Short term rentals and the volume of properties being offered over the internet continues to increase due to demand from the huge influx of visitors and part-time residents. Results from a survey carried out by ‘Reporte Inmobilario’ show that there are now 672 properties in various neighborhoods offering this type of rental.
These furnished apartments, aimed at tourists or short term visitors to the city, have developed into a new kind of business venture, offering an alternative to the traditional long term rent.
The areas which attract these kinds of visitors to Buenos Aires are San Telmo, El Centro, Barrio Norte, Recoleta, Palermo and some areas of Belrano. According to the survey carried out on weekly rentals and monthly rentals of furnished apartments in these five areas, the neighbourhood of Barrio Norte / Recoleta attracted 36% of the total, followed by Palermo, with 31%.
In the area of ‘El Centro’ the rental income is somewhat lower, in the region of 600 U$S per month for a Studio. However, in Puerto Madero the rental income is significantly higher, a one bedroom apartment demands around 1000 U$S per week or around 3000 U$S for a month.
