Since the entry into force of DNU 70/2023 in December 2023, the supply of properties for rental housing has grown by 174.95% in the City of Buenos Aires.
The rental contracts in the City of Buenos Aires are agreed upon in a 90% in pesos, according to the latest report of the Statistical Observatory of the Real Estate College. Furthermore, from there it also emerges that the majority remembers for twenty-four months with a quarterly update for him Consumer Price Index (CPI) or the Index for Lease Contracts (ICL) published by the Central Bank (BCRA).
Since the entry into force of DNU 70/2023 in December 2023the supply of properties for rental housing grew by 174.95% in the City of Buenos Aires. Although in September there is a 1.07% decrease in supply compared to the previous month.
More than 95% of the rental supply in CABA are apartments
According to the report, the 95.93% of the offer are apartments due to the urban characteristics of the district. The neighborhoods with the most offer are Palermo, Belgrano, Caballito, Recoleta, Barrio Norte and Puerto Madero which, together, make up 60.40% of the total offer published on the main portals. It should be noted that the six neighborhoods are among the most expensive in the City.
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Furthermore, the value of rentals shows a decrease in real terms. That is to say, the values increased below inflation, which between January and September accumulates an increase of 101.6%. According to the College, contracts show a decrease of 40.4%.
At the same time, it was highlighted that tenants’ counteroffers are “increasingly accepted by owners.”
Profitability
The profitability of rentals for housing was 5.43% for a two-room apartment with a contract started on January 1 in an average area measured in MEP dollars. “We observed a recovery in profitability generated largely by the drop in the exchange rate,” they highlighted.
Source: Ambito
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