A real estate market report in the City of Buenos Airescarried out by Housing Access Monitor of the Center for Metropolitan Studies (CEM)revealed that the offer of permanent rentals in the capital grew by 5.2% during the month of November, recovering from 6.5% drop in October . On the other hand, the same study recorded a decrease in the number of publications made in dollars.
The analysis data revealed that, in recent months, permanent rental publications had sustained growth, to the detriment of temporary ones. Despite this, the presence of platforms temporary lease continues to exceed, in many areas, to the offer of contracts to long term.
A study revealed that the rental supply grew in November
As detailed by the CEM, in November – for the first time – there was an increase in the rental supply although numerous advertisements (approximately 12%) They do not specify whether they correspond to permanent or temporary contracts, which could be linked to the repeal of the rental law. However, this respects a trend made visible by the monitoring entity, which observed a sustained growth in the number of publications for permanent rental, to the detriment of temporary ones.
But in addition, there was also a sustained drop in advertisements in dollars during recent months: for the first time publications in dollars They broke the 50% barrier standing at 46.2% overall. Among the main reasons, the CEM explains that this may be due to the support of the value of the dollar, making it less attractive for owners to offer a home in the US currency.
The presence of rental platforms
The existence of platforms and websites such as Airbnb generate a scenario where the availability for tourist rentals exceeds, in many cases, that of permanent rental. This reflects the strong pressure exerted by the real estate market in different areas of the city, characterized by a largest offer availablebut economically inaccessible.
This dynamic is linked to the market profitability: during periods of high tourist season, the Airbnb offer increases significantly, directly affecting the availability of permanent rentals. In turn, these areas present less stability in both supply and priceswith dollarized advertisements that fluctuate according to the conditions that the market is offering during said season.
The study reveals that, in this scenario, Airbnb presented the highest occupancy values in November so far this year, with a total of 74.6%. In addition, a recovery in the value of the average rate of $54 was generated.
This generated an even greater distance between the monthly profits generated by a tourist rental and those obtained from a permanent rental, deepening the disparity between both types of rental.
Rentals: contracts will increase 190% in January
The contracts of rent that are still governed under the old law of rentals will increase again in January. This time, tenants will have to face increases of 190.69%.
The data shows that the index of rental contracts has been slowing down in recent months. In December, the increase was 208.67%, in November 227.3%, in October 238% and in September 243.1%.
These increases are calculated based on the index carried out by the Central Bank, which takes into account the variation in inflation (according to the INDEC CPI) and salaries, according to the average remuneration of stable workers (RIPTE).
Source: Ambito
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