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Sky-high rents: a two-bedroom apartment in CABA costs no less than $450,000 a month, despite the increased supply - Infobae
Source:
www.infobae.com
September 03, 2024
Ideal for families or those who need a workspace at home, these homes maintain high prices. Despite the slowdown in increases, renting remains a challenge for the average worker.
By Jose Luis Cieri
Two-bedroom apartments, after one-bedroom apartments, are among the most sought-after for rent in CABA
Although the supply of apartments expanded by nearly 180% after the repeal of the Rental Law in the city of Buenos Aires, the rental prices for two-bedroom apartments show significant variations depending on factors such as size, presence of amenities and the state of conservation of the property, among other aspects.
Currently, rental prices for two-bedroom apartments in CABA do not fall below $450,000 per month and can reach up to $810,000 in the most exclusive areas. This situation represents a considerable economic challenge for hundreds of tenants and employees who have not yet recovered their income above the accumulated inflation (which is only now slowing down).
Vanesa Ibarra , from Salguero Properties, said that prices can range between $550,000 and $800,000 per month, in areas such as Palermo, Colegiales and Villa Crespo. “The most expensive ones tend to be in buildings with amenities or close to avenues and service areas. And the cheapest ones are the smallest, which are less than 65 square meters.”
It is important to note that high expenses ( they increased by 101.6% in the year ) can influence the final cost of the rental, since they are usually offset by adjustments in the agreed price.
Meanwhile, in the neighborhoods of Villa del Parque and Villa Santa Rita, prices for this type of units range between $450,000 and $700,000, reported Román Andrés Paikin , of San Román Propiedades.
“During 2024, rental prices increased at a rate lower than general inflation (estimated at 40% less). At the end of last year, the supply of properties was practically non-existent, but after the repeal of the Rental Law, it increased and although one-room and one-bedroom apartments predominate, two-bedroom apartments can be found in different neighborhoods of CABA,” he added.
“This segment of tenants often faces the requirement to prove income that triples the value of the rent, and surety bonds are preferred over traditional property guarantees,” Ibarra said.
A change in the current dynamics of entering into new post-DNU agreements is that for contracts, especially those intended for three or more people, owners are requesting to include a clause that obliges tenants to return the apartments in the same conditions in which they were received.
Ibarra added: “This includes specific requirements such as delivering properties freshly painted and with laminated floors, where appropriate.”
Paikin pointed out: “Between Villa del Parque and Villa Santa Rita, there are no rental contracts denominated in dollars. However, it is preferable that the security deposit be recorded in dollars to protect it from depreciation and ensure its full value when it is returned to the tenant at the end of the contract, something that was previously prohibited by law. In terms of guarantees, the traditional owner's guarantee is still used, or else rental insurance.”
In addition, in terms of viewing options, the real estate market agrees on the need for in-person viewings as an essential requirement for reserving the apartment.
“They are now mandatory, highlighting that reservations are not considered unless the interested party has previously visited the property,” Ibarra clarified.
In the current context, tenants have a wider range of options and can pre-select properties through real estate search portals that offer complete data, quality photos, floor plans and videos, including 360º virtual tours where possible.
Paikin commented: “There is no longer such a thing as renting without going to see the property, as was the case last year due to the lack of supply. Today, on the contrary, prospective tenants visit several properties before deciding on one, thanks to the varied supply on the current market.”
Apartment visits are in person, with efficient pre-selection through real estate portals. This allows filtering and coordinating visits to properties of interest. It is essential that the advertisements include complete details, high-quality photos, floor plans, videos and, if possible, 360° virtual tours to attract more attention.
Regarding the time on the market, Ibarra mentioned that two-bedroom rentals usually take between three and five weeks to complete, while Paikin observes an average of 30 days to rent these properties as long as they are in good condition and at a fair price.
Nuñez: $804,500
Belgrano: $787,900
Palermo: $751,800
Saavedra: $735,800
Villa Ortuzar: $733,700
Colegiales: $732,900
Chacarita: $724,200
Villa Pueyrredon: $723,400
Villa Urquiza: $721,000
Recoleta: $719,600
Villa Devoto: $704,500
Chacabuco Park: $692,800
Retiro: $685,900
Caballito: $675,800
San Telmo: $675,500
Villa Crespo: $660,500
Almagro: $658,600
Villa Del Parque: $654,200
Barracas: $643,600
San Cristobal: $636,200
Boedo: $635,300
La Boca: $633,400
Liniers: $626,200
Santa Rita: $623,100
Villa Luro: $616,800
Montserrat: $581,600
San Nicolas: $576,800
Flores: $575,700
Velez Sarsfield: $570,100
Balvanera: $563,900
Floresta: $560,800
Constitucion: $537,200
Lugano: $450,400
www.buysellba.com
Source:
Alquileres por las nubes: un departamento de 3 ambientes en CABA no baja de los $450.000 mensuales, pese a la mayor oferta
Ideales para familias o para quienes necesitan un espacio de trabajo en casa, estas viviendas mantienen precios elevados. A pesar de la desaceleración en los incrementos, alquilar sigue siendo un desafío para el trabajador promedio
www.infobae.com
September 03, 2024
Ideal for families or those who need a workspace at home, these homes maintain high prices. Despite the slowdown in increases, renting remains a challenge for the average worker.
