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North, south and west zone: How much does it cost to rent an apartment in Greater Buenos Aires - La Nacion Propiedades
Source:
Alquileres: cuánto cuesta un departamento de dos ambientes en zona norte, oeste y sur del Gran Buenos Aires
La oferta viene registrando un incremento en comparación con las publicaciones del 2023, cuando aún estaba en vigencia la ley de alquileres
www.lanacion.com.ar
February 10, 2024
In the last month, the rental offer registered an increase compared to the publications of 2023, when the rental law was still in force.
The supply of properties located outside the city has a great disparity in prices that is not only reflected between the northern, southern and western areas, there are also differences between the neighborhoods of the same municipality.
Renting at reasonable prices continues to be a journey in Greater Buenos Aires (GBA) . Despite the increase in rents in January, in the west/south zone it rose by 13.8% in January and in the north zone an increase of 15.9% was recorded , reaching levels below inflation (25.5 %). According to the latest survey by Zonaprop , in the northern , southern and western corridors the offer of apartments for rent is very varied, with values for a two-room apartment ranging from $172,000 per month (in Moreno) to $573,019 (in Vicente López).
But, despite this increase, they continue to be behind the prices of the city of Buenos Aires (CABA) , where the average rent value for a two-bedroom is $405,218 . On the other hand, an average rent for an apartment of the same type in the municipalities surveyed in the western and southern GBA is $236,770 per month , and in the northern zone the value is $335,845.
However, after the repeal of the law by President Javier Milei through a Decree of Necessity and Urgency (DNU) , which came into effect on December 29, 2023, there was a change in the dynamics of the market: in one month (January) an increase of 11% in the supply of rental properties was observed versus December of last year in the northern zone , while in the west-south zone it increased by 26% on a month-on-month basis, according to the report.
Prices of an average apartment in south/west GBA
Rental values in GBA locations
North Zone
The prices of new contracts experienced an increase of 15.9% in the last month, one point less than in December, which registered an increase of 16.8% month-on-month. A key fact is that it registers a higher percentage than that of GBA west and south, which was 13.8%, but lower than that of the city of Buenos Aires, where the increase was 21%.In this way, Vicente López, Olivos and Nordelta are located as the neighborhoods with the most expensive average rental price for a two-room apartment, $573,019, $541,175 and $522,473 per month respectively.
While on the opposite side there are: San Miguel, Villa Ballester and San Martín, with the most economical values: $253,266, $255,587 and $266,946 per month, respectively.
For its part, Manuel Alberti ($485,838), Tigre ($434,790), Victoria ($419,430), Rincón de Milberg ($393,531) and Belén de Escobar ($315,945) are presented with properties with prices located in the middle figure.
Regarding the profitability of an apartment for rent in GBA north, there is a slight increase compared to the previous month, standing at 3.82% annually, while in December it was 3.5%. This means that it takes approximately 26.2 years to recover the initial investment, which is 9% less time compared to the previous year.
A relevant fact for any investor looking to buy a property to rent is that the Belén de Escobar and Manuel Alberti neighborhoods show a high gross return of 5.8% and 5.6%, respectively. Therefore, these neighborhoods are emerging as the most attractive options for investors looking for a stable source of income.
West and south zone
On the other hand, prices in the western area experienced an increase of 13.8%, with, in this case, the small apartments experiencing the greatest increase. When the comparison is made with the other areas, the values are lower: 29.5% compared to northern GBA ($335,845 on average per month) and 41% lower than that of CABA ($405,238 on monthly average).
The area called La Isla, in Olivos
When comparing the prices of each location, San Justo tops the list of the most expensive , with a value of $279,323 per month, closely followed by Wilde ($276,129) and Avellaneda ($266,956). On the other hand, at the other extreme, the most affordable rentals are found in Moreno, Villa Luzuriaga and Haedo , with $172,600, $184,192 and $201,525 respectively.
For its part, in the middle zone there are:
- Moron: $222,677.
- Ramos Mejía: $234,717.
- Lanús: $242,963.
- Castelar: $259,709
The profitability in the western and southern GBA declines and stands at 3.19% annually, last month it was 3.24%. This implies that it takes approximately 31.3 years of rental to recover the initial investment, which represents an increase of 5% compared to the previous year. In this case, the San Justo and Caseros neighborhoods stand out in this area, which stand out as the most attractive areas for investors, offering a solid gross return of 5.4% and 5.1%, respectively.
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