In a constant upward climb, rental prices seem to have no ceiling:
in the City of Buenos Aires, the values of the apartments on offer increased by 10.1% in April.
It is the largest rise recorded since the Zonaprop platform began to survey this index, in March
2012.
So far in 2023, the prices that tenants have had to face accumulate a
38.4% increase, this is above inflation, which was 29.6%
in the same period, and also the Rental Contracts Index (ICL), the indicator prepared by the Central Bank, with a mix of inflation and the evolution of wages.
The median rental price for
a studio apartment is $105,613
per month.
A two-room apartment reaches $128,584 per month and one with three rooms has a value of $169,000.
The neighborhoods of
Palermo and Belgrano are those with the most expensive offer in the city, with a value of $165,061 and $152,104 per month,
respectively.
In the middle zone are
Villa Crespo
($132,524 per month), Villa Gral Miter ($122,504) and Paternal ($115,029).
The
lowest prices
are found in Mataderos ($98,003 per month), Liniers ($99,268) and Flores ($104,432 per month).
Rising rents coupled with the downward trend in property values are driving profitability for owners.
In April, for example, the rent rose to 4.74%, that is,
21.1 years of rent are needed to recover the purchase investment, 21% less than a year ago.
The
San Cristóbal and Boedo
neighborhoods show a gross return of 6.3% and 5.8% per year, respectively.
In that sense,
they are the best neighborhoods for investors
looking for income.
On the contrary, Villa Devoto and Liniers are the ones that generate the lowest profitability (3.9%).
Another survey, made between the University of San Andrés and the notices published on the Mercado Libre platform, gives an account of the evolution of the real estate market in a more extended area: the AMBA.
According to these records, the median rental price in constant pesos per square meter (that is, in real terms) in this area
grew 12.5% in the case of houses and increased 4% in the case of houses. of the departments
in April compared to March.
"Distinguishing by AMBA agglomerates, in April compared to March, the variation in the rental price in constant pesos per m2 of houses was
6.6% in CABA; 8.5% in North GBA; 17.2% in South GBA and 1.3% in GBA West.
In the case of apartments, the monthly rise in prices (compared to March 2023) in CABA;
GBA North and South were 12.7%, 3.9% and 2.9%, respectively, while in GBA West it fell 1.1%.
A recent CESO report, which also includes rental prices in April, highlights that "the context of accelerating inflation adds uncertainty when it comes to having to set
values that will apply for 12 months."
"This, which is a macroeconomic problem beyond the contractual conditions, has been translating into high entry values that, although with the current inflation rates they liquefy quickly, constitute a significant barrier to entering a new rental" .
In this framework, according to this Center, "an increase in the percentage of offers expressed in dollars is observed
, mainly from February 2022.
NE
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