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How much does it cost to rent a Two-bedrooms apartment in the City of Buenos Aires, neighborhood by neighborhood? - Infobae
Source:
www.infobae.com
July 11, 2024
Rental prices in Buenos Aires have increased by an average of 190% over the past year. In some areas, they have climbed by as much as 240%.
By Jose Luis Cieri
After almost nothing until the end of the year, there are now about 16,000 apartments for rent in the city of Buenos Aires. Prices remain high for wage earners (Photo Courtesy: Mudafy)
The Government's decree that eliminated the Rental Law had a positive impact on the supply of apartments in the city of Buenos Aires, reflected in a constant growth. As a result, hundreds of owners continue to return to the traditional rental market, with 16,000 units already available on some specialized portals.
Prices for three-room apartments in CABA registered a significant increase, with an average increase of 190%, although in some neighborhoods it climbs up to 240% in year-on-year terms. However, as inflation fell in the last two months, values began to stabilize. There is a slight slowdown in this growth, especially at the start of new contracts.
Landlords are adjusting values more frequently due to changes in regulations, allowing them to make quicker adjustments than allowed under the repealed law.
The sector maintains that deregulation and free contracts between parties deregulated the entry of new properties into the rental market.
“The rental offer in CABA grew significantly after the DNU, going from less than 5,000 properties published in December 2023 to more than 16,000 in July 2024. And this led to a 20% drop in real terms in rental prices,” confirmed María Franco , director of operations at Mudafy.
Molina pointed out that San Telmo, Parque Avellaneda and Monserrat are the neighborhoods with the highest year-on-year price increases, with an annual variation of 238%, 229% and 226%, respectively. “In turn, the neighborhoods that registered the lowest annual variation were Retiro (149%), Villa Ortúzar (151.4%) and Palermo (151.6%).”
Following the repeal of the Rental Law, the conditions of the contracts and the way of calculating price increases changed. In addition, the offer of new lines of mortgage credit can also play a crucial role, since for a fee barely higher than that of a rental, people can acquire their own home.
Two-bedrooms apartments are usually the most in demand by families with up to two children or by married couples who require an extra space to work (Photo Courtesy: Mudafy)
Franco noted an increase in demand for buying and selling, driven by the profitability of rentals, which today is around 5% annually. “Dollar fluctuations are also a determining factor when considering a rental, which is usually in pesos. In addition, it is important to differentiate between traditional and temporary rentals. The more unstable the exchange market is, the more difficult it will be to bet on a rental in pesos that recovers an initial investment in dollars,” he added.
Palermo: $739,600.
Saavedra: $728,300.
Nuñez: $712,500.
Villa Urquiza: $708,200.
Belgrano: $687,300.
Colegiales: $686,900.
Coghlan: $680,000.
Recoleta: $667,900.
Villa Ortúzar: $659,200.
Paternal: $657,200.
Villa Pueyrredón: $633,200.
Villa Crespo: $630,500.
Parque Chacabuco: $623,100.
Villa Devoto: $615,900.
San Telmo: $614,700.
Boedo: $612,200.
Almagro: $611,000.
Retiro: $608,500.
Chacarita: $607,200.
Villa Del Parque: $606,600.
Caballito: $601,700.
Villa Gral Mitre: $588,300.
Santa Rita: $560,100.
San Cristobal: $553,700.
Agronomia: $546,300.
Montserrat: $545,100.
Velez Sarsfield: $540,300.
Flores: $536,600.
Balvanera: $531,200.
Monte Castro: $522,400.
San Nicolas: $519,800.
Barracas: $517,300.
Liniers: $501,300.
Floresta: $499,100.
Constitucion: $492,200.
Mataderos: $462,600.
Lugano: $402,600.
www.buysellba.com
Source:
Cuánto cuesta alquilar un departamento de 3 ambientes en la Ciudad de Buenos Aires, barrio por barrio
Los precios de los alquileres porteños registraron un incremento promedio del 190% en el último año. En algunas zonas, treparon hasta el 240%
www.infobae.com
July 11, 2024
Rental prices in Buenos Aires have increased by an average of 190% over the past year. In some areas, they have climbed by as much as 240%.
