What are the luxury neighborhoods where housing is more expensive? Three neighborhoods in Mexico, with the highest prices in Latin America

253

Colonias Del Valle in Monterrey, Puerta de Hierro in Guadalajara, and Bosques de las Lomas in Mexico City, with the highest values in the average price per square meter of properties.

Even though Latin America is characterized as one of the regions in the world with the greatest need for housing, especially in the low-income segments, there are high-value neighborhoods that are considered exclusive and where the price of homes increases due to its potential demand.

According to an analysis of the real estate search portals Trovit and Properati, within the 10 neighborhoods with the highest housing prices, with respect to their average value per square meter (m2) of sale, three are located in Mexico, mainly in Monterrey, Guadalajara and Mexico City.

According to the analysis, the Del Valle neighborhood in Monterrey, Nuevo León, is positioned as the fourth neighborhood with the highest price in all Latin America, only below Vitacura, in Santiago de Chile; Ipanema in Rio de Janeiro, Brazil and Puerto Madero in Buenos Aires, Argentina.

The analysis details that the Del Valle neighborhood in San Pedro Garza García registers an average cost per square meter of $3,566. MXN “The Del Valle neighborhood is a traditional residential sector that houses boutiques, haute cuisine restaurants, and luxury homes. It is in San Pedro Garza García, one of the richest municipalities in Mexico,” the report details.

Subsequently, Puerta de Hierro in Zapopan is the seventh neighborhood with the highest housing prices in Latin America and the second in Mexico, with an average value per square meter of $2,900 MNX.

“Puerta de Hierro, in Zapopan, is characterized by the modern architecture of its residential towers, offices and shopping centers; this sector located to the west of the Guadalajara Metropolitan Area is relatively new, since its urbanization occurred at the beginning of the 1990s. 2000”, points out the analysis.

The Bosques de las Lomas area in Mexico City is ranked number eight on the Latin American list and the third most expensive neighborhood in Mexico in terms of housing, with an average sale price of $2,629 MNX per meter square.

“The Bosques de Las Lomas neighborhood in Mexico City is located in the exclusive sector of Las Lomas, built at the beginning of the last century intended as a place where luxury would be connected with nature,” the analysis highlights.

According to the report, Bosques de las Lomas was the neighborhood where the price rose the most annually, compared to other neighborhoods in Latin America, with an increase of 22%, which was higher than that of other cities. Del Valle in Monterrey and Puerta de Hierro in Zapopan were included in the list for the first time, so there is no record of previous periods.

“This increase (in Bosques de las Lomas) can be explained by different factors: on the one hand, the Mexican peso appreciated 5% against the dollar in the last year, and on the other hand, inflation and the increase in construction costs have led to a general increase in the price of homes in Mexico (of 8% in the second quarter of 2022 according to the Federal Mortgage Society)”, the analysis points out.

Part of the Trovit methodology was based on the following points:

  • Analysis of properties for sale in each country.
  • The study was based on the analysis of 50,000 properties from the selected cities.
  • The average price was set based on the values of the last six months of Colombia, Peru, Brazil, Mexico and Chile.
  • The values were established based on the announcements published on Trovit and Properati.

Source: El Economista