Housing in Latin America shows two trends when combining price and size: apartments grow proportionally, while houses grow disproportionately. From Mexico City, passing through Lima, to Buenos Aires, the relationship between the space and the cost of the property is direct; while the price grows, the area also.

The Properati and Trovit portals analyze the home size/price ratio for sale in each locality, commune, neighborhood, parish or mayor’s office of six cities. The capitals of Argentina, Chile, Colombia, Ecuador, Mexico and Peru are part of the real estate study.

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Most of the localities analyzed in Bogotá have houses and apartments with a price and area below the regional average. For example, Bosa is one of the sectors that offers the cheapest and smallest apartments in the entire region, with an average price per square meter of 2.7 million pesos (581 dollars) and a surface area of ​​48 m².

In the meantime, Usme is part of the areas that offer the smallest houses and economic of the region, with an average price of 2.6 million pesos (568 dollars) and 53 m² of surface.

According to the analysis carried out by Properati and Trovit, 18 out of 19 of the analyzed localities in Bogotá have apartments with less space than the regional average (85 m²). The exception is Chapinerowhere the average price of the apartments is 9.9 million pesos (2,118 dollars) and 138 m² of surface.

There is a group of sectors made up of Engativá, Antonio Nariño, Puente Aranda and Los Mártires that present characteristics and attractions to the real estate market. On average, we offer apartments between 60 and 68 m² for a price that oscillates between 900 and 1,000 dollars per square meter, approximately between 4 and 5 million pesos.

Only three of the 19 locations analyzed registered apartments with an area above the regional average (85 m²). These sectors are located at the ends of the urban sprawl or in the southern part of the capital.

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As is the case with apartments, in a few localities there are houses that exceed the regional average of surface area (130 m²); this son Chapinero and Usaquen. Meanwhile, six towns offer homes between 100 and 130 m², on average, and five offer houses with less than 100 m². The lowest value was made in Ciudad Bolívar, with an average of 49 m².

Regarding house prices, Usaquén has the highest average in Colombia and one of the highest in the region, with 10.8 million pesos (2,314 dollars) per square meter. Meanwhile, the lowest values ​​are found in Bosa and Usme, with a price of 2.4 million pesos (517 dollars) and 2.5 million pesos (568 dollars).

The panorama of the rest of the cities

The report presented by the Lifull Connect portals describes the marked but not definitive trends for each city. The supply of housing in Quito presents similarities with Bogotá. The price level per square meter is similar, but in Quito the houses are generally larger.

For example, the price per m² of the apartments in Teusaquillo is 5.8 million pesos (1,235 dollars), a figure close to 1,252 dollars in Tumbaco (Quito). However, the average area in Teusaquillo is 83 m², while in Tumbaco it is 115 m². This similarity and difference persists between the vast majority of the sectors of both cities.

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Santiago de Chile and Buenos Aires offer housing (apartments and houses) smaller and more expensive compared to the average of all the sectors analyzed. In both capitals there are few exceptions that exceed the average regional area or that have a price below the average. Usually, one metric must be traded for the other.

Mexico City and Lima show a similar trend. The capitals of Mexico and Peru offer greater possibilities of finding houses and apartments with a mix of spaciousness and a low price (under the criteria of what cheap and expensive mean in each market).