The data corresponds to a new measurement carried out by the Torcuato Di Tella University of Argentina in 13 cities in 8 countries.
A new real estate survey of Latin America published this Tuesday by the Center for Financial Research (CIF) of the Business School of the Torcuato Di Tella University (Argentina), continues to place Montevideo as the city with the most expensive apartments in the region.
In September 2024, the value of a square meter in the capital of Uruguay was US$ 3,454 m2, the highest among the 13 cities surveyed. Between March and September, the price rose 4% in real dollars and 9.9% in real pesos (adjusted for inflation), according to this survey.
Montevideo has been at the top of this ranking since September 2022 when, with a value of US$ 3,054 m2, it displaced Chile to second place with a price of US$ 2,724 m2.
The Latin American real estate survey reports the price per square meter of apartments in neighborhoods in 13 cities located in 8 countries, and which are comparable to Barrio Norte, Belgrano, Caballito and Recoleta in Buenos Aires.
In Uruguay, the Buceo, Parque Rodó, Pocitos and Punta Carretas neighborhoods were surveyed, according to the report to which El Observador had access. These are neighborhoods where young professionals typically live, it is explained. The values do not constitute transaction prices, but are the prices requested by the seller, as they arise from the classified ads published on websites.
EXPENSIVE AND CHEAPER CITIES
Currently, the second most expensive city in the region is Mexico City, with a price of US$ 2,706 m2. The ranking of the first three most expensive places prepared by Torcuato Di Tella is completed by Monterrey, which has a value of US$ 2,561 m2.
The fourth position is now occupied by Buenos Aires, which climbed from sixth place six months ago. The latest survey showed that the Argentine capital had a price of US$ 2,540 m2.
In the next position comes the capital of Chile, which fell one step and reported a price of US$ 2,420 m2.
At the end of the table, the cities with the lowest prices are Quito in Ecuador with US$ 1,215 m2, Córdoba in Argentina with US$ 1,528 m2, Rosario also in the same country with US$ 1,547 m2, and Panama City with US$ 1,761 m2.
Other cities such as Guadalajara, Sao Paulo, Rio de Janeiro and Lima remain in the middle of the ranking, with prices ranging between US$ 2,098 m2 and US$ 2,389 m2.
PRICES IN BUENOS AIRES
Prices in Buenos Aires rose 3.7% in real terms in dollars and fell 5.3% in real terms in Argentine pesos between March and September of this year. The latest value recorded was US$ 2,540 m2 for the Argentine capital.
To convert Argentine prices into pesos, the MEP (electronic means of payment) exchange rate, which arises from the intermediation of bonds on the stock market, has been used since September 2019. This is the most accurate measure of the free and legal exchange rate.