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Post-DNU rentals: Data from CABA and the suburbs confirm the increase in the supply of apartments - Infobae
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Alquileres post DNU: datos de CABA y el conurbano confirman el aumento de la oferta de departamentos
Un informe sobre el AMBA revela las áreas donde se registraron los mayores incrementos en casas y departamentos, así como las dinámicas actuales en el mercado de compra-venta. Precios, sistemas de ajuste e inflación
www.infobae.com
February 19, 2024
A report on the AMBA reveals the areas where the largest increases in houses and apartments were recorded, as well as the current dynamics in the buying and selling market. Prices, adjustment systems and inflation
By José Luis Cieri
Under the influence of the deregulation of the real estate market and the repeal of the Rental Law through DNU 70/2023, in force since December 29, the first month of 2024 witnessed a notable change in the rental sector in the Metropolitan Area of Buenos Aires (AMBA).
As Infobae announced, the supply of rental properties experienced a notable increase , although prices remain high.
During the course of January, the supply of real estate in the North, South and West areas of Greater Buenos Aires (GBA) increased considerably. The figures reveal increases of 55.4%, 61.6%, and 50.6%, respectively, compared to the previous month.
These data emerge from the analysis developed by the Mercado Libre Inmuebles platform and the University of San Andrés (UDESA) and confirm the trend observed in the real estate market after the deregulatory measures.
Source: Mercado Libre Inmuebles and the University of San Andrés (UDESA)
Paula Margaretic, a researcher at UDESA, told Infobae: “it can be stated that the variations in the supply of housing in the different areas can be explained through the trends observed in each of them. The recovery recorded in the last month, compared to December 2023, turned out to be more significant in GBA South than in GBA West. These findings suggest that the disparities in the increase in housing supply between both areas can be attributed to differences in the magnitude of the decrease in supply previously experienced in each of them.
In Avellaneda, in the south of Greater Buenos Aires, as part of the apartment offering there are more than 150 units available for rent in pesos, a significant contrast to the 60 apartments available just three months ago. In Quilmes, the situation is similar, the offer already exceeds 180 apartments.
Source: Mercado Libre Inmuebles and the University of San Andrés (UDESA)
2-room apartments exceed $140,000 per month and up.
Regarding the rental price in pesos of apartments, they increased by 12.4%, and that of houses by 10.9% month-on-month.
There is a notable increase in the inflation rate during the last two months in contrast to previous periods, which could generate a delay in the adaptation of current property rental prices. “During the analysis of the period between August and November 2023, the differences between the average inflation, which stood at 11.6%, and the average monthly variation in apartment rental prices in the AMBA (in current pesos), which was 7.1%, were not significant. However, when comparing the data corresponding to December 2023 and January 2024, it is found that the average inflation rose to 25.3%, while the average monthly increase in rental prices reached 10.3%, well below inflation,” said Abigail Riquelme , UDESA assistant.
Source: Mercado Libre Inmuebles and the University of San Andrés (UDESA)
By types
When analyzed by type of housing, prices per m2 for renting houses at current prices registered variations of 8.2%, 28.2% and 13% in GBA North, South and West, respectively. The greatest increase was also seen in the southern area where a house in Bernal, for example, exceeds $230,000 per month for three rooms and without a garage.In departments, inter-monthly changes in the price per m2 at current prices of 7.6%, 13%, 13.2% and 10.7% were observed for CABA, GBA North, South and West, respectively.
Source: Mercado Libre Inmuebles and the University of San Andrés (UDESA)
Currently, more than 11,000 apartments are offered in Mercado Libre in CABA, but units in dollars still prevail. A concrete example is seen in Flores, on Avenida Gaona at 3300, where a three-room apartment has a value of $320,000 per month.
“The latest analysis confirms the upward trend in the supply of apartments for rent in CABA, evaluated through the number of publications in Mercado Libre. “The current supply, recorded in January 2024, reached a level that has not been observed since November 2021,” Margaretic highlighted.
Source: Mercado Libre Inmuebles and the University of San Andrés (UDESA)
Buy and sell
Regarding sales, the price per square meter of houses in the AMBA decreased by 3.8% compared to January 2023, while that of apartments fell by 4% in the same period.While in GBA, the year-on-year falls in the price per square meter of houses were -3% in GBA North, -6.1% in GBA South and -1.9% in GBA West. For the departments, the decreases were 1.8% in CABA and 5.7%, 5.4% and 5.6% in GBA North, South and West, respectively.
Source: Mercado Libre Inmuebles and the University of San Andrés (UDESA)
Riquelme noted: “Despite the falls recorded again last January in the sales prices per square meter of houses and apartments in the AMBA, an apparent recovery is observed in the apartment market. When analyzing the year-on-year variations in the sales price of the apartments, it is evident that the decreases in prices, compared to the previous year, are increasingly less significant.”
Source: Mercado Libre Inmuebles and the University of San Andrés (UDESA)
The value per m2 of houses for sale in CABA ranges on average at USD 1,348, while it is USD 821, USD 745 and USD 649, in the North, West and South zones, respectively.
While in apartments the price per m2 in CABA averages USD 2,254, and in GBA North, West and South, it is USD 1,990, USD 1,450 and USD 1,450 per m2.
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