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Rentals in CABA: How much does a two-room apartment cost neighborhood by neighborhood - La Nacion Propiedades
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Alquileres en CABA: cuánto cuesta un dos ambientes barrio por barrio
A partir de la derogación de la ley de alquileres, un dos ambientes en los barrios más caros de la ciudad puede valer más de medio millón de pesos por mes; en qué barrios se consiguen los más “baratos”
www.lanacion.com.ar
February 8, 2024
Since the repeal of the rental law, a two-bedroom in the most expensive neighborhoods of the city can be worth more than half a million pesos per month; In which neighborhoods are the “cheapest” ones available?
By Candela Contreras
The average rent in the cheapest neighborhood in the city to rent now exceeds 300 thousand pesos
What you have to know
- The implementation of Javier Milei's DNU, which repealed the rental law, has led to a 62% increase in the supply of apartments published in January in CABA.
- Despite this increase, the average rental price in CABA registered a record increase of 21% compared to December 2023.
- Two-room apartments led the increase in publications, followed by single-room apartments, three-room apartments, four-room apartments, and units with five or more rooms.
This summary was carried out by artificial intelligence under the supervision of LA NACION editors.
In the midst of the significant change that marked the real estate market with the implementation of the Decree of Necessity and Urgency (DNU) of Javier Milei, with the repeal of the rental law as one of its most relevant points and enabled absolute freedom when negotiating contracts, the offer of apartments published in January grew by 62% compared to the previous month in CABA.
The phenomenon had been anticipated by LA NACION days ago, when Soledad Balayan, director of Maure Propiedades , published an analysis in which she anticipated a 50% increase in supply in the first 20 days of the new year.
But, despite this increase, the average rental price in the Autonomous City of Buenos Aires (CABA) registered a record increase of 21% compared to December 2023, according to the latest ZonaProp report.
In this sense, the report indicates that the rent for a two-bedroom apartment in the city is $405,218 on average per month, a value that marks the record monthly increase since March 2012 (beginning of the series). However, despite the number recorded, its growth is below inflation, which was 25.5% in December.
Currently, the average cost of renting a two-bedroom apartment in the city of Buenos Aires is $405,218 per month.
Among the typologies, the two environments led the increase in publications with 68% after the rental law was repealed , followed by the studio apartments, with an increase of 60%. For their part, the three rooms experienced an increase of 48%, the four rooms 28%, and units with five or more rooms grew by 5%, according to the data analyzed by Soledad Balayan, owner of Maure Inmobiliaria, based on the Zonaprop publications.
However, these data take on even greater importance when considering seasonality, since January is generally characterized as a “brake” month for the rental market . The notable increase in supply could be attributed to the new flexibility that the parties involved have to apply conditions and various adjustment rates and terms , as well as the freedom to choose the contract period that best suits their needs.
In numbers, a 40 m² studio apartment in the Federal Capital is rented for $327,295 per month, one with two rooms and 50 m² reaches $405,218 per month, in December the same unit cost $334,888, and one with three rooms and 70 m² has a price of $558,710.
Two-room apartment in CABA
Furthermore, the survey indicates that the price of rentals has accumulated an increase of 308.1% in the last 12 months, the maximum recorded since the beginning of the series, surpassing inflation (267.7%) and the adjustment of the ICL (144.3%). “If we take the latest inflation data estimated by the Central Bank, which was 25.5% in December, the monthly increase in rents in January (21%) reflects a real drop of 4% in the month,” he analyzes Leandro Molina, director of Zonaprop.
As for the neighborhoods with record increases, Palermo stands out above the others and is considered the most expensive to rent, with a monthly value of $508,160, more than half a million pesos for a two-bedroom unit.
But, despite these values, there are still neighborhoods where you can get “cheap” two-room apartments for less than $350,000. These are the neighborhoods and their average prices:
- Liniers: $301,392
- Mataderos: $310,634
- Monte Castro: $314,811
- Floresta: $316,520
- Santa Rita: $318,991
- Barracas: $329,749
- Vélez Sarsfield: $342,225
- Constitution: $345,833
- San Cristobal: $346,679
In Palermo, the average rent for a two-room apartment exceeds half a million pesos
On the opposite side, a no small fact is that there are already seven neighborhoods in the city in which renting a two-room apartment is available for more than $450,000 on average per month:
- Palermo: $508,160
- Belgrano: $497,300
- Chacarita: $492,018
- Núñez: $486,712
- Retiro: $466,328
- Recoleta: $462,257
- Villa Urquiza: $450,036
The list with the rental price of a two-bedroom in the neighborhoods that are in the middle zone is as follows:
- Saavedra: $445,375
- Colegiales: $437,649
- Coghlan: $437,485
- Villa Ortuzar: $414,078
- San Telmo: $406,527
- Villa Crespo: $406,223
- Montserrat: $399,991
- Paternal: $397,500
- Caballito: $395,763
- Chas Park: $395,728
- Almagro: $394,644
- Villa Pueyrredón: $391,978
- Villa Devoto: $387,405
- Chacabuco Park: $386,018
- Villa del Parque: $372,662
- Villa General Miter: $366,101
- San Nicolás: $364,883
- Villa Luro: $361,586
- Flores: $357,820
- Boedo: $357,077
- Balvanera: $352,247
In new contracts, what index should be used to adjust the values?
Owners and tenants can freely set the rate under which the adjustment will be established during the duration of the contract.
When choosing an apartment to rent, as of the repeal of the law, all agreements established must be agreed upon with absolute freedom between the parties . This means that the term of the contracts will be the one that the parties have established, there is no minimum legal term, but if they do not clarify it, it will be two years. In addition, they may arrange the adjustment of the value of the rents and the use of any index, public or private, expressed in the same currency in which the rents were agreed will be valid.
This last point may be one of the most sensitive taking into account the country's inflationary situation , which in December reached its maximum in 33 years and was 25.5%, while that of 2023 reached 211.4% , more double the 94.8% accumulated in 2022.
Currently, instead of using the Rental Contract Index (ICL) used by contracts signed under the rental law after July 2020 or the Casa Propia index (which applied to the few contracts that were signed between 18 last October and today), tenant and owner will be able to freely agree to which index, public or private, to tie the value of the contract.
"Beyond what the index is, the objectives of the parties are two: to maintain the real value of the rent adjusted for inflation , for some the expense and for others the income, and on the other hand to provide certainty that it will be comply with the payment ,” explains Federico González Rouco, economist on the Empiria team, Hernán Lacunza's consulting firm. This occurs in a context in which it must be taken into account that the higher the inflation , the greater the periodicity of the adjustment should be so that this initial value does not disappear . The economist adds that a large part of the problem with the rental law was that: “The term of the increases or the percentage was not consistent with the inflationary reality . ”
The specialist places main emphasis on the use, first, of the Consumer Price Index (CPI) and, secondly, of the Wage Index to adjust the rental values in the contracts signed after the repeal of the rental law. :
- The Consumer Price Index (INDEC) : measures the variation in prices of goods and services representative of household consumption expenditure compared to the prices in force in the base year. According to González Rouco, this index is the one that will be used the most , “because it is not only the best known, but it is the closest to people's income” and for the owner it will be a calculation that can be used as a reference and made. easily.
- The Salary Index (INDEC) : estimates, based on the comparison of successive months, the variations in salaries in both the public and private sectors in each month. "This index could be used as a good indicator because in the long term, even though today we are at a very low salary level, on average salaries and inflation go hand in hand, and at some point they will have to recover,” says the specialist.
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