Some of the most expensive neighborhoods in Latin America are experiencing rising prices per square meter, representing a continued recovery from the depressed real estate prices seen in 2020 due to the global pandemic.
According to a study by Properati – a real estate platform active in Argentina, Colombia, Ecuador, Peru, and Uruguay – only three of the top ten saw prices rise in 2023.
Only Del Valle in Monterrey and Carrasco in Montevideo registered significant increases in prices per square meter, with the former rising to second place overall.
Colombia stood out for high price rises, with Poblado in Medellín jumping by 43% and Chicó in Bogotá registering a 27% rise to remain top in-country at just over USD$2000 per square meter.
Puerto Madero, in Buenos Aires, remained the most expensive neighborhood in the region by a significant margin.
The study of the most expensive neighborhoods in Latin America includes a total of 16 exclusive neighborhoods and separately lists the 16 most expensive middle class neighborhoods.
According to the study’s authors, it is based on an analysis of 35,000 properties in different cities around the region, with those gathered in countries where Properati does not do business – such as Brazil, Chile, and Mexico – obtained from external sources but verified internally.
A mixed outlook: middle class areas fare worse
In some countries, such as Chile and Colombia, there has been a steady and sustained growth in housing prices, especially in major cities. This is due to the increasing demand for housing, both from the local population and foreign investors. In addition, housing supply has not always been able to keep pace with demand, which has led to an increase in prices.
Several Latin American countries have experienced a decline in housing prices in recent years. Some of them are:
Argentina: The economic crisis and recession affecting the country have caused a decrease in housing prices in general.
Brazil: The Brazilian real estate market has also experienced a reduction in housing prices due to the economic recession that the country has suffered in recent years.
Colombia: Although there has been an increase in housing construction in recent years, this has led to a saturation in the market and a decline in housing prices in some areas.
Chile: In some sectors of Chile, especially in Santiago, there has been a decline in housing prices due to an oversupply of properties.
Biz Latin Hub can help with property in the most expensive neighborhoods in Latin America
At Biz Latin Hub, we assist corporations and investors doing business in Latin America and the Caribbean, with offices staffed by local teams of professionals in 15 countries as well as Puerto Rico.
We provide integrated packages of market entry and back office services tailored to individual needs, and our portfolio includes accounting & taxation, company formation, corporate legal services, hiring & PEO, and visa processing.
We also assist with property purchases, so if you are interested in investing in one of the most expensive neighborhoods in Latin America, and we have an office in that city, we can assist you. We can also help you apply for residency through real estate investment in markets where that is allowed.
Contact us today to find out more about how we can help you.
As informações fornecidas aqui não devem ser interpretadas como orientação ou aconselhamento formal. Consulte um profissional para sua situação específica. As informações fornecidas são apenas para fins informativos e podem não abranger todas as leis, padrões e práticas recomendadas pertinentes. O cenário regulatório está em constante evolução; as informações mencionadas podem estar desatualizadas e/ou podem sofrer alterações. As interpretações apresentadas não são oficiais. Algumas seções baseiam-se nas interpretações ou pontos de vista de autoridades relevantes, mas não podemos garantir que essas perspectivas serão apoiadas em todos os ambientes profissionais.
La información que aquí se ofrece no debe interpretarse como orientación o asesoramiento formal. Por favor, consulte a un profesional para su situación específica. La información proporcionada tiene únicamente fines informativos y es posible que no recoja todas las leyes, normas y mejores prácticas pertinentes. El panorama normativo está en continua evolución; la información mencionada puede estar obsoleta y/o sufrir cambios. Las interpretaciones presentadas no son oficiales. Algunas secciones se basan en las interpretaciones o puntos de vista de las autoridades pertinentes, pero no podemos garantizar que estas perspectivas se respalden en todos los entornos profesionales.
The information provided here within should not be construed as formal guidance or advice. Please consult a professional for your specific situation. Information provided is for informative purposes only and may not capture all pertinent laws, standards, and best practices. The regulatory landscape is continually evolving; information mentioned may be outdated and/or could undergo changes. The interpretations presented are not official. Some sections are based on the interpretations or views of relevant authorities, but we cannot ensure that these perspectives will be supported in all professional settings.
Craig Dempsey
Craig is a seasoned business professional in Latin America. He is the Managing Director and Co-Founder of the Biz Latin Hub Group that specializes in the provision market entry and back office services. Craig holds a degree in Mechanical Engineering, with honors and a Master's Degree in Project Management from the University of New South Wales. Craig is also an active board member on the Australian Colombian Business Council, and likewise also active with the Australian Latin American Business Council.
Craig is also a military veteran, having served in the Australian military on numerous overseas missions and also a former mining executive with experience in various overseas jurisdictions, including, Canada, Australia, Peru and Colombia.
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