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Rentals in Greater Buenos Aires: Prices slow down and increases for new contracts are lower than a month ago - Infobae
Source:
March 16, 2024
In any case, the values remain high for the income of wage earners. In the North GBA, a three-room apartment has an average of $569,331 per month, while in the West and South, the average is $353,510 per month
By José Luis Cieri
Rental prices are slowing down although it is still expensive to pay monthly home maintenance (Illustrative image Infobae)
Rents in Greater Buenos Aires (GBA) remain at high values, although between February and March a slowdown was observed in contract start prices, with a month-on-month increase that fluctuates around 8.3%, compared to the jump of the 15.9% that had been registered in January. Despite this slowdown, the cost for wage earners remains high to maintain a home.
The Zonaprop report confirmed that a two-room apartment in northern GBA has a value of $363,590, while a three-room apartment is rented for $569,331 per month.
Nordelta, in the Tigre district, is the neighborhood with the most expensive offer on the market, with a value of $528,554 per month. They are followed by Vicente López, with a value of $522,285 and Manuel Alberti (Pilar party) with a value of $502,847 per month.
The "hot map" of rentals in the GBA North Source: Zonaprop
On the other hand, San Miguel and Muñiz have the lowest prices, with $261,346 and $269,988 per month, respectively.
Source: Zonaprop
On the contrary, the cheapest rentals are found in Burzaco, Almirante Brown district, with $175,040 per month, Moreno $197,455 and Villa Luzuriaga, La Matanza, with $210,758 per month.
North heading
Since the DNU came into force, a notable change was noted in the willingness of owners to rent their properties again in the areas of San Miguel, Bella Vista, Pilar, among other areas in the north of the GBA.Ariel Córdoba, from Córdoba Properties, highlighted to Infobae that after facing the restrictions imposed by a law that was not always in their favor, “the repeal of the rule was received with satisfaction by the owners. Supply experienced a marked increase of approximately 20% since last January, considering the previous shortage. However, the current focus lies on establishing an equitable rental price, where both owners and tenants feel comfortable.”
In this new stage and deregulated contracts, the role as intermediaries focuses on facilitating communication between both parties in a time of uncertainty.
How much the values varied, by area Source: Zonaprop
“We recommend two-year contracts, given the current unpredictable context. Each agreement includes a clause that allows the amounts to be adjusted in case of abrupt economic changes. Although annual inflation exceeds 276%, in our area it is not feasible to apply such adjustments. Therefore, we propose to review the situation every four months and adjust as necessary, with the aim of maintaining a balance for both parties,” Córdoba added.
As for the current values, there were minimal fluctuations compared to previous days. Two- and three-room apartments, as well as three-room houses with and without a garage, maintain stable prices. For example, a two-room apartment with a garage has an approximate value of $240,000 plus expenses, while a four-room house with a garage, park, pool and barbecue costs around $395,000 per month.
Córdoba expanded: “In the last two months, we noticed in the northern area, specifically in Pilar and Escobar, an increase in the closing of two-year rental operations in houses in gated communities, with advance payments of the total contract, benefiting both owners as well as tenants.”
In the south
Between Avellaneda and Lanús, post DNU, the supply grew strongly compared to last December when shortages were the protagonist.
The variations, in the southern zone Source: Zonaprop
Jorge Antúnez Vega , of Antúnez Vega SA, observed a significant change in the disposition of owners towards the housing rental market. “12 or 24 month contracts with quarterly updates by the Consumer Price Index (CPI) prevail, and some agreements were also signed in foreign currency, such as the US dollar, offering flexibility in both terms and payment methods. , which benefits both contracting parties.”
In this new stage, tenants receive comprehensive advice to take advantage of the opportunities offered by the DNU. Real estate agents work hard to find solutions that fit the budget and income of tenants.
“The freedom to set deadlines and adjustment methods provides a flexible framework to adapt to the needs of all those involved,” added Antúnez Vega.
The values of apartments and houses in the South GBA vary between $250,000 and $550,000 per month, depending on the state and location.
Merlo and Moron
In this part of the West of the GBA, supply has not yet expanded as strongly as in other corridors.“We have noticed a slight growth. However, we do perceive a more positive disposition on the part of the owners to start new contracts or renew existing ones. This attitude can be attributed in part to the possibility of agreeing on adjustments for shorter periods, which generates greater confidence in putting properties up for rent, especially in the center of the city of Merlo and in areas near Morón,” said Lorena Bertomeu . , by Bertomeu Properties.
Tenants feel unprotected before the DNU. Although they understand that rents were outdated with the previous adjustment method, the stability in their salaries and the loss of a regulatory framework make their feeling of lack of protection.
Bertomeu recommended: “Our advice is to maintain clear communication to negotiate possible adjustments and conditions in the contracts. If they are tenants seeking renewal of the contract, their behavior, compliance with timely payment, care of the property helps a lot.”
A duplex in the Merlo area that costs approximately $380,000 per month
Being willing to consider different adjustment options and what possible impact they will have on their purchasing power will help them choose one adjustment method or another, that is essential.
In this radius of the western suburbs, the most used adjustment methods are the Lease Contract Index (ICL) or the CPI, with quarterly or semi-annual terms.
Regarding current values, it is expected that prices will continue to adjust month by month in line with inflation. “Price stability could begin to be noticed when the rents made under the new DNU begin to adjust and the owners perceive that the rents are not below the market value, as was the case with the previous legislation,” Bertomeu said.
Between Merlo and Morón, two-room apartments without a garage go up to $180,000 per month; with garage, between $200,000 and $230,000, while the three rooms with garage can go up to 320,000 pesos. Three-bedroom houses with a garage are worth between $350,000 and $400,000 a month.
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