The average price of residential rental properties in Buenos Aires rose 25% over the past twelve months, as property owners attempt to keep pace with inflation through rent hikes and semi-annual adjustments.
The new data from the City’s Statistics Department show the average rental rate for a 50 square meter (538 square foot) condominium in Capital Federal rose 25% from May 2013 to May 2014 while inflation rose 39.5% over the same period.
Many Buenos Aires property owners are signing two-year rental contracts with their tenants establishing a fixed price in year one with a 20% to 30% increase for year two. Still others are factoring in semi-annual adjustments with 12% to 15% bumps every six months.
In the graphs above, InvestBA offers a breakdown of average rental prices in 14 of the most popular neighborhoods in Buenos Aires. The three most expensive neighborhoods are Palermo, Retiro and Recoleta, while Villa del Parque, Balvanera and Flores are the three most affordable.
Buenos Aires residential rental rates posted the largest year-over-year increases in Recoleta (+30.2%), Nuñez (+30.2%) and Villa Crespo (29.9%). The smallest year-over-year average rent hikes were in Villa Urquiza (23.8%), Balvanera (18.4%) and Caballito (16.5%). (Full Story in Spanish)
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