Apartments in BA

[sab15]

Hi,

I'm a bit confused as to BA apartment prices/situation. i.e. I've been to several sites like buenosaireshabitat and buenosairesstay and see 1 bedrooms, for example, anywhere from around 800 to upwards of 2,000 depending on square footage and exact location, in Palermo, let's say. And, these apartments are listed in dollars. So my questions are:

(1) Do locals pay these same prices, and do they also pay them in dollars (assuming they are not signing 1 year contracts also like a tourist would)?

(2) If not, I imagine they find apartments in local newspapers and websites. What then, would the locals pay, for the same apartment that is listed, for let's say 1,000 US, and what are some of the local websites that they go to?

Thanks a lot!!

sab15

 

[dani28]

Hi Steven-

No, locals do not pay the same prices as foreigners. In Argentina there is the concept of ¨alquiler para extranjeros¨ which is a totally different ball park than the locals. It is priced in US dollars, often times in amounts that are really outrageous for a city like Buenos Aires but that perhaps someone who is just going to be here a few months and has the money wouldnt bat an eye at.
They are basically like what we know as ¨corporate apartments¨ in the US, short-term, furnished places, that are often priced double or triple what a normal lease would run.

To give you an idea, when I first moved to Buenos Aires, I rented a room in a flat in Recoleta for $550. I dont know how I would have been able to continue to pay such a price these days. Now I live in a nice 1 bedroom apartment in a nice high-rise building in Caballito and pay less than 1000 pesos
The only problem is that it is very difficult to lease like a local coming as a foreigner, as most local leases require a GARANTIA which is basically a co-signer that says that if you dont pay your rent, the landlord can seize the property of the co-signer.

 

[davonz]

From my experience...

I have always managed to pay less than the asking price for "tourist apartments". However you have to look around, and also it is far easier in the off season - april to october - to get a good discount.

I usually pay around US$12 to US$15 per square meter per month. Includes everything. However i have never started a rental during the high months. My last studio the owner wanted $550 per month (her winter price), i got for $425 including everything (Cable TV/Internet/Gas/Water/Electric/Phone). She was happy because i stayed there for 7 months.

The problem here is that alot or foreigners come here and are willing to pay to high rents because they are only here for a couple of months, so that makes the locals think they can get that price all the time.
Also alot of the locals once they have a price, are not willing to drop it, they would rather the apartment sit empty then rent it out for less.

 

[citygirl]

Owners have also made significant investments in buying and furnishing the apt - it's not all about ripping off tourists Renting a short-term, furnished apt is always going to be more expensive than renting a long-term, unfurnished place. That's true everywhere in the world.

To the OP, yes, if you have the ability to sign a 2 year lease, have a guarantia (or potentially are willing to pay at least a year or rent up front) and have the funds and time to furnish an apt, you can/will pay significantly less than the price of a short-term furnished apt.

Things to take into consideration if you do that:
1) What are the building expensas
2) The rent usually increases 20% the 2nd year
3) Are you here for at least two years?
4) Do you have the ability and fluency to set up all the services and utilities (water, gas, electricity, phone, internet, etc, etc)?
5) Have you factored in the price of furniture?

FWIW - when I was renting, I looked seriously at getting an unfurnished place as I had access to guarnatia, etc. However, when I calculated how much the expensas, utility bills plus the cost of furnishing the apt, I decided it wasn't worth it to rent an unfurnished place.

It is always worth negotiating with a landlord, especially if you are going to be in a place for at least 6 months. Landlords are usually flexible on their prices for a longer-term tenant. It's also key to look outside of typical tourist areas if you have the ability to do so, prices will be less?

And of of curiosity - to the person paying 1000 pesos - is that for a shared apt? Does the 1000 pesos include expensas for the building? How much did you pay to furnish the place? I don't know of any locals paying 1000 pesos for a 1 BR apt - that seems like quite a deal.

 

[elhombresinnombre]

I agree entirely with everything you say, Citygirl. I just wish more people would do their research a little better before jumping to the (wrong) conclusions about how property rentals work in Argentina.

And of of curiosity - to the person paying 1000 pesos - is that for a shared apt? Does the 1000 pesos include expensas for the building? How much did you pay to furnish the place? I don't know of any locals paying 1000 pesos for a 1 BR apt - that seems like quite a deal.

I would have agreed with this too though they say that it's the exception that proves the rule and just this morning I heard about a family who had been renting a nice two-bed apartment for AR$300 per month. Let me spell that out in case you think it is a misprint: three hundred pesos a month. A friend of a friend has just inherited a tenanted property and discovered that the now-deceased relative hadn't ever increased the rent!

