A report recently published by Zonaprop analyzed how many days an employee has to work in order to currently rent a property
Paying the rent can be quite an ordeal in some cases, while in others it can be an easier task.
Now do we ever wonder how many days do you have to work to pay rent for a property? Probably not, that is why Zonaprop has produced a report that seeks precisely to answer this question.
The latest published report indicates that the rental of a 2 rooms of 50 square meters with a balcony of 5 square meters, in the City of Buenos Aires, is located in $ 37,575 per month.
Likewise, the average salary requested by users, according to the latest data from the Bumeran job portal, is $ 76,575. Using these values as a reference, the calculation indicates that the rent represents the 49.1% of salary average and what is needed 14.72 working days approximately to get to pay it.
Rental prices were significantly increased due to circumstances specific to the Argentine market and economy, which had a full impact. On the one hand, after one year of the approval of the rental law, the properties accumulate a rise of 71.3%.
To pay the rent it is necessary to work more days than in 2020
The legislation determined a new way of updating prices, which is established annually, based on an index proposed by the Central Bank that considers variations in inflation and wages in equal parts, that is, it is composed of the Index of Consumer Prices (CPI) and the Average Taxable Remuneration of Stable Workers (RIPTE).
Rentals vs. inflation
Currently, according to the analysis of Daniel Bryn, founder of Invertire Real Estate and real estate market analyst, the index is likely to lag behind inflation. “At the moment, the index shows a 34% increase in 11 months of publication, when the inflation (CPI) in the last 12 months was 44.20%, the UVA increase 43.93% and the RIPTE increase. , the average salary employed in a dependency relationship, increased by 33% “, explains the expert.
Also, within the framework of the economic measures that were taken due to the coronavirus pandemic, rental prices remained frozen for twelve months. Then, after the end of the National Emergency Decree, as the specialists anticipated, prices rose. In that scenario, you can see that the interanual variation of the ratio between rents and wages indicates that 36.72% more must be worked in 2021, that is, almost 4 more days.
Rents have risen after prices were thawed
In all neighborhoods there is an increase in the value of the rent greater than 50% year-on-year. However, Puerto Madero leads as the most expensive with an average price of $ 75,235 per month. In this case, you must work 29.48 days a month to be able to cover the expenses and, even, the rent exceeds the expected average salary. While, Lugano ranks as the cheapest neighborhood with a price of $ 20,318 per month, which means that with only 7.98 days of work, the rent can be paid.
On the other hand, according to each type of seniority, the number of days to work varies. The median salary required for a Junior position is $ 55,503 per month. Therefore, in your case the payment of the rent is reached with 20.31 working days. A person with a semi-senior position, with a required salary of $ 75,108 pesos, needs to work 15.01 days. Finally, those who occupy roles such as bosses or supervisors and seek salaries that average $ 122,132 can pay the rent of a two-room apartment in just 9.23 days.