Faced with the acceleration in the CPI experienced in recent months, the last stock survey at the beginning of August showed a lower year-on-year increase than that experienced by retail inflation, reversing again the trend observed since the fourth quarter of 2020 when the measurements of the increase in rental prices exceeded the general price index.
So while the year-on-year inflation measured by INDEC to the seventh month of 2022 was 71%the used apartments of standard quality offered for rent at the beginning of May showed a 70.4% increase on average for the case of those with one bedroom and the 55.7% for the 2 bedroom units.
The two-room units had a strong acceleration of increases in the last quarter reaching 19.7%, making the increase in the year-on-year comparison more pronounced than for the three-room units. This is surely due to a “floor” value that the rents are having and it affects the units of lesser value first.
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The citywide median value for used 2-bedroom apartments in August 2022 is nearly $50,000, while the 3 room units listed above $61,000. The reality is that beyond the public offering averages for standard units, if you are looking for a unit in good condition, the values far exceed these averages. The issue is that the notices last so little, only hours in the portals, so the values of good units in the figures are hardly verified.
However, despite being below inflation, as in recent quarters, in the year-on-year comparison of increases since 2009 (starting year of the Real Estate Report rental value series), the current month of August again shows the largest increase in the 13 years since the start of the survey.
Source: Ambito
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