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The rental crisis: How much do you pay for a 1-bedroom in CABA - Infobae
Source:
www.infobae.com
November 10, 2023
The sustained increase in prices continues, driven by inflation, demand that far exceeds supply, the shortage of properties in local currency and regulatory changes
By José Luis Cieri
A person hands over the key to an apartment after renting a home. There are Buenos Aires neighborhoods where 1-bedroom are not available and the values rose more than 200% in CABA (Illustrative image Infobae)
Month after month, the Buenos Aires real estate market shows a constant increase in rental prices for one-bedroom apartments. After the recent reform that came into effect on October 18, the numbers reveal a record increase, exceeding 206.7% compared to the same period of the previous year.
According to information collected by the Zonaprop platform, Palermo is positioned as the most expensive neighborhood for renting two-room, 50-square-meter apartments, with an average price of $350,735 per month. In stark contrast, Barracas is presented as the most affordable option, costing $176,576 per month.
One-bedroom apartments are the most in demand, far exceeding the supply currently available. It is estimated that in CABA there are less than 550 homes, and of them, less than 270 have a single bedroom.
Current problems, such as political uncertainty, regulations, inflation and the dollarization of contracts, especially in temporary agreements, were undermining the ground for housing proposals that are not abundant either in CABA or in the entire country.
Leandro Molina , country manager of Grupo QuintoAndar (owner of Zonaprop) for Argentina and Peru, told Infobae that in CABA, 1-bedroom apartments are the most requested, followed by 2-bedroom apartments. In addition, he pointed out that "compared to Greater Buenos Aires, in CABA there is a greater search for studio apartments, which currently have an average of $207,017 per month."
“There are several areas in Palermo, such as Hollywood, SoHo, among others, and the values vary depending on the location. In areas like Plaza Serrano, prices are higher compared to other areas of the city. Due to the youth dynamic of the area, those under 30 years of age show a particular interest in living there. In contrast, the Palermo Viejo area, with a focus on streets such as Niceto Vega, Godoy Cruz and Guatemala, is positioned as a more accessible option in terms of monthly prices,” said Jorge Toselli , from JT Inmobiliaria.
A 1-bedroom apartment for rent ready to move into. There are few options in CABA currently (Photo Courtesy: Maure Inmobiliaria)
In November, the largest increase in rental prices was observed in Villa Devoto, Liniers and Palermo, exceeding 240% compared to the same period of the previous year. This increase is significantly higher than the 119.5% recorded in the Lease Contracts Index (ICL) for the same month. It should be noted that the agreements with the Casa Propia coefficient, which have a semiannual periodicity, apply to new contracts signed from October 18 onwards.
Chacarita experienced an increase of 207.3% year-on-year, surprising in the real estate panorama. Toselli expanded: “It is an intermediate neighborhood, it is not among the most expensive or the cheapest. Its growing demand is attributed to its excellent transportation connectivity to various key points and avenues, such as Córdoba, Dorrego, Jorge Newbery and Forest, among others. Although it preserves an old layout, it is moving towards modernization, and its prices, although lower than those of Palermo or Caballito, are gaining popularity among those looking for 1-bedroom apartments.”
Also among the most expensive are the neighborhoods in the northern corridor such as Núñez, Belgrano and Villa Urquiza, which registered increases of 230% year-on-year.
In real estate agencies, it is argued that homes with affordable prices are rented in less than 24 hours, sometimes without the tenant having the opportunity to visit them beforehand.
“The rotation speed of rental ads increased significantly. Most of the notices on the portal remain published for less than 30 days, and even, on many occasions, just a week,” Molina said.
Palermo: $350,735.
Belgrano: $343,994.
Nuñez: $341,255.
Schoolchildren: $338,296.
Villa Urquiza: $332,206.
Saavedra: $321,656.
Withdrawal: $313,498.
Recoleta: $313,228.
Caballito: $292,104.
Villa Crespo: $298,652.
Chacarita: $288,237.
Villa Devoto: $285,059.
Almagro: $283,118.
Chacabuco Park: $280,171.
San Cristóbal: $257,099.
Villa del Parque: $255,639.
Villa Pueyrredón: $254,959.
Flowers: $254,468.
San Telmo: $250,071.
Boedo: $247,211.
Liniers: $243,004.
Balvanera: $242,495.
Monserrat: $233,091.
Villa Gral Miter: $232,914.
San Nicolás: $231,413.
Constitution: $219,310.
Floresta: $218,736.
