In the temporary rental market, the ranking with the greatest offer is led by the city of Buenos Aires (CABA) with 40%, according to a survey conducted by the Zonaprop alert portal. Followed by the GBA North with 25% and the Atlantic Coast with 22%. Together They represent 84% of the total offer.
This method of renting properties originated from the effects produced by the Rental Law, now repealed. Why This regulation has reduced the supply of traditional propertiesmany of which have turned to temporary, unregulated incomes, more focused on tourism and received in dollars.
However, according to entrepreneurs in the sector, the current scenario proves it a market saturated with supply of this type of rent not in line with current demand. This is why they warn owners that, before starting an investment in that niche, carefully analyze whether the income during the year will be able to amortize the investment.
Regarding the penetration of new units focused on this real estate segment, the ZonaProp survey shows that, in December, 44% of the total supply of rental properties (traditional and temporary) belongs to temporary rentals. “However, the supply-demand ratio for traditional rentals is vastly higher than that for temporary rentals. 18.62% versus 2.39% respectively,” he warned in a recent report.
In practice, according to the experience of real estate agencies, the offer of properties intended for traditional rental has been growing after the repeal of Law 27,551. Taking into account only units located in the city of Buenos Aires, traditional rental notices have increased over the last year, by 20% for ZonaProp and 47% for the Argenprop platform.
Also from the Argentina Real Estate Chamber (CIA), it was reported that, from the publication of the official DNU until today, the number of units that have been added to the rental offer through platforms has increased significantly compared to the beginning of 2023.
Temporary rental prices
As for the price ranking, Puerto Madero is the neighborhood with the highest daily value. A two-room apartment is worth between 120 and 135 dollars per day, while one of the same features in Almagro is between 30 and 40 dollars per day.
In Recoleta or Palermo a three-room apartment costs up to $70 a day, while a studio apartment in Belgrano costs up to $75 a day.
As for the cheapest options, Parque Chas It features apartments starting from $330 a month, while a two-room apartment in Villa Rita costs $370 a month. The most affordable three- and four-bedroom accommodations are found in Boedo ($620 per month), Balvanera ($750 per month) and Once ($750 per month).
Finally, properties with up to six rooms can be found in Barrio Norte ($2,390 per month) and Palermo ($4,260 per month).
Another fact reflected by the ZonaProp report is this 2023 was the year with the highest percentage of ads served in dollars
“From 2021, when advertisements in dollars represented 38%, in 2023 the percentage of advertisements doubled, reaching 74% of the total. While only 26% of temporary rental advertisements were in pesos”, specifies the real estate portal.
Source: Clarin
