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The Rental Law died: what is happening with prices in the GBA - El Cronista
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Murió la Ley de Alquileres: qué está pasando con los precios en el GBA
Los precios de los alquileres de casas y departamentos en las zonas Norte y Sur del GBA reaccionaron en febrero a la nueva realidad del mercado tras la derogación de la Ley de Alquileres. Los datos barrio por barrio
www.cronista.com
March 11, 2024
Rental prices for houses and apartments in the North and South areas of the GBA reacted in February to the new market reality after the repeal of the Rental Law. Neighborhood-by-neighborhood data
The Rental Law died: what is happening with prices in the GBA
The repeal of the Rental Law began to be felt in the real estate market. Rental prices began to slow their rise and, for the first time, the increases are below inflation. In the Northern Zone , increases in February registered an increase of 8.3% , half of what had risen in December and January.
This is clear from Zonaprop 's monthly report . "In the North Zone, the rental price increased by 8.3% , a significantly lower percentage than in January (15.9%) and December (16.8%) ," the report highlighted.
A two-room apartment in northern GBA has a value of $ 363,590 per month , while a three-room apartment is rented for $569,331 , with the largest apartments showing the greatest increase.
As happened with Zona Norte, GBA west-south also presented a slowdown in rental prices. The monthly increase in February was 8.5% after registering increases of between 13% and 15 percent in the last six months .
The rental price in the West-South Zone is $256,858 per month for a two-room apartment, while a three-room apartment reaches $353,510, well below the average for the northern zone of Buenos Aires.
Neighborhood by neighborhood prices
Nordelta is the neighborhood with the most expensive offer on the market, with a value of $528,554 per month, similar to what is paid for a two-bedroom in Palermo. He is followed by Vicente López , with a price of $522,285 per month, and Manuel Alberti ($502,847 per month).On the other hand, at the other extreme, San Miguel and Muñiz have the lowest prices, $261,346 per month and $269,988 , respectively.
While in the west-south, Wilde leads the ranking with the most expensive offer, with a price of $296,182 per month. Castelar ($293,765) and Bernal ($293,031) follow.
On the contrary, the cheapest rentals are found in Burzaco ($175,040 per month), Moreno ($197,455) and Villa Luzuriaga ($210,758).
What happens with property sales?
As rental prices slow down, property values for sale begin to recover. And the real estate claims that prices reached their floor in December 2023.Data from Zonaprop showed that in GBA North, the average price of apartments maintained its constant increase and rose 0.4% in February.
Buy-sell prices begin a recovery process
The square meter is thus located at US$2,178 . In the first two months of 2024, the average price accumulates an increase of 0.6%, slightly lower than that of CABA (0.7%).
A two-room apartment with 50 m2 in North GBA reaches a value of US$107,781 while a three-room apartment with 70 m2 is at US$161,724. Meanwhile, the well departments are the ones with the greatest increase during February.
The neighborhoods of La Lucila (US$3,317 per m2), Vicente López (US$3,279 per m2) and Olivos (US$2,880 per m2) top the list of the most expensive neighborhoods.
While José C. Paz Oeste (US$894), José C. Paz Centro (US$936) and Barrio Infico (US$972) are the cheapest.
With respect to the west-south GBA, the average price for apartments does not register significant changes, but has remained stable since November 2023. The square meter costs US$1,596 per square meter.
An average two-room, 50 m2 apartment costs US$79,490, while a three-room, 70 m2 apartment costs US$116,132.
Malvinas Argentinas has the highest value on the market, with US$2,840 per m2, followed by Tristán Suárez with a value of US$2,591 per m2 and Don Bosco (US$2,460).
On the contrary, the neighborhoods of San José (US$544) , Don Orione (US$623) and Dock Sud (US$703) are the lowest priced.
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