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The end of the exchange rate controls and the recent stabilization of the dollar have created a new scenario in the construction market. Although real estate sales began to pick up, the cost of building a home has become a key point of analysis for both developers and individuals. Building a 100 m² home can represent an investment ranging from US$100,000 to US$300,000, depending on the materials and finishes chosen. According to industry experts, the cost per square meter starts at a minimum of US$1,000 for low-quality construction, rises to US$1,500 for standard projects, and can reach up to US$3,000 when high-end materials and details are incorporated. This places the price of a typical home within a wide range, although a well-built option is currently estimated at around US$150,000 for a 100 m² surface area. In private neighborhoods or country clubs, the situation is even more demanding. According to data updated to April 2025 by Reporte Inmobiliario, building a 315 m² home within a gated community requires an investment of approximately US$1,026,802. This figure represents a 6.6% increase in the first quarter of the year alone and a year-over-year increase of 65%. The reference model corresponds to a high-quality single-family home, built on an 800 m² lot, with gardens, garages, and two built-up floors. The rising cost of construction in dollars is largely explained by the decline in the exchange rate of the parallel dollar (blue or MEP), historically used as a benchmark in the sector. While the prices of inputs and services continued to adjust for inflation, the US currency remained stable or even fell, generating an imbalance in the relationship between currency and costs. This affects not only developers but also those already working on projects. Builders and homeowners warn that this dynamic complicates financial planning: while prices in pesos may seem more affordable, more dollars are required to move forward with the same project. This reduces the profitability of developments and discourages new initiatives, while placing a greater burden on those looking to build their first home. |
