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.
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!
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.