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Real Estate News Rentals without brakes - Reporte Inmobiliario

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Rentals without brakes - Reporte Inmobiliario

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October 11, 2023



They are up 152% on average since January. Since September of last year the increase was 227%. Offer data and values in CABA by neighborhood.

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Last September the number of used studio to 3 bedrooms apartments available for rent, which were published on property search engines, was only 621 units. The current figure is 64.5% lower than that existing a year ago (1,748). Although a year ago the supply was already scarce, the current supply is practically insignificant for a city with the mobility and interest that Buenos Aires generates to reside.During September throughout the city of Buenos Aires, those looking to rent or change their current location only found 196 options for studio apartments, 314 for 1 bedroom, 98 for 2 bedrooms and only 13 for 3 bedrooms.The data arises from the comparison of the figures with which Reporte Inmobiliario nourishes its bases and that it obtains from applying new data mining technologies to all the offer publications available on the Internet that can be clearly identified and georeferenced.To this resounding drop in supply, which was already very scarce a year ago, is added an acceleration in the increase in its initial price which reaches, in the general average of apartments of all types, 227% year-on-year and which grows month by month. month.In September 2023, the average value of the existing offer for a studio unit was $199,500 per month, while the average rental value of a 1-bedroom unit reached $243,750.The quotes for the two-bedroom apartments offered for rent last September recorded an average value of $292,500, while the few units with 3 bedrooms available reached an average price of $300,000.Meanwhile, on Tuesday, October 10, the Chamber of Deputies approved modifications to the recent rental law enacted just 3 years ago. The need to change national legislation that is just over 3 years old is an explicit recognition of the failure of the intended objectives of improving tenants' accessibility to rental housing that was put forward at the time of enacting the law. The changes introduced by deputies based on the modifications imposed in the Senate are also unlikely to change the course of a market with almost zero supply and increasingly higher prices, since the true underlying problem is unknown or relativized: inflation and lack of confidence.


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