Renting a 2-bedroom apartment in CABA: surprises, increases and prices, neighborhood by neighborhood - Infobae
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www.infobae.com
October 14, 2024
Two developments have made it into the top five most expensive in the city. What are the reasons? Who is looking for such homes and what types of deals are most common?
By Jose Luis Cieri
La Algodonera, an emblematic building in Chacarita that was refurbished a few years ago and combines housing with mixed uses. On the corner of Santos Dumont and Avenida Córdoba, in one of the most expensive neighborhoods to rent 2 bedrooms in CABA
Although the offer for renting apartments in the city of Buenos Aires maintains its upward curve, the values of three-room apartments remain high, with averages of $600,000 per month, which constitutes a challenge for the pockets of those looking for a place to live.
According to Zonaprop, the overall supply of apartments grew by 56% compared to September 2023. But since the end of December 2023, with the entry into force of DNU 70 and the repeal of the Rental Law passed in 2020, the supply has increased by 166 percent. There are currently about 15,000 properties available for lease, of which just over half are offered in dollars .
Núñez and Palermo are the most expensive neighborhoods in the city, with average prices for three-room units of $819,900 and $811,200 respectively (see list at the end of the article), although in Puerto Madero, the youngest neighborhood, the offer is completely dollarized and prices for three-room apartments start at $700.
The surprise is that among the five most expensive neighborhoods are also Chacarita and Villa Pueyrredón, with $766,100 and $755,900, surpassing in the first case Belgrano, where the average value is $765,300 per month.
Leandro Molina , country manager of QuintoAndar, which manages Zonaprop for Argentina and Peru, explained to Infobae that Chacarita and Villa Pueyrredón stand out among the most thriving neighborhoods, due to their strategic location and wide connection options. “Their proximity to highly sought-after neighborhoods and the limit of occupancy, such as Palermo, as well as other booming places such as Villa Crespo, Colegiales and Villa Urquiza, also increases their attractiveness,” he explained.
Time Out magazine ranked Chacarita among the 38 coolest neighborhoods in the world , highlighting its gastronomy, art, culture and community. In 2022, the area was also part of this prestigious list, occupying the 37th place.
Patricio Bedetti , from Patricio Bedetti Servicios Inmobiliarios, pointed out that, in addition to these groups, “there are families and their pets that traditionally constituted the main target audience for these properties, although they now demand less due to changes in the market and new rental dynamics.”
For current contracts, a quarterly or four-monthly adjustment is being applied based on the Consumer Price Index (CPI) or the Rental Contract Index (ICL), as agreed between the landlord and the tenant.
“On the other hand, the new apartments that enter the market compete in a more competitive environment of prices and quality after the repeal of the Rental Law. Two-bedroom apartments are offered between $450,000 and $650,000, and the increase rates remain below inflation, encouraging the renegotiation of contracts,” Bedetti added.
This situation can be seen in neighborhoods such as Almagro, Caballito and Boedo, among others, but with lower prices than Palermo or Belgrano.
Palermo is the most popular neighborhood for renting 2-bedroom apartments in CABA
Molina explained that the preference for these neighborhoods is due to their location, accessibility to other parts of the city and their proximity to shopping centers, offices, universities and highways. The combination of services and connectivity, he explained, “is a significant attraction for those looking to establish themselves in a dynamic and well-connected urban environment.”
Renting a 2-bedroom apartment today can take up to 2 months due to high competition for units. The cheaper studio - and 1-bedroom options are rented more quickly, a trend that reflects the sales market, where the most affordable options move more quickly.
Waiting times have doubled or tripled compared to last year. “We estimate that this movement in the rental market will continue until at least the first half of 2025. If the economic situation improves and purchasing power rises, we could soon see an increase in demand. This would allow more people to improve their situation or become independent, but as long as supply remains, prices will remain controlled and rental times could be shortened,” said Bedetti.
Nuñez: $819,900.
Palermo: $811.20.
Chacarita: $766,100.
Belgrano: $765,300.
Villa Pueyrredón: $755,900.
Colegiales: $754,000.
Villa Devoto: $748,800.
Villa Urquiza: $743,300.
Chacabuco Park: $740,900.
Saavedra: $736,100.
Recoleta: $735,400.
Villa Ortúzar: $729,400.
Caballito: $706,000.
Villa Crespo: $702,900.
www.buysellba.com
Almagro: $702,100.
Retiro: $682,600.
San Telmo: $673,700.
Boedo: $673,200.
Barracas: $672,200.
Villa del Parque: $664,800.
ParquePatricios : $651,100.
San Cristobal: $639,100.
Flores: $636,400.
Santa Rita: $624,100.
La Boca: $621,600.
Velez Sarsfield: $606,500.
San Nicolas: $601,700.
Montserrat: $597,900.
Balvanera: $594,500.
Villa Luro: $587,900.
Constitucion: $561,800.
Floresta: $552,500.
Lugano: $481,900.
www.buysllba.com
Source:
Alquilar un departamento de 3 ambientes en CABA: sorpresas, aumentos y precios, barrio por barrio
Dos trazados se colaron entre los 5 más caros de la ciudad. ¿Cuáles son las razones? Quiénes buscan viviendas de ese tipo y qué tipos de acuerdos son más frecuentes
www.infobae.com
October 14, 2024
Two developments have made it into the top five most expensive in the city. What are the reasons? Who is looking for such homes and what types of deals are most common?
