BuySellBA
Administrator
Rentals: Listing prices were flat and had the biggest increase in the last five months - La Nacion Propiedades
Source:
Alquileres: los precios de publicación venían planchados y tuvieron el mayor aumento de los últimos cinco meses
Luego de evidenciar una notable desaceleración en los aumentos de los alquileres, en julio se registró la mayor suba desde enero
www.lanacion.com.ar
August 4, 2024
After a notable slowdown in rent increases, July saw the largest increase since January
CABA Rentals: the increase in rents broke the barrier of the slowdown that had been dragging on since January
After five consecutive months in which rents in the city of Buenos Aires registered a strong deceleration in the increase in listing prices. After increasing double digits with 21% in January and 18.6% in December, in July that feeling of “slow” prices was broken : the seventh month of the year registered an increase of 3.3% and represents the largest rise since January , according to the latest report from Zonaprop , since in June the increase had been 2.2%; in May 2.3%; in April 1.9%; in March 1.3% and in February 2.9%.
Despite this increase, listing prices continue to be below inflation data : in June it was 4.6%, the last month surveyed. Another fact to keep in mind is that, so far in 2024, the accumulated increase is 39% , that is, 50 percentage points below the accumulated increase in the same period of 2023 (89.6%).
In this way, the values of the new contracts have accumulated an increase of 163.7% in the last 12 months, advancing below inflation (271.5% in June 2024, the last measurement) and below the ICL adjustment (241.7%).
In concrete numbers, the average price of a one-room apartment of 40 m² is rented for $397,171 per month, a two-room apartment of 50 m² for $464,742 per month and a three-room apartment of 70 m² for $628,168 .
Rentals: Listing prices in July increased by 3.3% month-on-month
But the impact of contractual freedom brought about by the repeal of the rental law was not only reflected in the increases in apartment listings below inflation rates. Supply is a key protagonist .
Since the end of the pandemic, the rental supply has systematically decreased due to the effect of the rental law , reaching an all-time low in February 2023. Since January of this year, after the law was repealed, the market has changed : the supply in the first half of the year grew by more than 190% . “ There is more supply than demand, so prices have increased in this last month ,” analyzed Leandro Molina, director of Zonaprop at the Real Estate Argentina summit event organized by LA NACION .
Other data shared by the executive is that a property for rent in CABA lasts, on average, 23 days published. “Although sometimes the ads are canceled for reasons other than the signing of a lease, it is a very different number from a year ago where the properties offered were often rented on the same day ,” he explained.
Neighborhood by neighborhood: how much does it cost to rent an apartment in CABA
According to data provided by the platform, Puerto Madero leads the ranking of the most expensive neighborhoods to rent, with an average price of $958,337 per month for a two-room apartment. Palermo and Núñez complete the podium , with an average value of $530,763 and $517,793 per month, respectively.
Palermo is the second neighborhood with the most expensive listing prices for renting an apartment
On the other hand, Lugano is the most affordable neighborhood to rent , with an average price of $303,133 per month. It is followed by Floresta and Mataderos with $378,778 and $386,085 per month, respectively.
As for the neighborhoods with the average prices in the city, they are:
- Villa Urquiza: $489,756
- Paternal: $456,737
- Chacabuco Park: $440,061
- Saint Nicholas: $432,086
- Constitution: $417,294
As for the neighborhoods that had the largest increase in their listing prices in the last 12 months , Puerto Madero leads the ranking with a year-on-year variation of 230%. This is followed by Mataderos (212.8%) and Parque Avellaneda (209.7%).
While on the other hand are : Palermo, Villa Urquiza and Retiro with an interannual increase of 134.7%, 134.2% and 117.2%, respectively.
www.buysellba.com
