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Rents rose more than inflation in 2023 - Fortuna
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Los alquileres subieron más que la inflación en 2023
Palermo es el barrio de la Ciudad de Buenos Aires más caro para alquilar en pesos, seguido de Belgrano y Núñez. Puerto Madero no está considerado por contar con valores en moneda extranjera
fortuna.perfil.com
March 04, 2024
Rentals Cedoc Profile
Fortuna Editorial
Rental prices rose 18.6% in December and an annual increase of 260% was recorded , 2.65 times more than in 2022. Although the final inflation data for 2023 would be released on January 11, this increase is much higher than the 220% projected by private consulting firms.
In that sense, Palermo is the most expensive neighborhood in the City of Buenos Aires to rent pesos, with a value of $491,737 . They are followed by Belgrano ($487,654 per month) and Núñez ($477,163 per month) . On the other hand, Liniers is the most affordable neighborhood for $273,253 per month, followed by Monte Castro and Floresta, $284,809 per month and $288,139 per month, respectively.
North Corridor, Northwest Corridor and Macrocentro are the areas with the highest rental prices, $474,377 per month, $419,140 per month and $358,652 per month, respectively. On the contrary, the West ($301,687 per month) and the Southeast ($308,272 per month) are the cheapest.
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Real estate profitability is at 5.75% annually
The rent/price ratio increases and stands at 5.75% annually in December, that is, 17.4 years of rental are needed to recover the purchase investment, 27% less than in 2022.Chacarita, Balvanera and San Cristóbal are the best neighborhoods for investors seeking income , with an average return of 6.7%, 6.5% and 6.5%, respectively. While Liners (4.7%), Monte Castro (5.0%) and Barracas (5.0%) are the ones that generate the least profitability.
Rental Law: What outlook do leaders in the real estate sector envision for 2024?
Buy-sell market: 5 consecutive years of falling prices
Although in the second half of the year it registered a change in trend with a 1.2% increase in the sales price, the average price accumulated a decline of 1.0% in 2023 . This variation was lower than that of 2022, when it was 6.6% and registered five consecutive years of decline. According to December data, the value is 22.3% below the maximum reached in 2019.The advertising prices published on the Zonaprop portal registered a monthly increase of 0.3% in December and the square meter stood at US$ 2,177.
A 40 m2 studio apartment has a price of US$ 95,538 for sale, while a two-bedroom and 50 m2 is worth US$ 114,798 and a 3-bedroom and 70 m2 is at US$ 159,288.
While in 2022, 83% of the city's neighborhoods registered a decrease in real estate prices, in 2023, 65% registered a monthly price increase. Since July, the percentage has grown and is above 50%.
Puerto Madero heads the ranking of the most expensive neighborhoods in the City of Buenos Aires with a value of US$ 5,697 per m2. They are followed by Palermo (US$ 3,019 per m2) and Belgrano (US$ 2,756 per m2). On the contrary, Lugano, Nueva Pompeya and La Boca are the most affordable neighborhoods with a price of US$979 per m2, US$1,382 per m2 and US$1,436 per m2, respectively.
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