Santiago de Chile and Mexico City are the two most expensive cities in Latin America in prices of new home, according to a report by Tinsa, a company specializing in real estate consulting, analysis and valuation.
Between January and March of this year, housing in the middle segment had an average price of 102,456 dollars in the first city and 101,479 dollars in the second, that is, approximately 2 million pesos.
While in Lima and Bogotá, the average home cost an average of 98,538 and 90,581 dollars, respectively; that is, 1.9 and 1.8 million pesos.
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residential housing
As for residential housing, Mexico City it is the most expensive in Latin America, with an average price of 189 thousand 430 dollars; 3.7 million pesos.
It is followed by Lima, with 170 thousand 841 dollars; and then Santiago de Chile, 164 thousand 696 and Colombia, 161 thousand 788 dollars.
In luxury housing, Mexico City is also the most expensive, with an average price of 748 thousand 635 dollars, that is, 14.9 million pesos.
In second place, Santiago de Chile, with a cost of 615 thousand 694 dollars; In third place is Bogotá, 590 thousand 640 dollars and in fourth Lima, where the price is around 527 thousand 946.
As for luxury houses, the highest value per square meter was detected in the capital of Chile and was 3,657 dollars; while the most accessible average price was located in Peru, with 1,623 dollars.
The luxury apartments with the highest price are in Mexico City, with 4,201 dollars per square meter (84,000 pesos), while the most affordable are located in Lima, with 2,680 dollars.
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“If we talk about habitable surface, the largest houses in the luxury segment are located in Mexico, with an average surface of 323 m2, while Santiago presents the smallest, with 189 m2 for this same segment,” he explained. Marisol Becerra, Consulting Director of Tinsa Mexico.
According to reporte Residential Market Overview de Tinsabetween January and March, 160 thousand 531 new available homes were reported in the four main cities of Latin America, 6.8% more than the same period of the previous year.
“In terms of sales, the capitals of Chile and Peru report 51% and 38% of their units sold in the middle segments, but in Mexico the economic housing section reports a 35% drop in sales due to the lack of supply and new projects in this segment”, added Becerra.
The study revealed that 90% of the available housing corresponds to apartment buildings, while 10% to houses.
The largest inventory available in Latin America it is concentrated in the middle-income segment, with 35% of the stock.
While the residential and residential plus segments represent 33% of the inventory; and in terms of the luxury segment, they are equivalent to 6%, according to the information included in the Tinsa report.
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