Starting a rental in the City of Buenos Aires becomes more and more difficult.
And this especially affects
families who rent
three, four
or more members, who now have to pay impressive amounts
to access adequately sized housing
.
According to a new study, for an apartment with
two bedrooms
and a living room (a typical
3-room apartment ) almost
$145,000 per month
is requested
on average, to which a month's deposit, guarantee and other costs must be added upfront.
The survey, carried out by the Zonaprop portal based on
notices published
in February, detected that in the last
12 months
the cost of these rentals increased by
104.6%
in Capital, while the 2 environments jumped even more:
111, 9%
on average.
In both cases, exceeding the last known data on general inflation (98.8%).
The data also shows that in the last
24 months
the values of a 3-room apartment accumulated increases of around
226%
: thus, current prices are already
more than triple
those of February 2021.
Beyond the debate on the causes of the phenomenon, and on the role of the new Rental Law, the concrete thing is that
a new price map
was formed .
What they are asking for rent today is more than double what it was a year ago and more than triple what it was 24 months ago.
Photo: Mario Quinteros.
The new map of rental values in the City of Buenos Aires
Currently, for the rent of a
studio apartment
in Capital they are asking around
$88,110
per month, which applies only for the
first year
, since then the contract must have adjustments every 12 months.
For a two - room
apartment
the amount already climbs to
$ 107,835
.
And to have one more bedroom you have to add
another $37,000
to that amount .
"Currently the
average price
of a
3-room
apartment in CABA is $
144,639
per month,"
Leandro Molina, commercial director of Zonaprop, explained to
Clarín .
"The demand for this typology represents 26% of the total in CABA, it is the
second most sought after
, while the most demanded is the 2-room apartment (41%)," he commented.
Beyond the debate on the causes of the phenomenon, and on the role of the new Rental Law, the truth is that a
new price map
was formed that is essential to know.
The cheapest and most expensive areas of Buenos Aires today to rent a 3-room apartment
Considering a typical
three-bedroom
with 73.5 square meters, the report showed that the most expensive Buenos Aires neighborhood to rent is
Palermo
, where the average price went to
$188,275 per month
.
"Puerto Madero was omitted from the analysis because its values are mostly
valued in another currency
," they clarified in Zonaprop.
After Palermo, among the most expensive neighborhoods to rent a similar property are
Núñez
with $171,973 per month,
Chacarita
with $170,254,
Colegiales
with $167,671,
Belgrano
with $166,911 and Recoleta with $162,981.
At an intermediate
price level
there are now neighborhoods such as
Villa del Parque
(
$146,195
per month),
Caballito
($145,439),
Villa Pueyrredón
($143,492), Villa Luro ($140,952), Constitución ($137,287) and
San Telmo
($137,287 ).
While the
cheapest
Buenos Aires districts to rent a 3-room apartment in February were
Liniers
(
$106,201
per month),
Floresta
(
$112,053
), Mataderos ($116,090), San Nicolás ($120,491), Villa General Miter ($122,766), Vélez Sarsfield ($125,928) and Flores ($126,328).
Palermo heads the price ranking and Liniers appears at the opposite end.
Photo: Maxi Failla.
In which neighborhoods did the price of renting a 3-room apartment increase the most and in which least?
For their part, when they compare
how much
the rental values have varied in the last 12 months, it emerges that the neighborhoods with the hardest increases were
Constitución
(
with
142%
average rise),
Chacarita
(
132%
),
San Telmo
(
125%
), Vélez Sarsfield (124%) and Villa Ortúzar (124%).
The
Top 10
neighborhoods with the highest annual increases are completed with
Palermo
(
119%
), Villa Luro (119%), Coghlan (119%), Retiro (119%) and
Balvanera (118%)
.
At the other extreme, the areas where
the cost of renting a 3-room apartment
rose the least were
Liniers (77%)
,
Villa Devoto
(
91%
), Parque Chacabuco (92%), Floresta (94%), Mataderos (95%), Monte Castro (95%), Villa General Miter (95%) and Barracas (100%), according to the report.
Constitución is the neighborhood that became more expensive to rent a 3-room apartment and now they are asking $137,287 per month.
Photo: Maxi Failla.
High demand and a collapsed supply
Experts attribute strong increases to the fact that the demand for rentals remains firm, compared to a supply of real estate that
collapsed
since the Rental Law 27,551 came into force -in July 2020.
It happens that this norm forced to sign contracts of at least
three years
and with
annual adjustments
in the price that cannot be agreed in advance, but are tied to an index that combines inflation and salaries.
So many owners,
disagreeing
with these impositions, chose to put their units up for sale, pass them on to temporary rental (Airbnb type) or give them other destinations.
And those who stayed in the market did so
strongly emphasizing
the initial value.
"The
low supply
generates higher prices in the market and
low accessibility
to housing," Molina summarized.
In this sense, according to a recent survey of the Statistics and Census entity of the City of Buenos Aires, only in the last year a third of the properties available for rent disappeared.
"As a reference - compared the research -, in
2022
the apartments offered averaged
3,000 units per quarter
, even less than the set available with the outbreak of the COVID-19 pandemic and the start of Social, Preventive and Mandatory Isolation".
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