Argentina: Financial Considerations
by Going Global
Rents in Argentina are still considered low when compared to North America or European prices. However, the cost of renting has been on the rise in recent years. Housing costs overall – including utilities and taxes – are right in the middle when compared to other expat locations. Due to congestion and parking issues, most people use public transportation.
While rent in Argentina is very low by North American or European standards, it has been on the rise in the past few years. Some analysts have forecasted a 20 percent increase by the end of this year. According to consulting firm Reporte Inmobiliario, rents for two-bedroom apartments in Buenos Aires increased by 5.3 percent over a period of just three months earlier this year; three-bedroom apartments increased by 4.4 percent. Last year, the average rent for a three-bedroom apartment in Buenos Aires was nearly 1,800 ARS (434 USD) and prices increased by 11.8 percent. Rental demand is expected to continue due to the general unavailability of mortgage loans. In the nicer suburbs of Buenos Aires, one can rent a good house for approximately 3,000 to 6,000 USD (12,412 to 24,824 ARS) monthly. Xpatulator reports housing costs in Buenos Aires, including rent or mortgage payments, utilities and local property taxes, are average compared to other cities, ranking the city 160 out of 300 expat locations.
Due to road congestion and the high cost of parking in Argentina’s cities, most people utilize public transportation. Each of Argentina’s cities has urban bus, or colectivo, service. In Córdoba, Mendoza and Rosario, buses are supplemented with trolley buses which are powered by overhead wires. Buenos Aires has a subway system (known as Subte, short for subterráneo) as well as a network of commuter trains covering its suburbs.