By Jose Luis Cieri
La Algodonera, an emblematic building in Chacarita that was refurbished a few years ago and combines housing with mixed uses. On the corner of Santos Dumont and Avenida Córdoba, in one of the most expensive neighborhoods to rent 2 bedrooms in CABA
Although the offer for renting apartments in the city of Buenos Aires maintains its upward curve, the values of three-room apartments remain high, with averages of $600,000 per month, which constitutes a challenge for the pockets of those looking for a place to live.
According to Zonaprop, the overall supply of apartments grew by 56% compared to September 2023. But since the end of December 2023, with the entry into force of DNU 70 and the repeal of the Rental Law passed in 2020, the supply has increased by 166 percent. There are currently about 15,000 properties available for lease, of which just over half are offered in dollars .
Núñez and Palermo are the most expensive neighborhoods in the city, with average prices for three-room units of $819,900 and $811,200 respectively (see list at the end of the article), although in Puerto Madero, the youngest neighborhood, the offer is completely dollarized and prices for three-room apartments start at $700.
The surprise is that among the five most expensive neighborhoods are also Chacarita and Villa Pueyrredón, with $766,100 and $755,900, surpassing in the first case Belgrano, where the average value is $765,300 per month.
Leandro Molina , country manager of QuintoAndar, which manages Zonaprop for Argentina and Peru, explained to Infobae that Chacarita and Villa Pueyrredón stand out among the most thriving neighborhoods, due to their strategic location and wide connection options. “Their proximity to highly sought-after neighborhoods and the limit of occupancy, such as Palermo, as well as other booming places such as Villa Crespo, Colegiales and Villa Urquiza, also increases their attractiveness,” he explained.
Time Out magazine ranked Chacarita among the 38 coolest neighborhoods in the world , highlighting its gastronomy, art, culture and community. In 2022, the area was also part of this prestigious list, occupying the 37th place.
Demand and dynamics
The demand for rentals in Buenos Aires is largely determined by citizens of Venezuelan nationality, the largest segment of interested parties. To a lesser extent, Colombians and Argentines from the interior of the country are also looking for properties, often professionals and students who share spaces to reduce costs.Patricio Bedetti , from Patricio Bedetti Servicios Inmobiliarios, pointed out that, in addition to these groups, “there are families and their pets that traditionally constituted the main target audience for these properties, although they now demand less due to changes in the market and new rental dynamics.”
For current contracts, a quarterly or four-monthly adjustment is being applied based on the Consumer Price Index (CPI) or the Rental Contract Index (ICL), as agreed between the landlord and the tenant.
“On the other hand, the new apartments that enter the market compete in a more competitive environment of prices and quality after the repeal of the Rental Law. Two-bedroom apartments are offered between $450,000 and $650,000, and the increase rates remain below inflation, encouraging the renegotiation of contracts,” Bedetti added.
This situation can be seen in neighborhoods such as Almagro, Caballito and Boedo, among others, but with lower prices than Palermo or Belgrano.
Areas and how long they take to rent
The most sought-after areas for renting 2-bedroom apartments are Palermo, Belgrano and Caballito. Palermo accounts for 16% of searches, while Belgrano and Caballito each receive 10%.
Palermo is the most popular neighborhood for renting 2-bedroom apartments in CABA
Molina explained that the preference for these neighborhoods is due to their location, accessibility to other parts of the city and their proximity to shopping centers, offices, universities and highways. The combination of services and connectivity, he explained, “is a significant attraction for those looking to establish themselves in a dynamic and well-connected urban environment.”
Renting a 2-bedroom apartment today can take up to 2 months due to high competition for units. The cheaper studio - and 1-bedroom options are rented more quickly, a trend that reflects the sales market, where the most affordable options move more quickly.
Waiting times have doubled or tripled compared to last year. “We estimate that this movement in the rental market will continue until at least the first half of 2025. If the economic situation improves and purchasing power rises, we could soon see an increase in demand. This would allow more people to improve their situation or become independent, but as long as supply remains, prices will remain controlled and rental times could be shortened,” said Bedetti.
Prices
Below are the average rental prices for two-room apartments in the city for units of an average of 73 square meters according to Zonaprop:Nuñez: $819,900.
Palermo: $811.20.
Chacarita: $766,100.
Belgrano: $765,300.
Villa Pueyrredón: $755,900.
Colegiales: $754,000.
Villa Devoto: $748,800.
Villa Urquiza: $743,300.
Chacabuco Park: $740,900.
Saavedra: $736,100.
Recoleta: $735,400.
Villa Ortúzar: $729,400.
Caballito: $706,000.
Villa Crespo: $702,900.
www.buysellba.com
Almagro: $702,100.
Retiro: $682,600.
San Telmo: $673,700.
Boedo: $673,200.
Barracas: $672,200.
Villa del Parque: $664,800.
ParquePatricios : $651,100.
San Cristobal: $639,100.
Flores: $636,400.
Santa Rita: $624,100.
La Boca: $621,600.
Velez Sarsfield: $606,500.
San Nicolas: $601,700.
Montserrat: $597,900.
Balvanera: $594,500.
Villa Luro: $587,900.
Constitucion: $561,800.
Floresta: $552,500.
Lugano: $481,900.
www.buysllba.com
