Typical Rental Rates in Buenos Aires' Neighborhood

[MDirtBoy]

This is from this weekend's La Nacion. Numbers are applicable for Permanent Residents. If you are renting with a Passport as an Expat you can expect to pay more.

(this is a selection from a complete table, pg 4, Propiedades & Countries)

In Pesos for 3 Rooms

Barracas - 1800/2500
Barrio Norte - 2700/3300
Belgrano - 2000/2900
Caballito - 2000/2600
Colegiales - 1800/2400
Monserat - 1800/2200
Nuñez - 1900/2300
Palermo Viejo - 2200/2900
Palermo Chico - 3300/5500
Palermo Hollywood - 2200/3000
Palermo Nuevo - 2700/3200
Puerto Madero - 3700/7300
Recoleta - 3200/4900
San Telmo - 1800/2300
Villa Crespo - 2000/2500
Villa Urquiza - 1900/2400

 

[Therek]

These prices are only applicable with a two year contract and a guarantee and don't include monthly building expenses, monthly ABL, monthly utilities, furniture, household appliances, cleaning and laundry expenses and in most cases apartment fixtures. I don't think the prices are different only because someone is " an expat with a passport ".

 

[KurtCoue]

These prices are only applicable with a two year contract and a guarantee and don't include monthly building expenses, monthly ABL, monthly utilities, furniture, household appliances, cleaning and laundry expenses and in most cases apartment fixtures. I don't think the prices are different only because someone is " an expat with a passport ".

My experience is temp rentals are about 25-30% more expensive but include all expenses

Most expenses running probally 800-1200 peso now

 

[StarLucias]

My experience is temp rentals are about 25-30% more expensive but include all expenses

Most expenses running probally 800-1200 peso now

I'm passing along actual numbers for a 1-bedroom apartment in a very good building in Palermo Soho that I rent out temporario. For the period 5-15-2011 to 5-15-2012, the average monthly cost to me was A$R 4,083.43, and of course it's weighted toward recent months, so I would anticipate 5-2012 through 5-2013 to run about 30% more. I can't easily calculate a recent-month average because some largish expenses are paid annually or semi-annually.

This includes expensas, taxes, utilities, insurance, maid, laundry, replacing worn and broken stuff, etc. It does not include agents' commissions, the cost of furnishing and equipping an apartment, or my time involved in minor repairs and oversight.

I should also point out that my costs are on the low end, based on comparison with costs paid by other owners who rent through the same rental agency.

 

[KurtCoue]

I'm passing along actual numbers for a 1-bedroom apartment in a very good building in Palermo Soho that I rent out temporario. For the period 5-15-2011 to 5-15-2012, the average monthly cost to me was A$R 4,083.43, and of course it's weighted toward recent months, so I would anticipate 5-2012 through 5-2013 to run about 30% more. I can't easily calculate a recent-month average because some largish expenses are paid annually or semi-annually.

This includes expensas, taxes, utilities, insurance, maid, laundry, replacing worn and broken stuff, etc. It does not include agents' commissions, the cost of furnishing and equipping an apartment, or my time involved in minor repairs and oversight.

I should also point out that my costs are on the low end, based on comparison with costs paid by other owners who rent through the same rental agency.

That must be a really nice bulding then and if you don't mind I would like to see your figure. Either here or by PM, wont post anything offcourse.

Hard to imagine you can actually make a profit if you rent it out with 4000 pesos of fixed cost. My guess your talking about 8000 peso(2000 dollar a month) with full ocupation to make a profit

 

[StarLucias]

That must be a really nice bulding then and if you don't mind I would like to see your figure. Either here or by PM, wont post anything offcourse.

Hard to imagine you can actually make a profit if you rent it out with 4000 pesos of fixed cost. My guess your talking about 8000 peso(2000 dollar a month) with full ocupation to make a profit

The numbers are real. My accountant audits them from time to time and says they're in line with the expenses of other clients in the same business. Btw, I did not include my income taxes or bienes personales in the monthly number.

As I said, it's a high-end apartment. The monthly expenses include air conditioning in each room, which many guests use non-stop, a full digital cable subscription on 2 sets, high-speed wireless, VoIP phone, local phone, etc. Someone living frugally could save a fraction of these costs, but I doubt if they reduce them by more than 30%.

The building expensas are actually fairly reasonable - $717,85 this month - because it's in a large building with lots of owners to share the costs. And the utilities are still subsidized, so I anticipate a big jump in costs in the not-so-distant future.

I posted my actual costs because the estimate you posted seemed way out of line for anything outside a small apartment in the south end of town with no heating or air conditioning. I think readers imagining how much they might save with a 2-year unfurnished rental really should think twice about their total costs.

