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More expensive than in CABA: historic increase in Northern area - La Nación
Source:
www.lanacion.com.ar
September 15, 2023
New contract rents experienced a staggering 16.3% increase in the last month, surpassing the city of Buenos Aires.
Recent years have represented a constant challenge for the real estate market. Since the implementation of the rental law in 2020, prices have experienced a constant increase, and this pattern reached unprecedented proportions in the rental market in Greater Buenos Aires (GBA) during the month of August , according to the latest report from Zonaprop.
In the northern area , rents for new contracts experienced an astonishing increase of 16.3% in the last month, surpassing the city of Buenos Aires, where they rose 12.8% in August and have accumulated 114% so far this year . This increase in the northern zone of the GBA, which has risen at a double-digit monthly rate since June, marks a historical record since the beginning of the series in 2016.
As the number of available listings continues to decline, reaching historically low levels, rental prices so far in 2023 have climbed a staggering 99.4% in the Northern GBA , far outpacing the rate of inflation. The average rental cost of a 1 bedrom apartment is $173,890 per month, while a two bedroom apartment reaches $224,337 per month.
Within the northern neighborhoods, Olivos and Vicente López lead with the most expensive offers , marking figures of $256,443 and $233,381 per month, respectively. The most affordable rentals are found in San Miguel ($117,957 per month), Belén de Escobar ($135,979 per month) and San Fernando ($137,982 per month). Another fact is that La Lonja (in the Pilar district) is the neighborhood with the highest year-on-year increase in the average price, while Pilar is the one with the lowest increase.
Olivos and Vicente López lead the ranking of the neighborhoods with the most expensive monthly rent in the North Zone.
Regarding profitability in the northern GBA, a slight decline is observed compared to the previous month, standing at 3.5% annually. This means that it takes approximately 28.6 years to recover the initial investment , which is 15% less time compared to the previous year. A key fact for those looking to invest in rental properties is that the La Lonja and Villa Rosa neighborhoods (both in Pilar's district) show a high gross return of 5.9% and 5.5% , respectively. Therefore, these neighborhoods are emerging as the most attractive options for investors looking for a stable source of income.
For its part, in the west-south zone, prices experienced an increase of 14.2% in August, accumulating an impressive increase of 94.3% so far this year , once again exceeding inflation. On a year-on-year basis, this increase translates into a surprising 143.6%. Renting a two-room apartment of 50 square meters has a monthly cost of $122,339, while a three-room apartment of 70 square meters is rented for $154,666 per month.
Canning tops the list of most expensive neighborhoods, worth $162,644 per month , closely followed by Wilde ($159,613 per month) and Castelar ($146,470 per month). On the other hand, the most affordable rentals are found in Merlo ($79,054 per month), Monte Grande ($103,134 per month) and Villa Luzuriaga, with a value of $103,650 per month.
The profitability in the GBA West and South remains constant at 3.24%. This implies that it takes approximately 30.9 years of rental to recover the initial investment, which represents an increase of 9% compared to the previous year. The Wilde and Caseros neighborhoods stand out in this area , emerging as the most attractive areas for investors , offering a solid gross return of 5.9% and 5.3%, respectively.
www.buysellba.com
Source:
Alquilar en zona Norte: cuánto cuesta y en qué lugares es más caro que en la Capital Federal
Los alquileres en el Gran Buenos Aires registran grandes diferencias de hasta $100.000 de acuerdo a la zona en la que se encuentren ubicados
www.lanacion.com.ar
September 15, 2023
Rents in Greater Buenos Aires register large differences of up to $100,000 depending on the area in which they are located
September 15, 2023
New contract rents experienced a staggering 16.3% increase in the last month, surpassing the city of Buenos Aires.
Recent years have represented a constant challenge for the real estate market. Since the implementation of the rental law in 2020, prices have experienced a constant increase, and this pattern reached unprecedented proportions in the rental market in Greater Buenos Aires (GBA) during the month of August , according to the latest report from Zonaprop.
In the northern area , rents for new contracts experienced an astonishing increase of 16.3% in the last month, surpassing the city of Buenos Aires, where they rose 12.8% in August and have accumulated 114% so far this year . This increase in the northern zone of the GBA, which has risen at a double-digit monthly rate since June, marks a historical record since the beginning of the series in 2016.
As the number of available listings continues to decline, reaching historically low levels, rental prices so far in 2023 have climbed a staggering 99.4% in the Northern GBA , far outpacing the rate of inflation. The average rental cost of a 1 bedrom apartment is $173,890 per month, while a two bedroom apartment reaches $224,337 per month.
Within the northern neighborhoods, Olivos and Vicente López lead with the most expensive offers , marking figures of $256,443 and $233,381 per month, respectively. The most affordable rentals are found in San Miguel ($117,957 per month), Belén de Escobar ($135,979 per month) and San Fernando ($137,982 per month). Another fact is that La Lonja (in the Pilar district) is the neighborhood with the highest year-on-year increase in the average price, while Pilar is the one with the lowest increase.
Olivos and Vicente López lead the ranking of the neighborhoods with the most expensive monthly rent in the North Zone.
Regarding profitability in the northern GBA, a slight decline is observed compared to the previous month, standing at 3.5% annually. This means that it takes approximately 28.6 years to recover the initial investment , which is 15% less time compared to the previous year. A key fact for those looking to invest in rental properties is that the La Lonja and Villa Rosa neighborhoods (both in Pilar's district) show a high gross return of 5.9% and 5.5% , respectively. Therefore, these neighborhoods are emerging as the most attractive options for investors looking for a stable source of income.
For its part, in the west-south zone, prices experienced an increase of 14.2% in August, accumulating an impressive increase of 94.3% so far this year , once again exceeding inflation. On a year-on-year basis, this increase translates into a surprising 143.6%. Renting a two-room apartment of 50 square meters has a monthly cost of $122,339, while a three-room apartment of 70 square meters is rented for $154,666 per month.
Canning tops the list of most expensive neighborhoods, worth $162,644 per month , closely followed by Wilde ($159,613 per month) and Castelar ($146,470 per month). On the other hand, the most affordable rentals are found in Merlo ($79,054 per month), Monte Grande ($103,134 per month) and Villa Luzuriaga, with a value of $103,650 per month.
The profitability in the GBA West and South remains constant at 3.24%. This implies that it takes approximately 30.9 years of rental to recover the initial investment, which represents an increase of 9% compared to the previous year. The Wilde and Caseros neighborhoods stand out in this area , emerging as the most attractive areas for investors , offering a solid gross return of 5.9% and 5.3%, respectively.
www.buysellba.com
