Rents in the northern area of Greater Buenos Aires increased by 6.9% in the month of March and accumulated a rise of 22.2% in the first quarter of the year, above INDEC inflation (21.7%) . However, in the interannual comparison, the rental price (88%) still registers increases below the cost of living (104.3%). The data comes from a survey of the real estate portal Zonaprop.
According to the report, the average rental price for a two-room apartment is $106,560 per month, while a three-room apartment reaches 156,537 pesos per month.
The highest prices are observed in the Victoria and Nordelta neighborhoods -The Victoria and Nordelta neighborhoods 151,309 and 144,225 pesos per month, respectively-. While the lowest are found in Villa Lynch (70,018 pesos per month), San Martín (79,729 pesos per month) and José León Suárez (79,992 pesos per month).
A recent study from the same portal indicated that the value of rentals in the City of Buenos Aires rose 25.7% in the first quarter of the year, also above inflation.
In GBA West and South, rents remain below inflation
In the west-south zone, this month the increase is greater than in the north. Prices rise 7.5% in March and accumulate an increase of 19.9% so far this year, below inflation. On a year-on-year basis, this number is 97.9%. Renting an apartment with two rooms and 50 m2 costs $75,470, while one with three rooms and 70 m2 is rented for 101,766 pesos per month.
Canning leads the price ranking with a value of 107,783 pesos per month. They are followed by Ezeiza (101,526 pesos per month) and Bernal (97,272 pesos per month). At the other extreme, the cheapest apartments are found in Valentín Alsina ($57,946), Moreno ($64,649) and Lomas del Mirador, with a value of 64,920 pesos per month.
Buy-sell market: in GBA Norte the price drop slows down
In GBA Norte, sales prices show a slight fall (0.1%) in the first months of the year. However, this setback is less than that registered in the same period of 2022 (0.4%).
For its part, an apartment with two rooms and 50 m2 in the North GBA has a value of $109,126 and one with three rooms and 70 m2, $161,142.
The neighborhoods with the highest prices in the northern zone are La Lucila (3,342 dollars/m2), Vicente López (3,180 dollars/m2) and Olivos (2,897 dollars/m2). On the contrary, the most accessible neighborhoods are Villa Libertad (833 dollars/m2), José C. Paz Oeste (951 dollars/m2) and José C. Paz Centro (972 dollars/m2).
GBA West and South is the area with the highest drop (1.3%) in the first quarter of the year, compared to GBA North and CABA (1.2%). An apartment with two rooms and 50 m2 in the west-south area has a value of $82,030, while one with three rooms and 70 m2 reaches $120,346.
The most expensive neighborhoods are Tristán Suárez (2,400 dollars/m2), Ranelagh (2,164 dollars/m2) and Adrogué (2,139 dollars/m2), while the cheapest are Don Orione (585 dollars/m2), Parque San Martín ( 657 dollars/m2) and Libertad (668 dollars/m2).
Real estate profitability: falls slightly in GBA
Profitability fell in West and South GBA and stood at 3.18%. In other words, 31.4 years of rental are needed to recover the purchase investment, 5% less than a year ago. The Ezeiza and La Tablada neighborhoods show a gross return of 5.2% and 5.2% per year, respectively. In that sense, they are the best neighborhoods for investors looking for income.
In GBA Norte, profitability stands at 3.24% per year. In this case, 30.8 years of rent are needed to recover the investment, 2% more than a year ago. Muñiz and La Lonja are positioned as the best neighborhoods to invest with a 5.4% and 5.2% gross return, respectively.
