Due to mortgage loans, demand for home purchases increased

Due to mortgage loans, demand for home purchases increased
Due to mortgage loans, demand for home purchases increased

Searches for rentals in the metropolitan area of ​​Buenos Aires (AMBA) decreased, going from a 65% in January to 56% in Junewhile in the case of acquisitions, rose significantly, representing 41%. This is due to the appearance of the mortgage creditswhich encourages more and more families to try to buy a home.

In addition, the units for Temporary rentals reached their lowest historical percentage, 2%thus becoming those that receive the least demand.

In Greater Buenos Aires, there was a growth in the search for rentals between the period 2017 – July 2020, although from that same year CABA again had a greater share. In fact, The City currently registers 64% of demandwhile GBA north, 13% and GBA west-south, 22 percent.

Comparison by area

CABA is the area where the demand for rental advertisements is most concentrated, 19% above the AMBA average. In GBA North, the average demand per advertisement ratio is 47% below the average, while in the case of GBA West-South, the demand pressure is 14% above the average.

The latter is the only area of ​​AMBA where searches are increasing. On the contrary, it is falling in GBA north and CABA, according to a report by Grupo QuintoAndar.

Compared to pre-pandemic levels, in May 2024, GBA North received 88% greater demand pressure, while GBA West and South received 54% more and, in contrast, CABA received 16% less.

Greater supply than demand

From the Repeal of the Rental Lawsupply appears to have expanded more than demand, which generates a decrease in demand pressure on advertisements in pesos. Apartments account for 83% of rental searches, while 17% is divided between houses and PHs.

PHs are the scarcest properties for rent in relation to the demand. In GBA north the shortage is maximum and a PH advert receives 2.9 times more visits than an apartment. However, in the year-on-year comparison, in all districts the demand for PHs falls and the demand for houses increases.

In CABA and GBA West and South, a similar preference structure is recorded, with a maximum demand for studio apartments that decreases towards the larger units. This represents a change in GBA West and South, when a year ago the units with the highest demand were those with two rooms. In GBA North, the demand pressure is highest on two-room units.

In the year-on-year comparison, CABA registers greater demand pressure for three- and four-room units, while GBA North presents a decrease in demand for one-room and three-room units.

Source: Ambito

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