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Renting a two room exceeds $ 40 thousand in the City of Buenos Aires

2021-07-30T21:54:53.850Z

The rise in rents occurs in parallel to a depreciation of property values ​​that accumulate a 4.2% drop in the year.



Natalia Muscatelli

07/30/2021 10:13 AM

  • Clarín.com

  • Economy

Updated 07/30/2021 10:13 AM

So far in 2021,

rents accumulate a rise of 31.6%,

a level above inflation and in the last month they increased 2.9%.

With which, renting a two-room apartment in the City of Buenos Aires

already exceeds $ 40,000 per month,

according to a report by the property portal Zonaprop.

According to these records, in the last twelve months,

rental notices accumulate an increase of 64.4%,

above inflation (51.7%) and the Index for

Rental

Contracts (ICL) published by the Bank Central (44.6%). 

How much money does it cost to rent in the city of Buenos Aires?

A 50 m2 two-room apartment has an average value of $ 40,364 per month.

While a unit with three rooms and 70 m2 is rented for $ 56,156 per month.


According to their typology,

the brand new apartments are those that increase the most.

A brand new unit in the port area has an average cost of $ 45,691 per month and a used apartment of $ 39,556.

A ranking of prices in the different neighborhoods put together by the platform,

Puerto Madero is the most expensive ($ 83,235 per month)

, followed by Villa Ortuzar ($ 47,928) and Palermo ($ 47,047).

In the middle price zone are: Colegiales ($ 42,758), Chacarita ($ 39,983), Caballito ($ 39,912), Parque Chacabuco ($ 37,3889 and Constitución ($ 35,079).

The neighborhoods that represent the cheapest rents are: Liniers ($ 31,721 pesos per month ), Lugano ($ 33,011) and Floresta ($ 33,423).

All neighborhoods in the City of Buenos Aires register an increase in their interannual value of more than 45%. Villa Ortuzar is the one with the highest price increase in the last twelve months (93.2%), followed by Villa del Parque (91.8%) and Boedo (91.5%). On the other hand,

those that had a lower annual price increase are: Retiro (54%), San Nicolás (53.2%) and Parque Chacabuco (45.9%).

Regarding the evolution of the

real estate buying and selling

market

, prices continue to trend downwards due

to the low mobility in real estate companies.

According to the platform, "the apartments for sale show a decrease of 1.0% during the last month and

accumulate a decrease of 4.2% in 2021.

Currently, the average value of the square meter in the City of Buenos Aires is $ 2,436, according to the report.

How much money does it cost to buy a property in CABA?

According to the survey, a unit with two rooms and 50 m2 costs -on average- US $ 126,885 and a unit with three rooms and 70 m2 reaches US $ 180,439.

"23% of the total of the apartments for sale were slowed down in the last 6 months

and reached their maximum level since the beginning of the series," according to ZonaProp. While, in 2017 the percentage of delayed was located at 14%. That trend began to increase in late 2018 and has continued to the present. Today, the average discount that operations in this type of units usually have, according to the experience in the last 6 months, is 7.7%.


The properties that most resist going down in price

are clearly

the units built in the well.

According to the type of property, the price per square meter varies but a brand new apartment in the City of Buenos Aires has a value close to US $ 2,660 / m2 and a used unit, US $ 2,537 / m2.

The indicator carried by Mercado Libre and the University of San Andrés (UdeSA) indicates that

the sale values ​​in CABA have been falling since February 2019


Taking into account the two variables, rental prices and property values, the profitability for the owners improved a little, although it is still at very low levels compared to other times.

According to the data handled by

Reporte Inmobiliario, as

of May of this year, the average gross annual income obtained by an owner for the rental of a standard used one-bedroom apartment in the city of Buenos Aires was

2.71 Annual%,

while three months ago it reached 2.23.

The ZonaProp report adds another piece of information: 

whoever has a rented property in CABA needs 34 years of rent to recover the investment,

27% below what was required a year ago.


YN

Look also

Rentals: contracts that were signed in August 2020 could suffer an adjustment close to 50%

Greater Buenos Aires: zone by zone, how much money do you need to rent an apartment

Source: clarin

All business articles on 2021-07-30

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