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Rentals: Prices drop in three of the most expensive neighborhoods in the northern area - La Nacion Propiedades
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Alquileres: bajan los precios en tres de los barrios más caros de zona norte
Una consecuencia directa del aumento de la oferta de departamentos en alquiler, a partir de la derogación de la ley, se evidencia en la baja de los valores en zonas de GBA norte
www.lanacion.com.ar
April 20, 2024
A direct consequence of the increase in the supply of apartments for rent, following the repeal of the law, is evident in the drop in values in areas of northern GBA.
Although rental prices continue to increase but more slowly than in 2023, there are three neighborhoods in northern GBA that recorded a decrease compared to the previous month
In the midst of a real estate market that is adjusting after the repeal of the rental law , on December 29, 2023 through the DNU signed by Javier Milei - and which is currently in full debate -, the offer of the apartments published increases significantly: 134% so far this year. And, furthermore, the values in which they are marketed continue to slow down : in March in the northern area of Greater Buenos Aires they increased by 2.5%, after registering an increase of 15.9% and 8.3% in January and February respectively, according to the latest Zonprop report .
According to these numbers, it is evident how the prices of apartments published on real estate platforms decreased significantly when compared to the latest inflation data: which was 11% in March , according to the National Institute of Statistics and Censuses ( INDEC). ).
Rents in GBA North increased by 2.5% in March
According to the report, the average rental price of a two-bedroom apartment in the northern area is $372,792, while a three-bedroom apartment is around $564,291. But, despite this strong slowdown and increases below inflation , there are three neighborhoods that are characterized by having the highest market values in the area and that reflected a drop in rental prices.
In concrete numbers, Nordelta and Vicente López are the most expensive neighborhoods in the corridor with average prices of $490,685 and $482,956 , respectively. For its part, Olivos is in sixth place in the ranking, with an average value of $454,248.
Olivos is one of the areas that registered a drop in the value of its rental prices compared to the previous month
The most expensive neighborhoods in northern GBA reduce prices
The neighborhoods that defended the most expensive prices began to lower them, because with greater supply the tenant has the option of migrating to other similar neighborhoods but that have lower rental values : the strong competitiveness of the market generates the possibility of negotiation between the parties .“Last year, there were people who rented without looking at the apartment because the offer was very low and they accepted what little there was because they had nowhere to live. But now if the tenant is not satisfied with the property, they can find another one quickly ,” explains Enrique Abatti , president of the Chamber of Property Owners of the Argentine Republic, and maintains that the landlords had to begin to reduce their demands because “they are already starting to see empty properties since they are not rented.”
From these phenomena that arise with the purpose of the regulations, according to the data provided by the real estate platform report, it is observed that Vicente López registered the largest drop in the amounts of his properties for rent , 7.53% in March compared to the previous month : in February a two-room apartment was rented on average for $522,285, while in the third month of the year it was rented for $482,956. In this case, this decrease could also be seen in the previous period, when the January sum was $573,019 (8.85% higher than the following month).
For its part, in Nordelta during February a two-room unit on average was rented for $528,554, in March it was rented for $490,685. These data reflect a drop in rental values of 7.16%. A figure similar to that of Olivos , where the decrease was 6.47% : in this case, a property was sold for $485,694 in February, and in March it was sold for $454,248.
The most expensive neighborhoods lower their rental prices
The most expensive and cheapest neighborhoods to rent
When thinking about which sectors of the area to choose an apartment, it is essential to be aware of which ones have the highest and lowest prices on the market. The two-bedroom properties with the most expensive offer are located in :- Nordelta: $490,685
- Vicente Lopez: $482,956
- Milberg Corner: $467,702
- Manuel Alberti: $464,569
- La Lucila: $459,923
While, for those looking for more accessible values , two-room units are rented in the following locations:
- José León Suárez: $232,419
- San Miguel: $260,661
- Pillar: $289,331
- Villa Ballester: $290,516
- Muñiz: $293,072
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