DNU
70/2023
, which changed the rules for renting, has just been rejected by the Senate but will remain 100% in force until the same thing happens in the Deputies.
In this framework, for those who must
start or renew
a contract in Buenos Aires, the panorama has lights and shadows.
On the one hand, there are many
more homes
to choose from
.
On the other hand, their
prices
, which had skyrocketed in 2023,
remain very high
.
And the latter especially impacts
large families
-of 3, 4 or more members-, who to access a home of adequate size today must commit to paying monthly amounts
greater than half a million
pesos in
most neighborhoods
.
According to a survey by the real estate portal Zonaprop, in February the
rental supply
was
96% higher
than in December (it doubled in two months) and
values in pesos
advanced
less than 3%
monthly, which implied - as they highlighted - a " strong deceleration".
Now, despite these encouraging data, in February 2024 the average price of a
typical 3-room
in Capital was
293% higher
than that registered in February 2023. Therefore, the owners continue asking for
almost
four times as much
as
a year
ago .
The report also shows that in the
last 24 months
the values of the 3 environments accumulated increases of around
704%
.
That is, they have
multiplied by eight
since February 2022.
Now, then, what are
the prices
to consider?
And
what neighborhoods
can each tenant in the City aspire to according to their budget?
The
value map
was radically modified and it is key to know it before undertaking a search.
For rent today they ask for four times as much as a year ago.
Photo: Federico López Claro.
The new CABA rental prices: how much they reached in February 2024
Currently, for the rental of a
studio apartment
in Capital they are asking around
$354,568 per month
for the
first period
(later the fee will have adjustments with the mechanism agreed upon).
For a 2-room
apartment
the amount rose to
$416,991
and renting a
3-room apartment
is now worth about
$568,314
per month, always according to Zonaprop.
Now, beyond these averages,
very notable differences
appear between the
different neighborhoods
, both in prices and in the variation that they suffered.
There are points in the City where rents increased by
243%
or 253% year-on-year, while in other areas they skyrocketed by 301%, 325% or even
more than 350%
.
The cheapest and most expensive neighborhoods in Buenos Aires today to rent a 3-room apartment
Considering a
standard
3-room apartment with
73.5 m2
, the Zonaprop data accessed by
Clarín
shows that the most expensive Buenos Aires neighborhood to rent continues to be
Palermo
, where the average price rose to
$793,900 per month
(Puerto Madero is excluded). of the analysis because it has values mostly in dollars).
Among the
most expensive
neighborhoods are
Núñez
(
$730,900
),
Belgrano
(
$718,300
),
Coghlan
(
$716,400
), Villa Urquiza ($666,100), Recoleta ($656,800), Colegiales ($651,000) and Retiro ($645,000).
With an intermediate
price level
there are now neighborhoods such as
Boedo
(
$574,400
), Villa Crespo ($570,700),
Caballito
(
$563,400
), Villa del Parque ($550,189),
Villa Devoto
(
$535,600
) and Monserrat ($531,100).
While the
most economical
districts to rent a 3-bedroom were in February
Floresta
(
$432,400
),
Barracas
(
$449,100
),
Liniers
(
$454,000
per month), Vélez Sarsfield ($456,300), Mataderos ($456,500) and San Cristóbal ($460,000).
In Barracas, renting a 3-bedroom now requires almost $450,000 per month.
Photo: Luciano Thieberger.
In which neighborhoods did the price of renting a 3-room apartment increase the most and in which the least?
When comparing
how much the values varied
in each area in the
last 12 months
to rent a 3-bedroom, it appears that the neighborhoods with the hardest increases were
Coghlan
(with
351%
average increase),
Belgrano
(
330%
),
Núñez
(
325%
). , Palermo (322%) and Villa Urquiza (321%).
The
Top 10
neighborhoods with the highest year-on-year increases are completed by Monserrat (312%), Villa Miter (308%), Liniers (305%), Parque Chacabuco (304%) and Recoleta (303%).
At the other extreme, the places where
the cost of renting this type of housing
increased the least were
Barracas
(
243%
),
San Cristóbal
(
250%
),
San Telmo
(
253%
), Vélez Sarsfield (262%), Monte Castro (266% ), Almagro (274%) and Villa Santa Rita (275%), according to the report.
Palermo heads the price ranking and at the other end is Floresta.
Photo: Maxi Failla.
What were the main changes that DNU 70/2023 brought to rentals?
The presidential decree swept away the rental laws of 2020 (27,551) and 2023 (27,737), and reformed key articles of the Civil and Commercial Code referring to the issue to
reduce state intervention
.
In this way, as
main novelties
, the DNU of Javier Milei:
-
Removed the minimum duration
.
There was no longer a legal requirement to rent homes for at least 3 years.
The parties can now freely agree on the deadline.
-
The penalty changed for leaving earlier
.
The tenant can now terminate at any time, paying the owner compensation equivalent to 10% of everything remaining to be paid under the contract.
-
Allowed you to agree on the settings
.
Previous laws imposed the frequency of updates (annual or semi-annual) and the indices to be used.
But after the DNU, the parties can freely negotiate which formula to apply and with what frequency.
-
Enabled contracts in dollars
.
"The rents may be established in legal tender or foreign currency, at the free discretion of the parties," defines the decree.
-
Allowed the deposit to be agreed upon
.
The previous limit of 1 month's rent was eliminated and the obligation for that money to be returned updated to the value of the last rental.
Now, the parties can "freely determine" these aspects.
-
Allowed advance payments
.
After the DNU, it is accepted that in housing rentals the parties agree to payments for several months together, which was previously prohibited.
What happened this Thursday in the Senate, where the DNU was rejected,
does not invalidate its effects
.
According to Law 26,122, it would only cease to be valid once
both chambers
have rejected it.
The last word, then, will now be the Chamber of Deputies.
And in the meantime, the rule still stands.
MDG