Much has been said in the last five years about the “gentrification” that has affected neighborhoods such as La Condesa, Roma, Juárez and Cuauhtémoc. Gentrification is known as the process of urban renewal and reconstruction where the flow of middle or upper class people usually displaces the poorest inhabitants of the areas in question. In this sense, in recent years we have seen how more than 40 thousand foreigners have moved to these colonies taking advantage of the fact that they can work remotely (better known as “digital nomads”). Specifically, La Condesa has become the favorite area for foreigners to live in CDMX, to the point of hearing more English than Spanish in its streets and restaurants.
But what is it that attracts foreigners' attention about La Condesa? Have incomes grown to the point where they can only be paid by those who earn in USD?
The residential real estate market in La Condesa is made up mostly of apartments for rent which are generally located in old buildings of Art Deco architecture and that have been remodeled to offer new, high-quality finishes. You can also find recently built vertical developments with modern facades and some amenities. The rents in La Condesa are some of the highest in the country where for an apartment of 150 square meters you can pay close to 50 thousand pesos per month, which has generated the displacement of the inhabitants who arrived in the area decades ago when the rents were accessible.
Life in La Condesa is anything but boring and for all tastes. On the one hand, it is home to magnificent restaurants and trendy bars. On the other hand, it is a meeting place for intellectuals, music lovers, art lovers and even yoga practitioners. Walking through the streets of La Condesa is to breathe in history and tradition transmitted by its old farmhouses and tree-lined streets; listen to intellectual discussions and enjoy a festive atmosphere.
La Condesa has a wide range of signature restaurants where different cuisines are exhibited, ranging from Mexican, such as the recent Michelin-starred restaurant Esquina Común or the traditional Azul Condesa; of international cuisine the famous Lardo or the picturesque Botánico. A well-known place to eat or have a cocktail is the Hotel Condesa DF by Grupo Habita, which over the years has managed to maintain this place as one of the area's favorites.
If you want to know more about La Condesa, do not hesitate to consult our section dedicated to the city area where you will find images, recommendations and properties available for both sale and rent.
