MercoPress. South Atlantic News Agency

Sao Paulo and Bs As have highest regional real estate values

Buenos Aires real state is a booming market

Real estate values in the capital of Argentina, Buenos Aires this year figure below those of Brazil's main city Sao Paulo but above prices in Santiago de Chile and Montevideo, Uruguay according to a report from consultants Reporte Inmobiliario.

In the denominated "garden" towers, which include services and compound security the average price for a brand new flat, in Montevideo, is in the range of 1.200 to 1.500 US dollars per square meter depending on the zone, materials quality and amenities. For a similar category in Sao Paulo, prices range from 3.000 to 5.000 US dollars per square meter and in Santiago, 1.500 to 2.000 US dollars. The same towers with amenities and security measures in Buenos Aires the price is between 1.800 and 2.500 US dollars. Regarding office space, in Montevideo the highest category is selling from 1.700 to 3.000 US dollars a square meter with a monthly rent of 14 to 25 US dollars per square meter. In Santiago prices range from 1.850 to 2.500 US dollars. In Sao Paulo top office rents' reach 30 to 50 US dollars per square meter and sell at 2.500 to 4.000 US dollars square meter. In Buenos Aires the average rent is 32 US dollars per square meter and the selling price is above 2.500 US dollars. Commercial outlets rent for 19 to 30 US dollars per square meter in Santiago; 25 to 100 US dollars in Sao Paulo; 10 to 30 in Montevideo and 20 to 50 in Buenos Aires. Construction costs of an average building in Montevideo is in the range of 650 US dollars per square meter, while in Buenos Aires in the more consolidated areas it jumps to 1.000 US dollars, but for average quality ranges between 600 and 650 plus taxes.