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Here's a handy guide to the cost of renting flats (apartments) in BA, with a two room flat averaging out at around AR$26,000 (US$173?) per month which, if you're earning in US$, is an absolute steal.
The cost of rentals in BA
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Interesting, but if you head to websites like zonaprop, you can see the jump when you add more bedrooms/ambientes. For example, for a three bedroom apartment or house you're looking at between 70,000 to 100,000. If you find something lower than that it is usually old and/or small. Still, if you happen to be single in Buenos Aires with a job, finding a place to live right now is manageable. I even mean for people working in pesos here. A decent monoambiente is around 20,000.
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If you are flexible, there are good rental deals on real estate expats groups. If you are looking at a family rental, it may be more difficult because you are narrowing your options to larger units with perhaps more than one bathroom.
What I can't still understand is how it is that rental prices have dropped but buying prices have remained almost the same. As a result, buying real estate as an investment is not lucrative, unless you consider investing in real estate just an alternative to keeping money in the bank.
I did a gross calculation that, on average, you are looking at 15-20 years of rents to earn the same amount you've invested today. On a typical market, this is around 10 years.
A 6% annual yield is considered a good investment in the US. Here it is nowhere close to that number...
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After the last tennant left we decided not to rent out our apartment on Av Uruguay one block from Av Santa Fe anymore. However over the next couple of years the missus used it for one night only. We were shelling out service fees and tax and started wondereding what the point was in having it when we'd be cheaper staying in a 5* hotel if we had to stay in BA overnight. So when a friends son asked if it was available we struck a deal. In return for two years free rental he agreed to pay to have the whole apartment modernised which was badly needing to be done. He would also pay the tax and all service fees.
Resulting in, the apartment now looks fantastic, its value must have risen and we're not shelling out money for something we never use!
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Great outcome, UK Man !
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That was one lucky match, UK Man!
In our area, new restaurants/cafes are popping like flowers in springs, and accordingly also 'for sale' signs on older homes. Unfortunately, they are sold for half a million bucks because they are on lots where it is allowed to build up to three or more storeys, so that only a building company could afford the purchase.... to take it down altogether and build an anonymous building. While we do live in a building, too, at least here they made an effort to preserve the original style of the façade.
On Julián Álvarez and Cabrera, the firm Cubero Rubio has built another home, taken it down, and left only the street wall in French Style. They have painted it black, applied white design stickers with a giant QR code and a catchy phrase. The plan? a 10-storey condominium.
