“If I had that money to rent all summer, I would make a house in the same country,” the driver Migue Granados ironized in a hilarious viral after they passed him the price of the fifth house that he rented every year with his family.
It was October and the change in trend forced by the pandemic led many to seek properties in fifths, and values soon soared.
Granados then said that with his wife and daughter they had rented that same house for the last 4 years. “First the rent was 10, then 20, 40 and now I asked for a number for this summer due to the great demand there is,” he explains in the video, and soon reveals: “9,000 dollars a month they passed me! One and a half million pesos per month.”
The craze for properties in open areas, surrounded by green, with a swimming pool, was replicated on the Coast. “Many owners understood that if in the countries the houses had these values, logically in Pinamar they would have to be more expensive,” a real estate agent from the exclusive Buenos Aires spa explained to this newspaper.
Thus, in the middle of a season marked by the pandemic, with controls and protocols of all kinds, limitations and operators trying to adapt the values, properties appeared in Pinamar with rates as hilarious as the video of Granado.
The houses in Pinamar were anchored to the dollar. Photo: Fernando de Orden / Special Envoy
Although there were fewer properties for rent than other years, estimated at 35%, because many owners who did not leave the country this year decided to use it for their vacations, in Pinamar the offer is still very wide.
In Cariló, these days with an occupancy of 90%, the values from one year to another had initially been set with an increase of 40%. Then, when the dollar moved a bit, the rates were readjusted by 10%.
The same happened in Pinamar and in its Valeria del Mar and Ostende satellites, which had set values above 30% and with the readjustment they finally reached 40%.
But not all owners set values guided by professionals. “There were cases in which owners in the country area had a lot of demand and when seeing the values that were published there (in the areas surrounding Caba), they considered that here they should be much higher. “
Thus, outside the real estate circuit there are houses on sale at disproportionate values, some more than double what a high-end property was charged for a month: new, 4 or 5 bedrooms, a block and a half from the sea in the area north. For example, for the entire month of January, that house was paid 8 thousand dollars.
The same in Villa de Mar, in the border area, those modern buildings parallel to the beach line that have all the amenities: 3 bedrooms, 2 garages, heated pool inside and outside the complex, beach service, restaurant, tennis court, security and the list goes on.
“The average, in pesos, that was paid for these units was one million pesos for January. There were cases of duplexes that reached slightly higher values, $ 1,400,000, “he explained to Clarion Eduardo Santoro, auctioneer for Emeese, a respected family business with 40 years in the real estate market.
Always at real estate values, the typical houses of Pinamar were rented from 200,000 to 450,000. The segment that was left out of the seasonal rental circuit was that of the smallest apartments. Santoro believes that it happened for two reasons, economic the first, whoever accessed them may have been directly affected by the pandemic, and because of the fear caused by staying in buildings, where perhaps the possibility of contagion increases.
The ones that did not work either were the proposals of the owners who set the values on their own, well above what the market suggested. “I understand that whoever did it did not rent, for example by asking for US $ 10,000 for a fortnight,” explained the auctioneer, who has 100% of the houses and 4-room apartments in his portfolio rented and 90% of the duplexes.
That is to say that through those houses you arrive to ask for more than double what was finally paid in a real estate.
Santoro understands that the boom was in October and that in November properties began to be published outside the circuit at very high values. “I understand that they must have been lowered, perhaps some have rented, and if so, there were few,” he said.
From an office in Cariló, a professional in the media tells that some of those properties were rented, but “because brokers passed them proposals, although none at the values they intended to charge.”
“It hurts,” they both agreed. “It is a value that is not real, so next year on which we base ourselves, on that, illogical, or for which people could really pay,” said the head of Emeese Properties.
His colleague from the forest, argues that it distorts the market and harms the destination. “Someone to whom they have tried to rent at those values, may well think that everything works in the same way here, and it is not like that.”