By Jose Luis Cieri
After almost nothing until the end of the year, there are now about 16,000 apartments for rent in the city of Buenos Aires. Prices remain high for wage earners (Photo Courtesy: Mudafy)
The Government's decree that eliminated the Rental Law had a positive impact on the supply of apartments in the city of Buenos Aires, reflected in a constant growth. As a result, hundreds of owners continue to return to the traditional rental market, with 16,000 units already available on some specialized portals.
Prices for three-room apartments in CABA registered a significant increase, with an average increase of 190%, although in some neighborhoods it climbs up to 240% in year-on-year terms. However, as inflation fell in the last two months, values began to stabilize. There is a slight slowdown in this growth, especially at the start of new contracts.
Landlords are adjusting values more frequently due to changes in regulations, allowing them to make quicker adjustments than allowed under the repealed law.
Evolution
Regarding the evolution of the demand for three-room apartment rentals in CABA in recent months, Leandro Molina , country manager of Grupo QuintoAndar (which includes Zonaprop) for Argentina and Peru, said that “starting in December 2023, there was an increase in the demand for apartment rentals. In June 2024, there was a 32% increase in demand compared to the same month of the previous year. In turn, since the DNU came into force, the offer increased by 187% since the end of the year and by 211% since June 2023.”The sector maintains that deregulation and free contracts between parties deregulated the entry of new properties into the rental market.
“The rental offer in CABA grew significantly after the DNU, going from less than 5,000 properties published in December 2023 to more than 16,000 in July 2024. And this led to a 20% drop in real terms in rental prices,” confirmed María Franco , director of operations at Mudafy.
What about prices
For two-bedrooms apartments, there has been a slowdown in rental prices since February, after increases exceeding 20% in previous months; in June, the average price of an apartment rose by 2.2%, and since the beginning of 2024, there has been an increase of 34 percent. Currently, the average value is 184.2% higher than a year ago.Molina pointed out that San Telmo, Parque Avellaneda and Monserrat are the neighborhoods with the highest year-on-year price increases, with an annual variation of 238%, 229% and 226%, respectively. “In turn, the neighborhoods that registered the lowest annual variation were Retiro (149%), Villa Ortúzar (151.4%) and Palermo (151.6%).”
Following the repeal of the Rental Law, the conditions of the contracts and the way of calculating price increases changed. In addition, the offer of new lines of mortgage credit can also play a crucial role, since for a fee barely higher than that of a rental, people can acquire their own home.
Two-bedrooms apartments are usually the most in demand by families with up to two children or by married couples who require an extra space to work (Photo Courtesy: Mudafy)
Franco noted an increase in demand for buying and selling, driven by the profitability of rentals, which today is around 5% annually. “Dollar fluctuations are also a determining factor when considering a rental, which is usually in pesos. In addition, it is important to differentiate between traditional and temporary rentals. The more unstable the exchange market is, the more difficult it will be to bet on a rental in pesos that recovers an initial investment in dollars,” he added.
Values
Below are the average rental prices in pesos in the neighborhoods with offers according to Zonaprop and for homes of more than 70 m2 as a reference:Palermo: $739,600.
Saavedra: $728,300.
Nuñez: $712,500.
Villa Urquiza: $708,200.
Belgrano: $687,300.
Colegiales: $686,900.
Coghlan: $680,000.
Recoleta: $667,900.
Villa Ortúzar: $659,200.
Paternal: $657,200.
Villa Pueyrredón: $633,200.
Villa Crespo: $630,500.
Parque Chacabuco: $623,100.
Villa Devoto: $615,900.
San Telmo: $614,700.
Boedo: $612,200.
Almagro: $611,000.
Retiro: $608,500.
Chacarita: $607,200.
Villa Del Parque: $606,600.
Caballito: $601,700.
Villa Gral Mitre: $588,300.
Santa Rita: $560,100.
San Cristobal: $553,700.
Agronomia: $546,300.
Montserrat: $545,100.
Velez Sarsfield: $540,300.
Flores: $536,600.
Balvanera: $531,200.
Monte Castro: $522,400.
San Nicolas: $519,800.
Barracas: $517,300.
Liniers: $501,300.
Floresta: $499,100.
Constitucion: $492,200.
Mataderos: $462,600.
Lugano: $402,600.
www.buysellba.com
