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Rentals: The neighborhoods with the most offers, their prices and where apartments are occupied the fastest - La Nacion Propiedades
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Alquileres: los barrios con más oferta, sus precios y dónde los departamentos se ocupan más rápido
Los analistas del sector inmobiliario coinciden en que la baja en la oferta de inmuebles publicados para alquilar se debe a un reacomodamiento del mercado
www.lanacion.com.ar
August 23, 2024
Real estate analysts agree that the drop in the supply of properties published for rent is due to a readjustment of the market
The supply of apartments for rent fell for the first time after the law was repealed
After a sustained increase in the supply of rentals in the City of Buenos Aires (CABA) following the readjustment of the market after the repeal of the law at the end of last year , a report reveals a change in trend: in August, the supply of apartments for rent decreased by 5.87% compared to the previous month, marking a decline after seven months , according to data provided by the Real Estate Association.
The survey indicates that, since the entry into force of DNU 70/2023, which repealed the Rental Law on December 29, 2023, the rental supply in CABA experienced a significant growth of 177.91% in the first seven months of the year . This increase was driven by the expectation of changes in the conditions of the contracts, which led many owners to put back on the market properties that had been withdrawn .
What does this decline mean?
Analysts agree that this decrease is due to a stabilization of the real estate market in which owners adapted to the new rules established by the DNU and began to rent their units again .Furthermore, analysts do not foresee a scenario with neighbourhoods where the supply of apartments is almost non-existent, as occurred in the past when the rental law was in force. Instead, they consider this decline to be a natural consequence of the market readjustment and that the apartments on offer are being rented out .
In August, the supply of apartments for rent decreased by 5.87% compared to the previous month
“Supply should not rise forever; the market has to find a balance . When the price begins to adjust, there is more turnover, the number of properties that come in is less than those that end up closing contracts, which is good,” says Soledad Balayán, owner of Maure Inmobiliaria. The specialist details that the peak of supply was reached in June (according to Zonaprop), and now it has begun to fall. “What was needed was to reach a balance in the price.”
He also points out that, despite changes in supply, rental valuations remain stable , indicating a consolidation of values in the market.
A key fact to keep in mind is that, of the total supply of rental properties, 95.59% corresponds to apartments , which reflects the predominance of this type of property in the city's residential market.
The neighborhoods with the highest supply of rental units
According to the report, the six neighborhoods that concentrate the majority of the rental supply in CABA are Palermo, Belgrano, Recoleta, Barrio Norte, Caballito and Puerto Madero . These represent 60.46% of the total supply.Although Palermo is at the top of the list , this neighbourhood registered a 3.11% drop in the number of properties available for rent , reflecting the general trend observed throughout the city. In other words, it is the neighbourhood in which properties are rented the fastest.
Palermo is one of the most expensive neighborhoods to rent an apartment
As for the rental prices of properties published on the city's real estate sites, there was a 3.3% increase in the listing value in July compared to the previous month, breaking with the sharp slowdown seen in previous months, according to the index published every month by Zonaprop.
In numbers, the average rent for a one-room apartment in the city last month was $397,171 per month , a two-room apartment can be rented for $464,742 , while a three-room apartment can be rented for $628,168, according to Zonaprop .
How much does it cost to rent in the 5 neighborhoods with the highest rental supply?
Depending on the area in which the properties are located, apartment prices vary: the real estate portal provides the average monthly prices for apartments in the different neighborhoods of the city, using two-room units as a concrete example.
- Puerto Madero: $958,337
- Palermo: $530,763
- Belgrano: $505,424
- Recoleta: $493,906
- Horse: $452,340
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