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The five cheapest and most expensive neighborhoods to rent a used two-room apartment - La Nacion Propiedades
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Los cinco barrios más baratos y más caros para alquilar un departamento de dos ambientes usado
El precio en el mercado de los alquileres usados continúa en alza, pero a un ritmo por debajo de la inflación; cuánto cuesta un usado
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June 18, 2024
The price in the used rental market continues to rise, but at a rate below inflation; how much does a used one cost
By Candela Contreras
Rentals: how much does a used two-room apartment cost
In the midst of a real estate market with constant changes , the pace at which rents had been increasing was crossed by a notable slowdown for the fourth consecutive month, after the repeal of the rental law on December 29, 2023, when it came into effect. Javier Milei's Decree of Necessity and Urgency (DNU) is in force , and in which three contract models coexist at the same time (those of the first Law, those of the October 2023 modification and those that are by free agreement between the parties under the Civil and Commercial Code by the DNU). And, although the year-on-year figures are still high, they are already below the general inflation accumulated in April (the last one analyzed), which was 321.6% (while the year-on-year rate was 289.4%).
In this sense, the used apartments that were offered for rent in the same period showed an increase of 285.68%, on average in the case of one-bedroom units, and 292.76 % for 2-bedroom units , according to the latest survey carried out by Real Estate Report .
In concrete numbers, the average value in the city of Buenos Aires for two-room apartments used in May was $367,442 , while three-room units were quoted above $487,500 .
This real drop in values comes hand in hand with a strong increase in the supply of rental units for housing, which was 166% since December, according to data provided by the city's Real Estate College. “ The deregulation of rents allowed the sector to regain vitality ,” says Diego Frangella, president of the entity. The owners are beginning to see the consequences of the repeal of the regulations and the anxiety to occupy their homes becomes latent : properties that were previously reserved in a few days to the highest bidder and, sometimes, even without seeing them, can now spend weeks published in the same place and are shown at any time of the day, regardless of the time, as long as you rent it.
The rent for a used two-bedroom in May was $367,442
Along these lines, Enrique Abatti, president of the Chamber of Owners of the Argentine Republic , explains that the repeal of the regulations allowed greater contractual freedom between the parties involved. Although the law , when it was passed, was intended to protect tenants, in reality , it generated a shortage of supply and inflated prices . Now, with a greater supply and fewer requirements from owners, tenants have the ability to negotiate more favorable prices .
The 5 most expensive neighborhoods to rent a used two-bedroom
- Las Cañitas: $505,000
- Recoleta: $498,635
- Palermo: $483,180
- Belgrano C: $480,000
- North District: $476,250
The 5 cheapest neighborhoods to rent a used two-bedroom
- Forest: $290,000
- Constitution: $266,000
- New Pompeii: $295,835
- Avellaneda Park: $296,665
- Almagro: $297,145
Rents continue to increase but below inflation data
The main differences between renting a used apartment and a brand new one
Although there is no single answer to this question, since it will depend on the needs and budget that each person has, in this case the disadvantage is usually that brand new units tend to have higher values than a used one. This is because brand new ones not only tend to be more modern, but they also tend to have less maintenance and short-term repair needs.
On the other hand, older apartments generally have a lower value . However, they may require greater care and require possible repairs due to wear and aging of the materials.
One of the key recommendations that specialists in the real estate market provide when deciding to rent a used property is: verify the correct operation and flow of all services , both water and gas pressure, the condition of the furniture , among others.
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