The rent of a studio apartment in CABA rose 5.9% in October

Rental prices in the city of Buenos Aires increased between 4.5% and 11.1% monthly in October, depending on the location and number of rooms in the apartments, according to a survey by the Scalabrini Ortiz Center for Economic and Social Studies (CESO). The CESO pointed out that the increases compared to the values of August were 5.9% in the studios, 4.5% for the two-room apartments and 11.1% in the three-room apartments. All in all, these monthly increases were substantially lower than those of September, when they showed increases of 21.4%, 29.4% and 12.5% in one-, two- and three-room units, respectively. In this context, the report indicates that the accumulated increases in the last twelve months were 205.1% for Buenos Aires studio apartments, 233.3% for two-room units and 215.8% for three-room units. In all cases, the increases exceeded year-on-year inflation, which as of September amounted to 138.3%, according to the National Institute of Statistics and Census (Indec).
On the other hand, the average of the studios offered in the city is $180,000, so the Minimum Living and Mobile Wage, which in October is $132,000, is enough to cover 73.33% of a rental, a coverage higher than the 69.41% of the previous month. Meanwhile, the median offer of two-room apartments is $230,000 and three-room apartments $300,000; with minimum wage coverage of 57.39% and 44%, slightly higher than in September, when coverage was 53.64% and 43.70% respectively.” The values expressed above do not include expenses, which reach on average 10.9% of the cost of the offer price of a rental,” the report added. In each category, prices vary depending on other characteristics (such as age, whether it has a garage, etc.) and its environment (infrastructure, availability of transportation, proximity to shopping centers, among others),” the study center warned. The CESO concluded that “in the city of Buenos Aires, high prices prevent a large part of the population from renting even an average studio apartment, pushing them towards areas with lower quality infrastructure and services.”

Original source in Spanish