Buenos Aires ($14/sqft, 17.4% vacancy) and Santiago ($24/sqft, 9.4% vacancy) compete on different axes: Buenos Aires on talent depth and Santiago on rent and tax.
Buenos Aires ($14/sqft, 17.4% vacancy) and Santiago ($24/sqft, 9.4% vacancy) compete on different axes: Buenos Aires on talent depth and Santiago on rent and tax.
| Metric | Buenos Aires | Santiago |
|---|---|---|
| Region | Americas | Americas |
| Country | Argentina | Chile |
| Class A rent (USD/sqft/yr) | $14 | $24 |
| Class A rent (local) | 14 USD | 22000 CLP |
| Vacancy | 17.4% | 9.4% |
| Trend | flat | rising |
| Prime yield | 8.8% | 6.6% |
| Premium flex / seat / month (USD) | $280 | $380 |
| Submarkets covered | 5 | 5 |
| Corporate tax | 35% | 27% |
| Metric | Buenos Aires | Santiago |
|---|---|---|
| Typical term | 5 yrs | 5 yrs |
| Typical rent-free | 5 mos | 4 mos |
| Lease norms | Net leases. 3-5 year terms. Trophy international leases predominantly USD-denominated with USD payment required. Domestic peso leases include high inflation indexation. | Net leases. 5-year terms with renewal options. Free rent of 3-6 months and TI of CLP 280,000-500,000/sqm typical. UF (Unidad de Fomento) inflation indexation common. |
| Tax note | 25-35% Argentine federal corporate income tax (graduated). 21% VAT. Gross income tax (provincial), various municipal taxes. FX restrictions and capital controls historically apply. | 27% Chilean corporate income tax. 19% VAT (IVA). UF (Unidad de Fomento) inflation indexation applies to many contracts and rents. |
| Metric | Buenos Aires | Santiago |
|---|---|---|
| Talent index (0–100) | 82 | 80 |
| Talent note | Deepest tech engineering and creative talent in Latin America (per capita). Strong feed from UBA, ITBA, UADE. Spanish-English bilingual professional base. Cost arbitrage versus US/Europe is structural — material for tech engineering services. | Deep mining, banking, and retail talent. Strong feed from Pontificia Universidad Católica, Universidad de Chile, Universidad Adolfo Ibáñez. Spanish-English bilingual professional base. |
Buenos Aires: Buenos Aires Subte (6 lines), Metrobús (BRT), commuter rail (Sarmiento, Mitre, San Martín, others). Ezeiza International Airport (EZE) bus-served; Aeroparque (AEP) closer to the city.
Santiago: Santiago Metro (7 lines, the largest in Latin America by length). MetroTren commuter rail. Santiago International Airport (SCL) connected via Línea 7 (planned) and bus.
Buenos Aires is the cheaper Class A market on a USD basis.
Buenos Aires has the deeper talent index (82/100 vs 80/100).
Santiago has the lower headline corporate tax (27% vs 35%). Local incentives can change the effective rate materially.
Buenos Aires typical term is 5 years with 5 months free; Santiago runs 5 years with 4 months free.
Buenos Aires: Buenos Aires Subte (6 lines), Metrobús (BRT), commuter rail (Sarmiento, Mitre, San Martín, others). Ezeiza International Airport (EZE) bus-served; Aeroparque (AEP) closer to the city. Santiago: Santiago Metro (7 lines, the largest in Latin America by length). MetroTren commuter rail. Santiago International Airport (SCL) connected via Línea 7 (planned) and bus.
Score Buenos Aires, Santiago and up to two more markets side-by-side on Class A rent, vacancy, talent, corporate tax, and premium flex pricing — all in USD.
Reviewed by Miriam Hollander — Lead market analyst. Last updated 2026-04-15. See our methodology and editorial standards.