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Rentals: Which are the most expensive and cheapest neighborhoods in Greater Buenos Aires? - Infobae
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www.infobae.com
January 22, 2025
A private report examined current apartment prices in Greater Buenos Aires, identifying the most affordable and most expensive areas. It also analyzes recent variations and the dynamics of the real estate market in the region.
By Jose Luis Cieri
A woman walks through a property she intends to rent in the GBA. Although current values remain high, increases have slowed following the repeal of the Rental Law and the reduction in inflation (Illustrative Image Infobae)
A private analysis of the real estate market situation in Greater Buenos Aires (GBA) during 2024 found that rental prices were below inflation and confirmed which are the most expensive and cheapest areas to rent apartments in the different corridors of the suburbs.
According to Zonaprop, all areas of the GBA experienced significant increases in rental prices. The region with the highest year-on-year increase was the west-south GBA , which presented an accumulated increase of 96.5% in 2024 , and exceeded the 80.6% registered in the north GBA and the 64.4% in CABA .
However, these increases are considerably lower than those recorded in 2023, when the increase in GBA West-South reached 230.5% , reflecting a broad deceleration.
Leandro Molina , country manager of Grupo QuintoAndar (which owns Zonaprop) for Argentina and Peru, explained to Infobae that, although decree DNU 70/2023 repealed the Rental Law and this increased supply by 42% compared to 2023 , the rise in demand remains limited, with an 8% growth : “Inflation drove the increases, although we saw lower percentage variations than in previous years . ”
Source: Zonaprop
This phenomenon is also visible in the monthly evolution towards the end of 2024: the increases, which were around 13% to 15% in the first months after the decree, fell to 4% in GBA west-south and 2% in GBA north in December.
In this corridor, the annual rent adjustment is 2.9 times below the 2023 indicator (232.4%) and 37.5 percentage points below inflation ( 117.8% accumulated in 2024 according to INDEC ). Currently, a one-bedroom apartment of 50 m² costs $523,230 per month, while a two-bedroom apartment of 70 m² costs $717,384.
On the other hand, José León Suárez (San Martín district) is positioned as the most affordable neighborhood, with an average price of $395,495 per month. San Andrés ($416,378) and Pilar ($436,561) complete the ranking of the most affordable options.
On the other hand, in GBA west-south , the most expensive neighborhood is Canning , with an average of $501,240 per month. It is followed by Sáenz Peña ($496,958) and Santos Lugares ($494,027 per month) . On the other hand, Gregorio de Laferrere has the cheapest offer, with an average price of $280,376 per month . They are followed by Merlo ($318,521) and La Tablada ($339,101 per month) .
In contrast, the cheapest rental options are found in Gregorio de Laferrere (280,376 pesos) , in the west-south of the suburbs, and in José León Suárez (395,495 pesos) for the northern region.
Source: Zonaprop
Meanwhile, GBA North showed a slightly larger increase of 2.7% , with m2 reaching an average of USD 2,332 .
Molina explained that this reactivation is largely due to “the implementation of measures such as the reactivation of mortgage loans and the Money Laundering Law” , in addition to the slowdown in inflation. These policies allowed a certain regularization in the economy of the sector , although current prices are still 18.6% and 37.5% below the historical highs of 2019 in GBA west-south and north, respectively.
Among the most expensive neighborhoods for sale are Tristán Suárez (USD 2,838 per m2) in GBA west-south and La Lucila (USD 3,267 per m2) in GBA north. On the contrary, the most affordable neighborhood in GBA west-south is San José (between the districts of Lomas de Zamora and Almirante Brown), with an average value of USD 416 per m2 , while in GBA north, Parque San Miguel leads the economic options with USD 757 per m2 .
Reasons behind fluctuations 2024
The price performance in 2024 has diverse foundations. As for rents, the rise in demand in CABA exceeded that of GBA , which drove a faster recovery. According to Zonaprop, supply in the capital rose by 71%, while demand increased by 11% , compared to the more modest increases of 42% and 8%, respectively , in the Buenos Aires metropolitan area.
On the other hand, the impact of Decree DNU 70/2023 was far from homogenizing the market. While it favored a general increase in supply, the recovery process was uneven between the different areas of the metropolitan area.
Molina said: “Vicente López, San Isidro and Tigre, in the north, as well as La Plata, Lomas de Zamora and La Matanza in the west and south, concentrate a large part of the search and supply activity . ”
Looking ahead to 2025 , expectations in the buying and selling market remain optimistic.
“Just as there was a revival of the real estate market in 2024, we expect that with the continuity of mortgage loans, measures such as money laundering and more controlled inflation, there will be favorable results for the sector ,” Molina concluded.
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Source:
Alquileres: cuáles son los barrios del Gran Buenos Aires más caros y más baratos
Un informe privado examinó los precios actuales de los departamentos en el conurbano bonaerense, identificó las zonas más accesibles y las más costosas. Además, analiza las variaciones recientes y la dinámica del mercado inmobiliario en la región
www.infobae.com
January 22, 2025
A private report examined current apartment prices in Greater Buenos Aires, identifying the most affordable and most expensive areas. It also analyzes recent variations and the dynamics of the real estate market in the region.
