Third wave of infections. Inquiries to rent houses in private neighborhoods increase in February
Like the first and second waves of infections, the third stage of coronavirus marked a trend in the real estate world. The increase in positive cases in recent days has caused many people to need to rent a house in the green in search of an outdoor space to spend their time.
“In these last 15 or 20 days there has been a rebound in demand from people who changed plans due to Covid and demanded houses again. There is still something left for February”, observes Horacio Benvenuto, general manager of Izrastzoff Compañía Inmobiliaria. For the businessman, this trend stands out in the face of “a season that, unlike last year when there was a boom in demand, started quietly, which is why prices fell between 10% and 30% in some properties in December.” Now, he admits that there is a point of inflation in which people decided “just in case” to rent and do something quieter.”
According to Gonzalo Urdapilleta, director of the Teresa Urdapilleta real estate agency, he points out that there is a significant reluctance on the part of those infected with coronavirus to go through mandatory isolation in their closed departments: “There were several cases that requested rentals because they had to isolate themselves or even had to suspend trips so they went there to look for houses in the area. The increase in this type of request was accelerated: they are looking for properties immediately”, he admits.
Along the same lines, Sebastián Lalín, manager of Castex in Terralagos, a premium gated community located in Canning, acknowledges a barrage of queries: “Only this morning 20 queries arrived and more than half were for a weekend or five days but in the gated community we have a minimum 15-day restriction for security,” he clarifies. Benvenuto agrees with him, who assures that “there are people who ask for five, seven or 10 days but there are no options to rent for such short terms since for the owner it is quite a move to accept the move because they live in the houses and have to move everything. Although there are rentals for 15 days, there are only a few exceptions”.
For his part, Gustavo Iglesias of Gabriela Iglesias Properties believes that the profile of a temporary tenant for “a house or a villa in the green like Pilar or Escobar is, in general, people who for various reasons cannot go on vacation because they have a job. seasonal and cannot leave during the summer or because they are expecting a baby in January or February.”
Regarding the requirements, Iglesias recognizes that what clients are always looking for in Nordelta are houses with a pool. “Normally, families ask for properties of 250 m² or 300 m², which are usually three rooms with a service room where older children can sleep with their own bathroom. Normally, an average house of this size with a swimming pool is rented temporarily for a flat of US $ 3000 or US $ 3500 per month and at the other end of the price scale are options for $7,000 or $8,000. Also, a Department of three main rooms with amenities is cheaper and can be rent for between US$1,000 and up to US$2,500 per month”, he observes. Benvenuto finds the same demand in the northern area of Greater Buenos Aires, and clarifies that “in February it is cheaper to rent than in January because there are fewer days, but the reality is that there is also less supply because classes start earlier”, clarify. It details that for the second month of the year there are rental values that start at US$2,200 in the cases that lowered the price compared to previous years, since in the midst of the pandemic “they were all above US$3,000″.
Temporary rentals usually work a lot during the months of January and February and slow down more in March because that is the length of the school holidays. In these 60 days, owners usually store their things and put their house up for rent while they go on vacation. “Generally, the most common thing is that they put their house up for rent only for January or the end of the year and the first month of the year, although later there are people who also rent for 45 days and some for two months. In general, vacation days are mixed with other days at the parents’ house., parents-in-law, relatives or a friend who frees their house”, affirms Benvenuto. In this way, they can often offset the cost of the vacation and keep an extra percentage of profit.
The possibility that the temporary rentals extend until March, Iglesias sees as unlikely. “In general, the houses that are rented temporarily belong to the owners who go on vacation for one or two months, for example to a house they have in Pinamar, and they rent it out,” he says, so if the owners return from holidays there would no longer be supply to respond to prolonged demand. For the General Manager of Izrastzoff, the exception is marked by weekend houses: “Temporary rentals stop when classes start unless there are some weekend houses left, especially in Pilar, which is where there are more and they can be up until March inclusive”.