BuySellBA
Administrator
Rampant rentals - Reporte Inmobiliario
Source:
www.reporteinmobiliario.com
September 19, 2023
The increases in CABA exceed anything seen in recent decades and it is not the fault of the temporary workers. Quarterly data by neighborhood since February 2009.
The current Rental Law took the rental market to a place from which it is difficult to get out. Rents being the only good or service in the entire Argentine economy that is frozen for one year, it was to be expected that owners would try to cover themselves from the projected inflation, adding it to the values of the new rents to be agreed upon. This led not only to a lack of supply never seen before but also to percentages of interannual increases never seen before and a very high degree of informality:
Two-room units had a strong acceleration in price increases in the last quarter, reaching 59.71%, making the increase 204.5% in the year-on-year comparison.
The citywide median value for used 2-bedroom apartments in August 2023 is $152,000, while 3-bedroom units are listed above $214,000. 3-room units increased 72.94% during the last quarter, taking the year-on-year increase to no less than 250.21%.
As we have been saying for more than a year now, “The reality is that beyond the averages of public offers for standard units, if you are looking for a unit in good condition, the values far exceed these averages. The issue is that the notices last so little, only hours on the portals, that the values of good units in the figures are almost not verified.”
These days there has been an attempt to blame temporary rentals, forgetting that the largest supply of these is limited to some neighborhoods in the city and that 77% of this supply is made up of studio or one-bedroom units. On the other hand, it can be confirmed that this particular market (which has existed for more than 20 years, long before the appearance of platforms) currently has fewer units offered in the city than before the Pandemic.
METHODOLOGY USED: A homogeneous number of cases is surveyed for each locality-neighborhood based on its built density in the central area or in the area recognizable as having the greatest presence of residential buildings in horizontal property. The number of cases surveyed is between 30 and 60 depending on the scale of the locality and is statistically predetermined as a representative sample of the universe of historical supply. The investigation is carried out under the figure of a “mystery shopper”. In all cases it is verified that the apartment is used, integrates a condo building with a standard quality elevator, is in a state of medium maintenance, without a garage and that the building does not have amenities. Covered and balcony surfaces are checked. The units are intended to be located on the floor located at the middle height of the building. (Number of floors/2). All offers and data that make up the study are checked by telephone or via email, after a prior preselection carried out from Property Search Engines via the web or advertisements published in national, provincial or regional graphic media. Rental quotes are requested in Argentine pesos. In cases where the price includes expenses, these are discounted. Only cases of traditional rental contracts (24 months) are taken. The values reported are monthly and do not include commissions, deposits or any other type of additional payments. after a prior pre-selection carried out from Property Search Engines via the web or advertisements published in national, provincial or regional graphic media. Rental quotes are requested in Argentine pesos. In cases where the price includes expenses, these are discounted. Only cases of traditional rental contracts (24 months) are taken. The values reported are monthly and do not include commissions, deposits or any other type of additional payments. after a prior pre-selection carried out from Property Search Engines via the web or advertisements published in national, provincial or regional graphic media. Rental quotes are requested in Argentine pesos. In cases where the price includes expenses, these are discounted. Only cases of traditional rental contracts (24 months) are taken. The values reported are monthly and do not include commissions, deposits or any other type of additional payments. Only cases of traditional rental contracts (24 months) are taken. The values reported are monthly and do not include commissions, deposits or any other type of additional payments. Only cases of traditional rental contracts (24 months) are taken. The values reported are monthly and do not include commissions, deposits or any other type of additional payments.
© ReporteInmobiliario.com, 2003-2023
www.buysellba.com
Source:
CABA: Valores M2 por barrio de Agosto , noticias sobre RESIDENCIAL en Reporte Inmobiliario
La caída interanual del valor promedio fue del 6,06 %. Ultimo mes los valores subieron para tipologías de 1, 2 y 3 ambientes. Las unidades de 4 amb cayeron 1,9%.
www.reporteinmobiliario.com
September 19, 2023
The increases in CABA exceed anything seen in recent decades and it is not the fault of the temporary workers. Quarterly data by neighborhood since February 2009.
The current Rental Law took the rental market to a place from which it is difficult to get out. Rents being the only good or service in the entire Argentine economy that is frozen for one year, it was to be expected that owners would try to cover themselves from the projected inflation, adding it to the values of the new rents to be agreed upon. This led not only to a lack of supply never seen before but also to percentages of interannual increases never seen before and a very high degree of informality:
Two-room units had a strong acceleration in price increases in the last quarter, reaching 59.71%, making the increase 204.5% in the year-on-year comparison.
The citywide median value for used 2-bedroom apartments in August 2023 is $152,000, while 3-bedroom units are listed above $214,000. 3-room units increased 72.94% during the last quarter, taking the year-on-year increase to no less than 250.21%.
As we have been saying for more than a year now, “The reality is that beyond the averages of public offers for standard units, if you are looking for a unit in good condition, the values far exceed these averages. The issue is that the notices last so little, only hours on the portals, that the values of good units in the figures are almost not verified.”
These days there has been an attempt to blame temporary rentals, forgetting that the largest supply of these is limited to some neighborhoods in the city and that 77% of this supply is made up of studio or one-bedroom units. On the other hand, it can be confirmed that this particular market (which has existed for more than 20 years, long before the appearance of platforms) currently has fewer units offered in the city than before the Pandemic.
METHODOLOGY USED: A homogeneous number of cases is surveyed for each locality-neighborhood based on its built density in the central area or in the area recognizable as having the greatest presence of residential buildings in horizontal property. The number of cases surveyed is between 30 and 60 depending on the scale of the locality and is statistically predetermined as a representative sample of the universe of historical supply. The investigation is carried out under the figure of a “mystery shopper”. In all cases it is verified that the apartment is used, integrates a condo building with a standard quality elevator, is in a state of medium maintenance, without a garage and that the building does not have amenities. Covered and balcony surfaces are checked. The units are intended to be located on the floor located at the middle height of the building. (Number of floors/2). All offers and data that make up the study are checked by telephone or via email, after a prior preselection carried out from Property Search Engines via the web or advertisements published in national, provincial or regional graphic media. Rental quotes are requested in Argentine pesos. In cases where the price includes expenses, these are discounted. Only cases of traditional rental contracts (24 months) are taken. The values reported are monthly and do not include commissions, deposits or any other type of additional payments. after a prior pre-selection carried out from Property Search Engines via the web or advertisements published in national, provincial or regional graphic media. Rental quotes are requested in Argentine pesos. In cases where the price includes expenses, these are discounted. Only cases of traditional rental contracts (24 months) are taken. The values reported are monthly and do not include commissions, deposits or any other type of additional payments. after a prior pre-selection carried out from Property Search Engines via the web or advertisements published in national, provincial or regional graphic media. Rental quotes are requested in Argentine pesos. In cases where the price includes expenses, these are discounted. Only cases of traditional rental contracts (24 months) are taken. The values reported are monthly and do not include commissions, deposits or any other type of additional payments. Only cases of traditional rental contracts (24 months) are taken. The values reported are monthly and do not include commissions, deposits or any other type of additional payments. Only cases of traditional rental contracts (24 months) are taken. The values reported are monthly and do not include commissions, deposits or any other type of additional payments.
© ReporteInmobiliario.com, 2003-2023
www.buysellba.com
