Top 20 Most Affordable Latin American Cities for Real Estate: Which Is No. 1?

PANAMA CITY—This may be the best time in a decade to diversify into Latin America real estate, thanks to a strong U.S. dollar and a number of positive developments in key cities, according to a new survey.

The survey of 20 top property markets in Central and South America conducted by Live and Invest Overseas over the past three months identifies Cali, Colombia, as the most affordable on a per-square-meter basis. The survey considered the cost of two-bedroom apartments of 75 to 100 square meters in each market. This would be a comfortable size for a second home abroad or a retirement residence and an ideal configuration for a rental property in most markets.

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