Are you thinking of buying an apartment in the city? You may want to take a deep breath before reviewing your options, because the price per square meter in Mexico City is already the second highest in all of Latin America.
According to the Latin American Real Estate Survey (RIAL), conducted by the Center for Financial Research at Torcuato di Tella University in September 2025, the Mexican capital is only behind Montevideo in the regional ranking.
In clear figures: the price per square meter in Mexico City reaches $2,909, or approximately $49,453 Mexican pesos (considering an exchange rate of around 17 pesos per dollar).
The only city that surpasses it is Montevideo, where the price per square meter is $3,209 (about 54,553 Mexican pesos).
Buying in Mexico City is now more expensive than in Buenos Aires or São Paulo
If you thought other major capitals were more expensive, the data says otherwise. Mexico City ranks above cities such as Buenos Aires ($2,622), São Paulo ($2,578), and Rio de Janeiro ($2,440).
In addition, Mexico dominates much of the regional top 5. Monterrey ranks third with $2,787 ( ≈ $47,379 pesos) and Guadalajara fourth with $2,717 (≈ $46,189 pesos).
The study also notes that the price per square meter in the cities analyzed rose 4.5% between March and September 2025, confirming that the trend continues to rise.
Although the report does not go into detail by neighborhood, in Mexico City, areas such as Polanco, Roma, Condesa, and Santa Fe tend to have some of the highest values in the real estate market.
So if your plan is to buy an apartment in the capital, the data is clear: you are looking for housing in one of the most expensive cities in Latin America to do so at this time.