 

[earlyretirement]

I'm passing along actual numbers for a 1-bedroom apartment in a very good building in Palermo Soho that I rent out temporario. For the period 5-15-2011 to 5-15-2012, the average monthly cost to me was A$R 4,083.43, and of course it's weighted toward recent months, so I would anticipate 5-2012 through 5-2013 to run about 30% more. I can't easily calculate a recent-month average because some largish expenses are paid annually or semi-annually.

This includes expensas, taxes, utilities, insurance, maid, laundry, replacing worn and broken stuff, etc. It does not include agents' commissions, the cost of furnishing and equipping an apartment, or my time involved in minor repairs and oversight.

I should also point out that my costs are on the low end, based on comparison with costs paid by other owners who rent through the same rental agency.

Absolutely jimdepalermo's numbers look correct. I own a 2 bedroom 2 bathroom apartment in Recoleta and pay quite a bit as well.

Condo fees continue to keep going up at least with actual inflation and in many cases faster. I have a good friend that owns a really nice 2 bedroom apartment in Puerto Madero. Quite large around 225 sq. meters and his condo fees jumped up tremendously. He said it used to be $1,000 US per month (dollars NOT pesos) and now it's around $1,500 per month. It's obscenely high in Puerto Madero in the upscale buildings with a lot of employees since they are forced to give the almost 30% a year raises.

On my 2 bedroom 2 bathroom in an older building in Recoleta I pay around 1,500 pesos per month just for the condo fees alone. Like Jim, you have to add on all the other expenses which really add up.

- Fibertel with the 5 MB fast service is about 120 pesos a month

- Cablevision with 2 digital cable converter boxes is around 350 pesos a month with several English channels

- Electricity is quite high for local standards as people always leave the lights and AC running. More so now that the subsidies have ended. My last electricity bill for a 60 day period was 1,200 pesos so an average of 600 pesos a month just in electricity. (I can't imagine what this will be in the really hot summer months)

- Gas is fairly cheap so not a big expense but add on about 75 pesos per billing cycle

- Water isn't too expensive either but still add on at least 100 pesos per billing cycle

- Full insurance insuring it for fire, break ins, etc. I pay a policy that is in dollars. I pay about $35 US per month so what's that..another 175 pesos a month or so...

- Vonage is $20 US per month

- Local phone line I have blocked for cellphone calls and long distance but still costs around 50 pesos a month

- My ABL taxes have steadily increased over the years. (I'm not sure if Jim included that in his figures when he says taxes. Mine are around 4,500 pesos a year but will probably go up next year. So this is another 375 pesos a month. Someone mentioned "monthly ABL bills" but you don't actually get them each month. They come 6 times a year or you can pay it one time in the beginning of the year.

- For the sake of argument, let's not include the $2,000 US I pay in asset/property taxes each year on the property (which averages around $167 US per month)

- Also, that's not including the high rental taxes that I have to pay which are 21% of all rentals. Or doesn't include any management fees to my property manager which aren't cheap.

- Maid and laundry costs have also gone up drastically over the years. Of course it depends on if there are more rentals then I pay more but I don't think i've ever paid less than 500 pesos a month on maid and laundry expenses getting the property ready between rentals.

Like Jim I'm not including any of my time or expenses for upkeep and maintenance which also add up. I also don't charge guests for broken dishes or little stuff so that constantly adds up as well. And stuff will eventually break or need to be replaced. Rental guests don't take as good of care as things as an owner. I just spent 4,300 pesos on a new washing machine. I replace towels/sheets periodically which are very expensive there in Buenos Aires for the good stuff.

Jimdepalermo's numbers actually look fairly good. I also own a 1 bedroom in Recoleta and my condo fees alone in that building have skyrocketed up to 1,200 pesos per month and this is with no security at all or any amenities in the building.

 

[Mart]

Thank you to the property owners for posting real numbers. I constantly read pepole griping how expensive short-term rentals are and most people have NO idea how expensive it is to have a property here. And you guys haven't even factored in the expense of furnishing the apt in the first place. Every time I have to buy something, I get sticker shock.

 

[earlyretirement]

Thank you to the property owners for posting real numbers. I constantly read pepole griping how expensive short-term rentals are and most people have NO idea how expensive it is to have a property here. And you guys haven't even factored in the expense of furnishing the apt in the first place. Every time I have to buy something, I get sticker shock.

You are welcome. you make a GREAT point about just how expensive it is to furnish a property here correctly. Most locals don't spend much on their flats and lots of junky apartments out there. Many with no AC but most of us expats put ACs in each room, go high end on furniture, put in LCD TVs, etc. All which are very expensive. You can easily spend $25,000 US to $30,000 furnishing a 1 bedroom property! Things here are much more expensive than the USA. Electronics are crazy expensive.

Not to mention the fact that properties here are all cash with no mortgages. Very surreal to spend a quarter of a million dollars in CASH on a 2 bedroom apartment between buying and furnishing it. Most people don't understand all the dynamics of just how expensive it is. And forget the part about it not being leveraged/financed which is a big deal.