By Jose Luis Cieri
A woman walks through a property she intends to rent in the GBA. Although current values remain high, increases have slowed following the repeal of the Rental Law and the reduction in inflation (Illustrative Image Infobae)
A private analysis of the real estate market situation in Greater Buenos Aires (GBA) during 2024 found that rental prices were below inflation and confirmed which are the most expensive and cheapest areas to rent apartments in the different corridors of the suburbs.
According to Zonaprop, all areas of the GBA experienced significant increases in rental prices. The region with the highest year-on-year increase was the west-south GBA , which presented an accumulated increase of 96.5% in 2024 , and exceeded the 80.6% registered in the north GBA and the 64.4% in CABA .
However, these increases are considerably lower than those recorded in 2023, when the increase in GBA West-South reached 230.5% , reflecting a broad deceleration.
Leandro Molina , country manager of Grupo QuintoAndar (which owns Zonaprop) for Argentina and Peru, explained to Infobae that, although decree DNU 70/2023 repealed the Rental Law and this increased supply by 42% compared to 2023 , the rise in demand remains limited, with an 8% growth : “Inflation drove the increases, although we saw lower percentage variations than in previous years . ”
Source: Zonaprop
This phenomenon is also visible in the monthly evolution towards the end of 2024: the increases, which were around 13% to 15% in the first months after the decree, fell to 4% in GBA west-south and 2% in GBA north in December.
More and less
Geographically, the highest rents in GBA North are found in neighborhoods such as La Lucila ($631,630 per month) , Vicente López district, followed by Olivos ($630,419) and Vicente López ($609,379 per month) .
In this corridor, the annual rent adjustment is 2.9 times below the 2023 indicator (232.4%) and 37.5 percentage points below inflation ( 117.8% accumulated in 2024 according to INDEC ). Currently, a one-bedroom apartment of 50 m² costs $523,230 per month, while a two-bedroom apartment of 70 m² costs $717,384.
On the other hand, José León Suárez (San Martín district) is positioned as the most affordable neighborhood, with an average price of $395,495 per month. San Andrés ($416,378) and Pilar ($436,561) complete the ranking of the most affordable options.
On the other hand, in GBA west-south , the most expensive neighborhood is Canning , with an average of $501,240 per month. It is followed by Sáenz Peña ($496,958) and Santos Lugares ($494,027 per month) . On the other hand, Gregorio de Laferrere has the cheapest offer, with an average price of $280,376 per month . They are followed by Merlo ($318,521) and La Tablada ($339,101 per month) .
In contrast, the cheapest rental options are found in Gregorio de Laferrere (280,376 pesos) , in the west-south of the suburbs, and in José León Suárez (395,495 pesos) for the northern region.
Slight recovery after years of decline
In the purchase and sale segment, 2024 marked a turning point. According to the Zonaprop survey, the value per square meter in GBA west-south stabilized at USD 1,606 and registered an accumulated growth of 0.6% in 2024 after five years of continuous declines.
Source: Zonaprop
Meanwhile, GBA North showed a slightly larger increase of 2.7% , with m2 reaching an average of USD 2,332 .
Molina explained that this reactivation is largely due to “the implementation of measures such as the reactivation of mortgage loans and the Money Laundering Law” , in addition to the slowdown in inflation. These policies allowed a certain regularization in the economy of the sector , although current prices are still 18.6% and 37.5% below the historical highs of 2019 in GBA west-south and north, respectively.
Among the most expensive neighborhoods for sale are Tristán Suárez (USD 2,838 per m2) in GBA west-south and La Lucila (USD 3,267 per m2) in GBA north. On the contrary, the most affordable neighborhood in GBA west-south is San José (between the districts of Lomas de Zamora and Almirante Brown), with an average value of USD 416 per m2 , while in GBA north, Parque San Miguel leads the economic options with USD 757 per m2 .
Reasons behind fluctuations 2024
The price performance in 2024 has diverse foundations. As for rents, the rise in demand in CABA exceeded that of GBA , which drove a faster recovery. According to Zonaprop, supply in the capital rose by 71%, while demand increased by 11% , compared to the more modest increases of 42% and 8%, respectively , in the Buenos Aires metropolitan area.
On the other hand, the impact of Decree DNU 70/2023 was far from homogenizing the market. While it favored a general increase in supply, the recovery process was uneven between the different areas of the metropolitan area.
Molina said: “Vicente López, San Isidro and Tigre, in the north, as well as La Plata, Lomas de Zamora and La Matanza in the west and south, concentrate a large part of the search and supply activity . ”
Looking ahead to 2025 , expectations in the buying and selling market remain optimistic.
“Just as there was a revival of the real estate market in 2024, we expect that with the continuity of mortgage loans, measures such as money laundering and more controlled inflation, there will be favorable results for the sector ,” Molina concluded.
www.buysellba.com
