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Rent for the middle class in CABA: Neighborhood by neighborhood, how much do 3-room apartments cost - Infobae
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March 14, 2024
Analysis of the rental situation, the most expensive and the cheapest. After the repeal of the law, the supply grew and what are the predominant adjustment methods in the new contracts?
By José Luis Cieri
Rent for the middle class in CABA: neighborhood by neighborhood, how much do 3-room apartments cost
The Government's DNU that repealed the Rental Law generated a positive impact on the supply of apartments in CABA, as it experiences constant growth week after week. As a result, owners are returning to the traditional rental market: there are already 11,800 units on some specialized portals.
The prices of three-room apartments in the city of Buenos Aires registered a notable increase, with an average increase of 300.8% in interannual terms. There is now a slight slowdown in this increase, especially in the beginning of new contracts. Homeowners are adjusting values more frequently due to changes in regulations, allowing them to make faster adjustments than allowed under the repealed law.
This increase entails a validation of demand and a stabilization of prices. However, persistent inflation remains a factor driving a significant increase in values.
“Now quarterly or four-monthly adjustments prevail, which helps prevent prices from lagging behind inflation,” Mariana Lucángeli , an analyst of the Buenos Aires real estate market, told Infobae.
Three-room apartments are especially requested by middle-class families, especially those with one or two children, who are looking for homes with two bedrooms.
From the real estate sector they reported that the supply after the DNU follows an upward trend that points towards the normalization of the rental market. Currently, it is estimated that there are nearly 3,000 three-bedroom properties available in CABA, although approximately 55% of them are published in dollars.
The most expensive and the cheapest in the city
Palermo (Puerto Madero is still excluded because the values there are all maintained in dollars) remains the most expensive neighborhood to rent a three-room apartment, followed by Núñez and Belgrano, where prices start at $700,000, depending on the characteristics of the apartment. building and maintenance costs.
In Palermo you will find the most expensive apartments in pesos to rent in CABA
Lucángeli explained: “To avoid the volatility caused by indices, many owners choose contracts in dollars or their equivalent in pesos, while tenants, whose income is mainly in pesos, prefer to commit to an inflation update in the local currency.”
The cheapest apartments rent for less than $460,000 per month, and are currently usually found in areas such as Liniers, Floresta or Barracas.
Patricia Contestabile , from Patricia Contestabile Real Estate Businesses, highlighted that along with three-room apartments, two-room apartments are also among the most in demand today. “Although rental prices were increasing due to inflation, it is perceived that they will balance out thanks to the greater supply of units on the market,” she stated.
Greater demand
Three-room apartments are requested not only by families, but also by young couples. This demographic group, mainly made up of those under 40 years of age, is distinguished by having well-paid jobs that exceed the average income.“The need for additional space is due to carrying out professional activities from home, converting the third room into an office and reflecting the growing trend of remote work,” Lucángeli explained.
Settings
Currently, several owners prefer to establish the value in pesos and make a quarterly adjustment according to the Consumer Price Index (CPI) or the lCL Contract Index.
Part of the demand prioritizes three-room apartments suitable for professionals, where one bedroom is used as an office or space for teleworking.
Contestabile described the requirements for signing the rental contract. “The usual thing is to require a security deposit, sometimes even more than a month, depending on the conditions of the apartment,” she explained.
A proprietary guarantee is also usually required in the city of Buenos Aires, either for contracts in pesos adjusted quarterly by IPC or ICL, or in US dollars.
“This all depends on how it is agreed in the contract.” As for proof of income and a clean Veraz background, they are also common requirements to enter the contract, something that reassures the owners,” said Contestabile.
Zone by zone values
According to Zonaprop, the average prices and neighborhoods where you can find three-room apartments (that exceed 70 square meters in area) are published below:- Palermo: $793,900.
- Nuñez: $730,900.
- Belgrano: $718,300.
- Coghlan: $716,400.
- Villa Urquiza: $666,100.
- Recoleta: $656,800.
- Colegiales: $651,000.
- Retiro: $645,000.
- Saavedra: $603,200.
- Almagro: $585,200.
- Boedo: $574,400.
- Villa Crespo: $570,700.
- Caballito: $563,400.
- Villa del Parque: $550,189.
- Villa Devoto: $535,600.
- Montserrat: $531,100.
- Chacabuco Park: $521,500.
- Balvanera: $509,000.
- Villa Gral. Miter: $500,300.
- Santa Rita: $493,800.
- San Telmo: $484,000.
- San Nicolás: $483,700.
- Flores: $480,100.
- Monte Castro: $465,000.
- San Cristóbal: $460,000.
- Mataderos: $456,500.
- Vélez Sarsfield: $456,300.
- Liniers: $454,000.
- Barracas: $449,100.
- Floresta: $432,400.
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