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Neighborhood by neighborhood: How much does it cost to rent a 2-bedroom apartment in the City of Buenos Aires - Infobae
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Barrio por barrio: cuánto cuesta alquilar un departamento de 3 ambientes en la Ciudad de Buenos Aires
Desde la implementación del DNU, la oferta de alquileres de tres ambientes experimentó un aumento del 160%; cuáles son los departamentos más caros y cuáles son los métodos de ajuste predominantes en los nuevos contratos
www.infobae.com
April 10, 2024
Since the implementation of the DNU, the supply of two-bedroom rentals experienced an increase of 160%; which are the most expensive departments and which are the predominant adjustment methods in new contracts
By José Luis Cieri
Two-bedroom apartments are in high demand by families and professionals in the city of Buenos Aires
The impact of the DNU, which repealed the Rental Law, generated a positive effect on the supply of apartments in the city of Buenos Aires. Week after week, the number of apartments for rent experiences constant growth, leading owners to return to the traditional rental market. On some specialized portals, up to 13,000 available units are already being registered, reflecting a significant change in the dynamics of the real estate market.
The supply in the two-bedroom apartment segment registered a growth of 160% from the end of the year to date, but prices for new contracts continue to be high. The cheapest average $440,000 per month, representing a real challenge for the family budget of tenants, who must face housing expenses.
According to Leandro Molina , country manager of Grupo QuintoAndar (owner of Zonaprop) for Argentina and Peru, he told Infobae that “during January there was an increase in supply of 66%; This trend continued in February, with an increase of 20%, and in March it continued with an increase of 15%.”
Two-bedroom homes are highly sought after by middle-class families, especially those with one or two children, who are looking for spaces with two bedrooms.
“Demand continues to increase, driven by families and professionals who require a greater number of rooms or who use a bedroom to transform it into a space for teleworking. And during March, a notable number of rental contracts were signed by university students from both the interior of the country and from different places abroad who on certain occasions chose a three-room apartment to share between two or three students," explained Alejandro Schiaffino , from Schiaffino Real Estate Services.
Prices with lower increases
During the last few months the real estate market has gone through a significant change in its trends.
If the two-bedrooms have their own balcony or terrace, they rent even faster.
Molina added: “With the increase in the supply of rental properties, prices tend to decrease due to the balance between supply and demand. However, as long as inflation persists, prices will continue to rise. In March, a monthly increase of 1.3% in housing rental prices was observed, although a slowdown was recorded compared to the strong increases in December and January.”
In the available offer of three environments, it is observed that approximately 50% of the properties are maintained in dollars, with proposals for contracts lasting 12 months in several cases when they are made in foreign currency.
Schiaffino highlighted that “after the modifications to the DNU contract, the parties are free to agree on the terms and currency. In general, agreements in pesos are being made under two-year contracts with quarterly adjustments based on the Consumer Price Index (CPI). “This was especially relevant for couples and college students looking for stability and predictability in their rentals.”
Despite the increase in rental prices driven by inflation, a trend towards equilibrium is observed thanks to the increase in the supply of units on the market.
Surprise neighborhood
Palermo, except for Puerto Madero where all prices are in dollars, is the most expensive in CABA with prices in pesos. The surprise is Chacarita , which is in fifth place in the ranking.
The gastronomic scene and good transport connection place Chacarita as one of the neighborhoods with the most demand for renting within CABA
This neighborhood was positioned as highly valued in the rental market, mainly due to its transportation network that includes subway, train and numerous bus lines. Its proximity to Palermo, along with the presence of Los Andes Park, make it a highly desired location for families.
In addition, the Newbery circuit offers a wide gastronomic and cultural offer. The revitalization of the offer in the area, especially between Jorge Newbery, Córdoba and Corrientes avenues, is evident, with the appearance of vermouth shops , craft breweries and signature cuisine restaurants. That also drives a young demand to rent in Chacarita.
How much does it cost to rent
Below are the values of two-bedroom apartments for units of 73.5 sq. mtrs in the neighborhoods where there is currently availability:Palermo: $801,400.
Nuñez: $770,200.
Coghlan: $744,700.
Belgrano: $737,700.
Chacarita: $733,600.
Villa Urquiza: $712,000.
Recoleta: $691,300.
Colegiales: $680,700.
Retiro: $650,700.
Saavedra: $624,600.
Villa Pueyrredón: $616,800.
Villa Crespo: $594,500.
Caballito: $574,300.
Villa Devoto: $571,400.
Almagro: $568,700.
Villa del Parque: $554,400.
Boedo: $553,700.
Montserrat: $542,900.
Parque Chacabuco: $541,100.
Parque Patricios: $527,500.
Santa Rita: $526,000.
San Telmo: $504,900.
Villa Gral Miter: $504,100.
Balvanera: $503,000.
San Cristóbal: $500,800.
San Nicolás: $493,500.
Flores: $486,400.
Monte Castro: $484,300.
Floresta: $464,400.
Mataderos: $463,000.
Liniers: $460,000.
Barracas: $453,100.
Constitution: $440,500.
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