2023-08-01 21:55:00
Real estate prices in the City of Buenos Aires rose by 0,1% in June while rents advanced 11,3% in July.
Sales prices thus registered the first increase since March 2019. However, so far in 2023, the values register an accumulated decrease of 2.1%.
According to the Zonaprop report, the average value of a studio apartment is $93,913 dollars; a 50-square-meter two-room apartment costs US$ 112.984 and one of three rooms and 70 square meters reaches the US$ 158.306.
In 2022, 83% of the Buenos Aires neighborhoods registered a price drop and, currently, 52% of the neighborhoods show monthly increases: since March 2019 this indicator has not been above 50%.
The price ranking by neighborhood is headed by Puerto Madero (US$5,668/m2), Palermo (US$2,917/m2) and Belgrano (US$2,701/m2).
For their part, the cheapest neighborhoods in the city are Villa Lugano (US$1,016/m2), Pompeya (US$1,391/m2) and La Boca (US$1,439/m2).
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Regarding the Metropolitan Area of Buenos Aires (AMBA), a report from the San Andrés University and Mercado Libre indicated that last month there was a month-on-month drop in the sale price per m2 of houses of 0.9% and a rise in 0.3% departments.
At the year-on-year level, there was a rise in the average sale price of houses in 1,2% and a fall from 5% in the departments.
How much did it cost to rent in July?
On the other hand, the Zonaprop report revealed that rents in CABA increased by 11.3% in July and for the third consecutive month they set a record monthly increase.
So far this year, rental prices accumulated a rise of 89.6%.
Thus, a studio apartment in CABA costs on average $143.825 per month; a two-room apartment reaches the $176.244 and one of three environments reaches the $230.178.
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The most expensive and cheapest neighborhoods to rent
Palermo is positioned as the most expensive neighborhood, with an average price of $226,114, followed by Retiro and Nuñez with $217,219 and $213,424, respectively.
They are followed by Villa del Parque ($181,808), Parque Chacabuco ($170,746) and Boedo ($164,912).
The cheapest neighborhoods to rent are Liniers ($114,213), Constitución ($146,940) and Vélez Sarsfield ($148,032).
Regarding rentals in the AMBA, the increase in July was 12.8%.
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