Rents in the city of Buenos Aires increased 145% year-on-year in June

Rental prices in the city of Buenos Aires rose year-on-year by up to 145% in June. Also, more than half of the ads to rent are already published in dollars, according to the latest report of the Center for Scalabrini Ortiz Studies (CESO). The context of inflationary acceleration adds uncertainty when it comes to having to set values that will govern for 12 months, “explained the publication, where the CESO adds: “This, which is a problem of the macroeconomy beyond the contractual conditions, has been translating into high input values that, although with the current inflation rates are quickly liquefied, constitute a significant barrier to entering a new rental.” The report notes that, although there has been an increase in the percentage of offers expressed in dollars since February 2022, as of January 2023 that value reached 30%. In March of this year, the percentage reached 40%; And in this month of June for the first time, more units are offered in dollars than in pesos (54.6%). For its part, the median of the studios offered in Capital Federal is $ 110,000. While June’s Minimum Living and Mobile Wage is $87,987, therefore, it covers 80% of a rent. This ratio, which had improved by mid-2022, is now down more than 20 percentage points from June 2022.
Also, median offers of two-room apartments is $ 130,000. In this category, prices vary depending on other characteristics (such as age, if you have a garage, etc.) and your environment (infrastructure, availability of transport, proximity to shopping centers among others).
Finally, the median offer for three-room apartments is $ 180,000. In this case the prices also vary by the characteristics of the property. In this sense, the values expressed above do not include expenses, which reach on average 12.9% of the cost of the offer price of a rental. The increases compared to May 2023 were 18.9% in the studios and 8.3% for those with 2 environments and 12.5% in those with 3 environments.
On the other hand, in the last twelve months, the offer price of a studio apartment in Capital Federal increased 144.4%. In the departments of 2 environments the increase was 124.1% and 125% in those of 3 environments.

Original source in Spanish