adUnits.push({
code: ‘Rpp_economia_economia_Nota_Interna1’,
mediaTypes: {
banner: {
sizes: (navigator.userAgent.match(/iPhone|android|iPod/i)) ? [[300, 250], [320, 460], [320, 480], [320, 50], [300, 100], [320, 100]] : [[300, 250], [320, 460], [320, 480], [320, 50], [300, 100], [320, 100], [635, 90]]
}
},
bids: [{
bidder: ‘appnexus’,
params: {
placementId: ‘14149971’
}
},{
bidder: ‘rubicon’,
params: {
accountId: ‘19264’,
siteId: ‘314342’,
zoneId: ‘1604128’
}
},{
bidder: ‘amx’,
params: {
tagId: ‘MTUybWVkaWEuY29t’
}
},{
bidder: ‘oftmedia’,
params: {
placementId: navigator.userAgent.match(/iPhone|android|iPod/i) ? ‘22617692’: ‘22617693’
}
}]
});
In 2022, the average price square meter (m2) According to a report from the University of Torcuato di Tella, in the main cities of Latin America, it fell by 4.4%, but how much does a house cost?
According to Bloomberg analysis, buying a 100 m2 house in major cities Latin America It can range from $110,000 to $306,000 depending on country, supply and demand, and location.
For example, the most expensive m2 in the region is in Montevideo (Uruguay), where the average cost is $3,054; It is followed by Santiago de Chile (Chile) at $2,734/m2; Mexico City (Mexico), where $2,424 is needed; and Buenos Aires with an average cost of $2,421.
How much minimum wage do I need to buy a house?
The highest cost is in Uruguay, where a 100m2 house can cost $305,400 or $21,106 in local currency.
This means that people living in Uruguay can purchase property spending just over 560 times the minimum wage, which in this country is $545 a month.
If we take into account only the minimum wage required to buy a 100 m2 house in Latin America, then the highest results are found in Argentina, Brazil and Peru.
Buenos Aires (Argentina) is a Latin American city that requires a higher minimum wage to get living place. With a salary of 80,342 pesos, which is converted to $204 at the exchange rate, it takes 1,186 salaries to buy a property for $242,100.
In second place is Sao Paulo, Brazil, where a house of about $210,900 m2 requires 811 base salaries. Currently, the minimum wage in Brazil is 1,320 reais, which in exchange is 260 US dollars.
Finally, in Lima (Peru), a person must collect 745 minimum wages in order to buy living place $201,400 since the minimum wage is SGD 1,025 which is an average of $270 in dollars.
| A country | The cost of housing 100 m2 | # Minimum wage for a house of 100 m2 | Salary in local currency | salary in dollars | |
|---|---|---|---|---|---|
 |
Argentina | $242,100 | 1186.76 | A$80,342 | $204 |
 |
Brazil | $210,900 | 811.15 | 1320 reais | $260 |
 |
Chile | $272,400 | 544.8 | 410,000 pesos | 500 dollars |
 |
Colombia | $110,800 | 436.22 | 1,160,000 Colombian dollars | $254 |
 |
Ecuador | $120,400 | 267.55 | $450 | $450 |
 |
Mexico | $242,400 | 698.55 | 6310 Mexican pesos | $347 |
 |
Panama | $170,300 | 522.39 | $326 | $326 |
 |
Peru | $201,400 | 745.92 | C/1025 | $270 |
 |
Uruguay | $305,400 | 560.36 | $21,106 | $545 |
Source: RPP
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.