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Interest in renting 3 bedrooms apartments in CABA skyrocketed: Supply rose more than 80 percent - Infobae
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Se disparó el interés por alquilar departamentos de 4 ambientes en CABA: la oferta subió más de 80 por ciento
En noviembre pasado, la oferta de unidades de 4 ambientes en varios barrios porteños era escasa, con menos de 20 disponibles y actualmente hay 1.300. Estas propiedades, conocidas por sus amplias dimensiones, alcanzan un promedio de $615.000 mensuales
www.infobae.com
April 2, 2024
Last November, opportunities were slim, with fewer than 20 units available. Today there are 1,300. It costs, on average, about $615,000 per month
By José Luis Cieri
The 4-room apartments generally exceed 80 square meters and the most comfortable ones range from 120 m2 covered.
One of the most notable aspects after the DNU that repealed the Rental Law – and whose continuity must continue to be debated in Congress – is the notable increase in the supply of 3 bedrooms apartments, an unprecedented growth in percentage terms. Since November, the jump exceeds 80 percent.
In contrast to the situation six months ago, the supply of this type of apartments was practically non-existent in the city of Buenos Aires. These homes, highly requested by large and assembled families that need large spaces of more than 120 square meters, are now in high demand.
This was confirmed by an analysis by Real Estate Report, which specifically refers to used apartments offered for traditional rental, whose prices are expressed in pesos.
Regarding the average asking rental values, a general increase was observed in studios and 3 bedrooms units, while the average for one-bedroom units remained stable.
However, on the other hand, 3 bedrooms apartments, where the greatest growth in supply was recorded, experienced a slight decrease in their average price. Currently the value in CABA is $615,000 per month on average.
Around 1,300 3 bedrooms apartments are available on specialized portals. Although half of these offers are in dollars, they can now be found in a variety of neighborhoods, from Flores, Balvanera and Villa Lugano to Parque Chacabuco (when at the end of the year there were no homes of these characteristics). In these areas with homes more than 40 years old, rents start at $350,000 per month.
While in more sought-after areas such as Palermo, Núñez or Belgrano, prices can reach up to $960,000, especially in units less than 20 years old.
Mariano García Malbrán , president of the Chamber of Real Estate Services Companies, emphasized in an interview with Infobae that “the search for large apartments to rent is a challenge due to high demand, especially in CABA and Greater Buenos Aires. “These properties are sought after by large families, professionals working from home, and individuals with special needs who require larger spaces to accommodate their medical or personal care needs, as well as to improve accessibility in their home.”
These are apartments with three bedrooms or if the owner or tenant adapted it, that third bedroom can be used for teleworking or consulting if it is suitable for professionals.
The data show a return to the formal market of units on offer after the repeal of the rental law, allowing the free setting of terms and adjustment clauses.
Diana Sevitz , from the Training Institute (ICI) of the Argentine Real Estate Chamber, highlighted that, with the DNU, “there is freedom of contract and it is not limited to a single form of contract. This encourages owners to opt for the traditional rental format instead of temporary ones.”
According to specialists, since the implementation of the DNU, the rental contracts of these apartments are characterized by having a predominant duration of 2 years maximum term, with adjustments made through the Rental Contract Index (ICL).
“In this context, it is crucial to highlight that contracts are not uniform and that tenants must be prepared to adjust their expectations, as clauses can vary considerably from one landlord to another,” Sevitz said.
Panorama of construction of spacious homes
Typically, those looking for this type of home need more than two bedrooms, plus additional space such as a desk or teleworking area.“A characteristic of the 3 bedrooms apartment market is that builders and developers tend to avoid them due to the greater square footage required, which raises sales prices and makes their marketing difficult,” said García Malbrán.
It is estimated that there are around 12,600 3 bedrooms apartments for sale in CABA, of which around 2,300 are under construction or were inaugurated in the last 4 years.
Values
The initial offer prices registered a slight growth (in some cases only 2% month-on-month), in line with the decrease in inflation (which still oscillates at 10% monthly), and in some cases they remained stable or even registered small falls between the proposals for large properties and in neighborhoods such as Villa Urquiza or Recoleta, among others.“This suggests an adaptation to the payment possibilities of the demand and the new flexibility established by the DNU, which avoids falling behind inflation,” added Sevitz.
Below are some examples of average values in neighborhoods where there are currently 4-room apartments in CABA and where there are units of more than 80 m2:
Palermo: $810,000.
Núñez: $770,000.
Belgrano: $740,000.
Recoleta: $690,000.
Villa Urquiza: $680,000.
Colegiales: $650,000.
Congreso: $630,000.
San Cristóbal: $620,000.
Villa del Parque: $610,000.
Villa Crespo: $600,000.
Caballito: $550,000.
Flowers: $550,000.
Almagro: $525,000.
San Telmo: $490,000.
Balvanera: $475,000.
Forest: $400,000.
Villa Lugano: $380,000.
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