In regards to the rentals, there was a month-on-month rise in constant pesos per square meter of 3% for apartments and 2.5% for houses. Likewise, an interannual variation of said rental price of houses and apartments of -18.4% and +4%, respectively, is observed.
What is happening in the rental market
Distinguishing between CABA and Greater Buenos Aires (GBA) North, South and West, it is observed month-on-month variations (compared to December 2022) in the price per square meter in dollars of houses of +0.4%, in CABA, of -1.4%, in GBA Norte, of +0.4% in GBA Sur and of – 0.6%, in GBA West.
For his part, in the apartment marketin January 2023, there are variations in the price in dollars per square meter of +1.4% in CABA, +2.5% in GBA Norte, +0.6% in GBA Sur, and -0 .5% in GBA West, relative to December 2022.
Selling price dynamics
The recent evolution of the indicators of sale prices (by square meters and in dollars) would seem to suggest a certain slowdown in the price decline in the apartment for sale market, with the exception of West GBA.
When considering the interannual variations (January 2023 compared to January 2022), there are falls in the price in dollars per square meter of houses of 8% in CABA, 4.5% in GBA Norte, 6.7% in GBA Sur and 8% in GBA West.
For their part, the year-on-year falls in said sale price in the case of departmentsin CABA and GBA North, South and West they were 6%, 3%, 3% and 7.7%, respectively, compared to January 2022.
Distinguishing by AMBA agglomerates, in January 2023, relative to December 2022, the variation in the price of rent in constant pesos per square meter of houses was +6.2% in CABA, +4.1% in North GBA, +3.6% in South GBA and +1.4% in West GBA.
On the other hand, in the case of departments, the intermonthly variation (compared to December 2022) of said price in CABA, GBA North, South and West was +2.2%, +8.4%, +1.6 % and +1%, respectively.
taking the interannual variations (January 2023 with respect to January 2022), there is a variation in the rental price in constant pesos per square meter of houses of -10.8% in CABA, -19.6% in North GBA, +0 .6% in GBA South and -12.3% in GBA West. For their part, year-on-year, said rental prices in the case of apartments registered increases of 12.8%, 13.7% and 3.1% in CABA, GBA Norte and GBA Sur, respectively, while in GBA Oeste registered falls of 4.6%.
Of the aforementioned results, it should be noted that the AMBA agglomerate where the largest year-on-year drop in the rental price in constant pesos per square meter of houses is GBA Norte. Said fall is due to both an increase in the supply of houses for rent of 63.3%, as well as a 30.9% drop in demand for this type of property, comparing in both cases January 2023 with January of 2022.
Another relevant factor is that this market presents a high dollarization (where in January 2023, 87.1% of the advertisements for houses for rent in North GBA are published in dollars).
Exploiting the granularity of the data by neighborhoods of CABA and municipalities of AMBA, it can be seen that the neighborhood of CABA where the highest year-on-year increase in rental price in constant pesos per square meter of apartments was observed was Palermo (50%). On the other hand, considering the municipalities of AMBA (excluding CABA), the greatest interannual variation of said rental price of houses and apartments occurred in La Plata (14.5% and 31.6%, respectively).
The cheapest neighborhood in CABA
In relation to the interannual variations (that is, January 2023 compared to January 2022), in AMBA, variations of -18.4% are observed in the housing market and +4% in the apartment market.
Taking into account the prices by neighborhood, in CABA, the largest year-on-year drop in the sale price in dollars per square meter of houses occurred in Park Villawith a negative variation of 14%.
On the other hand, for departments, the largest drop is observed in Villa Lugano, with a variation of -12.5%. For its part, within GBA (excluding CABA neighborhoods), the municipality that registered the greatest drop in the sale price in dollars per m 2 of houses was La Matanza (-10.5%), in the case of departments, the The biggest drop occurred in Merlo (-10.5%).
In January 2023, the median rental price in constant pesos per square meter (that is, in real terms) in AMBA rose 3% in the case of houses and 2.5% in the case of apartments, with compared to December 2022.
Source: Ambito
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