With the increase in the minimum wage, the time required to purchase a home in CABA dropped from 129 to 85 years
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Access to homeownership continues to be one of the main challenges for Argentine workers, particularly for those who earn the minimum wage.
Despite recent updates to minimum wages, a private report reveals that, on average, a person earning the basic wage would need to save their entire income for 85 years to purchase a standard 100 square meter (1,076 square feet) home in Buenos Aires City.
el valor promedio del metro cuadrado en la capital del país se ubica en torno a los US$ 2.358.
According to the survey, the current minimum wage in Argentina amounts to $313,400, which is approximately 232 dollars based on an exchange rate of $1,350 per dollar. Meanwhile, the average price per square meter in the country's capital is around US$ 2,358, which raises the price of a 100 m² (1,076 square feet) property to US$ 235,800.
Although this figure represents an improvement compared to the 129 years shown by the same calculation in March 2024, the number still places Argentina in last place for housing affordability in Latin America.
The report compares the local situation with other cities in the region. Thus, while in Rio de Janeiro the estimated time to buy a similar home is 65 years, in Lima it takes 64 years, in Mexico City 56 years, and in Montevideo 46 years. Quito, on the other hand, appears as the most affordable city, with only 22 years needed to achieve the same goal.
The analysis was carried out by cross-referencing three key variables: the average price per square meter in Buenos Aires(US$ 2,358), the current minimum wage($313,400), and the reference dollar exchange rate ($1,350). The results reveal a complex outlook for those aspiring to homeownership, in a context marked by persistent inflation, limited access to mortgage credit, and a real estate market that is heavily dollarized.
Gráfico elaborado por La Derecha Diario.
According to the Latin American Real Estate Survey conducted by the Finance Research Center at Universidad Torcuato Di Tella in March 2024, "an Argentine must work 129 years to own their own home". The improvement in the indicator, which dropped to 85 years, is partly due to the update of the minimum wage and certain adjustments in the market.
Although the numbers continue to reflect a critical situation, the national government keeps that the recovery of purchasing power and the creation of formal employment are key factors in reducing the time needed to access housing.
In this regard, it aims to restore Argentines' wages by promoting the development of the private sector and generating jobs that integrate millions of workers into the formal economy.
