Polanco has historically been the most expensive area to live in Mexico City due to its exclusivity, location and the type of properties found there, but how much does an apartment cost in Polanco? The average cost of an apartment is between 28,300,000 pesos and 29,400,000 pesos.
It is important to consider that the price of each property depends mainly on the size or number of square meters of construction that the apartment in question has. There are also other factors that have an effect on the price, such as:
Properties in Polanco can vary according to their location. There are very old buildings located between the Periférico Ring Road and the Ejército Nacional Avenue that have a value per square meter much lower than other properties located near Masaryk or Campos Elíseos where we can find the best restaurants, hotels and luxury stores.
A property in poor condition and older than that will have a lower value than a more recent and better-condition property due to all the adjustments and repairs that would have to be carried out to properly occupy said property.
In Polanco, recently built buildings have amenities such as a gym, social areas with grills or recreation areas and playrooms for the little ones. Buildings built a few decades ago were not designed with amenities so their price could be lower than those that do have them.
With COVID-19, a very important foreign migration to Mexico City was unleashed, where it is estimated that more than 40,000 “digital nomads” arrived from Europe and the United States taking advantage of remote work to reside in neighborhoods such as Polanco, La Condesa, Roma, Juárez and Cuauhtémoc. This migration triggered an increase in prices never before seen in Mexico City, which has resulted in various discussions and initiatives to avoid the displacement of the original occupants.
The prices per square meter of sale of apartments in Polanco have had the following behavior in recent months:
Considering that the average size of apartments in Polanco is approximately 270 square meters, in the last 15 months the sale price has increased from 24.2 million pesos to 28 million pesos, which represents a growth of more than 15%.
If you are interested in buying or renting a residential property in Polanco, do not hesitate to enter our marketplace to find the property that suits your needs.
