According to the report, the rent of a 50 m2 two-room apartment in the city already stands at 45,350 pesos per month, 3.3% above the previous month. A unit with three rooms and 70 m2 is rented for 63,457 pesos per month.
Puerto Madero leads the price ranking as the most expensive neighborhood with a value of 95,706 pesos per month, followed by Nuñez (51,797 pesos per month) and Palermo (51,782 pesos per month). In the middle are Villa Devoto (47,322 pesos per month), Caballito (45,174 pesos per month), Villa Luro (43,972 pesos per month), Monte Castro (42,742 pesos per month) and San Telmo (40,579 pesos per month). The cheapest neighborhoods to rent are Lugano (30,737 pesos per month), La Boca (36,626 pesos per month) and Barracas (37,931 pesos per month).
Rents accumulate a rise of 47.8% in 2021, slightly above inflation. In the last twelve months, the average price of new rental contracts accumulated a rise of 52.2%, slightly above inflation (51.8%) and the adjustment of existing contracts signed 12 months ago (50.5%).
On the other hand, The rental offer in CABA has decreased by 10% since 2020 and is 20% less than in 2019. It’s low generates an increase in prices in the rental market above inflation.
32% of the apartments for sale were slowed down in the last 6 months.
In the last 6 months, the price of 32% of the apartments in CABA published in Zonaprop was lowered by a lower value than they had. In 2017, this figure was only 18%, but, since the end of 2018, it has been increasing. The average discount made is currently 8.1%.
Property prices are down 0.6% compared to last month and, so far in 2021, they have accumulated a 7% drop. From the maximum value they had in 2019, the decrease is 15.5%. Well units are the ones that best resist depreciation: they decrease only 3.9% in the year.
Casualties vary in the different neighborhoods of the Autonomous City of Buenos Aires. Nueva Pompeya and Agronomía are those with the highest year-on-year decline with 16.2% and 13.5%. At the other extreme, the neighborhoods bordering Gral. Paz in the west and south of the City show the lowest losses.
How much money does it cost to buy a property in CABA? The average price of a property in CABA is located at $ 2,366 per square meter. For example, the average apartment with two rooms and 50 m2 has a value of $ 123,185. One of 3 rooms and 70 m2 reaches 175,373 dollars.
The price range in CABA also finds its maximum value in Puerto Madero with 5,552 dollars / m2. They are followed by Palermo with 3,053 dollars / m2 and Belgrano with 2,937 dollars / m2. At the other end, the minimum value is in Lugano with 1,143 dollars / m2.
While the sale prices of properties in CABA fall, construction costs once again register a rise: in the last three months they accumulate an increase of 5.7%. In the same period, the sale of apartments decreased 2%. Building today costs 23% less than the 2012-2021 average.
How is real estate profitability behaving in CABA?
The rent / price ratio rises and stands at 3.05% per year. This means that 32.7 years of rental are needed to recoup the initial investment. This value is 27% below what is required in November 2020.
The western area of CABA is the one with the highest average profitability: 3.3% per year. Within the neighborhoods, Lugano and Constitución are those that show the highest rental profitability with 4.3% and 3.6%. At the other end, Retiro and Palermo are the ones with the lowest return with 2.7%.
Source From: Ambito
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