A recent report by real estate company Properati reveals what the most expensive neighborhood and exclusive area of Latin America is, a region full of contrasts. To do this, they examined nearly 50,000 properties in the most selective areas of 20 cities across the continent.
Argentina has the most exclusive neighborhood in the region despite inflation exceeding 140% per year, according to official data, followed by Brazil and Chile.
The study finds that “Argentina, Colombia, and Chile are the economies that show annual devaluations of their local currencies. The selected neighborhoods in these three countries show negative percentages of price changes in dollars.
Puerto Madero is the most expensive neighborhood in Latin America. Photo: Deensel/Flickr
What is the most expensive and exclusive neighborhood in Latin America?
The average price of Madero Port It decreased by 1% compared to last year, although it is important to note that this neighborhood has led the ranking for the past five years.
“At the same time, the price per square meter, in Argentine pesos, has increased in all Argentine neighborhoods. This is due to the devaluation of the peso against the dollar. Although housing prices have increased in local currency (percentage increase over more than 30%), they do not exceed 52% that the dollar has become more expensive in the past year, and because of that, they are quoted as cheaper in foreign currency, “clarifies the report.
Ipanema, in Rio de Janeiro, is the second neighborhood on the list. Photo: Global Mansion
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
- Iron Gate, Guadalajara US$2,900
- Places called Bosques de las Lomas in Mexico US$2,639
- Las Malvinas, Rosario. US$2,250
- Costa del Este, Panama City. US$2,249.
Where is Puerto Madero, and how much does a house cost?
Located in Puerto Madero, Buenos Aires It is characterized by its tourist attractions, penthouses, ecological reserves, and the Women’s Bridge. Similarly, it has great security. There is even the tallest building in the department of South America, which is more than 204 meters high.
This structure surpasses only the Gran Torre Costanera, located in Santiago de Chile, with 300 meters. However, it is dedicated to offices and commercial areas. The price of one of the apartments in the upper part is $6 million.