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Ranking of the most accessible neighborhoods: How much does it cost to rent an apartment in the northern zone - La Nacion Propiedades
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Alquileres: estos son los barrios más baratos de zona norte donde se consigue un 2 ambientes por menos de $500.000
Los valores mensuales de un tres ambientes en GBA norte ya superan el medio millón de pesos mensuales
www.lanacion.com.ar
February 14, 2024
The monthly values of a three-bedroom in GBA Norte already exceed half a million pesos per month
In the northern area, rents continue to rise despite the repeal of the Law
The last few years have represented a constant challenge for the real estate market . Since the implementation of the rental law in 2020, its modification in October 2023 and its subsequent repeal on December 29 of last year, when Javier Milei's Decree of Necessity and Urgency (DNU) was made official , rental prices experienced a constant increase. This is reflected in the northern area of Greater Buenos Aires (GBA) , which, despite the fact that the supply of rentals is increasing, 11% in relation to the previous month, the increase in prices continues to rise, according to the latest ZonaProp survey.
In the northern 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 lower percentage than that of the city of Buenos Aires , where the increase was 21%.
Along these lines, according to the report , an average two-room apartment of 50 m² is rented for $335,845 , while last month the value was $289,764 per month . For its part, the greatest increase is recorded in the largest units: a three-room , 70 m² unit is offered for $525,104, when in December it was for $438,584, 19.72% more
A three-room apartment of 70 m² is rented for $525,104.
Prices by neighborhood to rent in the northern area
When thinking about which areas of the area to choose an apartment for, it is essential to be aware of which areas have the highest and lowest prices on the market. Within the areas of the North corridor , Vicente López, Olivos and Nordelta are the neighborhoods with the most expensive offer, $573,019, $541,175 and $522,473 per month respectively, for a two-bedroom.While, for those looking for more accessible values, on the opposite side there are: San Miguel, Villa Ballester and San Martín, with the cheapest prices , with $253,266, $255,587 and $266,946 per month , respectively.
For their 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 values located in the middle zone.
Vicente López and Olivos lead the ranking of the neighborhoods with the most expensive monthly rent in the North Zone
A key fact to take into account is the annual increase from January 2023 to January 2024 that each of these neighborhoods presents. In this case, San Isidro is at the top as the area of the northern corridor with the greatest increase in the average price in relation to the previous year, while Villa Ballester is at the opposite pole . The list is made up of the following:
Greater increase
- San Isidro: 327%.
- Victory: 322.3%.
- Beccar: 317%.
Smaller increase
- Villa Ballester: 221.3%.
- Belén de Escobar: 226.5%.
- Pillar: 230.4%.
Regarding the profitability of an apartment for rent in northern GBA, 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.
While on the opposite side, Villa Ballester and La Lucila are the neighborhoods with the lowest gross return , with 4.2% each.
Renting in GBA west/south is almost 30% lower than in the northern area
For its part, on the border with the San Miguel neighborhood, 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 GBA North ($335,845 on average per month) and 41% lower than that of CABA ($405,238 on monthly average).
The rental price in Zona Oeste is lower than those in GBA Norte and CABA.
In this way, renting a two-room apartment of 50 square meters in these areas has a monthly cost of $236,770 . While those with three rooms and 70 m² are rented for $347,428.
When making the comparison by neighborhood, San Justo tops the list of the most expensive neighborhoods, 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.
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