According to a recent report by Mercado Libre together with UDESA, month-on-month increases in the price per m2 at current prices of 10.9%, 6.9%, 7.1% and 7.8% were observed in June for CABA, GBA North, South and West, respectively.
The price of the rentals, Like other prices, they are a variable to watch to see how you are doing in the economy. According to a report prepared by Mercado Libre and the University of San Andrés (Udesa), the rentals during the month of July in AMBA they increased 15.3% for the departments while in CABA, said increase was 10.9%, far exceeding the estimate expected by most analysts.
Distinguishing by AMBA agglomerates, in June 2023 relative to May 2023, the prices per m2 of house rental at current prices they registered variations of +10%, -8.4%, +0.7% and 8% in CABA, GBA North, South and West, respectively. Regarding apartment rentals, Monthly increases in the price per m2 are observed at current prices of 10.9%, 6.9%, 7.1% and 7.8% for CABA, GBA North, South and West, respectively.
If the intermonthly variations of the median rental price in constant pesos per m2 are considered (that is, in real terms), in AMBA, said price falls by 13.7% in the case of houses and increases by 6.7% in the case of apartments. departments, compared to May 2023, in this case it is in line with inflation.
What are the neighborhoods with the highest price increases?
Exploiting the granularity of the data by neighborhoods of CABA and municipalities of AMBA, it is observed that the neighborhood of CABA where the highest intermonthly increase in the rental price in current pesos per m2 of apartments occurs It has been in Villa Crespo (19.9%). On the other hand, considering the municipalities of AMBA (excluding CABA), the greatest inter-monthly variation of said house rental price occurs in La Matanza (+18.2%) while in the case of apartments it occurs in Ezeiza (+22.7%).
The report also determined which are the most demanded neighborhoods in the AMBA, both for renting and buying homes, according to square meters and number of rooms.
Villa Urquiza and Caballito, in CABA, turned out to be the most demanded and there are the largest number of one, two or three-room properties.
However, it is important to clarify that the increases correspond to new contracts, that is, to the prices set by real estate agents for those who are beginning to rent a home.
rentalML.PNG
The supply of real estate for rent plummets
The offer to rent in the traditional way in the Metropolitan Area of Buenos Aires (AMBA) collapsed: Of the 100% of properties published, only 5% are proposed for the rental of apartments, houses or PH.
This amid the rise of Airbnb rentals and the multiple criticisms of the current Rental Law. The main reason put forward by the market to withdraw the offer is 3-year contracts with 1 annual increase due to the advance of inflation, and that the Rental Contracts Index (ICL) whose data is published on the Central Bank website and is based on the CPI and the Ripte (Average taxable remuneration of stable workers), was outdated.
According to the same analysis, the interannual prices per square meter of apartment rentals in the AMBA increased by 194.4% in apartments, driven by increases in the city of Buenos Aires and the northern zone of Greater Buenos Aires (GBA), and the houses rose 152% above all due to the thrust detected in all areas.
Source: Ambito
