According to CESO the median of the studio apartments offered in the Federal Capital is $49,000. The Minimum Vital and Mobile Salary, which in July is $45,540, covers 92.9% of rent. In the case of the Minimum Retirement Credit ($37,525), this ratio is 76.6%.
The median of offers for two-room apartments is $60,000 and for three-room apartments $85,000. In each category, the prices vary depending on other characteristics (such as age, if it has a garage, etc.) and its environment (infrastructure, availability of transportation, proximity to shopping centers, among others).
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The values expressed above do not include expenses, which reach an average of 15% of the rental cost..
In the last twelve months, the cost of renting a studio apartment in the Federal Capital increased 75.0%. In the apartments with 2 rooms, the increase was 87.5% and 70.0% in those with 3 rooms. On the other hand, the latest inflation data shows that, for the month of June, the year-on-year variation in prices was 64.0%.
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In the month-on-month comparison, the increases with respect to June 2022 were 8.9% in studio apartments, 3.4% for those with 2 rooms and 6.3% in those with 3 rooms.
For what is to come, the Index for Lease Contracts published daily by the BCRA and defines the updates of the contracts shows a year-on-year increase of 58.2% on the first business day of July.
In CESO they point out that “the debate on the Rental Law in the National Congress in which a sector strongly advocated improving conditions for owners, generated incentives to ‘wait and see’, reducing the supply of units”.
“Furthermore, the context of inflationary acceleration adds uncertainty when it comes to setting values that will govern for 12 months. This, which is a macroeconomic problem beyond contractual conditions, has been translated into high entry values that, with the current rates of inflation, liquefy quickly but are a very significant barrier to enter a rental”, they affirm.
The reform of the Rental Law is one of the debates that remains open in Congress. The opposition in the Chamber of Deputies, led by Together for Change and the Federal Interblock, had reached an agreement about a month ago to reform the current law and return to two-year contracts.
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In fact, they signed a minority opinion in the Budget committee and had already set a date (June 30) to discuss the project on the premises, confident that the numbers were there.
But that momentum deflated overnight when tenant groups reacted vehemently on social networks in rejection of the opposition bill’s article that enabled prices to be adjusted every three months.
That reaction led to the deputies of Together We Are Río Negro withdrawing their support, as did the missionaries of the Front of Concord.
The incorporation of the clause of quarterly price adjustments had been the product of pressure from the PRO, through deputy Luciano Laspina, who initially demanded to remove the obligation to agree on a certain term, leaving the decision to the agreement between the parties.
As a Solomonic solution, they agreed to establish that the updates of the rental values should be carried out in a range of 3 to 12 months. The UCR and the Civic Coalition preferred to leave the term in six months, but gave in after reaching an agreement.
In this shuffling and giving again, the cards are once again in favor of those who encourage semi-annual adjustments. The ruling party, on the other hand, maintains in its ruling the broad outlines of the current law (three-year contracts and annual price indexation), and adds a chapter on tax benefits to reverse the decline in the supply of real estate in rental.
Source: Ambito
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