Northern Buenos Aires apartment rents surge, doubling inflation in some areas

Rental prices for two-bedroom apartments in Buenos Aires' northern suburbs are surging, with some neighborhoods experiencing increases that have doubled the official inflation rate. While the national inflation index for June rose by 1.9%, accumulating a 33.5% annual increase, certain areas saw rents climb much higher.

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In some areas, rents rose double the inflation reported by Indec.

Don Torcuato recorded the steepest rent hike at 66.8% over the past year, closely followed by Dique Luján with a 62.8% increase. These figures significantly outpace the average rent increase in the northern Greater Buenos Aires (GBA) region, which stood at 26.3%. Consequently, average rents for a two-bedroom apartment in these specific zones now hover around $837,266 and $717,300 pesos, respectively.

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the highest increase was recorded in Don Torcuato, with a rise of 66.8%, closely followed by Dique Luján, where prices advanced 62.8%.

Despite these sharp rises in specific locations, the overall market trend for rentals in northern GBA shows a real-term decrease. The average price for a two-bedroom apartment in this region is approximately $800,743 pesos per month. Over the last 12 months, rental prices have fallen by 7.2% in real terms, meaning they have not kept pace with the general rise in the cost of living. This does not mean tenants are paying less than a year ago, but rather that the value of their rent has diminished relative to inflation.

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rents increased more than double the year-on-year inflation

Northern GBA remains the most expensive area for rentals within the Greater Buenos Aires region. Vicente López boasts the highest rental offers, with a two-bedroom apartment averaging $984,009 pesos monthly. In contrast, José C. Paz Centro offers the most affordable rentals.

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the average price of renting a two-bedroom apartment in GBA norte is located at $800,743 per month, with an increase of 1.8% in June.