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There are almost no one-bedroom apartments for rent for less than $300,000 in CABA: all prices, neighborhood by neighborhood - Infobae
Source:
www.infobae.com
September 13, 2024
Although the offer is still active, in most of the Buenos Aires routes the costs become increasingly difficult for tenants to bear.
By Jose Luis Cieri
A couple walks through a one-bedroom apartment with the intention of renting it (Illustrative Image Infobae)
While the supply of apartments for rent in the city of Buenos Aires has changed dramatically since the repeal of the Rental Law, access to housing remains expensive for tenants looking for a two-room apartment. Currently, it is difficult to find one-bedroom units for less than $300,000 per month, and the few that range between $250,000 and that figure are usually small in size, generally less than 32 square meters.
Of the 15,000 homes currently on offer for rent, more than 5,500 correspond to one-bedroom units in CABA. According to Zonaprop, since the DNU the offer remains three times above the minimum recorded in February 2023. Since the beginning of 2024, the volume of rental apartment offers has grown by 172%, while demand has increased by 22%, there are now homes even in Mataderos or San Cristóbal, when at the end of the year there were no properties for rent in pesos.
Leandro Molina , country manager of Grupo QuintoAndar (owner of Zonaprop) for Argentina and Peru, told Infobae that “according to our database, apartments represent 60% of searches in CABA. In any case, although the offer has not yet confirmed the demand, we see a positive balance compared to August 2023.”
In addition to single people, professionals, older adults who are limited in space or couples without children, university students are usually the main tenants who request one-bedroom rentals.
“Some people opt for direct agreements between owners and tenants. In many cases, friends or people who meet through social networks share the maintenance costs of a one-bedroom apartment and choose to rent in strategic areas such as Palermo, Belgrano, Recoleta, San Telmo or downtown. This choice is based on proximity to universities and subway stations, thus facilitating access to their places of study,” explained Mariana Lucángeli , architect and Real Estate expert.
The year-on-year figures are still high, but are now below the overall inflation rate, indicating a change in the price trend in the real estate market.
One of the reasons for this slowdown is that part of the demand rejects high prices because salaries have not yet fully recovered, facing an inflationary lag of more than 18 months. An apartment now takes up to 45 days to rent .
There is currently more negotiation between owners and tenants to establish a meeting point on contract prices at the beginning of the agreement (Illustrative Image Infobae)
Lucángeli added: “The initial rental values should not be so high, since it is now possible to make updates in shorter periods, which are mostly quarterly or four-monthly through the Consumer Price Index (CPI) or the Rental Contracts Index (ICL).”
On real estate portals such as Cabaprop, Zonaprop and Argenprop, apartments can already be seen with advertisements indicating “their price has been lowered.”
For example, the value of a 32 m2 two-room apartment on Tucumán 400, in the San Nicolás neighborhood, was reduced from $330,000 to $290,000 per month. Another, on Muñiz 800, in Boedo, dropped from $300,000 to $270,000; likewise, on Juramento 4000, in Villa Urquiza, a 32 m2 one-bedroom apartment dropped from $320,000 to $280,000 at the start of the two-year contract.
Molina pointed out that Palermo is the neighborhood with the highest demand in CABA, representing 14% of searches. Belgrano follows with 9% and Recoleta with 6%. In July 2023, apartments made up 98% of searches, but in 2024 this percentage dropped to 60%, while houses took on a greater role, accounting for 23% of searches in CABA.
“Two-room apartments are the most sought after, representing 45% of the demand. They are followed by two-bedroom apartments (26%), studio apartments (19%) and, finally, units with four or more rooms (11%). This shows that people are looking to reduce the size of their homes, since in 2023 the highest percentage of demand was for three-room properties, followed by two-room apartments and, finally, four-room units,” explained Molina.
Another situation that is occurring in the new rental dynamic is that owners are willing to compromise on the initial value of the contract.
Lucangeli said that “this is because they can now negotiate contractual conditions according to their interests, without being subject to the guidelines of the previous law, such as the term of the contract and the adjustment method.”
In August, the INDEC Consumer Price Index had an overall increase of 4.2% compared to July. While in the housing, water, electricity and other fuels sectors the increase was 7%, rental values increased by 8.73% in the same period.
The CBTI produced the following figures:
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Source:
Casi no hay departamentos de dos ambientes en alquiler por menos de $300.000 en CABA: todos los precios, barrio por barrio
Aunque la oferta sigue activa, en la mayoría de los trazados porteños los costos se vuelven cada vez más difíciles de afrontar para los inquilinos
www.infobae.com
September 13, 2024
Although the offer is still active, in most of the Buenos Aires routes the costs become increasingly difficult for tenants to bear.
By Jose Luis Cieri
A couple walks through a one-bedroom apartment with the intention of renting it (Illustrative Image Infobae)
While the supply of apartments for rent in the city of Buenos Aires has changed dramatically since the repeal of the Rental Law, access to housing remains expensive for tenants looking for a two-room apartment. Currently, it is difficult to find one-bedroom units for less than $300,000 per month, and the few that range between $250,000 and that figure are usually small in size, generally less than 32 square meters.
