The three environments rose 179.6% year-on-year in Greater Buenos Aires. Contracts in pesos and updated by CPI are the most chosen for rentals
The prices of the rentals They continue to rise and despite the increase in stock there are few “cheap” options. The two-room apartments increased 191.6% on average during the last year in Greater Buenos Aires, according to data from the Real Estate Report. Meanwhile, the three environments rose one step less since they increased 179.6%.
The increase rates were once again lower than those of the previous quarter, which had reached 247.5% and 220.8% year-on-year increases respectively.
Prices for three rooms in Vicente López reach $1,200,000
He rent of the offer of standard used apartments without “amenities”, costs on average $601,300 for units of three environmentswhile one-bedroom apartments reached an average of $435,500 at the end of September. These data were taken comparing both the northern, southern and western areas of the GBA.
According to Real Estate Report, a three-bedroom in Vicente López ranges between $660,000 and $1,200,000, in Olivos the options range from $550,000 to $1,000,000, in Martinez $580,000 to $1,100,000, in San Isidro $550,000 to $1,100,000 and in Tiger $500,000 to $850,000.
Properties Department
The increase figures for used apartments in the main towns of Greater Buenos Aires are shown in line with what the City of Buenos Aires has been showing, where two-room apartments exceeded the 184.5% increase in the last 12 months and the three environments 174.2%.
After the repeal of the law of rentals The scenario changed radically: there is more supply of estate to rent, free contracts between the parties and the vast majority agreed in pesos. With the dollar stable and inflation falling, owners prefer to rent in pesos with a quarterly update index by CPI
Real estate profitability rises
In the northern area of Greater Buenos Aires, the rent/price ratio rose and is now at 4.30% annually. Currently it takes 23.2 years of rent to repay the initial investment, 26% less than a year ago. The areas with the highest profitability are Belén de Escobar (6.2%), San Andrés (6%) and San Miguel (5.8%). On the contrary, La Lucila and Vicente López are the ones with the lowest return, with 3.5% each.
Tenants, with difficulties in paying the rent
According to a recent report by the Civil Association for Equality and Justice (ACIJ), almost 40% of tenants allocate more than half of their income to paying rent (six percentage points more than last year). In addition, 60% are behind with the payment of basic household services.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
