A group of three real estate firms have released their latest report on Latin America’s most expensive neighbourhoods. Compiled by real estate firms Properati, Lamudi and Trovit, the report offers important takeaways on the real estate market around the region.

The report analysed data from Argentina, Mexico, Brazil, Uruguay, Chile, Colombia, Guatemala, Costa Rica, Panamá, Perú, Paraguay, Venezuela and Uruguay. Out of the 13 countries analysed, the top 10 most expensive neighbourhoods were found in five different countries: Argentina, Mexico, Brazil, Uruguay and Chile.

The analysis measured the average price per square meter of housing in 26 upper-class neighbourhoods of the 13 countries. Puerto Madero, in Buenos Airies, Argentina once again secured the top spot after it ranked No. 1 in 2022. 

Meanwhile, Ipanema in Brazil, which came in second last year, dropped one position to give way to Del Valle in Monterrey, Mexico, which had previously ranked at No. 4 in 2022. 

Colombia and Mexico were the only Latin American countries with more than three neighbourhoods included in the ranking.  

According to the report, the cost of buying a two or three-bedroom apartment in Puerto Madero, Buenos Aires is approximately US$5,845sqm. In Del Valle, Monterrey, the average value per square meter is $4,071, while Ipanema reports an average of $4,008sqm.