Of the 15,000 homes currently on offer for rent, more than 5,500 correspond to one-bedroom units in CABA. According to Zonaprop, since the DNU the offer remains three times above the minimum recorded in February 2023. Since the beginning of 2024, the volume of rental apartment offers has grown by 172%, while demand has increased by 22%, there are now homes even in Mataderos or San Cristóbal, when at the end of the year there were no properties for rent in pesos.
Leandro Molina , country manager of Grupo QuintoAndar (owner of Zonaprop) for Argentina and Peru, told Infobae that “according to our database, apartments represent 60% of searches in CABA. In any case, although the offer has not yet confirmed the demand, we see a positive balance compared to August 2023.”
In addition to single people, professionals, older adults who are limited in space or couples without children, university students are usually the main tenants who request one-bedroom rentals.
“Some people opt for direct agreements between owners and tenants. In many cases, friends or people who meet through social networks share the maintenance costs of a one-bedroom apartment and choose to rent in strategic areas such as Palermo, Belgrano, Recoleta, San Telmo or downtown. This choice is based on proximity to universities and subway stations, thus facilitating access to their places of study,” explained Mariana Lucángeli , architect and Real Estate expert.
The year-on-year figures are still high, but are now below the overall inflation rate, indicating a change in the price trend in the real estate market.
One of the reasons for this slowdown is that part of the demand rejects high prices because salaries have not yet fully recovered, facing an inflationary lag of more than 18 months. An apartment now takes up to 45 days to rent .
There is currently more negotiation between owners and tenants to establish a meeting point on contract prices at the beginning of the agreement (Illustrative Image Infobae)
Lucángeli added: “The initial rental values should not be so high, since it is now possible to make updates in shorter periods, which are mostly quarterly or four-monthly through the Consumer Price Index (CPI) or the Rental Contracts Index (ICL).”
On real estate portals such as Cabaprop, Zonaprop and Argenprop, apartments can already be seen with advertisements indicating “their price has been lowered.”
For example, the value of a 32 m2 two-room apartment on Tucumán 400, in the San Nicolás neighborhood, was reduced from $330,000 to $290,000 per month. Another, on Muñiz 800, in Boedo, dropped from $300,000 to $270,000; likewise, on Juramento 4000, in Villa Urquiza, a 32 m2 one-bedroom apartment dropped from $320,000 to $280,000 at the start of the two-year contract.
Preferences
Those looking for a two-room apartment prefer one with a balcony or terrace. They also value the location, the type of property and the inclusion of a bar in the kitchen.Molina pointed out that Palermo is the neighborhood with the highest demand in CABA, representing 14% of searches. Belgrano follows with 9% and Recoleta with 6%. In July 2023, apartments made up 98% of searches, but in 2024 this percentage dropped to 60%, while houses took on a greater role, accounting for 23% of searches in CABA.
“Two-room apartments are the most sought after, representing 45% of the demand. They are followed by two-bedroom apartments (26%), studio apartments (19%) and, finally, units with four or more rooms (11%). This shows that people are looking to reduce the size of their homes, since in 2023 the highest percentage of demand was for three-room properties, followed by two-room apartments and, finally, four-room units,” explained Molina.
Another situation that is occurring in the new rental dynamic is that owners are willing to compromise on the initial value of the contract.
Lucangeli said that “this is because they can now negotiate contractual conditions according to their interests, without being subject to the guidelines of the previous law, such as the term of the contract and the adjustment method.”
Worry
Inquilinos Agrupados reported that they are surveying the values of what they call the Total Basic Tenant Basket (CBTI).In August, the INDEC Consumer Price Index had an overall increase of 4.2% compared to July. While in the housing, water, electricity and other fuels sectors the increase was 7%, rental values increased by 8.73% in the same period.
The CBTI produced the following figures:
- Average rent for a 1- or 2-bedroom apartment: $450,316.
- Expenses: $102,458.
- Total Basic Basket for Tenants: $1,161,114.
Values by neighborhood
Below are the average rental prices for one-bedroom apartments in CABA for 50 m2 apartments, according to Zonaprop:- Puerto Madero: $1,019,112.
- Palermo: $546,806.
- Nuñez: $537,217.
- Belgrano: $530,042.
- Chacarita: $520,274.
- Saavedra: $519,016.
- Recoleta: $515,949.
- Colegiales: $515,877.
- Villa Urquiza: $511,845.
- Coghlan: $510,434.
- Parque Chas: $506,228.
- Villa Crespo: $503,303.
- Retiro: $493,504.
- Agronomia: $482,930.
- San Telmo: $479,830.
- Villa Ortúzar: $479,752.
- Paternal: $478,392.
- Almagro: $478,368.
- Villa Pueyrredón: $476,015.
- Caballito: $473,747.
- San Cristobal: $466,465.
- Villa Devoto: $464,595.
- Villa del Paque: $462,605.
- Parque Chacabuco : $461,703.
- Montserrat: $455,917.
- Villa Luro: $455,760.
- Boedo: $453,742.
- San Nicolas: $452,667.
- Villa General Mitre: $450,256.
- Parque Patricios: $445,570.
- Balvanera: $441,588.
- Monte Castro: $439,878.
- Santa Rita: $439,730.
- Barracas: $438,404.
- Constitucion: $434,222.
- La Boca: $432,366.
- Flores: $431,175.
- Mataeros: $419,924.
- Liniers: $419,456.
- Parque Avellaneda : $413,039.
- Floresta: $409,994.
- Lugano: $320,165.
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