongly," the leader emphasized to a local media outlet. New contracts are being renewed at higher values, given the significant price lag caused by the previous law.
