Research

Buenos Aires Retail Report, H1 2021

One year into the pandemic, retail is clearly one of the most affected sectors of the real estate market in Argentina.

In the first quarter of 2020, before COVID-19 hit, the number of surveyed stores for rent was 38 (with a vacancy rate of 2.7%); at the end of the year, that number had increase to 94 (6.8%).

The general average price amounted to USD 25.5 per square meter in the second quarter of 2018, and currently stands at USD 13.5 per square meter; that is, it suffered a 47% decrease in the space of three years.Furthermore, comparing the current period with the first quarter of 2020 (before the pandemic), average market rents declined by 11.7%.

 

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