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After the deregulatory decree, there is a record number of rental offers in Greater Buenos Aires: What are the prices by area and location? - Infobae
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Tras el DNU desregulatorio hay récord de oferta de alquileres en el Gran Buenos Aires: cuáles son los precios por zona y localidad
Un análisis privado reveló que con más de 20.000 unidades, se recuperó el nivel histórico. Los valores, de las locaciones más caras a las más baratas
www.infobae.com
July 27, 2024
A private analysis revealed that with more than 20,000 units, the historical level was recovered. The values, from the most expensive locations to the cheapest
By Jose Luis Cieri
Vicente López, among the most sought-after areas for buying, selling and renting houses in the north of Greater Buenos Aires
Currently, there are more than 20,000 properties for rent in the different corridors of Greater Buenos Aires (GBA), which marks a return to the historical levels of housing supply for rent after the repeal of the Rental Law by the DNU. The dynamics have changed because now the owners of apartments, houses or PH understand that they can make free agreements between parties with fewer regulations and with contracts that usually extend to a maximum of two years.
For tenants, however, prices remain high for wage earners who do not have a roof of their own and must rent.
In the north, prices rose by 3.5% in June and have accumulated a 42% increase in the first half of the year, according to an analysis by Zonaprop.
A two-room apartment of 50 square meters is rented for $411,526 per month, while a three-room apartment of 70 m2 is rented for $604,442 per month.
Source: Zonaprop
La Lucila, in the Vicente López district, stands out as the neighborhood with the highest rental price, at $503,607 per month. It is followed by Olivos and Nordelta, with average prices of $498,683 and $491,742 per month, respectively.
At the other end, Los Polvorines offers the cheapest rent at $269,986, followed by José León Suárez at $280,904 and San Andrés at $306,594 per month.
In GBA West-South, rental prices increased by 44% in the first half of 2024, with a 4.1% increase in June. Currently, a two-room apartment is renting for $299,728, while a three-room apartment is listed at $396,369 per month.
Source: Zonaprop
Ezeiza is the most expensive neighborhood to rent in this area, with an average price of $395,363 per month. It is followed by Canning and Sáenz Peña, with average prices of $373,947 and $348,119 per month, respectively.
Florencio Varela, Moreno and Berazategui are the most affordable locations, with average prices of $223,775, $227,416 and $235,418, respectively.
Per square meter
According to Zonaprop, the sale price of apartments in GBA north is USD 2,211 per m2, up 0.8% in June and accumulating an increase of 2.1% in the first half of the year. The average value is 38% above GBA west-south (USD 1,598) and 3% below CABA (USD 2,269 per m2).A two-room apartment of 50 m2 in GBA North costs USD 109,425, while a three-room apartment of 70 m2 costs USD 164,201.
Source: Zonaprop
La Lucila leads as the most expensive neighborhood (USD 3,279 per m2), followed by Vicente López (USD 3,205) and Olivos (USD 2,925 per m2).
The most affordable are José C. Paz west (USD 949), Barrio Infico (USD 957 per m2) and José C. Paz center (USD 958 per m2).
In GBA West-South, the sales price rose by 0.2% in June, reaching USD 1,598 per square meter, remaining stable in the first half of 2024.
A two-room apartment of 50 m2 costs USD 79,569, and a three-room apartment is listed at USD 116,395.
Malvinas Argentinas (USD 2,903 per m2), Don Bosco (USD 2,722) and Tristán Suárez (USD 2,654 per m2) are the most expensive neighborhoods, while San José (USD 502), Don Orione (USD 637) and El Jagüel (USD 749 per m2) are the most affordable.
In Ballester
Alejandro J. Altamirano , from Altamirano Properties, indicated that the rental offer in Villa Ballester expanded significantly after the implementation of the DNU. Before, there were only 25 apartments published for rent on some portals; now there are almost 125, five times more.Rental prices in that area of San Martín have remained behind inflation. Currently, a two-room apartment in Villa Ballester can be rented for $350,000 a month. Three-room apartments start at $500,000 a month.
“Two-year contract conditions and quarterly updates are the most accepted. Areas close to stations and shopping centres, especially Chilavert Oeste, are the most in demand and have seen an increase in the quality of services,” added Altamirano.
As for buying and selling, the central areas of Villa Ballester and San Martín are the most in demand, although also the most expensive. Currently, there are two operations underway with UVA credits, but the inquiries have cooled down a bit due to the volatility of the dollar in the last two months. A two-room apartment in the center of Villa Ballester is available for around USD 85,000, while a brand new one starts at USD 100,000.
West
The dynamics of the real estate market between Merlo and Morón experienced important changes in the last quarter. In the rental sector, the offer grew by 150% after the DNU.
According to specialists, owners in Merlo feel increasingly confident about renting out their properties under the conditions established at the beginning of the year after the DNU that repealed the Rental Law, observing that their profitability has not diminished over time.
Lorena Bertomeu , from Bertomeu Properties, pointed out that this greater confidence and freedom of contracting generated a wide range of options for tenants, both in terms of variety of properties and flexibility in contractual conditions. “Rental prices remain more stable, in line with the slowdown in inflation, which has led to a more dynamic and competitive market.”
Landlords are showing flexibility and empathy towards the situation of tenants when establishing rental agreements. The freedom to set deadlines, prices and forms of adjustment did not result in unreasonable requests, but rather they are within reasonable and equitable parameters.
There, rents for two-room apartments vary between $200,000 and $250,000, and for three-room houses, between $380,000 and $450,000 per month.
In the buying and selling sector, the availability of credits generated a significant increase in enquiries from potential buyers. “However, in the area we cover (Moreno to Morón), few people are able to access these credits due to the demanding requirements regarding declared income and the scarcity of properties with documentation suitable for credit, especially the lack of updated plans,” said Bertomeu.
Two-room apartments range from USD 50,000 to USD 65,000 depending on location, condition, with or without garage. Three-room apartments go up to USD 85,000 in Merlo.
South
The rental offer in Lanús also grew after the DNU, which liberalized the terms, the payment currency and the update agreements between parties.Jorge Antúnez Vega , from Antúnez Vega Properties, explained that the rental market, due to its free contracting, had a very good impact. “There are contracts for short periods of 6 months to a year, although the most common are two-year leases in pesos with quarterly updates based on the Consumer Price Index.”
As for prices, two-room apartments range from $250,000 to $350,000, while three-room apartments range from $380,000 to $550,000 per month. The most sought-after areas are those near Hipólito Yrigoyen Avenue.
A three-room house in Lanús climbs to $550,000 a month
In the area of buying and selling, Antúnez Vega mentioned that the opening of mortgage loans has not yet reflected a significant increase in market activity. “However, it is expected that once the operations are streamlined through the Whitewashing , this will be very positive for the real estate market and the increase in construction.”
The most sought-after areas there are preferably Lanús Oeste and the center of Lanús Este.
The values of units in Lanús depend on the quality of construction, location and age. Two-room units with good ratings range from USD 95,000 to USD 120,000, while three-room units range from USD 130,000 to USD 180,000.
"It would be beneficial for the Government to encourage tax reductions for the construction and acquisition of housing, similar to the housing regime promoted in Uruguay," concluded Antúnez Vega.
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