As the worldedfa economy started to visibly crumble, the Buenos Aires rental market started feeling some slight fluctuations. Some prices are higher than what renters’ salaries can afford, while a higher vacancy rate is making property owners more willing to negotiate with renters. Despite these factors, property owners can still enjoy a profit margin of 6 to 8 percent per year.

Buenos Aires Real estate agencies also make reference to new trends. In order to reduce costs, people not only give up comforts by moving to a more modest building or a smaller unit, they also get together to share the rent. This is especially evident with university students that come from other parts of the country. Many individual students previously rented a 2 bedroom apartment so that they’d have a spare bedroom for family to visit, now two students share that same apartment. Today, Buenos Aires apartments for rent fully furnished are ranging from $450 to $1200 for a week depending on the building and location.

Renting apartments in Buenos Aires is not easy for property owners. The amounts of properties on the rental market have increased because of apartment units in newly constructed buildings are purchased as rental property. Additionally, a 20% decline in international tourism means that many apartments, formerly rented to tourists on a temporary basis, are now on the long-term market.

As far as what the future holds, realtors understand that if unemployment rises and there are no salary increases, theoretically rental prices should drop. No property owner wants to have his apartment empty. When the time comes to discuss a rental agreement, well qualified renters are able to negotiate the rental prices, which are on a downward trend, but will stabilize.

People who have a small amount of capital understand that buying property is a secure investment. Recently purchased property is not worth selling because there are few buyers on the market and sellers would be uncertain as to what to do with their money in this unstable international economy. The lack of housing makes renting an attractive option for property owners, especially since profit margins have kept up with inflation.