The monthly variation was 0.6% in April, according to data from the latest INE real estate activity indicator.
The rental price continues to rise and during the month of April there was an increase of 6.38% year-on-year, according to the data of the last bulletin of Real Estate Activity Indicators (IAI) produced by the National Statistics Institute (INE), which also reflected a positive monthly variation of 0.6%
Regarding the average price at the national level, the INE estimated it at 18,496 pesos throughout Uruguay, with a peak of 19,234 pesos in Montevideo and a minimum value of 12,183 pesos in Cerro Largo. Thus, the difference between the two is 57.88%, while the capital of the country is 3.84% more expensive than the general average.
When analyzing new contracts, the average price in Montevideo was in 19,253 pesos, 0.1% below the average of current contracts, which was in 19,234 pesos. In addition, in April there were 1,224 contracts in the capital and some 65,659 current contracts, which implies a positive variation of 1.12% year-on-year.
On the other hand, the number of contracts increased by 0.95% year-on-year, with a monthly increase of 0.16%. Meanwhile, the total number of leased units was 84,722, of which the 77.45% belong to Montevideo and 11.63% to cannelloni. Much further back they appear Saint Joseph (1.89%), maldonado (1.61%), paysandu (1.34%) and Cologne (1.23%).
Rental prices remain below inflation
If this data from the INE is compared with the Consumer Price Index (CPI) April, it is observed that the rental values continue below the cost of living. It is that, during that month there was a monthly increase of 0.75% in prices, with which annual inflation had climbed to 7.6%
We will have to see what happens in the next Real Estate Activity Indicators, since inflation fell during May. According to the latest record, the CPI fell to 7.1% year-on-year, even achieving a slight drop of 0.01% in the monthly variation.
Source: Ambito
