Bathroom and kitchen renovations in Buenos Aires hold steady in dollar terms despite peso cost increases

Renovating a standard apartment bathroom and kitchen in Buenos Aires remains a significant investment, with current costs hovering around US$12,904. This figure, based on a May report by Reporte Inmobiliario, has held steady in dollar terms compared to a year ago, despite substantial increases in peso costs. The cost to renovate a bathroom has climbed 20.91% in pesos annually, while kitchen renovations saw a 16.55% increase in the same period. The stability in dollar terms is largely attributed to currency fluctuations.

Germán Gómez Picasso, founder of Reporte Inmobiliario, noted that the rising costs of labor and materials, coupled with the dollar's movement within its current band, make a price decrease unlikely. "It is very unlikely that costs will break this floor downwards," he stated. The overall cost of construction continues to rise, with a 2.7% increase in May alone, accumulating a 12.8% rise year-to-date according to Argentina's INDEC.

Factors contributing to these escalating costs include constant increases in materials and labor, the rising price of construction commodities, and a shortage of specialized labor. A bathroom renovation, covering approximately 3.75 square meters, is estimated at $8,803,087 pesos. This includes labor and materials for plumbing, fixture replacement, tiling, and painting. A larger kitchen renovation, around 5.6 square meters, is estimated at $9,650,287.34 pesos, encompassing demolition, new fixtures, tiling, and plumbing for water, drainage, and gas.