According to the real estate portal, the rental value of a studio apartment in CABA is $61,064 per month, while a two-room apartment costs $74,557 per month and a three-room unit with 70 square meters is rented for $100,628 per month.
He added that above the City average, the northwest corridor areas were located with an average of $76,884 per month for a two-room apartment and the north corridor with an estimated $84,276 per month for the same typology.
In this context, he stressed that Puerto Madero is the most expensive neighborhood in the City of Buenos Aires with an average price of $138,329 per month. Palermo and Nuñez follow with $89,894 and $88,794 per month, respectively.
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In the middle zone are Santa Rita ($73,575 per month), Parque Chacabuco ($72,123 per month) and Boedo ($68,629 per month).
While, the cheapest neighborhoods to rent are Floresta ($58,378 per month), La Boca (58,705 pesos per month) and Liniers (59,485 pesos per month).
Mataderos (99.6%), Colegiales (96.7%) and Santa Rita (92.7%) are the neighborhoods with the highest year-on-year increase in price, while Puerto Madero (61%) is positioned as the one with the least increase, always According to the report of the real estate portal.
Buy-sell market: prices fall 4.3% in 2022
Sales prices in the year decreased by 4.3% and the value per square meter is located at US$2,253. This value decreases 0.5% compared to the previous month and accumulates 17 consecutive months down at least 0.5% each month, according to Zonaprop.
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“The units in well and brand new are those that fall the least, compared to the general average”, highlighted the report.
In this context, he stressed that The value of a studio apartment in the City of Buenos Aires is US$97,258. On the other hand, he indicated that a two-room apartment with 50 square meters has a value of US$117,722. And he added that a three-room, 70-square-meter apartment costs US$166,361.
“Four years ago the trend we see today was repeated, 90% of the neighborhoods registered a drop in price,” said the real estate portal.
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In that sense, he pointed out that 29% of the apartments for sale in August were revalued downwards in the last six months. And that the discount made rises slightly to 8.4%.
“Currently, there are no signs of reversal of the price trend from the behavior of revaluations,” the report highlighted.
Price ranking by neighborhood
The ranking of prices by neighborhood is headed by Puerto Madero (5,565 dollars/m2), Palermo (2,960 dollars/m2) and Belgrano (2,811 dollars/m2). The cheapest neighborhoods in the city are Lugano (1,076 dollars/m2), Nueva Pompeya (1,483 dollars/m2) and La Boca (1,528 dollars/m2).
Meanwhile, the rent/price ratio fell slightly and stood at 3.69% per year due to the depreciation of the peso. That is, 27.1 years of rent are needed to recover the initial investment. This value is 21% below what was required a year ago.
“Mataderos and Constitución are the best neighborhoods for investors looking for rent since they have an average return of 4.4% and 4.3% annually, respectively. On the contrary, Puerto Madero and Retiro are the ones that generate the lowest profitability (2.8% and 3.2%)”, the report concluded.
Source: Ambito
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