Quito has Most Affordable Housing in Latin America: Study

Montevideo has overtaken its regional peers as the most expensive city in Latin America to buy a home, while Quito ranks as the cheapest, according to new data from the Torcuato Di Tella University Business School.

Housing prices across major Latin American cities rose in both dollar and local-currency terms as of last September, the study found. The latest Latin American Real Estate Survey (RIAL) shows the regional average price per square meter increasing 6.2 percent in dollars and 1 percent in real local currency. After adjusting for inflation, prices were up 4.5 percent.

The survey analyzed apartment listings in 12 cities across seven countries, focusing on neighborhoods comparable to high-demand areas of Buenos Aires such as Barrio Norte, Belgrano, Caballito, and Recoleta. Most of the data came from property listings on websites owned by the QuintoAndar Group and was compiled by the Center for Financial Research (CIF) together with Zonaprop.

Montevideo leads the region with an average price of US$3,209 per square meter. It is followed by Mexico City (US$2,909), Monterrey (US$2,787), Guadalajara (US$2,717), and Buenos Aires (US$2,622).

Quito remains the most affordable market, with prices averaging US$1,200 per square meter. Rosario (US$1,733), Córdoba (US$1,750), and Panama City (US$1,881) also fall on the lower end of the spectrum.

In nominal dollar terms, Guadalajara recorded the strongest price growth, jumping 14.7 percent, followed by São Paulo at 13.2 percent and Rio de Janeiro at 9.5 percent.