“The offer and the number of operations in the city of Buenos Aires are telling us that as long as deeds do not increase, the accumulation of stock of properties for sale will be accentuated and in that scenario it will be very difficult for us to see price recovery Rather, we will see a downward trend. And the fall in price will be much more forceful in properties used with antiquity of more than 40 years without any type of recycling “.
The latest data from the real estate supply index published by Maure Inmobiliaria is not very encouraging for the rental market either. “The rental law was a very hard blow for the market, harming all those involved and we understand that much of that offer that was put up for sale could have been turned over to the rental market, giving more options and lower prices to tenants. The variation Year-on-year in the number of notices for apartments for rent showed a 6% drop in October, while the offer for sale increased by 23% “.
At the same time, the report highlights that: “The real estate market will not be able to easily get out of the stagnant state it is in. Exchange rate instability and high inflation do not create a favorable framework for mortgage credit, great engine of the real estate sales market “.
What is the rental price?
The rent of a studio apartment in the Autonomous City of Buenos Aires is located at $ 30,000, according to the median of the answers, so that the Vital and Mobile Minimum Wage, which in October is $ 32,000, covers 107% of a rent but it does not cover other expenses such as expenses and services.
Nevertheless, this ratio improved considerably in the last year since in September 2020 it covered only 84% of a studio apartment. This is clear from a report prepared by the Scalabrini Ortiz Center for Economic and Social Studies (CESO).
The median offers for two-room apartments is $ 37,000 and for three-room apartments, $ 55,000. In each category, prices vary depending on other characteristics (such as age, whether it has a garage, etc.) and its surroundings (infrastructure, availability of transport, proximity to shopping centers, among others). The values expressed above do not include expenses, which average 18% of the rental cost.
Source From: Ambito
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