MercoPress. South Atlantic News Agency

Montevideo is the most expensive city in Latin America, according to study by Argentine university

The Uruguayan capital leads the ranking along with Santiago de Chile and Mexico City. It is followed by Buenos Aires, Rio de Janeiro and Sao Paulo.

The Torcuato Di Tella University together with Zonaprop, a real estate website, prepared a real estate report in which they made a ranking of the most expensive cities to live in Latin America, in which Montevideo appears as the most expensive of all.

According to the report, the Uruguayan capital tops the list with US$ 3,054 per square meter, followed by Santiago de Chile, Mexico City, Buenos Aires, Rio de Janeiro, Sao Paulo, Monterrey and Lima.

The most affordable cities per square meter are Bogotá (US$ 1,108/m²) and Quito (US$ 1,204). Then come Cordoba and Rosario. With this new ranking, Buenos Aires is no longer on the podium, replaced by Mexico City, and now occupies fourth place, after being there for two consecutive years.

The study shows the price per square meter of apartments in neighborhoods in 14 cities in nine Latin American countries, compared to Buenos Aires. The Buenos Aires localities are Barrio Norte, Belgrano, Caballito and Recoleta. The computation is based on the price requested in sales ads on websites.