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Rents in Greater Buenos Aires increased above inflation: the increase was 186% in the year - Ambito
Source:
www.ambito.com
November 11, 2024
According to INDEC, the accumulated inflation in 2024 was 104.7%. One-bedroom apartments are the ones that increased the most
Rents. 62% of renter households reported incomes below the poverty line. Depositphotos
Rents are increasing and tenants are struggling to meet their payments. According to a recent survey, since the DNU that ended the rental law came into effect, prices have risen sharply above inflation .
The data came from a report prepared by Inquilinos Agrupados, based on data from INDEC, where they observed that in Greater Buenos Aires the accumulated inflation in 2024 was 104.7% while rents increased by 186.2% . One-beroom properties are the ones that increased the most, followed by three-room properties.
The figures for increases in used apartments in the main towns of Greater Buenos Aires are in line with what has been shown in the City of Buenos Aires, where one-bedroom apartments exceeded 184.5% increase in the last 12 months and two-bedroom apartments 174.2%.
Rents in GBA increased 186% in one year.
Depositphotos
The situation of tenants is complicated and increasingly precarious. 62% of tenant households declared incomes below the poverty line . In addition, almost 40% spend more than half of their income on paying rent (six percentage points more than last year), 60% are behind on paying basic household services and the number of households that went into debt to be able to pay rent has increased . These data correspond to the tenant survey carried out by Acij, Cels, Conicet, Ceur, Idaes-Unsam, the Romualdo Ardissone Institute of Geography (UBA) and Contested Territories.
The total cost of services has increased by 374% since last December, mainly due to the updates to transportation, electricity, water and gas rates, which have had a direct impact on the pockets of Argentines.
Those who set their rental agreement in 2024 mostly agreed to formal or informal arrangements for two years (37%), while 41% of those who signed before 2024 still have three-year contracts.
The survey also highlights that the expectations of renters have worsened, as the proportion of households that believe they will have to terminate their contract early or will not be able to renew it has increased (33%). 42% expect the rental market situation to worsen and 22% expect it to remain “just as bad”.
In addition, the percentage of people who believe that their next home will be similar or worse than their current one is increasing, while the percentage of those who expect it to be better is decreasing. Finally, the majority (43%) believe that in 5 years they will continue to rent or even do not know if they will have a place to live (24%).
www.buysellba.com
Source:
Alquileres en Gran Buenos Aires aumentaron por encima de la inflación: la suba fue del 186% en el año
Según el INDEC, la inflación acumulada en el 2024 fue de 104,7%. Los departamentos de dos ambientes son los que más aumentaron
www.ambito.com
November 11, 2024
According to INDEC, the accumulated inflation in 2024 was 104.7%. One-bedroom apartments are the ones that increased the most
Rents. 62% of renter households reported incomes below the poverty line. Depositphotos
Rents are increasing and tenants are struggling to meet their payments. According to a recent survey, since the DNU that ended the rental law came into effect, prices have risen sharply above inflation .
The data came from a report prepared by Inquilinos Agrupados, based on data from INDEC, where they observed that in Greater Buenos Aires the accumulated inflation in 2024 was 104.7% while rents increased by 186.2% . One-beroom properties are the ones that increased the most, followed by three-room properties.
A two-bedroom apartment in GBA costs on average $600,000
The average rental price for standard used apartments without amenities is $601,300 for two-bedroom units, while one-bedroom apartments averaged $435,500 at the end of September.The figures for increases in used apartments in the main towns of Greater Buenos Aires are in line with what has been shown in the City of Buenos Aires, where one-bedroom apartments exceeded 184.5% increase in the last 12 months and two-bedroom apartments 174.2%.
Rents in GBA increased 186% in one year.
Depositphotos
The situation of tenants is complicated and increasingly precarious. 62% of tenant households declared incomes below the poverty line . In addition, almost 40% spend more than half of their income on paying rent (six percentage points more than last year), 60% are behind on paying basic household services and the number of households that went into debt to be able to pay rent has increased . These data correspond to the tenant survey carried out by Acij, Cels, Conicet, Ceur, Idaes-Unsam, the Romualdo Ardissone Institute of Geography (UBA) and Contested Territories.
The total cost of services has increased by 374% since last December, mainly due to the updates to transportation, electricity, water and gas rates, which have had a direct impact on the pockets of Argentines.
Overcrowding, a problem that is getting worse
One in three renter households (36%) lives in overcrowded conditions . Among those below the poverty line, this is the case in one in two (55%). Most dwellings are one (27%) and two bedrooms (42%), while renter households tend to be two (22%) or two people (25%).Those who set their rental agreement in 2024 mostly agreed to formal or informal arrangements for two years (37%), while 41% of those who signed before 2024 still have three-year contracts.
The survey also highlights that the expectations of renters have worsened, as the proportion of households that believe they will have to terminate their contract early or will not be able to renew it has increased (33%). 42% expect the rental market situation to worsen and 22% expect it to remain “just as bad”.
In addition, the percentage of people who believe that their next home will be similar or worse than their current one is increasing, while the percentage of those who expect it to be better is decreasing. Finally, the majority (43%) believe that in 5 years they will continue to rent or even do not know if they will have a place to live (24%).
www.buysellba.com
