He rental prices in the City of Buenos Aires registered an increase of 28.5% during the first four months of the year, nearly 40 points below inflation, according to private data. The figures arise from a survey carried out by Zonaprop, a portal dedicated to the real estate business.
This result occurred after the value of the locations suffered an increase of 1.9% in April, against a projected cost of living of at least 8%.
This decrease is the result of the repeal of the Rental Law through DNU 70/2023, which freed the price of rentals throughout the country from the law of supply and demand.
The report highlighted that the rental supply showed an increase of 14.1% in April, in the same vein as previous months.
The new legal scenario motivated owners to offer their properties again and the increase in the number of units available forced the rental value to drop.
The average rental price of a two-room apartment in the City of Buenos Aires is $430,022, which means an increase of 1.9% compared to March.
The neighborhoods with the highest prices are those in the northern corridor, which include Palermo, Belgrano, Recoleta, Coghlan, Colegiales, Núñez, with prices ranging from $465,000 to $490,000. Puerto Madero breaks this rule with demands exceeding one million pesos per month. In the southern part of the city, prices have a ceiling of $300,000.
Rental prices in CABA by neighborhood
The following are the average rental values in CABA, with their interannual variation:
- Agronomy: average rent $421,455 – annual variation 306.04%
- Chacarita average rent $457,166 – annual variation 214.39%
- Coghlan: average rent $465,246 – annual variation 238.61%
- Parental: average rent $435,458 – annual variation 278.56%
- Parque Chas: average rent $443,717 – annual variation 197.66%
- Saavedra: average rent $448,138 – annual variation 198.50%
- Villa Crespo: average rent $447,732 – annual variation 237.85%
- Villa Ortuzar: average rent $433,572 – annual variation 205.52%
- Villa Urquiza: average rent $455,727 – annual variation 223.47%
- Belgrano: average rent $472,247 – annual variation 210.48%
- Schoolchildren: average rent $481,285 – annual variation 234.74%
- Núñez: average rent $477,815 – annual variation 229.90%
- Palermo: average rent $498,738 – annual variation 202.15%
- Recoleta: average rent $468,682 – annual variation 220.87%
- Average rental withdrawal $440,433 – annual variation 227.63%
- Almagro: average rent $430,774 – annual variation 221.02%
- Balvanera: average rent $395,434 – annual variation 250.73%
- Caballito: average rent $418,373 – annual variation 244.17%
- Flores: average rent $375,260 – annual variation 259.34%
- Chacabuco Park: average rent $384,798 – annual variation 236.31%
- Constitution: average rent $383,093 – annual variation 242.87%
- Monserrat: average rent $388,430 – annual variation 249.51%
- Puerto Madero: average rent $1,008,559
- San Nicolás: average rent $393,997 – annual variation 264.62%
- San Telmo: average rent $412,453 – annual variation 262.33%
- Monte Castro: average rent $369,425 – annual variation 212.95%
- Villa del Parque: average rent $400,137 – annual variation 241.43%
- Villa Devoto: average rent $412,099 – annual variation 261.96%
- Villa Gral Miter: average rent $372,806 – annual variation 204.32%
- Villa Pueyrredon: average rent $431,965 – annual variation 252.29%
- Santa Rita: average rent $380,096 – annual variation 207.99%
- Floresta: average rent $352,340 – annual variation 228.15%
- Liniers: average rent $351,574 – annual variation 254.17%
- Slaughterhouses: average rent $336,108 – annual variation 242.96%
- Parque Avellaneda: average rent $372,056 – annual variation 242.87%
- Velez Sarsfield: average rent $377,996 – annual variation 242.25%
- Villa Luro: average rent $395,989 – annual variation 252.60%
- Lugano: average rent $284,302 – annual variation 262.50%
- Barracas: average rent $373,885 – annual variation 245.17%
- Boedo: average rent $394,921 – annual variation 179.60%
- La Boca: average rent $345,382 – annual variation 231.74%
- Patricios Park: average rent $365,098 – annual variation 221.50%
- San Cristóbal: average rent $397,153 – annual variation 194.29%
More rental offers in CABA
The rental offer in the Autonomous City of Buenos Aires (CABA) increased 316% between December and March, with an average value of $300,000 for a two-room apartment. This was estimated by Javier Rozados, director of the specialized portal Reporte Inmobiliario.
“There is good news: the supply of rentals has increased since December, which had almost disappeared due to the law that became void with DNU 70/2023. Thus, in March of this year compared to December, the number of apartments offered in pesos it went from 550 to around 2,300, which represents a growth of 316%,” explained the specialist.
And he added that from this DNU “the rules of the game become more transparent. Now, in general, what is being agreed in the contracts is to adjust the price every three months.”
In statements to FM Rock and Pop, Rozados also indicated that the supply in dollars “does not grow at the same rate as it did before, because a large part of these properties had migrated to temporary rentals. And also with the law that type of supply had disappeared, because it was prohibited.”
According to him, “the only way to access housing at this time is to rent, because the incipient offer of mortgage loans that are appearing is still to be consolidated.”
Source: Ambito
