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Renting in the suburbs: You can no longer find two-room apartments for less than $200,000 - Infobae
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Alquilar en el conurbano: ya no se consiguen departamentos de dos ambientes por menos de $200.000
Un informe privado detectó cuáles son los puntos más cotizados y más baratos del conurbano. Cuadro de situación en compra-venta y el impacto de los créditos hipotecarios en las inmobiliarias
www.infobae.com
August 17, 2024
A private report has identified the most sought-after and cheapest spots in Greater Buenos Aires. Situational table for buying and selling and the impact of mortgage loans on real estate agencies
By Jose Luis Cieri
The average price of a two-room apartment in the west-south GBA registered an increase of 4.7% in July and is now at $313,839 per month.
According to a private report, the largest increase in apartment rental prices so far this year was recorded in the west and south of Greater Buenos Aires (GBA). That area of the suburbs has accumulated the largest increase in rental prices with 50.8% while in the north of GBA the increase is 47.6% during 2024. In addition, the report makes it clear that two-room apartments are no longer available for less than $200,000 per month.
Since the Rental Law was repealed at the end of last year, the supply of units in GBA has been increasing, although to a lesser extent than in the City of Buenos Aires, where the supply expanded by 195% since the government's DNU came into force. In the suburbs, on the other hand, the supply rose by 60% and it is difficult to find houses located in central areas.
With a more dynamic market, prices, which had been growing strongly since 2021, began to moderate and increases lagged behind accumulated inflation when measured year-on-year.
According to Zonaprop's analysis, the average price of a two-room apartment in the western-southern GBA registered an increase of 4.7% in July and is now at $313,839 per month.
The average accumulated value in 2024 (50.8%) is 12 percentage points above the increase in CABA (38.8%) and almost 4 percentage points above that of GBA North (47.6%).
Source: Zonaprop
Ezeiza leads the ranking of the most expensive neighborhoods in GBA, with an average price of $416,069 per month. It is followed by Canning ($406,827) and Sáenz Peña ($370,214 per month). On the other hand, Florencia Varela, La Tablada and Burzaco are the cheapest to rent. With average prices of $218,703, $223,294 and $242,738 per month, respectively.
In GBA North, the average price rose by 3.9% in July and accumulated an increase of 47.6% in 2024. A two-room apartment is located at $427,692, while a three-room apartment is located at $638,474 per month.
Source: Zonaprop
Nordelta is positioned as the northern area neighborhood with the highest prices, with an average price of $522,828; Olivos and Florida complete the podium, with average prices of $516,472 and $507,295 per month, respectively. On the other hand, Los Polvorines ($292,705), José León Suárez ($302,700) and San Andrés ($321,299) are the most affordable neighborhoods.
In the south
The rental offer in Lanús and Ezeiza showed fluctuating behavior. Currently, availability is scarce, since the alternatives of contracts that are ending are renewed at much higher prices due to the updates.“What comes onto the market is rented quickly, but there is still a shortage of units because several tenants prefer to renew and negotiate under the new regulations. Even so, the offer has expanded significantly since the DNU came into force. Growth is estimated to be between 40% and 60%, driven by a new perspective of the owners, who see their investment as more profitable and can recover their property in 24 months, the duration of the contract,” Leandro Gómez , from Leandro Gómez Propiedades, told Infobae.
The contracts that are being made under the new regulation are usually adjusted every four months based on the Consumer Price Index (CPI). Rents for two-room apartments in Lanús and Ezeiza are around $220,000, while three-room apartments vary depending on the area and the quality of construction.
The areas with the highest rental growth at the moment are Lanús and Canning Centro. According to Gómez, these areas saw an increase in demand due to their strategic location and the quality of life they offer.
Source: Zonaprop
As for the purchase and sale prices, there are significant variations. In Lanús, a two-room apartment can cost between USD 70,000 and USD 120,000, while a three-room apartment varies between USD 180,000 and USD 230,000. “In the Canning area, prices are higher; a two-room apartment can cost between USD 90,000 and USD 150,000, and a three-room apartment between USD 250,000 and USD 350,000,” said Gómez.
Mortgage loans have not yet fully taken off. The GBA real estate market agrees that people have the intention and enquiries have increased by 40% since they were relaunched, but the pace of decision-making is slower than in CABA.
In the north zone
According to Federico Vinelli , from Vinelli Inmobiliaria, the demand in Tigre and Vicente López showed particular patterns.In general, houses are more in demand than apartments. In Tigre, rents for two-room apartments were around $550,000 and for three-room apartments $700,000 per month on average.
Houses are more in demand than apartments in the northern suburbs
In terms of the most sought-after areas, Vinelli highlighted that in Tigre the areas with the greatest growth are the center, the residential part, the so-called Isla de Tigre and areas close to San Fernando. The Panamericana area is also of considerable interest. In Vicente López, the Avenida del Libertador area continues to be the most sought-after and one of the most sought-after in the northern suburbs.
In terms of buying and selling, in Tigre, the average prices for two- and three-room apartments are USD 110,000 and USD 130,000, respectively. In Vicente López, the average prices for two-room apartments are approximately USD 150,000 and USD 190,000 for three-room apartments.
Source: Zonaprop
“Mortgage loans generated a large number of enquiries and transactions are beginning to take place in credit-appropriate homes,” Vinelli concluded.
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