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The Rental Law is dead: this is the new type of contract that real estate agencies use the most - El Cronista
Source:
September 18, 2024
A report revealed which was the most used format by owners and tenants in August 2024.
Following the repeal of the Rental Law , the number of available rentals in the City of Buenos Aires grew by 178% . However, in the last two months, property owners have opted to focus on the sale of these properties.
This is a response to the growth of mortgage loans and money laundering , which favoured purchase and sale operations in the real estate market over leasing.
In this context, the value of rents increased by an average of 5.3% in August, according to the observatory of the Real Estate College of the City of Buenos Aires (Cucicba) . What happened to the type of contract ?
According to the latest survey carried out on the Zonaprop platform , more than half of the rental advertisements in the City of Buenos Aires are published in dollars : 51% are in foreign currency, compared to 49% in pesos.
" 88% of the neighborhoods have seen a drop in average rental prices in dollars. San Telmo has seen a 20% drop in prices year-on-year and Puerto Madero is the neighborhood that has maintained a relatively stable average price ," the report details.
They also indicated that the period from January to February was the time when the most dollar-denominated apartments were published, maintaining an upward trend until June.
How much do rents cost in CABA?
According to Zonaprop data , a 40 m2 studio apartment is rented for $407,026 per month in the City of Buenos Aires. While a 50 m2 two-room apartment has an average value of $485,881 per month.
The neighborhoods with the most offers at the moment are Palermo, Belgrano, Caballito, Recoleta, Barrio Norte and Puerto Madero , which together account for 61% of the total offers published on the main portals.
www.buysellba.com
Source:
September 18, 2024
A report revealed which was the most used format by owners and tenants in August 2024.
Following the repeal of the Rental Law , the number of available rentals in the City of Buenos Aires grew by 178% . However, in the last two months, property owners have opted to focus on the sale of these properties.
This is a response to the growth of mortgage loans and money laundering , which favoured purchase and sale operations in the real estate market over leasing.
In this context, the value of rents increased by an average of 5.3% in August, according to the observatory of the Real Estate College of the City of Buenos Aires (Cucicba) . What happened to the type of contract ?
Rentals: the most used type of contract in 2024
The repeal of the regulations, in addition to leaving the update formula and duration of the contracts to a free choice , also makes available the possibility of signing it in a currency other than the peso.According to the latest survey carried out on the Zonaprop platform , more than half of the rental advertisements in the City of Buenos Aires are published in dollars : 51% are in foreign currency, compared to 49% in pesos.
" 88% of the neighborhoods have seen a drop in average rental prices in dollars. San Telmo has seen a 20% drop in prices year-on-year and Puerto Madero is the neighborhood that has maintained a relatively stable average price ," the report details.
They also indicated that the period from January to February was the time when the most dollar-denominated apartments were published, maintaining an upward trend until June.
How much do rents cost in CABA?
According to Zonaprop data , a 40 m2 studio apartment is rented for $407,026 per month in the City of Buenos Aires. While a 50 m2 two-room apartment has an average value of $485,881 per month.The neighborhoods with the most offers at the moment are Palermo, Belgrano, Caballito, Recoleta, Barrio Norte and Puerto Madero , which together account for 61% of the total offers published on the main portals.
www.buysellba.com