Barracas: $176,576.
www.buysellba.com
Source:
La crisis de los alquileres: barrio por barrio, cuánto se paga por un 2 ambientes en CABA y los dónde hay disponibilidad de unidades
Continúa el aumento sostenido de los precios, impulsado por la inflación, una demanda que supera ampliamente la oferta, la escasez de propiedades en moneda local y los cambios regulatorios
www.infobae.com
November 10, 2023
The rental crisis: Neighborhood by neighborhood, how much do you pay for a 1-bedroom in CABA and where units are available
The sustained increase in prices continues, driven by inflation, demand that far exceeds supply, the shortage of properties in local currency and regulatory changes
By José Luis Cieri
A person hands over the key to an apartment after renting a home. There are Buenos Aires neighborhoods where 1-bedroom are not available and the values rose more than 200% in CABA (Illustrative image Infobae)
Month after month, the Buenos Aires real estate market shows a constant increase in rental prices for one-bedroom apartments. After the recent reform that came into effect on October 18, the numbers reveal a record increase, exceeding 206.7% compared to the same period of the previous year.
According to information collected by the Zonaprop platform, Palermo is positioned as the most expensive neighborhood for renting two-room, 50-square-meter apartments, with an average price of $350,735 per month. In stark contrast, Barracas is presented as the most affordable option, costing $176,576 per month.
One-bedroom apartments are the most in demand, far exceeding the supply currently available. It is estimated that in CABA there are less than 550 homes, and of them, less than 270 have a single bedroom.
The owners' rejection of the current law and its recent reform is palpable. This situation complicates things for tenants who are searching for a home or who must renew their contract, creating a challenging scenario in the real estate market.
Current problems, such as political uncertainty, regulations, inflation and the dollarization of contracts, especially in temporary agreements, were undermining the ground for housing proposals that are not abundant either in CABA or in the entire country.
Leandro Molina , country manager of Grupo QuintoAndar (owner of Zonaprop) for Argentina and Peru, told Infobae that in CABA, 1-bedroom apartments are the most requested, followed by 2-bedroom apartments. In addition, he pointed out that "compared to Greater Buenos Aires, in CABA there is a greater search for studio apartments, which currently have an average of $207,017 per month."
The most expensive
Palermo is a multifaceted neighborhood and highly sought after by young people, university students and professionals.“There are several areas in Palermo, such as Hollywood, SoHo, among others, and the values vary depending on the location. In areas like Plaza Serrano, prices are higher compared to other areas of the city. Due to the youth dynamic of the area, those under 30 years of age show a particular interest in living there. In contrast, the Palermo Viejo area, with a focus on streets such as Niceto Vega, Godoy Cruz and Guatemala, is positioned as a more accessible option in terms of monthly prices,” said Jorge Toselli , from JT Inmobiliaria.
A 1-bedroom apartment for rent ready to move into. There are few options in CABA currently (Photo Courtesy: Maure Inmobiliaria)
In November, the largest increase in rental prices was observed in Villa Devoto, Liniers and Palermo, exceeding 240% compared to the same period of the previous year. This increase is significantly higher than the 119.5% recorded in the Lease Contracts Index (ICL) for the same month. It should be noted that the agreements with the Casa Propia coefficient, which have a semiannual periodicity, apply to new contracts signed from October 18 onwards.
Chacarita experienced an increase of 207.3% year-on-year, surprising in the real estate panorama. Toselli expanded: “It is an intermediate neighborhood, it is not among the most expensive or the cheapest. Its growing demand is attributed to its excellent transportation connectivity to various key points and avenues, such as Córdoba, Dorrego, Jorge Newbery and Forest, among others. Although it preserves an old layout, it is moving towards modernization, and its prices, although lower than those of Palermo or Caballito, are gaining popularity among those looking for 1-bedroom apartments.”
Also among the most expensive are the neighborhoods in the northern corridor such as Núñez, Belgrano and Villa Urquiza, which registered increases of 230% year-on-year.
Where there is not and how long a publication lasts
Two-room apartments for rent in pesos are not found in Agronomía, Villa Santa Rita, Vélez Sarsfield, Monte Castro, Paternal, Barracas, Mataderos, among others.In real estate agencies, it is argued that homes with affordable prices are rented in less than 24 hours, sometimes without the tenant having the opportunity to visit them beforehand.
“The rotation speed of rental ads increased significantly. Most of the notices on the portal remain published for less than 30 days, and even, on many occasions, just a week,” Molina said.
Prices
Below are the monthly rental values for 1-bedroom properties in pesos in CABA, according to Zonaprop, in the neighborhoods where there is availability:Palermo: $350,735.
Belgrano: $343,994.
Nuñez: $341,255.
Schoolchildren: $338,296.
Villa Urquiza: $332,206.
Saavedra: $321,656.
Withdrawal: $313,498.
Recoleta: $313,228.
Caballito: $292,104.
Villa Crespo: $298,652.
Chacarita: $288,237.
Villa Devoto: $285,059.
Almagro: $283,118.
Chacabuco Park: $280,171.
San Cristóbal: $257,099.
Villa del Parque: $255,639.
Villa Pueyrredón: $254,959.
Flowers: $254,468.
San Telmo: $250,071.
Boedo: $247,211.
Liniers: $243,004.
Balvanera: $242,495.
Monserrat: $233,091.
Villa Gral Miter: $232,914.
San Nicolás: $231,413.
Constitution: $219,310.
Floresta: $218,736.
Barracas: $176,576.
www.buysellba.com
