The apartment offer for rent in the City of Buenos Aires (CABA) grew 124.6% between December and February, since during that period it was no longer in the law that regulated the sector came into force. This was indicated by a survey on the real estate market carried out by the University of San Andrés and Mercado Libre.
There was also recorded a strong increase in supply in Greater Buenos Aires (GBA): in the north, 61.1%; in the west, 54.9% and in the south, 108.7%.
“These increases could be related to the legislative changes and its effect on willingness of owners to offer their properties for rent“, according to a survey on the real estate market by the University of San Andrés and the Mercado Libre company.
Without the rental law, the rents have been modified. incentives to put properties up for rent, indirectly affecting the supply of properties for sale, which fell during February, according to the report.
Rentals: in which areas supply and prices increased the most
Only in Februaryoffer of properties for rent increased considerably in a large part of the agglomerations of the Buenos Aires Metropolitan Area (AMBA): in the case of departments, the increase in CABA, GBA North, GBA South and West has been 93.8%, 28.7%, 57.8% and 37.0 %, respectively.
Furthermore, in the AMBA During February, there were increases in the rental price in current pesos of apartments and houses of 2.3% and 0.6%, respectively, compared to January 2024.
As for the Apartment rental, Inter-monthly variations in the price per square meter (m2) were observed in current prices of +0.5%, -0.9%, +7.0% and +7.3% for CABA, GBA North, South and West, respectively.
He CABA neighborhood where the largest inter-monthly increase in the rental price in current pesos per m2 of apartments occurred was Almagro (7.6%), while in the GBA it was registered in Lanús.
Regarding the sale, the survey showed that in the AMBA In February, an inter-monthly variation in the price per m2 in dollars of apartments of 0.1% was recorded, while the variation in the price of houses was -0.6%.
Property sales: what happens in CABA and GBA
He houses for sale market has been decreasing in GBA North and GBA South since July 2023 and since August 2023 in GBA West, while the number of apartments has been decreasing in GBA West, GBA South and GBA North since October 2019, November of 2023 and February 2024, respectively.
On the other hand, the apartment market It has been rising in CABA since August 2023.
In CABA, the largest year-on-year drop in sales price in dollars per m2 of apartments in February occurred in Versailles, with a variation of -10.0%.
In the GBA, Lomas de Zamora was the municipality that recorded the largest year-on-year drop in the sales price in dollars per m2 of houses (-13.2%); In the case of the departments, the largest drop occurred in Malvinas Argentinas (-18.9%).
Source: Ambito
