Buenos Aires is the second most expensive city in Latin America to buy property

With an average value of US $ 2,413 per square meter and still with a downward trend, Buenos Aires (CABA) is the second most expensive city in Latin America to buy property, Compared to other places in Argentina, Brazil, Mexico, Peru, Ecuador and Panama.

Currently, Monterrey, Mexico, is the city that occupies the first place of this price ranking for the region, with a cost per square meter of US $ 2,422,

The capital of Panama, meanwhile, is in third place in sales rankings, with $ 2,062 per m2. It is followed by Mexico City (US $ 1,922) and Guadalajara (US $ 1,897), according to a regional study carried out by the real estate portal Zonaprop.

In the middle of the podium are: São Paulo (US $ 1,789), Rio de Janeiro (US $ 1,652), Rosario (US $ 1,620), Lima (US $ 1,609), Curitiba (US $ 1,372) and Quito (US $ 1,284). While the cheapest to buy a property are Belo Horizonte (US $ 1,016) and Córdoba (US $ 1,204).

During the pandemic, house prices in the region reacted differently, according to this analysis by change of original currency real estate notices. Curitiba stands out as the city that recorded the highest increase in value (+ 16%) between December 2019 and July 2021.

Behind were Lima (15%), Guadalajara (13%) and Monterrey (10%). In turn, São Paulo (6%), Belo Horizonte (2%) and Rio de Janeiro (2%) in Brazil also posted increases.

In Argentina, the city of Córdoba is the one that suffered the biggest fall price in Latin America (-18%) of the pandemic. CABA and Rosario recorded a drop of 12 and 9%, respectively. It was followed in the trend by Panama (-5%), Quito (-4%) and Mexico (-3%).

An important fact that the study highlighted is that with the exception of the Mexican capital, all the squares that name the values ​​of their properties in local currency (Brazil, Peru and Mexico), recorded an increase in the nominal price during this period.

Regarding the reasons why Monterrey is presented as the most expensive city in the region when buying real estate, the platform explained that “it is about a modern city with a great infrastructure and an important techno-industrial pole, perhaps the most developed in Mexico ”.

At the same time, it has exceptional universities, such as the Tecnológico de Monterrey, and a notable influence of North American cities in its development. “On another side, its population has a high per capita income, a large middle class, many in search of co-ownership, which favors a good scenario for the development of its real estate market ”, they analyzed in ZonaProp.

How have the selling prices in dollars in Latin America evolved? When measuring the dollar values units for sale, according to the exchange rates corresponding to each country, the Zonaprop report indicates that the Mexican cities of Guadalajara (+ 23%), Monterrey (+ 20%) and Mexico City (+ 6%) are the ones registering an increase most important in the last 19 months. In addition, these are the only places that currently reflect dollar prices above pre-pandemic levels.

However, the rest of the places in Latin America show a decrease in their dollar costs. In this sense, Rio de Janeiro is the capital with the largest drop in value (-21%) followed by Belo Horizonte (-20%), Córdoba (-18%), São Paulo (-17%), City of Buenos Aires (-12%), Rosario (-9%) and Curitiba (-9%). In the middle zone of this ranking are Lima (-6%), Panama (-5%) and Quito (-4%).

Another recent survey by the University of San Andrés, with data provided by Mercado Libre real estate listings, showed that in September, prices continued to fall. In the Buenos Aires metropolitan area (AMBA), this drop was 1.3% for houses and 0.8% for apartments, compared to August 2021. ET In the year, the selling price per m2 of houses has accumulated a decrease of 4.4%, and 7.3%, in apartments.

Distinguishing between the different zones, there were decreases in houses of 4.7% in CABA, 7.2% in GBA North, 4.5% in GBA South and an increase of 3.1% in GBA West (because they had previously fallen by 15.2% between May 2019 and the same month of 2020).

On the other hand, the decreases in the selling price of apartments, compared to September 2020, in CABA and GBA Norte, Sur and Oeste were respectively 8%, 6%, 7.6% and 5.7%.

BORN