Buenos Aires is the fourth most expensive city in Latin America

Buenos Aires is the fourth most expensive city in Latin America. The data comes from the Real Estate Survey of Latin America in September prepared by the Center for Research in Finance (CIF) of the Business School of the Torcuato Di Tella University in conjunction with Zonaprop. According to the report, the value of the square meter in the City amounts to $ 2,421. The survey reports the price per square meter of apartments in neighborhoods of 14 cities in nine Latin American countries that are comparable to what in Buenos Aires are Barrio Norte, Belgrano, Caballito and Recoleta. The calculation is made from the price requested in the sales ads on websites, mostly belonging to Navent.De according to the analysis, the cities with the most expensive square meter in the region are Montevideo ($3,054), Santiago de Chile ($2,724) and Mexico City ($2,424). The most accessible, on the other hand, are Bogotá ($1,108), Quito ($1,204), Cordoba ($1,279) and Rosario ($1,490). 

Photo: RIAL Di Tella – Zonaprop.

Compared to September 2021, the square meter in Buenos Aires decreases by 6.8% and drops in the ranking to fourth place. Santiago de Chile also suffers a decrease in the price per square meter of 20.8% and is displaced by Montevideo (4.5%) from the first place. Mexico City is also positioned above Buenos Aires with a slight increase of 0.2% in the last 12 months. On average, prices fell 1.3% in nominal dollars, 4.4% in real dollars and 1.3% in real local currency. That is, the amount needed to acquire one square meter fell into dollar bills, U.S. inflation-adjusted dollars and inflation-adjusted local currency.

The graph shows the percentage change in prices between now and March of this year. | Photo: RIAL Di Tella – Zonaprop.

When measured in nominal dollars, the city in which there was a greater percentage increase in price is Guadalajara (17.9%). On the other hand, the largest falls occurred in Santiago de Chile (-23.7%), Bogotá (-18.2%) and Buenos Aires (-5.8%). Valued in real local currency, the cities with the highest increases are Guadalajara (11.0%), Monterrey (5.0%) and São Paulo (2.9%). The largest falls were in Santiago de Chile (-17.6%), Bogotá (-9.2%) and Lima (-4.1%). 

Original source in Spanish