A recent report from a real estate agency revealed what are the most expensive and exclusive neighborhoods in Latin America in 2023, and to the surprise of many, the main place is not in Chile or Mexico, but in Argentina. Despite inflation exceeding 140% per year in the country, Puerto Madero, in Buenos Aires, remains the most exclusive neighborhood in the region.
The full analysis held in nearly 50,000 properties in the most select areas of 20 cities across the continent. Despite the annual decline of the local currencies of Argentina, Colombia and Chile, the neighborhoods of these three countries show negative percentages of changes in the price of the dollar.
In the case of Puerto Madero, despite a 1% decrease in the average price compared to last year, this neighborhood leads the exclusive ranking in Latin America for the last five years. This is due to the devaluation of the Argentine peso against the dollar, which led to an increase in house prices in local currency, although they did not exceed the 52% depreciation of the dollar last year, which made them cheaper. in foreign currency.
These are the average prices per square meter of the 10 most expensive neighborhoods in Latin America in 2023:
- Puerto Madero, Buenos Aires – US$5,921
- Ipanema, Rio de Janeiro – US$4,028
- Vitacura, Santiago de Chile – US$3,570
- Del Valle, Monterrey – US$3,566
- Vila Nova Concepción, San Pablo – US$3,404
- Carrasco, Montevideo – US$3,003
- Puerta de Hierro, Guadalajara – US$2,900
- Bosques de las Lomas, Mexico City – US$2,639
- Las Malvinas, Rosario – US$2,250
- Costa del Este, Panama City – US$2,249
Puerto Madero, located in Buenos Aires, is characterized by tourist attractions, luxury penthouses, ecological reserves and the iconic Puente de la Mujer. In addition, it stands for a high level of security. The neighborhood is home to the tallest residential building in South America, which is more than 204 meters tall, surpassed only by the Gran Torre Costanera in Santiago de Chile, dedicated to offices and commercial areas. In Puerto Madero, the price of an apartment in the highest part reaches 6 million dollars.
This report sheds light on the luxury real estate market in Latin America, where despite economic volatility in the region, Puerto Madero remains a prime destination. level for investors and lovers of exclusivity.