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Rentals: How much does a 1-bedroom apartment cost, neighborhood by neighborhood, in the city of Buenos Aires - La Nacion Propiedades
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Alquileres: cuánto cuesta un departamento de dos ambientes, barrio por barrio, en la ciudad de Buenos Aires
Los precios de los departamentos publicados en los portales inmobiliarios continúan en alza
www.lanacion.com.ar
July 12, 2024
Apartment prices continue to rise, although at a slower pace than in previous months and the slowdown is evident
Prices of apartments for rent published on real estate portals registered a sharp slowdown for the fifth consecutive month
Rental prices for properties located in the City of Buenos Aires registered a slight increase in the publication value, 2.2 % in the month of June , registering a strong deceleration for the fifth consecutive month after increasing 21% in January and 18.6% in December, according to the index published every month by Zonaprop .
This phenomenon occurs in a context marked by the validity of the Decree of Necessity and Urgency (DNU) promoted by President Javier Milei in December, a set of measures that marked a radical change in the regulation in the real estate market due to the repeal of the rental law , and which is currently under discussion.
In turn, the rental offer has accumulated an increase of 192% so far this year . “After reaching historic lows in February 2023, new increases in the supply of apartments for rent are recorded, especially from December 2023 onwards,” says Leandro Molina, director of the real estate portal .
New rental contracts have accumulated a price increase of 184.2% in the last 12 months , advancing below inflation ( 276.4 %, taking the latest data from May) and above the ICL adjustment (241.7%). The latter is the index by which the contracts signed under the law repealed by the DNU in June were adjusted annually.
The repeal of the rental law (27,551), approved in July 2020 and subsequently modified in October 2023, allowed that from now on, freedom between the parties prevails in the negotiation of crucial points in rental contracts. The key for both parties, landlords and tenants, is to reach written agreements on these points, as well as any other relevant aspects, in order to prevent possible conflicts in the future.
Rents slowed for the fifth consecutive month
In numbers, the average rent for a one-room apartment in the city is $391,910 per month , a two-room apartment can be rented for $449,915 , while a three-room apartment can be rented for $602,830, according to Zonaprop .
Regarding profitability, it decreased in June. The rent/price ratio is 4.49% annually. Today, 22.3 years of rent are needed to recover the investment, 10.1% more than what was required a year ago. Lugano and La Boca remain the best neighborhoods for investors looking for income , with an average return of 6.8% and 5.9%, respectively. While Palermo (3.7%), Puerto Madero (3.8%) and Belgrano (3.8%) are the ones that generate the lowest profitability.
The most expensive and cheapest neighborhoods to rent a 1-bedroom apartment in CABA
Depending on the area in which the properties are located, apartment prices vary: the real estate portal provides the average monthly prices for apartments in the different neighborhoods of the city, using two-room units as a concrete example.In this case, Puerto Madero occupies first place as the most expensive neighborhood , with an average price of around $997,793 per month , while on the other hand, Lugano is located as the cheapest with $295,056 per month .
The neighborhoods with the most expensive rents
- Puerto Madero: $997,793
- Palermo: $516,957
- Nunez: $506,335
- College students: $496,296
- Belgrano: $493,382
Belgrano is among the most expensive neighborhoods to rent, with an average rent of $493,382
Apartment prices in the most affordable neighborhoods
- Lugano: $295,056
- Slaughterhouses: $359,023
- Forest: $367,911
- Liniers: $368,870
- Barracks: $388,530
Intermediate rental values
- Villa Urquiza: $475,065
- Paternal: $441,374
- Patricios Park: $424,894
- Saint Nicholas: $417,894
- Avellaneda Park: $403,671
The neighborhood with the highest year-on-year increase is San Telmo
As for the year-on-year increase, the neighborhoods that showed the greatest rise were San Telmo, Parque Avellaneda and Montserrat, with an increase in the last 12 months of 238.1%, 229.1% and 226.2% respectively.
On the other hand, there are Palermo, Villa Ortúzar and Retiro . In this case, rents grew by 151.6%, 151.4% and 149.1% respectively. A fact to keep in mind is that, in addition to being the neighborhoods that showed a smaller variation in prices compared to the rest of the areas , they are also below the inflation advance in the last year, which was 276.4 % in May (last report).
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