Although the real impact on real estate demand is not yet known, everything seems to indicate that in recent weeks – after the repeal of the rent law – The supply of real estate has increased.
Some market estimates show the reaction of owners after the deregulation of the law. The specialists consulted by Clarín say so “the impact on supply was immediate”.
In this regard, Soledad Balayan, of Maure Inmobiliaria, commented that “the number of units offered went from 5,700 to 6,500 in one week”, almost 20%. And this increase in the availability of properties even exceeds the figures compared to last year.
It should be noted that the impact this will have on demand remains to be seen, as no estimates are yet known. According to Balayan “this is a considerable increase considering that we are in January”.
At the same time, the specialist warned him “February and March will be key because they tend to be months where a lot of contracts are signed. “People are returning from vacation.”
When asked about the value of the rents, the specialist indicated that “that is where the difficulties could arise”. “it is the demand that will validate this increase in supply or not” according to the new rental prices and conditions accepted by the DNU, but for this “It must be at least a couple of weeks”He explained answer.
According to the president of the Argentine Real Estate Chamber, Ivan Ginebra, the peculiarity of the law “is that all contracts are different, very different from what they were until now”.
For the specialist “now the contracts will be different though “Over time they will tend to standardize.” “From the Real Estate Chamber we are already facilitating these contracts to our partners along with training sessions from our Real Estate Training Institute,” the CAI boss said.
“We must keep in mind that this solution is not immediate nor does it solve the problem of lack of access to housing,” Ginevra explained. And she added: “Many Argentines have difficulty paying the rent, but it is a phenomenon of the Argentine economy and this is due to the loss of purchasing power of the salary.”
In this sense, he concluded: “This reform allows tenants and landlords to reach an agreement more easily, and according to the needs of each party.”
What changes compared to the norm
The most controversial points changed after the repeal of the rent law are those that covered the duration of the contract and the updating of the values. In the now old standard, a duration of Three-year contracts and annual renewals, with which the supply of rental units had contracted sharply. In some cases, owners have decided to increase prices, partly due to inflationary inertia, or have directly decided to put the unit up for sale (see Evolution of the average rent in CABA).
Based on the new provision established by the Government, negotiations will take place from owner to tenant, agreements will be established by each party, updates and adjustments will take place every four months and renewal will be carried out every two years.
Neighborhood by neighborhood, how much does it cost to rent a two-room apartment in CABA
According to the latest Zonaprop report, the rental costs of two-room apartments in the city of Buenos Aires have recorded a sustained increase and have reached a year-over-year increase of 260% through last December.
The average values, even if they depend on each neighborhood, continue to be high and nothing is achieved less than $273,000 per month.
Two-room apartments are always the most requested both for purchase and for rent, especially at CABA. Historically, apartments with these characteristics are among the most requested by university students coming from within, and in recent years they have gained ground among the properties set up for rent in dollars (within the Airbnb system).
How much does a 2-room apartment, 50 m2, for rent in CABA cost on average, in pesos, according to Zonaprop:
- Palermo: $491,737.
- Belgrano: $487,654.
- Nunez: $477,163.
- Chacarita: $475,151.
- Withdraw: $458,284.
- Recoleta: $450,766.
- Schoolchildren: $446,072.
- Saavedra: $436,812.
- Coghlan: $425,754.
- Villa Urquiza: $420,953.
- Villa Ortuzar: $393,249.
- San Telmo: $391,413.
- Chas Park: $384,767.
- Villa Crespo: $382,801.
- Villa Devoto: $375,432.
- Little horse: $372,632.
- Chacabuco Park: $369,992.
- Montserrat: $369,987.
- Almagro: $368,342.
- Villa Luro: $361,754.
- Park Village: $342,108.
- Villa Pueyrredon: $340,620
- Villa General Miter: $340,587.
- Flowers: $339,392.
- Boedo: $330,984.
- Saint Nicholas: $328,493.
- San Cristobal: $325,766.
- Balvanera: $315,821.
- Constitution: $309,635.
- Barracks: $296,847.
- Saint Rita: $290,660.
- forest: $288,139.
- Mount Castro: $284,809.
- Linemen: $273,253.
SN
Source: Clarin
