What are the most expensive countries in South America? With a ton of Americans planning on moving to South America to enjoy its lower costs of living, it is well worth checking which countries give you the most value for your dollar and which cannot.
The rankings on this list are based on the cost of living rankings from Numbeo’s Cost of Living Index and Global Property Guide’s Cost of Living indicator. Numbeo ranked each country on the list based on the values of their consumer price plus rent index. These values indicate the costs of groceries, transportation, utilities, restaurants, and mortgage/rent of each country. For Global Property Guide, each country was ranked based on a method similar to The Economist’s Big Mac Index. This cost of living indicator finds out the currency’s purchasing power and compares how much a set of goods worth $1 in the US would cost in the indicated countries.
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So, itching to find out which of your dream destinations made it to the list of the most expensive countries in South America? Read on to know! And don’t forget to check out our article on the 11 Most Expensive Countries in Europe!
8. Peru
Peru is considered well below the average as far as the cost of living in South America is concerned. Big cities like its capital of Lima is definitely more expensive than the countryside but rent can go as cheap as $100 to $200 per month even in the middle of Lima’s downtown district, but can go up and well over $1000 a month in the more upscale and more picturesque areas like Miraflores – where homes almost always come with stunning views of the Pacific coast.
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7. Colombia
Colombia has some of the cheapest real estate rates in the entire South American region, so if you want to stretch your dollar on a mansion, Colombia is the best country on the continent to allow you that. As in most places, the urban areas will always be more expensive, but the countryside presents more budget-friendly options.
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6. Ecuador
Ecuador has made a mark in the global expat community after being voted 2015’s best country for expats on InterNations and is in fact a favorite for retirees for how much it can expand the dollar. Your $2000 in Ecuador can let you live extravagantly in an upscale, large place complete with utilities, regular dine-outs, and local travel.
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5. Argentina
Rent in Argentina is the highest in the entire continent, but insiders swear by the fact that the most expensive part of long term accommodations in Argentina is not the rent or the house prices themselves. The most expensive part of the Argentine real estate is, in fact, the mortgage rate. Consumer goods are rising as well due to worsening inflation rates.
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4. Chile
Chile bagging the 4th place on the list of most expensive countries in South America is quite surprising: to the uninitiated, it seems highly unlikely; for those in the know, it is a surprising improvement from 2011’s most expensive title. As in most countries, living in Santiago is almost always more expensive than in the countryside, but monthly rent in a smaller single-person space can be well over $400 in an expensive area.
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3. Brazil
The most expensive part of living in Brazil is mostly the real estate and the price of imported goods. Rio de Janeiro is known for being outrageously expensive as well for electronics, clothing, and imported food items. The countryside prices for rent and commodities, as well as the prices of local goods and produce, are a great equalizer to the ridiculously high fees.
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2. Venezuela
Uruguay beats Ecuador by several notches in the list of most expensive countries in South America, thanks to its really high cost of consumer goods. But it still attracts a good deal of American expats thanks to its affordable health insurance costs. In fact, the grocery items in the country are the most expensive on the entire continent – no thanks to inflation. Case in point: Mc D’s large fries cost $126 in 2015.
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1. Uruguay
Uruguay beats Ecuador by several notches in the list of most expensive countries in South America, thanks to its really high cost of consumer goods. But it still attracts a good deal of American expats thanks to its affordable health insurance costs.
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The most expensive countries in South America are still much of a breeze financially compared to the skyrocketing costs of living in the United States, but moving in the continent full-time takes a lot of planning. After all, if this list proves anything, it is not exactly dirt cheap down there.
