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Rental of premises: Which areas recovered most strongly in CABA despite the economic crisis - Infobae
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Alquiler de locales: qué zonas se recuperaron con más fuerza en CABA pese a la crisis económica
Con un promedio de ocupación del 93%, diversas avenidas y calles cercanas destacan por su sólido nivel de alquiler de inmuebles. Además, recobró vigor una emblemática peatonal de la ciudad. Qué rubros impulsan esta expansión comercial
www.infobae.com
January 4, 2023
With an average occupancy rate of 93%, various nearby avenues and streets stand out for their solid level of property rentals. In addition, an emblematic pedestrian street of the city regained vigor. What areas are driving this commercial expansion?
By José Luis Cieri
The pedestrian Florida regained its splendor. After the pandemic, it currently has 93% occupancy in contrast to the difficult situation it experienced until 2022
The occupancy of commercial premises in the city of Buenos Aires remains firm at 93%, a phenomenon evident when exploring the main avenues and nearby streets. The retail sector is exhibiting a recovery, challenging the economic and inflationary context that has persisted in the country for months.
Among the success stories is Florida Street, an iconic Buenos Aires commercial pedestrian street, which is experiencing a renaissance driven by the growing tourist flow and the economic reactivation in the Microcenter. Despite the consequences left by the pandemic, which led to the closure of numerous gastronomic establishments, today this artery shows renewed vitality with the opening of new proposals.
Jorge Gayoso, broker of the local division of LJ Ramos, told Infobae that “the resurgence is seen in the increase in inquiries from gastronomic entrepreneurs and the occupation of previously empty spaces, although with a change in the profile of tenants who now prefer second brands. Although renowned clothing stores maintain their presence, there is a shift towards lesser-known brands that took advantage of historically low prices during the pandemic to establish themselves in this classic shopping area.”
Currently in the pedestrian Florida the requested rental price for properties is around USD 24 per square meter.
Gayoso stressed that two key factors were determining factors for Florida's improvement: “The arrival of tourists attracted by the favorable exchange rate and the return to offices. Renowned brands are returning to the area, especially those dedicated to clothing and leather.”
There is a trend towards the subdivision of large premises, since demand favors smaller spaces. As for the sectors that drove the search and rental of spaces, we found clothing, followed by gastronomy and services.
There is little vacancy of commercial premises in the main commercial arteries, evidencing the persistent favorable dynamics in this sector
General recovery
Experts maintain that the local market maintains a solid level of activity, with demand currently exceeding supply.“There is little vacancy of commercial premises in the main commercial arteries, evidencing the persistent favorable dynamics in this sector,” said Martín Akian , commercial director of Aranalfe.
Traditional corridors such as Avenida Santa Fe, Cabildo, Rivadavia and Acoyte, as well as the Villa del Parque, Villa Devoto and Mataderos neighborhoods, experience different reasons that drive their commercial activity. In some cases, it is due to the growth of tourism, while in others, the consolidation of commercial corridors in the neighborhoods plays a determining role.
Jesica Soledad Amendola, , manager of the premises and offices division at Adrián Mercado, commented: “In the current situation, the strengthening of the commercial sector is also supported by the rise of electronic commerce. The need to have small premises for the withdrawal of products, such as distribution units, promoted the creation of opportunities for new entrepreneurs, who invested in small businesses upon perceiving the sustained growth in the digital market.”
Mendoza and Vuelta de Obligado, near Avenida Cabildo in Belgrano. Other nearby arteries with commercial centers also expand with the occupation of properties
On the other hand, 2023 was positive for franchises, which, according to official data, operate with more than 1,600 brands under this model and continue to expand.
Physiognomy and prices
Regarding what type of premises the demand chooses, Akian explained that “the search for properties with fronts that exceed 5 meters is prioritized, as well as surfaces that reach or exceed 100/150 square meters.”Other areas that recently advanced and were consolidated are Pedro Goyena Avenue and Valle Street in Caballito. In Flores, Avellaneda Avenue showed a growth in occupied premises, as well as growth on Rivadavia and San Pedrito avenues.
Avenida Callao and Santa Fe, an area with a clear commercial cut
Current preferences include sectors such as gastronomy, clothing, supermarkets, fast food, bazaars, kiosks and beauty.
“In addition, bazaars gained ground after the pandemic, driven by greater interest in home well-being and requiring large spaces. Personal beauty has generated a boost in the search for premises for aesthetic services, such as manicure, without the need to occupy large surfaces,” Amendola explained.
On Avenida Cabildo and La Pampa, a 4 x 30 meter location costs approximately $2,500,000 per month. In Belgrano, specifically on Avenida Cabildo and Juramento, a space with a frontage of 5 meters has a price close to $3,500,000, and on the other hand, on Avenidas Santa Fe and Callao, a space measuring 4 x 30 meters costs $3,000,000. monthly. In Puerto Madero, the rent ranges from USD 16 to USD 40 per m2.
Future
A year with challenges is anticipated for tenants who have contracts adjusted for inflation during the first semester.Cabildo Avenue with few free spaces and that are offered on location
Akian added: “With prospects for stabilization and decline in inflation subsequently. However, it is expected that the demand for commercial premises will continue to rise.”
Specialists envision a promising future in the development of the sector, driven by changes in lifestyle. Adaptation to the new normal generated an increase in demand for neighborhood stores, especially due to the rise of teleworking, where proximity and accessibility are key for those seeking convenience when making purchases close to their homes.
“Areas such as Villa Luro (Avenida Emilio Castro), Versalles and Villa Devoto are undergoing a transformation and are emerging as areas of great interest. The arrival of a first brand anywhere, backed by careful analysis, usually triggers a positive effect for the comprehensive development of the area,” Amendola concluded.
