What are the most expensive neighborhoods to live in Latin America?

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Each city has its exclusive neighborhood, but here we highlight the most expensive in the region

What are the most expensive neighborhoods to live in Latin America?

Properati, a company dedicated to real estate monitoring in Latin America with presence in Argentina, Brazil, Chile, Mexico, Peru and Uruguay, recently purchased by OLX, conducted a study to determine which are the most expensive neighborhoods in Latin America. This study was carried out comparing the prices per square meter in 2 and 3 room apartments in different areas. Here at LatinAmerican Post we present you the results.

Leer en español: ¿Cuáles son los barrios más caros para vivir en Latinoamérica?

1. Puerto Madero, located in the city of Buenos Aires (Argentina) is the most expensive neighborhood in the entire region at a cost of USD 7,038 per square meter. Also, this figure is the one that has reported the highest growth in the last 4 years, compared to the other neighborhoods on the list that maintain more or less stable prices.

According to Gabriel Gruber, Properati's executive director, what makes this neighborhood so expensive is, first of all, that there is "a certain profile of people who are in politics, someone who values security, privacy, people who works in the center and wants to be close, but it's not a typical neighborhood of Buenos Aires, you do not see a butcher shop or a kiosk, it's a special neighborhood." That is why Puerto Madero does not have any land for sale.

2. Ipanema is located second in the list in Rio de Janerio (Brazil). There, the cost per square meter is 6,668 USD. What makes this neighborhood so expensive are its beaches, some of the best known in Brazil, which make the place a tourist center.

3. Ipanema is followed by Vila Nova Conceiçao in Sao Paulo (Brazil) where the square meter costs 4,974 USD. Regarding this neighborhood, Renata Mendoça, journalist for the BBC in Brazil, points out that "When you walk through the streets of Vila Nova Conceiçao you may not have the feeling of being in one of the most expensive neighborhoods in Latin America. It is quite 'new' in Sao Paulo, where the rich of the city have migrated and the demand has raised the values." Another attraction of the area is that there is the Ibirapuera Park, the most visited of the city.

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4. Fourth, we found Vitacura in Santiago de Chile with a square meter of USD 4,114, a figure that has doubled in the last three years. Unlike the three previous neighborhoods, this is a residential neighborhood where tourism is scarce. Thus, what caused the valuation of this neighborhood, according to Gruber and the BBC, was the real estate boom boosted by retirement investment funds.

5. The fifth place is occupied by Carrasco in Montevideo (Uruguay) with a square meter of 3,518 USD. What makes this neighborhood so exclusive is its location between the Río de la Plata and the Carrasco stream, along with the fact that it has extended to Miramar, an exclusive area of the city where an iconic hotel now turned into the Naval School operated.

6. The sixth place is occupied by Lomas de Chapultepec in Mexico City (USD 3.449 per square meter) converted in recent years, according to the Hello DF portal, in the main business center of both Mexican companies and large multinationals.

Next we found the San Isidro residential neighborhoods in Lima (Peru) with a square meter of 2,422 USD and El Chicó in Bogotá (Colombia) with a square meter of 2,170 USD, both characterized by their safety and family atmosphere.


LatinAmerican Post | Sofía Carreño

Translated from "¿Cuáles son los barrios más caros para vivir en Latinoamérica?

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