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Rents rose 28% in the suburbs in three months: How much do you have to pay for 2- and 3-bedroom apartments - Infobae
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Los alquileres subieron 28% en el conurbano en tres meses: cuánto hay que pagar por departamentos de dos y tres ambientes
Un informe privado reveló el aumento. Cuales son los cambios en los contratos, además de identificar las zonas más caras y las más económicas en los tres corredores del Gran Buenos Aires
www.infobae.com
April 16, 2024
What are the changes in the contracts, in addition to identifying the most expensive and the cheapest areas in the three corridors of Greater Buenos Aires
By José Luis Cieri
Apartment rental values in the GBA continue to increase, although the pace of increase slowed compared to three months ago
During the first quarter of the year, prices for renting an apartment in Greater Buenos Aires (GBA), coinciding with the current Government's DNU, rose by 28% in the different corridors.
In March, the prices of new rental contracts experienced a month-on-month variation, with increases that ranged between 2.5% and 4% on average.
In the northern suburbs they accumulate an increase of 249.8% and a year-on-year increase of 253.9% in the West-South of the GBA according to an analysis by Zonaprop.
A two-room apartment of 50 square meters in North GBA has a value of $372,792 per month, while a three-room apartment of 70 m2 is rented for $564,291 per month. While in the west-south GBA it is $267,105 per month for a two-room apartment, while a three-room apartment reaches $362,765 per month.
Source: Zonaprop
The supply of properties reached record levels with a current estimate of 19,000 properties available in the Metropolitan Area of Buenos Aires , AMBA. This marks an increase in options across all GBA districts, reversing the previous property shortage.
For example, the number of apartments available in Morón increased significantly, going from just 30 units in December to more than 200 currently priced in pesos.
The most expensive and the cheapest
Nordelta remains the neighborhood with the most expensive offer on the market in the northern GBA, with a value of $490,685 per month. They are followed by Vicente López, with a value of $482,956 and Rincón de Milberg with a value of $467,702 per month.On the other hand, José León Suárez, San Miguel, Pilar have the lowest prices, with $232,419 per month, $260,661 and $289,331 pesos per month, respectively.
In the West-South, the city of Avellaneda heads the list with the highest price in the market, with a value of $305,358 per month, followed by Ciudadela ($301,645) and Wilde ($296,734 per month).
Source: Zonaprop
On the contrary, the cheapest rentals are found in Burzaco ($175,783), Merlo ($200,659) and Moreno ($214,140 pesos per month).
Another dynamic
After the repeal of the Rental Law, a notable increase in the supply of properties was observed in the northern area of the GBA, particularly a 300% growth in houses and 100% in apartments during the first four months of 2024.Federico Vinelli , from Vinelli Inmobiliaria, highlighted to Infobae that "this increase in supply contributed to a decrease in rental prices in dollars of approximately 20% between Vicente López and Tigre."
When analyzing the conditions of the published advertisements, it is important to consider the current greater flexibility to publish and contract properties, without forgetting the regulation established by the Civil and Commercial Code of the Nation. This translates into a diversity of contractual conditions, reflecting the varied market offering.
“As for rental contracts, those agreed in dollars generally do not present adjustments, while those agreed in pesos tend to be adjusted quarterly according to the Consumer Price Index (CPI) at a general level in this part of the northern zone,” Vinelli added.
The average prices for renting studio apartments in central areas with good connections between Tigre and Vicente López are $300,000, two rooms at $400,000, and three rooms at $500,000 per month.
In the gated communities of the northern area, rents start at USD 1,500 per month
“Those with a garage add an additional $30,000 per month, not including expenses such as expenses, taxes and services. For houses, prices start from USD 900 per month for a four-bedroom property in Tigre, located in an open neighborhood, and in closed neighborhoods, prices start from approximately USD 1,500 per month,” Vinelli said.
South Zone
In the Lanús district, the offer shows notable growth with 160% year-on-year. This expansion encouraged some owners to adjust prices in pesos or to be more open to negotiations, in response to the reduced number of visits.
Source: Zonaprop
Leandro Gómez , of Leandro Gómez Propiedades, pointed out that “accessibility to rentals was significantly facilitated compared to previous months, thanks to the adaptation of the offer, which, in the medium term, could moderate price increases that would have been more pronounced under the old legislation. This situation has encouraged owners to return their properties to the rental market, rather than opting for sale or leaving them empty, thus improving the options available to tenants depending on the area.”
“Regarding the adjustment method and the term of the contracts, the most common in this period are two-year contracts with quarterly adjustments according to the CPI. This scheme reflects the market's attempt to align the expectations of owners and tenants with the economic reality of the country,” Gómez said.
In Lanús, a two-room apartment starts at $300,000, and can reach $450,000 in buildings with amenities. Those with three rooms amount to $600,000, while the average cost of renting a garage ranges between $30,000 and $40,000 per month. Gómez added: “the rent for three-room houses varies between $800,000 and $1,000,000 per month.”
West
The rental panorama in Merlo also registered an increase in supply that exceeds 160% since the DNU came into force, marking greater confidence among owners in the market.“Factor that represents a great opportunity for tenants, who now have more options to select their next home. We recommend that tenants inform themselves adequately about the average prices and conditions for renting in their areas of interest. Effective and transparent communication between tenants and owners is essential, and we strive to ensure that both parties can express their needs and expectations,” said Lorena Bertomeu, of Bertomeu Properties.
Source: Zonaprop
Regarding rental contracts, the most common terms are two years for housing and three for commercial premises, with a tendency towards quarterly or semiannual adjustments based on the Lease Contract Index (ICL) or CPI.
Bertomeu said: “Although these new adjustment schemes are in their initial stages of application, quarterly or semi-annual adjustments prevail. It is important to keep in mind that the consequences of these new schemes have not yet fully manifested themselves in the market since the first contracts under this model are just being updated. It is also relevant to mention that there are other adjustment methods that can be used, which may vary depending on the owner and the type of property.
The values in Merlo range between $200,000 and $220,000 for 1-bedroom apartments without a garage; and $250,000 if they include a garage; Those with 2-bedrooms are worth $280,000 to 300,000 for those with 2-bedrooms without a garage; and up to $380,000 with garage.
Two-bedroom houses with a garden and garage range between $450,000 and $500,000 per month.
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