Latin America

3 Days in Mexico City—with Benoit Properties International

Our UK team spent some time in Mexico City, a thriving urban centre and cultural hub in Latin America. Here's our lowdown on the city's best neighbourhoods and most promising investment opportunities.

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Our UK team recently spent some time in Latin America, touring our current projects and scoping out new investment opportunities in global real estate. After a trip to Panama and Costa Rica, we arrived in Mexico City to explore its vibrant neighbourhoods, unique properties, and myriad opportunities for investment.

From Then, Until Now

Nestled in the Valley of Mexico, Mexico City is a bustling metropolis surrounded by mountains. It is one of the world’s most populated metropolitan areas—and has been for some time. The city was founded in 1521 by Spanish conquistadors, but before this, it existed as “Tenochtitlan”, the political and cultural heart of the Aztec empire. This makes the city one of the oldest inhabited settlements in the Western Hemisphere.

Today, Mexico’s capital is home to one-fifth of the national population and is a melting pot of nationalities and cultures. This diversity is also reflected in its architectural landscape, which combines Aztec ruins and colonial architecture with modern high-rise developments.

Mexico City is renowned for its bustling urban areas, but there are also plenty of quiet and more rural neighbourhoods to be found. The real value for investors, though, lies in the city’s central and culturally vibrant districts. Locals and tourists alike flock here in large numbers, keen to experience the capital’s best shops, restaurants, bars, and venues.

During our trip, we called in on some of Mexico City’s most desirable neighbourhoods: La Condesa, Roma, Juárez and San Rafael. Each is a safe, upmarket area, filled with charming cafés, boutique stores, and fascinating cultural venues. Whether you’re a lifestyle buyer or an investor, these areas are among the best places to live, work and invest in Mexico City.

La Condesa

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We stayed at Hotel San Fernando in La Condesa, a chic central neighbourhood awash with European influences. Expect wide streets, lush greenery, and captivating architecture ranging from colourful Art Deco apartments to glorious art nouveau mansions. This neighbourhood gives off a trendy, bohemian vibe, making it popular with young professionals and travellers. Stroll along the promenades of Parque Mexico to the sound of live music performances and traverse the “Art Deco Ring”, where you’ll find some of La Condesa’s most picturesque buildings.

Roma

Roma is located to the east of La Condesa and the west of the city’s historic centre. One of Mexico City’s principal areas, the district is divided into Roma Norte and Roma Sur. (You may recognise it as the setting of the 2018 Oscar-winning film, Roma.)

Characterised by striking properties and ornate facades, Roma is a haven for architecture lovers in Mexico City. You can easily spend a day here dipping into its fashion houses, antique stores, and top-rated restaurants and bars. As the first gourmet market in the capital, Mercado Roma is a great place to enjoy authentic Mexican cuisine and international dishes.

Juárez

Around a 15-minute walk from Roma Norte lies Juárez. In the early 1900s, Juárez was an affluent area, home to Mexico’s movie stars and wealthiest residents.

While it fell into ruin during the first half of the decade, Juárez experienced somewhat of a revival during the ‘60s and would go on to become one of the most culturally vibrant parts of the city.

In recent years, Juárez has been heralded as Mexico City’s hottest neighbourhood by Vogue, and the capital’s “latest colonia of cool” by the New York Post.

The area unites historic charm with a distinct modern energy, making it beloved by locals, visitors and homebuyers. Its upscale amenities—from world-class restaurants to high-end boutiques—draw an affluent crowd, while Little Korea is a hotspot for food enthusiasts.

San Rafael

The last stop on our tour around Mexico City was San Rafael. While it may be notorious for its iconic 19th-century mansions, San Rafael boasts an eclectic mix of buildings from different eras. Residents range from long-time locals to young creatives. Meanwhile, established restaurants and cultural institutions exist alongside new, cutting-edge venues. Stop by the El Eco Museum, or head to La Polar for some of the best birrias in the city.

Investment Potential

The most desirable neighbourhoods of Mexico City bring together colourful properties, leafy parks, thriving cultural venues, and world-class restaurants. This not only provides a high quality of life for residents, but also attracts tourists from across the globe who are keen to experience the very best Mexico City. In 2023, the capital was named the #1 city in the world for culture and its hotels welcomed over 2 million foreign visitors in the first half of the year alone.

Demand for housing is high, driven in part by homebuyers, and in part by investors looking to capitalise on the huge demand for short and long-term rentals. This is driving property values and rental prices to new highs, creating attractive returns for investors.

Mexico is the second-largest economy in Latin America and one of the largest in the world, boasting a GDP of $1.47 trillion. However, it is still classed as an emerging economy as its GDP per capita doesn’t quite meet the benchmark of a developed country.

In the wake of the COVID-19 pandemic, Mexico has demonstrated impressive resilience, marked by a full recovery of GDP and employment levels. The unemployment rate fell to 2.5% in February, which is much lower than the average for Latin America. Real wage income has also increased significantly (by more than 21% since 2019).

As an emerging economy, Mexico presents significant potential for investors. Property values are set to appreciate in line with economic growth, which is expected to surpass the country’s 30-year average in 2024.

To conclude, Mexico City is in the midst of a remarkable transformation. It has emerged as one of Latin America’s leading destinations for arts, culture and cuisine, drawing travellers and homebuyers from across the globe.

The real estate landscape in Mexico City is unique and diverse, encompassing everything from turn-of-the-century properties to stylish, newly-built apartments. All the while, the growth of the housing market and the wider economy continues to gain momentum. For this reason, we believe Mexico City represents one of the best locations to buy property in Latin America.

If you’d like to discuss property investment opportunities in Mexico City, get in touch to speak to one of our property consultants.


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