The market of rentals changed a lot this year, especially in relation to the available stock. Since the law of rentalsthe supply of properties grew exponentially and those published in dollars decreased slightly.
At the moment, 51% of the rental offer for two-room apartments in the City of Buenos Aires is in dollarswhile the remaining 49% is in pesos, according to an analysis by Zonaprop.
In August 2023, 66% of the apartments were listed in dollarswhile the supply in pesos represented only 34%. This indicator began to decrease, reaching 50% in November of the same year and has remained stable since then.
While in the first two months of 2024 the majority of apartments were listed in dollars, between March and June the offer in pesos had an upward trend. However, despite the fact that a balance was reached in July, in August there was a slight increase in the offer in dollars.
How much does a rental cost in CABA?
The average price of ads in dollars to rent a two-room apartment in CABA is US$586. This value has decreased by 6% since August of last year.
Puerto Madero remains in the ranking of the most expensive neighborhoods for rent for more than two years. A two-room apartment is rented for US$1,393 per month. Palermo is the second neighborhood with the highest supply in dollars, since an apartment costs on average US$834 per month. Colegiales completes the podium, with an average price of US$812 per month.
On the other hand, Villa Ortúzar is the neighborhood with the cheapest offer (US$529 per month). It is followed by Balvanera, with an average value of US$537 per month and Caballito, with an average price of US$593 per month.
Year-on-year change: which neighbourhood has seen the greatest increase over the last 12 months?
Colegiales is the neighborhood of the City of Buenos Aires which presents the largest increase in the average price, with a year-on-year variation of 6.63%. In August 2023, the rent A two-room apartment was priced at $762 per month and today costs $812 per month.
On the other hand, 88% of the neighborhoods register a drop in average rental prices in dollars. San Telmo presents a 20% drop in prices year-on-year and an apartment is rented for US$702 per month. It is followed by San Nicolás, with an average price of US$594 per month, 19% less than a year ago, and Balvanera, with an average price of US$537 per month, 18% less than the same month in 2023.
In contrast, Puerto Madero is the neighborhood that maintains a relatively stable average price. In August, a two-room apartment in this neighborhood is priced at US$1,393 per month, just 0.81% more than in the same month in 2023.
Source: Ambito
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