By Jose Luis Cieri
Two-bedroom apartments, after one-bedroom apartments, are among the most sought-after for rent in CABA
Although the supply of apartments expanded by nearly 180% after the repeal of the Rental Law in the city of Buenos Aires, the rental prices for two-bedroom apartments show significant variations depending on factors such as size, presence of amenities and the state of conservation of the property, among other aspects.
Currently, rental prices for two-bedroom apartments in CABA do not fall below $450,000 per month and can reach up to $810,000 in the most exclusive areas. This situation represents a considerable economic challenge for hundreds of tenants and employees who have not yet recovered their income above the accumulated inflation (which is only now slowing down).
Vanesa Ibarra , from Salguero Properties, said that prices can range between $550,000 and $800,000 per month, in areas such as Palermo, Colegiales and Villa Crespo. “The most expensive ones tend to be in buildings with amenities or close to avenues and service areas. And the cheapest ones are the smallest, which are less than 65 square meters.”
It is important to note that high expenses ( they increased by 101.6% in the year ) can influence the final cost of the rental, since they are usually offset by adjustments in the agreed price.
Meanwhile, in the neighborhoods of Villa del Parque and Villa Santa Rita, prices for this type of units range between $450,000 and $700,000, reported Román Andrés Paikin , of San Román Propiedades.
“During 2024, rental prices increased at a rate lower than general inflation (estimated at 40% less). At the end of last year, the supply of properties was practically non-existent, but after the repeal of the Rental Law, it increased and although one-room and one-bedroom apartments predominate, two-bedroom apartments can be found in different neighborhoods of CABA,” he added.
Profiles and new dynamics
Two tenant profiles emerge from the search for two-bedroom apartments: small family groups of three people looking for more affordable alternatives due to high rent renewals, and groups of friends, siblings or cousins, usually students and workers, who decide to move in together to share costs.“This segment of tenants often faces the requirement to prove income that triples the value of the rent, and surety bonds are preferred over traditional property guarantees,” Ibarra said.
A change in the current dynamics of entering into new post-DNU agreements is that for contracts, especially those intended for three or more people, owners are requesting to include a clause that obliges tenants to return the apartments in the same conditions in which they were received.
Ibarra added: “This includes specific requirements such as delivering properties freshly painted and with laminated floors, where appropriate.”
Settings and how long it takes to rent
The duration of the contracts also varies, with a tendency towards 24-month agreements and quarterly or four-monthly adjustments based on the Consumer Price Index (CPI) or the Lease Agreement Index (ICL).Paikin pointed out: “Between Villa del Parque and Villa Santa Rita, there are no rental contracts denominated in dollars. However, it is preferable that the security deposit be recorded in dollars to protect it from depreciation and ensure its full value when it is returned to the tenant at the end of the contract, something that was previously prohibited by law. In terms of guarantees, the traditional owner's guarantee is still used, or else rental insurance.”
In addition, in terms of viewing options, the real estate market agrees on the need for in-person viewings as an essential requirement for reserving the apartment.
“They are now mandatory, highlighting that reservations are not considered unless the interested party has previously visited the property,” Ibarra clarified.
In the current context, tenants have a wider range of options and can pre-select properties through real estate search portals that offer complete data, quality photos, floor plans and videos, including 360º virtual tours where possible.
Paikin commented: “There is no longer such a thing as renting without going to see the property, as was the case last year due to the lack of supply. Today, on the contrary, prospective tenants visit several properties before deciding on one, thanks to the varied supply on the current market.”
Apartment visits are in person, with efficient pre-selection through real estate portals. This allows filtering and coordinating visits to properties of interest. It is essential that the advertisements include complete details, high-quality photos, floor plans, videos and, if possible, 360° virtual tours to attract more attention.
Regarding the time on the market, Ibarra mentioned that two-bedroom rentals usually take between three and five weeks to complete, while Paikin observes an average of 30 days to rent these properties as long as they are in good condition and at a fair price.
Values
Below are the average prices in the neighborhoods available in CABA for two-bedroom units of more than 73 m2 according to data from Zonaprop:Nuñez: $804,500
Belgrano: $787,900
Palermo: $751,800
Saavedra: $735,800
Villa Ortuzar: $733,700
Colegiales: $732,900
Chacarita: $724,200
Villa Pueyrredon: $723,400
Villa Urquiza: $721,000
Recoleta: $719,600
Villa Devoto: $704,500
Chacabuco Park: $692,800
Retiro: $685,900
Caballito: $675,800
San Telmo: $675,500
Villa Crespo: $660,500
Almagro: $658,600
Villa Del Parque: $654,200
Barracas: $643,600
San Cristobal: $636,200
Boedo: $635,300
La Boca: $633,400
Liniers: $626,200
Santa Rita: $623,100
Villa Luro: $616,800
Montserrat: $581,600
San Nicolas: $576,800
Flores: $575,700
Velez Sarsfield: $570,100
Balvanera: $563,900
Floresta: $560,800
Constitucion: $537,200
Lugano: $450,400
www.buysellba.com
