Rental contracts governed by the old law of rentals will suffer a new increase in October. For the second time in 51 months, the Rental Contracts Index (ICL) showed a slowdown in the increase, so the increase will be 237.9%. Although it is a considerable number, it is a drop compared to the previous month when the increase was 243.1%. Meanwhile, in July the adjustment was 244.3% and in June 233%.
In this way, a tenant who paid $200,000 a year ago rentwill pay $675,801 in October.
While the data on the slowdown in the Lease Contracts Index (ICL) is encouraging, for the tenants It is still very difficult to cover the rentIt is estimated that currently, this represents at least 45% or more of a salary.
How much does it cost to rent a two-room apartment?
A 40 m2 studio apartment rents for $407,026 per month, a 50 m2 two-room apartment for $485,881 per month, and a 70 m2 three-room apartment for $656,551 per month.
Puerto Madero continues at the top of the ranking of the most expensive neighborhoods to rentwith an average price of $1,019,112 per month. Palermo and Núñez complete the podium, with an average value of $534,806 per month and $537,217 per month, respectively. Lugano, on the other hand, is the most affordable neighborhood to rent, with an average price of $320,165 per month. It is followed by Floresta ($409,994 per month) and Mataderos ($413,039 per month).
Currently, tenants and owners are mostly agreeing on new 24-month contracts, in pesos, with quarterly adjustments using the CPI (Consumer Price Index published by INDEC) or ICL (Index for rental contracts published by the BCRA).
Rental stock grows
Since the entry into force of DNU 70/2023, the offer of rentals increased by 178.78%, according to data from the Buenos Aires Real Estate Association. Meanwhile, the 6 neighborhoods with the highest supply are Palermo, Belgrano, Recoleta, Barrio Norte, Caballito and Puerto Madero. These neighborhoods account for 60.92% of the total supply of rentals.
Source: Ambito
I am Pierce Boyd, a driven and ambitious professional working in the news industry. I have been writing for 24 Hours Worlds for over five years, specializing in sports section coverage. During my tenure at the publication, I have built an impressive portfolio of articles that has earned me a reputation as an experienced journalist and content creator.
