Renting, more and more complicated: a studio in CABA already costs nearly $80,000 per month

Beyond the litigation and the claims of tenants, owners and real estate agents, there is an undeniable coincidence: since the promulgation of the new rental law, in force since July 2020, prices have experienced record increases.

In the city of Buenos Aires, for example, the value of a studio apartment ranges from $78,000 per month. It is estimated that prices for this type of apartment have increased by 122.9% over one year.

This was revealed in a report by the Center for Economic and Social Studies (CESO) Scalabrini Ortiz, which predicted that renting a studio in CABA was 13% more expensive in February compared to the previous month.

The median of offers for 2-room apartments is $85,000 (6.3% more than last January) and $130,000 for 3-room apartments (8.3% more than January ).

In each category, prices vary according to other characteristics (such as age and the presence or not of a garage, for example) and its environment (infrastructure, transport and proximity to shopping centers, among others). These values ​​do not include charges, which average 15.9% of the cost of the offer price of a rental.

Aldana Montanoof CESO, said GlobeLiveMedia that the situation has not changed much in recent months.

“The increases continue and the situation is getting worse: the monthly and interannual percentages exceed the last inflation figure, which showed an interannual price increase of 98.8% according to the consumer price index (CPI) of INDEC. And for now there are no announcements in particular whether the reform of the rental law will be discussed in the National Congress, everything is uncertain.

Over the last twelve months, the offer price for 2-room apartments has increased by 112.5% ​​and by 102.3% for 3-room apartments.

Concern is growing in the sector, because in addition to the increases that have occurred in the rental segment, there is also the great shortage of rental properties. It is as difficult for a tenant to find housing as it is to pay for it.

Until the end of January, there were 5,300 units offered for rent within CABA, today they do not reach 4,700, and most of them are in dollars, which had never happened before.

“It is also unclear whether any regulatory reform would quickly have an impact in favor of increased supply. But it is vital that there is a good debate so that the law is fair for all parties and that unoccupied dwellings are also regulated It would be necessary to promote mechanisms and include incentives in municipal tariffs or that there be a system that encourages used and new houses to be destined for the rental market. Also make options more flexible so tenants have more agile access to rent,” Montano added.

There are also disparities in values ​​depending on the neighborhood and there are even people who rent what they can find when they can no longer renew the contract which has ended or because the owner no longer wants to continue renting the property. and have to move.

For example, on Avenida de la Frontera at 5400, in Villa Lugano, a 2-room apartment can be found for $61,000, “but from the photos you see in the post, it’s not a house in good condition. But there is such a need that this apartment is likely to be rented in 48 hours maximum,” he said. GlobeLiveMedia Gustavo Lovalvoexpert in the real estate market in the west of Buenos Aires.

In Bahía Blanca and Santo Tomé, in the Monte Castro district, a 3-room apartment in a building over 60 years old is offered for $75,000 and the real estate agency selling it calculates that it can be rented in just 24 hours because the rarest houses are those with two or three bedrooms, those sought after by families with one or more children.

The Index of Rental Contracts (ICL), which regulates the discounting of rents under a contract already in force by the Central Bank of the Argentine Republic, shows a year-on-year increase of 85 9% in February and it is estimated to be around 90% in the coming days.

“We don’t know how this problem could be solved, but the truth is that the increases are continuing and there are fewer and fewer owners interested in putting their house on traditional rental. Many have opted for temporary accommodation or prefer to lend their accommodation to an acquaintance or a family member to meet their fixed costs. There are also many people who cannot rent an apartment according to their needs and choose to move away from CABA or to settle where they can, even giving up space and comfort,” Lovalvo concluded. .

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