The prices of the rentals in the Buenos Aires Metropolitan Area (AMBA) recorded increases of up to 240% year-on-year in March, below inflation, and the supply of properties nominated in dollars. This emerges from the latest real estate report from the University of San Andrés and Mercado Libre.
- 116.2% in GBA North,
- 145.0% in GBA South
- 183.3% in GBA West in March.
For its part, in the apartment marketinterannual variations were observed in current prices per m2 of:
- 212.5% in CABA,
- 189.2% in GBA North,
- 240.5% in GBA South Zone
- 234.6% in GBA West.
Although they are considerable increases, in all cases the year-on-year jump in prices was below February inflation in the comparison with the same month of 2023, which was 276.2%, according to the survey.
Monthly rent increases
With relation to Februaryin March there were variations in the rental price in current pesos of apartments and houses in the 1.5% and -5.9%, respectively. The prices per m2 rental of houses at current prices registered variations of:
- -6.3% GBA North,
- -2.5% GBA South
- -4.3% West
Regarding the rental of apartments, inter-monthly variations in the price per m2 were observed at current values of:
- -0.4% GBA North,
- +4.0% GBA South
- +2.8% GBA West.
In CABA prices remained stable, without registering variations with respect to February.
Rentals: the neighborhoods in which prices increased the most
The neighborhood of CABA where the highest month-on-month increase in the rental price in current pesos per m2 of apartments was recorded was Flores (5.4%).
For its part, considering the municipalities of AMBA (excluding CABA), the largest month-on-month increase in the price of house rentals occurred in Ezeiza (1.2%) while in the case of apartments it occurred in Merlo (9.2%).
Two surprising trends in the rental market
The work also revealed that, regarding the supply of rental properties, in March 2024, two relevant facts stood out: the first was the continuation of the recomposition of the supply and the second, that the number of properties grew again. for rent nominated in dollars.
The increase in the rental supply is a fact that has been observed since January 2024, after the implementation of DNU 70/2023. Thus, when comparing the supply of houses and apartments for rent in March 2024 with November 2023, an increase was seen in the number of publications of:
- 240.7% in CABA,
- 122.9% in GBA Northern Zone,
- 204.8% in GBA South Zone
- 138.3% in GBA West.
Regarding the fact that in March the supply of rental properties nominated in dollars grew again: an increase was observed in the percentage of apartments for rent in that currency in CABA and GBA North Zone, mainly.
Source: Ambito
