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Whether you’re enamored by South America’s fascinating history, lush beaches, vast hiking opportunities or bustling metropolitan cities, you’ll find no shortage of things to do on the continent. It truly has something for everyone, from foodies to nature lovers. While you can certainly visit often, you might consider buying a vacation property in South America if you can afford it.
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South America offers a broad range of available homes across its many popular locations, including Buenos Aires, Argentina, Punta del Este, Uruguay and Santiago, Chile. You can find properties for nearly every budget — from super luxe to basic and affordable. Here’s a look at the housing market and average property prices in six popular South American vacation cities.
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Punta del Este, Uruguay
Average price per square meter: $4,000
Average 100-square-meter/1,076-square-foot home: $400,000
Nestled just one hour north of Uruguay’s capital city, Montevideo, Punta del Este offers miles of sandy beaches lined by oceanfront property. It’s perfect for vacation-goers who love sunbathing and watersports but don’t want to be too far away from the action.
After a day spent lounging on the beach, you can dine at one of Punta del Este’s famed restaurants or shop in its numerous artsy boutique stores.
Punta del Este’s housing market is quite affordable, especially compared to other beachside locales with similar amenities. You may find even better deals if you’re willing to purchase further inland, rather than right on the water.
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Buenos Aires, Argentina
Average price per square meter: $2,290
Average 100-square-meter/1,076-square-foot home: $229,000
Buenos Aires has a well-deserved reputation as the top vacation city in Latin America. Known for its stunning architecture, vibrant culture, compelling traditions and many green spaces, it attracts millions of visitors annually.
Buenos Aires has over 160 museums, hundreds of theaters, one of the world’s best opera houses and extensive nightlife options. If you’re adventurous, you can sign up for tango classes, as it is the birthplace of the romantic dance. Other entertainment options include the city’s numerous nature reserves, including a Japanese park and the 350-hectare Costanera Sur Ecological Reserve.
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The housing market in Buenos Aires is currently quite affordable, but analysts expect property prices to increase over the next few years — so this is a great time to buy.
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Cusco, Peru
Average price per square meter: $1,140
Average 100-square-meter/1,076-square-foot home: $114,000
Avid hikers and history enthusiasts can get the best of both worlds with a vacation property in Cusco. Located just two hours from the world-famous Machu Picchu Inca citadel and nearby numerous other attractions, including Rainbow Mountain, Humantay Lake, Sacred Valley and the Cusco Cathedral, you’ll find many ways to spend your time.
When you’re not hiking or exploring the many attractions in Cusco, you can dine on the delectable Peruvian cuisine, meander through the colorful San Blas neighborhood or pick up fresh fruit and veggies from local farmers’ markets.
Vacation homes in Cusco are reasonably priced. While the city isn’t as large as others on the list, you’ll find properties of every kind, including houses and apartments.
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Rio de Janeiro
Average price per square meter: $2,083
Average 100-square-meter/1,076-square-foot home: $208,300
No list of South American vacation cities would be complete without Rio de Janeiro, Brazil. The city is known for its iconic beaches, including Copacabana and Ipanema, allowing sun worshippers to spend their days lounging on Rio de Janeiro’s sandy shores. If you’re sports inclined, you might consider joining a game of futevolei, or footvolley, a type of beach volleyball played without hands, which frequently pops up on the beaches.
Rio de Janeiro offers plenty of exploration opportunities, too. You can spend a day at Tijuca National Park, a massive rainforest that extends over 9,600 acres and is home to numerous wildlife species. Or, check out Sugarloaf Mountain, which is accessible via cable car and gives you 360-degree views of the city.
The housing market in Rio de Janeiro remains healthy, with prices increasing approximately 5% since last year. Considering all that the city offers, it’s quite a bargain if you’re looking for a South American vacation home.
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Santiago, Chile
Average price per square meter: $2,470
Average 100-square-meter/1,076-square-foot home: $247,000
Chile’s largest city, Santiago, sits at the heart of the country. Located just over an hour from major beach towns Valparaiso and Vina del Mar, it’s also within driving distance of several ski resorts. No matter what time of year you plan to stay in your vacation home, you can take advantage of weather-appropriate activities.
Santiago also offers plenty of options for those who prefer to stay within city boundaries. You can start with a visit to San Cristobal Hill, a major metropolitan park with plenty of hiking and biking paths. At the top of the hill is a gigantic statue of the Virgin Mary and stunning views of the entire city. If shopping ’til you drop sounds like fun, spend a day at Costanera Center, one of the largest malls in South America.
Santiago has plenty of cultural sites to visit, including the Metropolitan Cathedral, Plaza de Armas and the Chilean Museum of Pre-Columbian Art. The city’s fast-growing economy makes it an attractive place to own a vacation home.
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Mendoza, Argentina
Average price per square meter: $1,300
Average 100-square-meter/1,076-square-foot home: $130,000
Mendoza is a wine and outdoor lover’s dream. It’s home to countless wineries producing most of Argentina’s famous Malbec wines, which offer daily on-site tours and tastings. Mendoza also boasts several delicious restaurants with delicious Argentine steak you can’t find anywhere else in the world.
When you get tired of eating and drinking, you can engage in outdoor activities like whitewater rafting, rock climbing, horseback riding or hiking through the Andes Mountains. Several cultural sites are also nearby, such as the Museo Nacional del Vino, which explains Argentina’s history of winemaking, or the Museo Nacional de Bellas Artes, a stunning 19th-century mansion full of beautiful artwork.
Buying a vacation home in Mendoza means you’ll have somewhere to go when you want a truly relaxing and laid-back holiday.
Photo Disclaimer: Please note photos are for representational purposes only. As a result, some of the photos might not reflect the locations listed in this article.
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This article originally appeared on GOBankingRates.com: Could You Afford a Vacation Home in South America? Check Out the Prices in These 6 Cities
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