Rent price on 1-bedroom apartments in Belgrano and Palermo

Due to the new policies applied to the dollar exchange, the real estate sales have frozen during the last months in Argentina. People do not wish to sell their properties in argentine pesos, and buyers do not wish to buy dollars according to the exchange rate of the parallel dollar. This has caused the supply and demand of rent to increase. Those who do not want to sell their properties don’t want to deal with the cost of an empty apartment; and those who don’t want to buy, must rent a place to live. Generally, when the demand is high, prices go up. Nonetheless, this isn’t the case for Argentina. These days, prices over rent haven’t gone down, but neither have they gone up too much. Even though prices adapt a bit due to inflation, owners will not be able to rent their properties if the prices are too high. This is because the tenants are not able to pay high prices.

So, according to the statistics, in 2012, rent prices could go up between a 15% and a 20% during the year.

Currently, the most popular apartments are those of 1 or 2 bedroom apartments, in the neighborhoods of Belgrano and Palermo. For the case of smaller apartments, since there is a lower supply of them, the competition is higher and everyone hurries to get them.

The renting of smaller apartments, such as studios or 1-bedroom apartments, are about AR$1,700 and AR$2,300 per month. Nevertheless, the price of each apartment will depend on its location within the neighborhood (since Belgrano and Palermo are big). These two neighborhoods are really popular when it comes to looking for an apartment to rent, and that is why prices may be higher than in other places of the City of Buenos Aires. However, as we have mentioned previously, prices over rent in Buenos Aires are not going up too fast as they did last year, which is a good sign for all those tenants who are looking for a place to live.