The price of square meter in Buenos Aires it is on the rise. So much so, that already It is the fourth city with the highest price in the region. Eight months ago, it was in sixth place.
These data come from a report by the Finance Research Center (CIF) from the Business School of the Torcuato Di Tella University carried out in conjunction with Zonaprop. According to the Real Estate Survey of Latin America (RIAL Di Tella – Zonaprop), the cities with the most expensive square meter in the region are Montevideo (US$3,454), Mexico City (US$2,706), Monterey (US$2,561) and Buenos Aires (US$2,540).
On the contrary, the cities with the most accessible square meter are Quito (US$1,215), Cordova (US$1,528), Rosary (US$1,547) and Panama (US$1,761).
The price of the square meter rises in Buenos Aires
Córdoba and Rosario remained stable in the ranking compared to March 2024. Meanwhile, Buenos Aires was ranked among the four most expensive cities, with an average price of US$2,540 per m2. In this way, it rose two positions compared to March 2024 and three compared to September 2023. Compared to March 2024, The square meter in Buenos Aires had a price variation of 4.7%.
On average, prices in Latin America decreased by 2.3% in nominal dollars, 3.2% in real dollars and registered no change in real local currency. That is, the amount necessary to acquire a square meter decreased in dollar bills and in inflation-adjusted US dollars, while it remained stable in local currency adjusted for inflation.
Higher and lower price increases in Latin America
Measured in nominal dollars, the city in which there was the largest percentage increase in price was Cordova (5.3%). For its part, the biggest falls occurred in Santiago de Chile (-10.6%), Monterey (-9.7%) and Guadalajara (-9.6%) in the last semester.
Valued in real local currency, the cities with the largest increases are Montevideo (9.9%) and Saint Paul (5.2%). On the contrary, the biggest falls were in Santiago de Chile (-16.1%), Rosary (-5.9%) and Buenos Aires (-5.3%).
The survey reports the price per square meter of apartments in neighborhoods of 13 cities in 8 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 notices on websites.
In those cities where prices are usually expressed in local currency, they were converted to dollars using the average exchange rate of the survey month, according to Reuters. To convert Argentine prices to pesos, since September 2019, the MEP exchange rate (electronic means of payment) has been used, which arises from the intermediation of bonds in the stock market.
Source: Ambito
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