An avalanche of new rental rate data came out this week which will interest foreign investors looking to buy and rent apartments in Buenos Aires.
How much profit can you make today by renting an apartment to tourists in different Buenos Aires neighborhoods? is the headline of iProfesional’s summary of Reporte Inmobilario’s new study of average rent increases over the past twelve months for 1, 2 and 3-room apartments in BA.
The report breaks down seven of the most popular barrios for tourists including Barrio Norte, Belgrano, Centro, Palermo, Puerto Madero, Recoleta and San Telmo. Looking at the City of Buenos Aires as a whole, average rents rose between 5 and 20% over the past year for all three apartment categories. The smallest units rose on average 20%, two-room units climbed 14% and three-room units inched up 5%.
The BA barrios posting the largest annual increase in rental rates for one bedroom units were Puerto Madero (30%), San Telmo (27%), Centro (25%) and Palermo (18%). Buenos Aires two-room apartments saw the biggest annual bump in Barrio Norte (28%), San Telmo (23%) and Palermo (21%), while rental rates for three-room flats rose the most in Palermo (20%), Centro (19%) and San Telmo (12%).
Looking at individual barrios, Centro, Palermo and San Telmo would appear to be the firmest with double-digit rent increases across all three categories of unit sizes. Barrio Norte, Puerto Madero and Recoleta all showed double-digit strength in the one-room category, although the largest three-room units actually posted annual decreases in three barrios: Recoleta (-1%), Belgrano (-5%) and Puerto Madero (-11%). (Full Story in Spanish)
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