Which are the most expensive and cheapest neighborhoods to rent in Buenos Aires
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In the month of January 2019, the average rent in the city of Buenos Aires rose by 1.9%. However, over the past year, the increases were 10 points less than inflation leading to poor returns for landlords.
After a year in which they ended with increases below inflation, rents began in 2019 with a rise of 1.9% according to a survey conducted by the property website ZonaProp. “In 2018, rents closed with a rise of 38%, 10 points less than accumulated inflation, while the UVA loan shares were located closer to the inflationary value, with an accumulated 45.4%.
The Zonaprop report
“Currently, a two-room apartment in the City has an average value of $ 13,649, for a three-room, the average is $ 19,109. The neighborhoods with the highest increase were Puerto Madero, San Cristóbal and Chacarita, with increases above 47% in the last 12 months, “said Federico Barni, executive director of Navent, the company that owns ZonaProp.
The document also indicates that the average real estate profitability of the city is 3.3% gross annual, with a repayment period of 30 years. Monserrat, Constitución and San Cristóbal were the best neighborhoods for investors seeking better yields.
According to the survey, 80% of the neighborhoods of the City of Buenos Aires have an average rent value that is between $ 12,700 and $ 14,800 per month. “There are very few neighborhoods where you can find rentals for less than $ 12,000,” says the survey. If you take as a reference a two-room apartment, at the top end, is Puerto Madero, with average rentals of $ 23,345, followed by Las Cañitas with $ 17,526, and Palermo with $ 17,077.
Meanwhile, Villa Urquiza, with an average of $ 14,553, Almagro ($ 14,042), San Nicolás ($ 13,650), Abasto ($ 13,140) and Boedo ($ 12,762), are in the middle price range.
Finally, the most economical neighborhoods of the City are Liniers ($ 11,552), Floresta ($ 11,473) and Constitución ($ 10,117).
Source: La Cronista (translated)
Note: prices quoted are in Argentine Pesos. ( currently around 38 to 1 USD.
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