Of 14 cities in Latin America, three cities in Mexico stand out among the cities with the apartment pricemeasured per square meter, the highest in the region, according to the Real Estate Survey of Latin Americaprepared by the Business School of the Torcuato Di Tella University of Argentina in conjunction with Navent.
According to the report, which presents figures as of March of this year, out of six Latin American cities with the highest price per square meter of apartments, the highlights Mexico City, Guadalajara and Monterrey. Here the top 6:
| City | Price per square meter to the first quarter of 2023 |
| Montevideo, Uruguay | $3,146 |
| Santiago, Chile | $2,915 |
| Mexico City (CDMX) | $2,531 |
| Buenos Aires, Argentina | $2,362 |
| Monterrey Mexico | $2,329 |
| Guadalajara Mexico | $2,299 |
| Fountain: | Real Estate Survey of Latin America |
This record contrasts with the result of March of last year, where only CDMX was positioned within the six Latin American cities with the higher prices per square meter of apartments. That is, within a year, the square meter of apartments in Mexico City it had an appreciation in its value of 6.61%, while in Monterrey the increase was 26.44% and in Guadalajara 37.58 percent.
According to the SHF Housing Price Index, last March the housing prices acquired with a mortgage credit in CDMX it increased 13.1% compared to the same period in 2022, while in Monterrey the growth was 11.5% and in Guadalajara, 13.2 percent.
effects
For Jorge Paredes, president of the real estate firm Realty World, these three cities have a particular situation that makes the price of housing, or departmentsis greatly appreciated.
For example, in Mexico City, the little construction of housing and the demand, which is strengthened by the arrival of foreigners to the city, causes the price to increase considerably.
“Mexico City has been benefiting from the phenomenon of gentrification, especially with rental housing, and that, at the end of the road, encourages housing investors to buy. So, rental housing is a factor on the aggregate demand for housing,” explained Paredes.
Regarding Monterrey, the director of Realty World highlighted that the arrival of Foreign Direct Investment to Nuevo León has boosted the demand for housing, which also causes the price of homes to appreciate.
“The effects of the arrival of large amounts of money in manufacturing, the effect of Tesla will bring an additional demand, not only in housing for rent but also for sale,” said Paredes.
According to the Real Estate Survey, the average per square meter in apartments of Latin America was located last March at 2,059 dollars, that is, a reduction of 6.5% compared to the same period in 2022.
