Post by livinginmedellin on Jul 16, 2016 9:50:02 GMT -5
If you are looking for an apartment or house for rent in the Valley of Aburrá, note that the total supply decreased 3.5% in the first half of the year, but demand grew 10%. Get ready because rental prices will not fall.
"The analysis shows that between January and June, for the average lease in the Valley of Aburrá, rental prices had increased by 4.5% compared to 2015 data," explained yesterday, Jorge Agudelo Torres, director of Lonja de Propiedad Raíz de Medellín y Antioquia to El Colombiano.
With this trend, the expert believes that the increase in the price of rents will end the year up 8% compared to 2015.
Now, by looking at areas of the metropolitan area, rental houses and apartments are most in demand in Laureles, Belén and Boston.
In addition, municipalities like Bello and Envigado are dynamic. The latter, had 5,600 square meters available to June, and the level of market absorption was 75%.
The total square meters leased in the metropolitan area during the last quarter, 32.3% were in the Laureles neighborhood, meanwhile, 19.7% was in Belén.
60% of everything that was leased in the Valley of Aburrá in the first half of the year were rentals of less than 1.4 million pesos, which is still a much lower average price compared to Bogota
In total, in the Valley of Aburrá there is an offer to lease 80,058 square meters, of these, the greatest concentration is in Laureles-Estadio, with 17,256 square meters available and the time on market before being rented in Laureles-Estadio of three months, on average.
In comparison in pricey El Poblado there are 29,619 square meters for rent but the time on market before being rented is 11 months on average.
On average, to rent a home less than 15 years year old, it takes an average of 130 days in the Valley of Aburrá, while for homes older than 15 years, the average rises to 230 days.
Many tenants have not yet felt rent increases for 2016, which was caused by inflation in 2015, of 6.77% (landlords can increase rents by up to the inflation rate at renewal time), however, those that have already renewed contracts have seen an increase.
See (in Spanish): www.elcolombiano.com/negocios/vivienda-en-el-valle-de-aburra-arriendos-subirian-8-YC4576001
It is not surprising to me that the pricey El Pobaldo apartments take on average 11 months to lease.
"The analysis shows that between January and June, for the average lease in the Valley of Aburrá, rental prices had increased by 4.5% compared to 2015 data," explained yesterday, Jorge Agudelo Torres, director of Lonja de Propiedad Raíz de Medellín y Antioquia to El Colombiano.
With this trend, the expert believes that the increase in the price of rents will end the year up 8% compared to 2015.
Now, by looking at areas of the metropolitan area, rental houses and apartments are most in demand in Laureles, Belén and Boston.
In addition, municipalities like Bello and Envigado are dynamic. The latter, had 5,600 square meters available to June, and the level of market absorption was 75%.
The total square meters leased in the metropolitan area during the last quarter, 32.3% were in the Laureles neighborhood, meanwhile, 19.7% was in Belén.
60% of everything that was leased in the Valley of Aburrá in the first half of the year were rentals of less than 1.4 million pesos, which is still a much lower average price compared to Bogota
In total, in the Valley of Aburrá there is an offer to lease 80,058 square meters, of these, the greatest concentration is in Laureles-Estadio, with 17,256 square meters available and the time on market before being rented in Laureles-Estadio of three months, on average.
In comparison in pricey El Poblado there are 29,619 square meters for rent but the time on market before being rented is 11 months on average.
On average, to rent a home less than 15 years year old, it takes an average of 130 days in the Valley of Aburrá, while for homes older than 15 years, the average rises to 230 days.
Many tenants have not yet felt rent increases for 2016, which was caused by inflation in 2015, of 6.77% (landlords can increase rents by up to the inflation rate at renewal time), however, those that have already renewed contracts have seen an increase.
See (in Spanish): www.elcolombiano.com/negocios/vivienda-en-el-valle-de-aburra-arriendos-subirian-8-YC4576001
It is not surprising to me that the pricey El Pobaldo apartments take on average 11 months to lease.