Monterrey's housing is the most expensive in Latin America
During the last six months, housing prices in Monterrey increased 6.8%, while in Santiago de Chile, the city with the highest costs, fell 4%.
Mexico's main cities are the ones with the highest increase in housing prices in Latin America, according to data from the Universidad Torcuato Di Tella in collaboration with Inmuebles24.
Of the only six metropolises in the region with an increase, Monterrey ranked first with 6.8%, Guadalajara second with 5.4%, and Mexico City in sixth place with 1.5%. Although its increase was the smallest, the country's capital continues to be the fourth metropolis in the region with the highest value.
Its cost as of September 2021, per square meter, was US$ 2,420, while Santiago de Chile, the most expensive, was quoted at US$ 3,441. Between the two cities are Montevideo, Uruguay, and Buenos Aires. "On average, prices fell 1% in nominal dollars, 4.4% in real dollars, and 3.8% in real local currency," the institution's report indicates.
In October 2020, 65-square-meter apartments were priced at 3,110,430 pesos. This year, the cost rose to 3,337221 pesos, which represents a 7.3% increase in this particular type of property. The consulting firm Tinsa said that during the last few years, the market has become more dynamic due to the development of the industry.
