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Rentals in CABA after Milei's DNU: The offer jumped 60% and houses were published again after eight months - Infobae
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Alquileres en CABA luego del DNU de Milei: la oferta saltó un 60% y volvieron a publicarse casas después de ocho meses
Las viviendas porteñas publicadas son unas 9.000, según un análisis privado. Un aumento diario en las propuestas marca la tendencia actual
www.infobae.com
January 24, 2024
The Buenos Aires homes published are about 9,000, according to a private analysis. A daily increase in proposals marks the current trend
By José Luis Cieri
Houses for rent reappeared in different Buenos Aires neighborhoods after more than 8 months without stock
The rental supply in the city of Buenos Aires is experiencing a notable rebound, reaching nearly 9,000 homes in some portals. It is a figure comparable to that recorded 20 months ago. This increase is observed in the context after the Decree of Necessity and Urgency (DNU) that repealed the Rental Law.
Another revealing fact is that after more than 8 months there are now even houses for rent and in pesos.
According to the Real Estate Monitor report, the rental supply in CABA registered a notable increase of 60% compared to January 2023, when there were 5,155 apartments, 256 houses and 128 PH for rent, according to Zonaprop data, which totaled 5,539 units in several Buenos Aires neighborhoods.
Daniel Bryn, Real Estate expert and person responsible for this analysis, told Infobae that “new rental ads are published daily in CABA, covering all neighborhoods. The growth is evident for all types of properties, including houses, townhouses and especially apartments.”
In addition, there is a beginning of supply of 4-room apartments in areas such as Once, San Cristóbal or Caballito, with price ranges ranging between $300,000 and $400,000 per month.
Gustavo Ortolá Martínez , from Like Propiedades, confirmed: “In the first two weeks of the year, we concluded more rental contracts than in the entire last semester. Currently, we have a stock of rental properties that, unlike previous years, remain on offer for an average of 8 to 10 days. In the past, they were rented immediately. “This change reflects, with demand still firm, that there is a greater supply and that tenants have the opportunity to analyze alternatives.”
What contracts are being made
In real estate agencies, it is common these days to make contracts with adjustments agreed by common agreement between owners and tenants, applying both the Consumer Price Index (CPI) and the Lease Contract Index (ICL) prepared by the Central Bank to the repealed law, which combines a 50% inflationary component and a 50% salary increase and which remains in force for contracts signed until last October.“It is notable to observe how many owners, previously interested in renting in dollars, now prefer to opt for contracts in pesos with more frequent adjustments, which can be made quarterly or quarterly. This flexibility contrasts with the old law that allowed adjustments only once a year,” Bryn noted.
Now there are also more than 650 4-room apartments, when last October there were only 400 units with these characteristics in the entire city.
The expansion of the offer is not limited only to CABA, but extends to other cities such as La Plata, Rosario and various areas of Greater Buenos Aires.
An example of this growth is seen in the collaborative platform of real estate brokers in Rosario, known as Propia, where 900 apartments are available for rent. This figure contrasts with the 500 apartments that there were only 5 months ago.
Tips
Regarding recommendations, experts emphasize the importance of correctly processing this freedom for post-DNU agreements. Currently, all the variables of the contract are released, which is why the vital intermediation of a professional real estate broker stands out to arbitrate this situation. This is one of the main recommendations for those who are about to sign a pact these days.Ortolá Martínez expressed: “The owners want to put their properties back into rentals reached with the DNU, fearing that it will be eliminated. "They want to place the property now under the framework of deregulation, of the will of the parties, in an environment of freedom where the protagonists agree on the variables of the contract."
In the current panorama of constant regulatory changes regarding rentals, old contracts, based on pre-2020 regulations, the old law and its modifications, as well as the recent change through DNU, became obsolete. This fact increases the likelihood of future conflicts due to outdated conditions, highlighting the importance of obtaining advice and clearly understanding what aspects should or should not be included in current contracts.
“Following the recent changes, we still observe that the parties do not have a complete understanding of the negotiable conditions in the new contracts. The focus is mainly on the possibility of more frequent adjustments based on specific indices. It is essential to remember that currently, not only the price can be negotiated, but also aspects such as the initial deposit, the payment currency, the detailed termination by the owner with its penalties, and the expenses that each party assumes throughout the period. of the contract,” Bryn explained.
Downhill start values
As a result of the current context, it is highlighted that the prices initially proposed by the owners, which significantly exceeded previous trends, do not obtain immediate acceptance. This kicks off a previously underrated element in the rental space: price negotiation.This dynamic leads to a reduction in the starting point of the agreement, a trend that is observed in real estate companies.
“In terms of minimum values, we handle specific figures for areas such as Villa Devoto and Villa del Parque. For a two-room apartment, the values range between $300,000 and $350,000 per month, while for a three-room apartment, they range from $400,000 to $450,000 per month,” concluded Ortolá Martínez.
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