According to a ranking presented by Properati and Trovit, four Colombian neighborhoods are part of the top 20 most expensive to live in Latin America, in which the square meter price for sale in the most exclusive areas of the region.
The boy, located in the northern part of the town of Chapinero in Bogotá, is in 14th place with an average price of $1,611 per square meter. Then, in box 16, there is El Poblado, in Medellinwith a cost of 1,183 dollars per square meter.
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Further down, in 19th place, with a value per square meter of $987, is Pance, located in the south of Cali, known for being a mainly residential area. El Prado, in the historic center of Barranquilla, closes the ranking in 20th placewith 604 dollars per square meter.
All these sectors, with the exception of Pance, are part of the geographical epicenter that welcomes thousands of people who visit its hotels, business rooms, nightclubs and haute cuisine restaurants.
With respect to 2021, the price per square meter in dollars decreased by 33 percent in El Chicóin Pance it fell 29 percent, while in El Poblado and El Prado the decrease was 15 percent in each neighborhood.
However, in the same period the value of the square meter, in Colombian pesos, rose in all Colombian neighborhoods except Pance. This is due to the devaluation of the peso against the dollar..
Although home prices rise in the local currency, they do not exceed the 28 percent that the dollar has become more expensive and for that reason they are cheaper in foreign currency.
The most expensive neighborhoods in Latin America
Puerto Madero, on the banks of the Río de La Plata, continues to be the most expensive neighborhood in Latin America with an average cost of $5,921 per square meter. The port area, located in the capital of Argentina, has led the ranking in the last five years.
Complete the ranking podium, Ipanema (Rio de Janeiro) with an average value of 4,028 dollars per square meter and Vitacura (Santiago) with 3,570 dollars. They are followed by Del Valle (Monterrey metropolitan area) and Vila Nova Conceição (Sao Paulo, Brazil) with a price per square meter of $3,566 and $3,404, respectively.
The ‘top 10’ is closed by neighborhoods located in Montevideo, Guadalajara, Mexico City, Rosario and Panama City.
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The evolution of prices
Of the 20 neighborhoods in this ranking, 15 presented a decrease in the average price level per square meter in dollars compared to 2021 due to annual devaluations of local currencies from Argentina (52 percent), Colombia (28 percent) and Chile (14 percent). In the rest of the countries, currencies appreciated.
In order to understand the variation of prices, it is necessary to consider the intersection of factors such as the increase in construction expenses, interest rates and the geopolitical state of 2022. Only Ipanema (Brazil) and Samborondón (Ecuador) register a 5 percent growth in the average price per square meter.
LINA QUIROGA BLONDE