The units in well and brand new are those that fall the least, compared to the general average, they highlighted.
From the company they detailed that the value of a studio apartment in CABA is 96,830 dollars, while a two-room apartment with 50 square meters has a value of 117,058 dollars. While, a three-room, 70-square-meter apartment costs $165,050.
The ranking of prices by neighborhood is headed by Puerto Madero ($5,578/m2), Palermo ($2,953/m2) and Belgrano ($2,791/m2). The cheapest neighborhoods in the city are Lugano ($1,078/m2), Nueva Pompeya ($1,465/m2), and La Boca ($1,510/m2).
What happens to the demand?
55% of property searches are for rent. According to a Zonaprop report, it is a trend that has been maintained since 2019, while the demand for sale is 35% and 10% for temporary rental.
Most of the property searches in 2017 and 2018 were for acquisition, this percentage was 57%, while it currently decreases to 35%. This is confirmed by the new report on the demand for rental properties from the portal, Zonaprop, which indicates that today 55% of the demand is looking for a property for rent.
Hand in hand with the pandemic, decentralization was observed, with a deepening in rental demand in Greater Buenos Aires. Nevertheless, currently a partial reversal of this trend can be seen. CABA maintains 59% of rental searches, a figure that is recovering and that in 2017 reached 70%.
When analyzing the demand according to the type of operation by area, the report reveals that GBA West-South increases its concentration in the rental market: 68% of users interested in properties in this area are looking for properties for rent. This figure is 11 percentage points above the average in AMBA and 12 points above the rental segment in CABA (56%).
The dynamics in the search intention is expanding in the rental market, mainly due to the difficulties of accessing one’s own home, although rental prices also increase above inflation. An apartment with two rooms and 50 m2 in the City of Buenos Aires is located at 79,266 pesos per month. So far this year it has increased by 69% and supply remains limited.
Real estate profitability rises compared to the previous month
The rent/price ratio increased slightly and stood at 3.9% per year. In other words, 25.7 years of rent are needed to recover the initial investment. This value is 23% below what was required a year ago.
Constitución and Villa General Miter are the best neighborhoods for investors looking for rent as they have an average return of 4.7% and 4.6% per year, respectively. On the contrary, Puerto Madero and Retiro are the ones that generate the least profitability.
Source: Ambito
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