Rents in CABA increased up to 141.1% in the second quarter: which is the most expensive neighborhood

Rents in the City of Buenos Aires had a year-on-year increase of 141.1% in the second quarter of the year. It also suffered a 48.6% drop in the publication of offers and the tripling of the proportion of offers in dollars, according to the General Directorate of Statistics and Census of Buenos Aires (Dgeyc). In addition, the report details that both in apartments of one, two or three rooms, the most expensive rents were in the neighborhood of Palermo, while the cheapest in Balvanera and Flores. At the same time, it was not possible to relieve the most economical studios due to “the scarce supply” in that strip. In detail, the agency indicated that in the April-June period, the published price of the square meter for rent of used apartments had an average year-on-year increase of 141.1% for studios, 134.6% for two-room apartments and 126.2% for three-room units, with average valuations of $98,721, $130,826 and $189,453, respectively. “Rents continue to accelerate the pace of growth: all segments registered year-on-year increases around 20 percentage points above those of the previous quarter, with the peak in the hands of the two-room units,” said the City entity, which also noted that these increases exceeded “in all cases” the inflation that occurred in the district, of 114.6% per annum. The neighborhood of Palermo registered the highest rental prices for used apartments, with values of $ 114,015 for studios, $ 173,594 for two-room apartments and $ 246,575 for three-room apartments. Finally, the report highlighted the “drastic reduction in the supply of rental publications in pesos”, with a retraction of 26.1% in relation to the first quarter and 48.6% compared to the stock offered in the same period of 2022.

Original source in Spanish