The prices of the apartment rentals in the city of Buenos Aires registered monthly increases of between 3.2% and 14.3% in May, depending on the location and number of rooms, according to the survey released today by the Center for Economic and Social Studies Scalabrini Ortiz (CESO).
The report indicated that the increases with respect to April values were 8.8% in studio apartments, 14.3% for two-room apartments and 3.2% in three-room apartments.
He also indicated that the accumulated increases in the last twelve months were 115.1% for studio apartments in Buenos Aires, 140% for units with two rooms and 109.2% for those with three rooms, in a period in which inflation amounted to 108.8%, according to the National Institute of Statistics and Censuses (Indec).
How much does it cost to rent a studio apartment in CABA
The entity specified that the median of the studio apartments offered in the city is $92,500, so the Minimum Vital and Mobile Wage, which in March is $84,512, is enough to cover 91.36% of a rent.
How much does it cost to rent a 2 and 3 room apartment in CABA
On the other hand, the median of offers for two-room apartments is $120,000 and $160,000 for three-room apartments, with minimum wage coverage of 70.43% and 52.82%, respectively.
“The values expressed above do not include expenses, which reach an average of 14% of the cost of the offer price of a rental“added the entity led by economist Andrés Asiaín.
He also indicated that “in each category, prices vary depending on other characteristics (such as age, whether it has a garage, etc.) and its environment (infrastructure, availability of transportation, proximity to shopping centers, among others).”
The Rental Contracts Index, which regulates the updating of rents within a contract already in force, shows a year-on-year increase of 95.9% on the first business day of April, 12.9 percentage points less than inflation.
The CESO highlighted that “In the City of Buenos Aires, high prices prevent a large part of the population from renting even an average studio apartment, pushing them towards areas with lower quality infrastructure and services”.
“The context of inflationary acceleration adds uncertainty when it comes to having to set values that will be in force for 12 months,” he added, in addition to noting that this situation “has been translating into high input values that, although with the rates of current inflation liquefies rapidly, they constitute a significant barrier to entering a new lease.
Source: Ambito
