According to a survey of the Universidad de San Andrés, the median sale price in dollars of houses per square meter fell 0.6% against the same month in 2022 and 6.9% in the case of apartments. In the case of the median value of the rent measured in pesos per square meter in AMBA grew 10.6% for houses and 0.6% for departments compared to the previous month.
In March 2023, in AMBA, the sale price per square meter in dollars of houses presented a year-on-year drop of 0.6% and 6.9% in the case of apartments. Compared to the previous month, rents measured in pesos per square meter for houses increased 10.6% while in the case of apartments it increased 0.6%.
In the case of sales differences between CABA and Greater Buenos Aires (GBA) North, South and Westwhere intermonthly variations are observed in the price per square meter in dollars of houses of -0.5% in CABA, +14.3% in GBA Norte, +6.4% in GBA Sur and +0, 9% in GBA West.
In the case of the apartments, the prices in dollars per square meter had monthly variations -0.2% in CABA, -1.1% in north GBA, +1.1% in south GBA, and -0.4% in west GBA.
In the year-on-year comparison, the prices per square meter measured in dollars of the houses they fell 9.8% in CABA, rose 9.2% in north GBA, fell 2.1% in south GBA and 6.2% in west GBA.
For departments, the interannual falls in sales prices per square meter were 7.3% in CABA, 4.8% in north GBA, 2.5% in south GBA, and 6.7% in west GBA.
The increase in demand explains the increase in the price of houses in the north of Greater Buenos Aires, a region in which visits to publications increased by 3.1% year-on-year, accompanied by a significant drop in supply (-33% ).
Rental of houses and apartments
In March 2023, the median rental price in constant pesos per square meter (that is, in real terms) in AMBA it grew by 10.6% in the case of houses and increased by 0.6% in the case of apartments, compared to February 2023.
In relation to the interannual variations of said price in the AMBA, there are increases of 7.3% in the housing market and 12.2% in the apartment market.
Distinguishing by AMBA agglomerates, in March 2023, relative to February 2023, the variation of the rental price in constant pesos per square meter of the houses was +5.9% in CABA, +10.7% in GBA Norte, +6.7% in GBA Sur and -0.7% in GBA Oeste.
On the other hand, in the case of departments, month-on-month change (compared to February 2023) of said price in CABA, GBA North, South and West was +3.2%, -0.1%, -1.1% and -1.8%, respectively.
taking the interannual variations (March 2023 with respect to March 2022), there is a variation in the rental price in constant pesos per square meter of the houses -5.3% in CABA, +3.9% in GBA Norte, +11.6% in GBA Sur and -1.6% in GBA Oeste.
Year-on-year, said prices of rent for the case of departments increases of 26.4%, 19.5% and 0.5%, respectively, were registered in CABA, GBA Norte and GBA Sur, while falls of 4.6% were registered in GBA Oeste.
Dollarization of the rental market
Another phenomenon that they highlight is that the drop in the rental price of houses can be explained in part by the fact that it is considerably dollarized compared to that of apartments: in the AMBA, 77.1% of the advertisements for houses for rent they are denominated in dollars, while in the case of departments, this percentage rises to 34.5%.