Two Chilean cities, Santiago and Concepción, are among the cheapest in the world in terms of square meter price. This is according to the 2009 ranking that was drafted by the international consulting firm Global Property guide, which analyzed 112 cities.
The price per square meter in Concepción was an average of US$ 669, while it rose to US$ 1,221 in the Chilean capital. The Egyptian city of Cairo took first place (US$ 574 per square meter).
Monte Carlo is on the opposite extreme, ranking as the most expensive at US$47,578 per square meter, followed by Moscow at US$ 20,853 and London at US$ 20,756.
The study revealed that the different costs depend mainly on the local conditions in each place.
There were five Latin American cities on the list of the cheapest cities by square meter. Aside from Concepción and Santiago, Chile, Quito, Ecuador, the Nicaraguan capital Managua, and Lima, Peru, were also included.