BuySellBA
Administrator
Rentals: Which is the most expensive neighborhood to live in the City? - Ambito
Source:
Alquileres: cuál es el barrio más caro para vivir en la Ciudad
Tras la derogación de la ley de alquileres aumentó exponencialmente el stock. La oferta de alquileres es tres veces mayor a la registrada en febrero de 2023.
www.ambito.com
July 31, 2024
Following the repeal of the rental law, the stock increased exponentially. The rental offer is three times higher than that recorded in February 2023.
Puerto Madero is the most expensive neighborhood to rent in the City.
Although apartment prices continue to rise , a slowdown has begun to be observed in recent months. Beyond the variation in prices, the most expensive neighborhoods to rent continue to be: Puerto Madero, Palermo and Núñez.
The average price of a two-room apartment located in the City of Buenos Aires is $464,742 per month and registered an increase of 3.3% in July. In 2024, the increase was 39% , 50 percentage points below the accumulated increase in the same period of 2023 (89.6%), according to a report by Zonaprop.
The supply volume fell by 4.8% month-on-month, however, it remains three times higher than that recorded in February 2023.
Rental prices by type
A 40 m2 studio apartment rents for 397,171 pesos per month , a 50 m2 two-room apartment for 464,742 pesos per month, and a 70 m2 three-room apartment for 628,168 pesos per month.The rental price of new contracts slowed down in CABA starting in February 2024. In July, it registered a monthly increase of 2.2%, while in the last twelve months, it accumulated an increase of 163.7%, thus advancing below inflation (265.7%) and the ICL adjustment (249.1%).
Which are the most expensive and cheapest neighborhoods to rent?
Puerto Madero leads the ranking of the most expensive neighborhoods to rent , with an average price of $958,337 per month. Palermo and Núñez complete the podium, with an average value of $530,763 per month and $517,793 per month, respectively.The Lugano neighborhood, on the other hand, is the most affordable neighborhood to rent, with an average price of $303,133 per month. It is followed by Floresta ($378,778 per month) and Mataderos ($386,085 per month).
Profitability continues to trend downwards
The rent/price ratio has fallen again and is now at 4.24% per year. Today, it takes 23.6 years of renting to recover the initial investment, 23.5% more than what was needed a year ago.Lugano, La Boca and Parque Patricios are the best options for renting, with a return of 6.4%, 5.6% and 5.3%, respectively. On the other hand, Puerto Madero is the neighbourhood with the lowest return, 3.4%. It is followed by Palermo (3.5%) and Belgrano (3.6%).
www.buysellba.com
