Since the sanction of the current Rental Law In 2020, getting a house or apartment has become an odyssey for thousands of tenants. It is a phenomenon that occurs throughout Argentina and Olavarria is no exception..
Simply checking the real estate classifieds sites, hard to find housing to rent. Of the little supply that there is, many of them are no longer available. Some individuals even take advantage of the publications to ask for homes instead of offering them.
The flow of people is a lot. There is a demand that totally overwhelms the market.
Making a tour of the main real estate agencies in the city, they point out that there is a scarce offer for the great demand that Olavarría has. “The flow of people is a lot. There is a demand that totally overwhelms the market. It is getting worse and worse”, they indicate from Millenium Properties.
Even of the real estate agents consulted by Let us know, only two own homes for rent. “There is nothing left to rent. Because everything is for sale and that means that the properties that are rented are reduced, ”clarifies the auctioneer. Florence Ciarpella.
The demand is such that the real estate agents consulted receive about 20 telephone inquiries asking for rentals. And to that is added WhatsApp and social networks. There are so many queries that some don’t even publish them, but manage to locate them through those calls.
Such is the madness that people live to rent that some find out that one is about to be vacated and they already want to reserve it. Real estate agents treat it with caution, but it is still a more than striking situation. “What is about to be vacated is already reserved before it is vacated. You already have it rented since before people leave. They find out somehow and they call you to rent it”, adds Ciapella.
What is about to be vacated is already reserved before it is vacated. You already have it rented since before people leave. They find out somehow and call you to rent it.
By pure market logic, a low supply and a high demand cause prices to rise markedly. That, added to the very high inflation of recent months. All this explosive combo has led to the properties to increase considerably. “When we tell them how much they have to pay per month, things get complicated”, he points out Susana Capuano on the impossibility of many people to face a rent.
When we tell them how much they have to pay per month, things get complicated.
“A department that a year ago was $15,000 is now at an easy $25,000. And if you ask for more, you rent it for more. What we are living is crazy”, tells Florencia Ciarpella with a hint of concern. And that is a constant in all real estate. It is that they know that for the tenants it is a place to live and they cannot provide an answer to a basic need. And that’s how they understand it. “A typical house is $50,000 and up. They are difficult amounts, not everyone earns that“, Agrega Capuano a Let us know in the same tone.
The economic issue is a primary factor in this labyrinth. Under the new law, the annual increase is governed by the Index for Lease Contracts. Although it varies from day to day, is above 60%, a difficult figure to face for tenants. “Salaries didn’t go up that much. And if they come close to those figures, in some cases they give it to you in 2 or 3 installments”, reasons Susana Capuano.
Many people chose to take the availability market out.
Regarding the scarce supply of rentals, there is a well-marked trend. “There are owners who do not want to do it by law because it is not convenient for them”, they point out from a well-known olavarriense real estate agency. “Many people chose to take the availability market out. They have left them on standby”, they add from Millenium Properties. And many others put them up for sale at prices that have depreciated in recent times.