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The supply of 1 bedroom apartments skyrocketed to its highest in a decade - Infobae
Source:
Se disparó la oferta de departamentos de dos ambientes a su máximo en una década
Así lo confirmó un informe privado que detectó un notable aumento en las publicaciones de alquiler tras la caída de la Ley que regía el sector. Ahora hay casi 11.300 propuestas en uno de los portales especializados
www.infobae.com
March 5, 2024
This was confirmed by a private report that detected a notable increase in rental publications after the fall of the Law that governed the sector. Now there are almost 11,300 proposals on one of the specialized portals
By José Luis Cieri
Now the offer has grown like it has not happened in a long time in the city of Buenos Aires. There are proposals in all neighborhoods (Illustrative Image Infobae)
With the publication of almost 11,300 apartments on a specialized portal, a notable increase in supply is confirmed two months after the repeal of the Rental Law through the DNU promoted by the Government. According to a private report, the city of Buenos Aires is experiencing notable progress in proposals, reaching record levels.
The year-on-year increase of 244% in one-room apartments and 242% in two-room apartments stands out, comparing the first week of March 2023 with the current one.
According to Maure Inmobiliaria, who prepared the report based on data from Zonaprop, the DNU effect generated a record in the supply of two-room apartments for rent in CABA. The owner of the company, Soledad Balayan , highlighted to Infobae: “At least since my registration, and from the first week of March from 2013 to 2024.”
Currently, the supply of properties extends throughout all neighborhoods, an unusual situation three months ago when shortages predominated in all sectors of the city. Now it is possible to find two and three room units even in areas such as Villa Riachuelo and Agronomía.
Small units made the big leap
According to the analysis of the interannual variation in rental notices by room, a notable growth is observed in proposals for studio apartments and two rooms.
Balayan explained: “The smallest homes are the most in demand, and consequently, the ones preferred by investors. With the repeal of the Rental Law, which made them less attractive in terms of profitability, they are now experiencing a resurgence in the rental offer due to greater flexibility in contracts.”
Argenprop, another specialized portal, reports that until last February, the supply of apartments in CABA experienced an increase of 304.13% year-on-year.
It tripled: in February 2023, 2,300 apartments were registered, while in the same month of this year 6,995 units were published.
What happens with larger homes?
According to Zonaprop data, the supply of three-room apartments experienced an increase of 115%, while four-room apartments grew by 35% year-on-year.Mariana Lucángeli , a Real Estate expert, highlighted that there are now homes for families with one or more children, reversing the critical situation of last October, “when there were less than 60 three-room apartments and less than 20 four-room apartments, a situation unprecedented in real estate history.”
In the last twelve months, rental values registered an increase of 286.7%, with a monthly average of $568,314 for a three-room apartment (data from Zonaprop).
Studio apartments, on average, reach $354,568 per month. Lucángeli pointed out: “There is a high demand from students who come to study in various faculties located in CABA, and generally, rental agreements are made for a period of one year, a possibility provided by the new contract format. through the DNU.”
According to the Statistical Observatory of the Real Estate Sector of the Buenos Aires Real Estate Professional Association, supply grew by 68% in January, after the implementation of the DNU. From the entity, they report that the supply of properties for housing rental is in a process of rapid recovery.
Particularity
According to Balayan's analysis of advertisements in Zonaprop, the year-on-year variation of advertisements by real estate agencies experienced a growth of 117%, while through the “Direct owner” option a significant increase of 296% year-on-year was recorded.
Studio apartments are the ones that grew the most among the rental offer in CABA
This phenomenon can be attributed to the preference of a considerable group of owners to establish direct agreements with tenants, thus avoiding the intermediation of real estate agencies to avoid paying commissions in CABA.
Those who did not recover
Apartments with 5 rooms or more, which are mainly in the high-end real estate market, do not show signs of recovery.
According to the Maure Inmobiliaria report, they fell 17% year-on-year, which is why supply decreased compared to March 2023.
By seniority
In the current rental offer in CABA, a significant interannual variation is observed depending on the age of the apartments. The data reveals that “brand new” apartments registered an increase of 100%, followed by an increase of 112% for those up to 5 years old.
“Likewise, properties up to 10 years old registered a growth of 132%, while those up to 20 years old and up to 50 years old showed increases of 135% and 145%, respectively. On the other hand, departments with more than 50 years old also showed an increase of 119%; These data suggest a varied dynamic in the rental supply, with different growth rates depending on the age of the properties,” Balayan concluded.
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