For the fifth consecutive month, the cost of accessing housing in the city of Buenos Aires has increased above inflation and has accumulated 114.4% so far this year. Tenant went from needing 2.8 minimum wages in May to 3.1 in July to rent a two-room property, which represents an increase of 10.7% in the financial burden, not including the payment of expenses.
The data belongs to a report prepared by the Metropolitan Studies Center through the report called “Housing Access Monitor”.
Rentals
The The supply of rental properties showed constant growth throughout 2024peaking in June with a cumulative increase of 22%. However, a slight decrease of around 1% was recorded for the first time in July, which may be an indication of a stabilization of supply close to 20,000 units.
In recent monthsPalermo has established itself as the neighborhood with the largest rental offer in the city, concentrating around 30% of the total. Together with Recoleta and Belgrano, they account for more than 50% of the offer, exceeding 10% each. In contrast, the neighborhoods that follow them barely concentrate less than 5% each.
On the other hand, in neighborhoods such as Parque Chas, Villa Santa Rita, Vélez Sarsfield, Villa Lugano and Constitución practically there is no housing available for rent.
In the last two months, the Rental listings in dollars increased by almost 4 percentage pointsbreaking with the downward trend that had been observed since February. In particular for permanent rentals, the increase in dollar-denominated ads was greater (6pp), while the percentage of dollar-denominated ads for temporary rentals remains stable at around 90%.
In contrast, Puerto Madero concentrates 95% of its permanent rental offer in dollars, followed by Retiro and Palermo with percentages close to 60%.
Since February, Temporary rental advertisements have decreased by 17 percentage points, and They no longer predominate in any neighborhood of the city. However, San Telmo continues to be the neighborhood with the highest proportion (41.1%), and together with Almagro, Chacarita and Palermo, they still have more than 30% of their offer in this category.
The southern neighborhoods of the city are characterized by being an area with very low or no incidence of this type of rental.
Rentals: the value of m2
In the last month, the average value per square meter for rent The number of apartments in the last two months increased by 6%. If we look at the last two months, the increase is almost 30%. It is worth noting that June has been consolidated as the month with the highest increase so far this year, with an increase of 13%. During that month, the number of 3 and 4-room apartment listings reached their maximum value, although in July these values were slightly adjusted downwards.
Puerto Madero stands out as the most expensive neighborhood in the city, with a value per square meter exceeding $31,000. It is followed by Monserrat, which has experienced the largest increase in the last month, reaching double its average value.
Source: Ambito
