He real-estate market in Latin America goes through constant changes. Currently, cities with square meter most expensive in the region are Montevideo (3,289 dollars), Mexico City (2,981 dollars), Monterrey (2,836 dollars), Santiago de Chile (2,707 dollars), Guadalajara (2,644 dollars) and Buenos Aires ($2,427).
These data come from the Latin American Real Estate Survey carried out by the Finance Research Center (CIF) of the Business School of the Torcuato Di Tella University in conjunction with Zonaprop.
On the contrary, cities with square meter The most accessible in the region are Quito (1,195 dollars), Bogotá (1,295 dollars), Córdoba (1,452 dollars) and Rosario (1,488 dollars).
Buenos Aires dropped to sixth place among the most expensive cities
While Córdoba and Rosario remain stable in the ranking compared to March of the previous year, Buenos Aires It fell to sixth place among the most expensive cities, with an average price of $2,427/m2, one place higher than in September of the previous year and three places below March 2022, when it was among the three most expensive cities. Compared to September 2023, the square meter in Buenos Aires had a variation of 2.9%.
Prices in dollars rose Latin America
On average, prices in Latin America They rose 3.1% in nominal dollars, 1.6% in real dollars and fell 6.6% in real local currency. That is, the amount necessary to acquire a m2 increased in dollar bills and in US inflation-adjusted dollars and decreased in local currency adjusted for inflation.
Measured in nominal dollars, the city in which there was the greatest percentage increase in price was Santiago de Chile (8.3%). For its part, the largest falls occurred in Rio de Janeiro (-1.7%), Lima (-1.5%) and Quito (-0.6%) in the last semester. Valued in real local currency, the cities with the greatest increases are Santiago (15.8%) and San Pablo (4.1%). On the contrary, the biggest falls were in Buenos Aires (-33.5%), Rosario (-32.8%) and Córdoba (-31.4%).
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The survey reports the price per square meter of apartments in neighborhoods in 14 cities in 9 Latin American countries that are comparable to what Barrio Norte, Belgrano, Caballito and Recoleta are in Buenos Aires. The calculation is made from the price requested in the sales notices on websites.
In those cities where prices are usually expressed in local currency, they were converted to dollars using the average exchange rate of the month of survey, according to Reuters. In the case of Chile, the average value of the Development Unit reported by the Central Bank of Chile was used. To convert Argentine prices to pesos, the MEP exchange rate that arises from the intermediation of bonds in the stock market was used. This is the most precise measure of the free and legal exchange rate.
