Argentina

Katarina Hall | 9.26.2024 10:00 AM

President Javier Milei's sweeping economic reforms have touched many sectors, but few have felt the effects more acutely than Argentina's housing market. His decision to repeal rent control laws late last year has reshaped the country's rental market, increasing housing supply and stabilizing rents.

The 2020 Rental Law, enacted under former President Alberto Fernández, aimed to protect tenants. It mandated three-year lease terms and required rent to be paid in pesos—a currency rapidly losing value due to rampant inflation. Rent adjustments were limited to once a year, based on a central bank rate that factored in inflation and wage growth. The law also allowed tenants to dictate the conditions for lease termination.

While the law seemed to offer relief for tenants, it backfired. By late 2023, one in seven homes in Argentina sat empty, yet Buenos Aires residents struggled........

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