Neighborhood and network effects: how much does it cost to rent homes near the subway in Buenos Aires neighborhoods and who prefers that option

The Subway in the city of Buenos Aires is one of the most important mobility systems used by the inhabitants of the Buenos Aires district. According to figures from the City Government, the medium is used by more than 1,500,000 people every day, for this reason it is essential for many people to live in properties located in the vicinity of the 82 stations of the subway network.

An analysis by Properati detected that the highest average rent is registered in the surroundings of the Retiro station, in the neighborhood of the same name. Neighboring apartments to this stop on the E line cost approximately $399,129 per month. Line E ends in this exclusive financial and residential sector of the city, where you can also access the city’s main Bus Terminal and three train stations.

The investigation was made based on publications of houses of 1, 2, 3 and 4 environments until last March. And the average values ​​in each zone were fixed.

Ricardo Meneses Floresfrom Properati for Latin America, told infobae that the focus of this research was to understand the influence on the prices of nearby homes (500 meters around) to each subway station. “The highest rental prices are concentrated in the north and east of CABA. That is, in Puerto Madero, Núñez, Belgrano or Retiro. Through the work it was possible to specify that the departments adjacent to the accesses to the Subway in Retiro have a central and privileged location, and not only for public transport. The surrounding blocks with the stations between Avenida 9 de Julio and Plaza General San Martín (where the iconic Kavanagh building is located) is a high-value tourism sector that benefits from its proximity to attractive points in the city such as Puerto Madero or Palermo. ”, he explained.

On line C of the same station (Retiro), living near the accesses to underground transportation costs approximately $393,100 in monthly rent. The San Martín station, located on the same line and in the same neighborhood, completes the podium, reaching $287,000 per month.

On the contrary, the lowest cost of living near the Subway is found around the Lima station, on line A, with $79,046 per month; This trend is repeated in nearby homes with the stations Venezuela and Inclán-Mezquita Al Ahmad on line H, and Pasteur-Amia and Uruguay on line B, where rents do not exceed $90,000, on average.

“The analysis shows that at least in 7 neighboring sectors with Subway stations, there is an average rent that does not exceed 90,000 pesos. This happens in mouths located in Monserrat, Balvanera, Parque Patricios and San Cristóbal. The influence of the Subway reflects only a part of what happens in the rental market in these neighborhoods. There is a permanent interest in living in these places, where the main avenues, where the stations are, are the most commercial,” Meneses Flores said.

To measure the impact of the proximity of the Subway on the value of the monthly rent, the study started by averaging the rent of the apartments in the nearby radius (500 meters) and comparing it with the value of the neighboring neighborhoods at each station. Living a few steps from the Congreso de Tucumán station (line D) means paying $143,707 per month, 47% less than the average for nearby neighborhoods (Belgrano and Núñez).

The same phenomenon occurs in other stations on line D, such as Tribunales-Teatro Colón, Plaza Italia, Agüero and Lavalle, where living near the Subway is between 34% and 43% cheaper than living in one of the neighboring neighborhoods station.

On the contrary, the rent for an apartment around the Subway increases with respect to the neighboring neighborhoods more strongly in the vicinity of Plaza de Mayo, on line A. Living in the closest blocks to this stop costs $275,313, that is, 70 % more than the average price of Monserrat, San Nicolás and Puerto Madero.

For its part, the increase in rent compared to neighboring neighborhoods reached 48% in Callao (line D) and 38% in Leandro N. Alem (line D); rent is $194,000 and $224,000 on the streets adjacent to the stations, respectively.

In addition to the price, the decisive factors are usually the size and the intrinsic conditions of the property that is to be rented (also, the offer is currently limited by the problems derived from the Rental Law that came into force in July 2020). In the analysis, a sample of apartments between 1 and 3 rooms was considered. Not all stations have a balanced market offer: this has to do with the level of prices or profitability that is perceived in each neighborhood.

In the surroundings of 4 stations you can find apartments that, on average, exceed 100 square meters; In Retiro (lines E and C) most of the offer is concentrated in 2 and 3-bedroom apartments, while in San Martín (line C) the bulk of the offer is 2 rooms and in Catalinas (line E) it is 1 and 2 rooms.

On the other hand, in the vicinity of 10 Subway stations, the apartments measure less than 50 square meters, with Venezuela (line H) being the most striking case, where the average apartment measures 43m² and has only one room.

They are followed by Federico Lacroze (line B), Lima (line A), Pasteur – Amia (line B) and San Juan (line C) as the metro stations with the smallest departments around them; there the average area does not exceed 50 square meters.

Meneses Flores, said that there are different factors that influence the value of rentals in CABA. “Among them, an important one is the proximity to roads and public transport stations. With this analysis, we seek to guide those who are looking for an apartment and prioritize the speed to arrive through this transportation system ”, he pointed out.

Due to the high level of apartment rentals in Palermo, Belgrano, Núñez, Recoleta, Puerto Madero, the public that most demands real estate in this area are people with high purchasing power. “Those who are looking in the north corridor and the downtown area look at properties with 2 to 3 rooms and studio apartments. The apartment market in these parts offers something for everyone: families with one or two children, couples or singles,” concluded Meneses Flores.

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