The price of apartment rentals in the City of Buenos Aires reversed the upward trend they had begun in the middle of last year and in the last twelve months had increases below inflation, according to a survey by the Scalabrini Ortiz Center for Economic and Social Studies (CESO). Thus, between August 2020 and the same month of 2021, the cost of renting a single environment in the Buenos Aires district increased 47.4%. For its part, it had an increase of 43.5% in the average for two environments, and 42.9% in three-room properties.
In parallel, inflation for August will be announced on September 14 by the National Institute of Statistics and Censuses (INDEC), but the year-on-year measurement to July was 51.8%, between four and nine percentage points higher than rents. Regarding the monthly variation, the prices of August showed no change in the case of the apartments of one and three rooms, while in those of two environments the average rent registered an increase of 3.1%. Thus, for the first time in the year, the minimum wage, vital and mobile, which this month is $28,080, exceeded the median of the single-environment, which remained at $28,000.
“The relationship improved a lot, since in September 2020 it only covered 84% of the value of the rent,” said the entity led by Andrés Asiaín.
However, it should be clarified that the comparison does not take into account the value of common expenses, which according to CESO represents on average an additional 18% to the cost of rent. The median supply surveyed by CESO shows values of $28,000 for single-roomers, $33,000 for those in two environments and $50,000 for those in three, although in each category “prices vary depending on other characteristics (such as age, if you have a garage, etc.) and your environment (infrastructure, transportation availability, proximity to shopping centers among others)”.
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