Madrid vs. Buenos Aires: Rent Prices

These days, Spain and Argentina are going through an economic crisis, just as most of the countries around the world are. Still, the economic crisis in Spain is not the same as in Argentina and vice versa. According to the information provided by different media in both countries, the rent prices variations in Madrid and Buenos Aires is completely opposite.

During the last year, there has been a fall in the rent prices of Spain, including Madrid, (which has always been considered one of the most expensive cities to live in). On the contrary, during the last year, Argentina has shown a raise in its rent prices and the city of Buenos Aires and its surrounding localities have felt said raise.

According to the information provided by the Spanish website fotocasa.es, the price variation in percentage over rent at the beginning of 2013 in Madrid has been of 7%. That is to say, that in the beginning of 2013, rent prices have fallen 7% in the city of Madrid.

On the contrary, in Buenos Aires the raise over rent prices has been calculated in 20%. This percentage was higher in some of the wealthier neighbourhoods of Buenos Aires.

Nevertheless, although the prices over rent in Buenos Aires have gone up, the truth is that the income that said rent leaves to the owners of the property does not equal said raise, due to the inflation that Argentina has.

To conclude, during the last year, Madrid has been going through a fall in the rent prices and Buenos Aires has evidenced a notorious raise. Still, in both cities (Madrid and Buenos Aires), due to the economic situation, the increase and the fall of the prices have proved not to be beneficial to the owners or tenants (respectively).