 

[perry]

Owners have also made significant investments in buying and furnishing the apt - it's not all about ripping off tourists Renting a short-term, furnished apt is always going to be more expensive than renting a long-term, unfurnished place. That's true everywhere in the world.

To the OP, yes, if you have the ability to sign a 2 year lease, have a guarantia (or potentially are willing to pay at least a year or rent up front) and have the funds and time to furnish an apt, you can/will pay significantly less than the price of a short-term furnished apt.

Things to take into consideration if you do that:
1) What are the building expensas
2) The rent usually increases 20% the 2nd year
3) Are you here for at least two years?
4) Do you have the ability and fluency to set up all the services and utilities (water, gas, electricity, phone, internet, etc, etc)?
5) Have you factored in the price of furniture?

FWIW - when I was renting, I looked seriously at getting an unfurnished place as I had access to guarnatia, etc. However, when I calculated how much the expensas, utility bills plus the cost of furnishing the apt, I decided it wasn't worth it to rent an unfurnished place.

It is always worth negotiating with a landlord, especially if you are going to be in a place for at least 6 months. Landlords are usually flexible on their prices for a longer-term tenant. It's also key to look outside of typical tourist areas if you have the ability to do so, prices will be less?

And of of curiosity - to the person paying 1000 pesos - is that for a shared apt? Does the 1000 pesos include expensas for the building? How much did you pay to furnish the place? I don't know of any locals paying 1000 pesos for a 1 BR apt - that seems like quite a deal.

Good post Citygirl

It is easy to blame the realtors or other reasons for high prices for rental or sale but the reality of the market is that there is high demand for quality products and the prices are the same for foreigners as they are for locals.

I am tired of reading this misinformation that furnished apartments are for foreigners only . The prices are the same for locals and foreigners . There is absolutely no difference in the rental price for the two.

In regards to long term rentals you will require a guarantia in many cases but this is not set in stone . Many expats have been successful in this .

 

[dani28]

I didn't mean to say that the prices are DIFFERENT for foreigners, the furnished rental landlords I'm sure wouldnt mind taking the asking prices from an Argentine, however no Argentine that I know would pay (or can pay) $500 USD for a bedroom in a shared Recoleta flat or $1800 USD for a furnished one bedroom. Even factoring in expensas and buying furniture, in the long-run it just isnt worth it for locals to do this, nevermind that the fact the dollar keeps going up and a rental in dollars just isnt smart here for a local earning in pesos.

My private 1 bedroom/1 bath apartment with terrace for 1000 pesos is a pretty good deal compared to Recoleta or Palermo, but for this area, its a pretty common price. (Most the people renting in my building pay around this) It's your typical ¨alto profesional¨ high-rise (nothing too luxurious, but nice and safe, with portero, etc) Expensas are about 300 pesos. I did not get it with furniture, but am still more satisfied with this arrangement, as is my wallet, even if it means buying furniture.

It really depends on your individual situation, there are some great deals to be had if you can get them, and likewise, there are some rentals that's prices make me think I am in Chicago and not Buenos Aires!

 

[EduardoRey786]

Be careful Sab15 because all agencies are not created equal. A friend of mine had an unfavorable experience with buenosairesstay and I would advise you to get recommendations for any agency you choose.

 

[sab15]

I don't get the garantia thing. Are you talking about kids that just graduate from college and are making pennies at their first job? What about a single yuppie that proves that he is earning 50k - 100k US? He has to go and ask his mommy for a garantia? Can someone please clarify? I find that hard to believe. What if you show them your bank account with 100k US savings in it? You still need a garantia?

 

[dani28]

I don't get the garantia thing. Are you talking about kids that just graduate from college and are making pennies at their first job? What about a single yuppie that proves that he is earning 50k - 100k US? He has to go and ask his mommy for a garantia? Can someone please clarify? I find that hard to believe. What if you show them your bank account with 100k US savings in it? You still need a garantia?

I dont know a lot of people, let alone young people making 50k-100k a year in Argentina.

But to answer your question: Yes, probably so, depending upon whom is renting the apartment. In Argentina, with the instability of how things are, to most landlords, income or money in the bank (especially with the crazy way in which money leaves bank accounts here) means nothing and doesn't really mean much in terms of whether or not you will actually pay your rent each month, whereas a garantia is, just as the name says, a precise guarantee that you WILL pay, or if not they have the possibility to take a property of similar value.