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The average price per square meter in Mexico City currently stands at approximately MXN 50,116 (USD 2,500) citywide.
However, this varies dramatically by neighborhood, with prime areas like Polanco commanding USD 4,500-5,500 per sqm while peripheral areas like Tláhuac offer properties for as low as USD 1,200-1,500 per sqm. The market has experienced steady growth of 8.1% year-over-year in 2024-2025, driven by foreign investment, gentrification, and limited supply in central locations.
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Mexico City's property market shows significant price variations, with the citywide average at USD 2,500 per sqm but ranging from USD 1,200 in outer boroughs to over USD 6,000 in luxury developments.
The market has grown consistently by 5-8% annually over the past five years, with new properties commanding 30-40% premiums over older stock.
| Category | Price Range (USD/sqm) | Key Areas |
|---|---|---|
| Ultra-luxury | 5,000-6,140 | Bosque de Chapultepec, Polanco |
| Premium | 4,000-5,500 | Lomas de Chapultepec, Roma, Condesa, Santa Fe |
| Mid-range | 2,000-4,000 | Tabacalera, Del Valle, Napoles, Juárez |
| Affordable | 1,200-2,000 | Coyoacán, San Ángel, Tláhuac |
| New developments | 3,003 (avg) | City-wide new construction |
| Older properties | 2,191 (avg) | Second-hand market |
| Apartments | 2,500-2,600 | Median citywide |
What is the current average price per square meter in Mexico City?
As of September 2025, the average price per square meter in Mexico City stands at approximately MXN 50,116, which equals about USD 2,500.
This citywide average represents a significant variation across different neighborhoods and property types. The USD 2,500 figure is calculated based on the current exchange rate of approximately 20 Mexican pesos per US dollar.
For apartments specifically, the median price per square meter reaches MXN 60,955 (USD 2,500-2,600), while houses average MXN 39,952 (approximately USD 1,650-2,000) per square meter. This difference reflects the concentration of apartments in more expensive central areas and the prevalence of houses in peripheral, more affordable neighborhoods.
It's important to note that this average encompasses everything from luxury developments in Polanco exceeding USD 5,500 per sqm to affordable housing in outer boroughs like Tláhuac starting at USD 1,200 per sqm.
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How much does the price per square meter vary between neighborhoods?
The price variation between Mexico City neighborhoods is dramatic, with differences of up to 400% between the most expensive and most affordable areas.
Upscale central areas command the highest prices, ranging from USD 4,000 to USD 5,500 per square meter. These include prestigious neighborhoods like Polanco, Lomas de Chapultepec, Roma, Reforma, Condesa, and Santa Fe, which offer premium amenities, excellent infrastructure, and proximity to business districts.
Mid-range neighborhoods such as Tabacalera, Tacubaya, Del Valle, Napoles, and Juárez fall within the USD 2,000 to USD 4,000 per square meter range. These areas provide good access to city amenities while maintaining more moderate pricing than the ultra-premium zones.
Affordable peripheral areas, including Coyoacán, San Ángel, and various boroughs in the east and south of the city, offer properties for as low as USD 1,200 to USD 1,500 per square meter. Tláhuac represents one of the most budget-friendly options in the metropolitan area.
This variation reflects factors such as proximity to employment centers, transportation infrastructure, security levels, and local amenities availability.
What are the most expensive neighborhoods by price per square meter?
The most expensive neighborhoods in Mexico City represent the pinnacle of luxury living, with prices reaching USD 6,140 per square meter in the most exclusive areas.
| Neighborhood | Price per sqm (USD) | Key Characteristics |
|---|---|---|
| Bosque de Chapultepec | 5,000-6,140 | Adjacent to major park, ultra-luxury developments |
| Polanco | 4,500-5,500 | Business district, luxury shopping, embassies |
| Lomas de Chapultepec | 4,000+ | Historic wealthy area, large properties |
| Reforma | 4,000-5,000 | Major avenue, corporate headquarters |
| Roma Norte | 4,000-4,500 | Trendy area, restaurants, cultural venues |
| Condesa | 4,000-4,500 | Art deco architecture, parks, nightlife |
| Santa Fe | 4,000-4,500 | Modern business district, shopping centers |
These neighborhoods command premium prices due to their combination of prime location, superior infrastructure, security, and proximity to business centers and cultural attractions.
What are the most affordable neighborhoods by price per square meter?
The most affordable neighborhoods in Mexico City offer property prices starting from USD 1,200 per square meter, making homeownership accessible to a broader range of buyers.
Tláhuac stands out as one of the most budget-friendly options, with prices ranging from USD 1,200 to USD 1,500 per square meter. This southeastern borough offers developing infrastructure and growing connectivity to central Mexico City.
Iztapalapa, another eastern borough, provides similar pricing ranges and represents one of the largest delegations in the city. Despite its size, property prices remain affordable due to its distance from central business districts.
Various outskirt areas in the east and south of Mexico City offer properties in the USD 1,200-1,500 range. These areas typically have less developed infrastructure and longer commute times to central areas.
Some specific boroughs with limited development or reduced access to public transportation and business districts can offer even lower prices, though these require careful consideration of long-term growth potential and infrastructure development plans.
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How has the average price per square meter changed in the last 12 months?
Mexico City's residential property market experienced robust growth over the past 12 months, with average prices per square meter increasing by approximately 8.1% year-over-year from 2024 to 2025.
This growth rate significantly exceeds Mexico's general inflation rate, indicating strong real estate market fundamentals. The increase reflects sustained demand pressure combined with limited supply in desirable central locations.
Rental prices showed even stronger growth, rising 10-15% in key neighborhoods during the same period. This rental price acceleration has been driven by gentrification processes, an influx of digital nomads and international workers, and continuous improvements to local services and infrastructure.
Certain neighborhoods experienced above-average growth, particularly areas undergoing rapid gentrification or infrastructure improvements. Roma, Condesa, and developing areas in previously less desirable locations saw some of the strongest price appreciation.
The consistent price growth reflects Mexico City's increasing appeal to both domestic and international buyers, supported by the city's emergence as a major hub for remote work and international business operations.
What is the long-term trend in price per square meter over the past 5 to 10 years?
Mexico City's residential property market has demonstrated consistent long-term growth, with average annual price increases of 5-8% citywide over the past five years.
The cumulative growth over this period has been substantial, with premium neighborhoods like Polanco, Roma, Condesa, and Santa Fe experiencing up to 30% total price appreciation. Some emerging boroughs, such as Venustiano Carranza, have seen even more dramatic growth of 55% over five years.
Historical data shows that average prices have increased from approximately USD 1,800 per square meter in 2020 to USD 2,500 per square meter in 2025. This represents nearly a 40% increase over five years, significantly outpacing inflation and demonstrating the market's robust fundamentals.
The growth trend has been particularly pronounced in central areas, where land scarcity and increasing demand from both domestic and international buyers have driven consistent price appreciation. Areas with improved transportation links or undergoing urban renewal projects have experienced the strongest growth rates.
This long-term upward trajectory reflects Mexico City's growing importance as a regional economic center, improved infrastructure, and increasing international recognition as an attractive place to live and invest.
How does the price per square meter differ between houses and apartments?
Apartments consistently command higher prices per square meter than houses in Mexico City, with a significant premium for vertical living options.
As of September 2025, apartments have a median price per square meter of MXN 60,955 (USD 2,500-2,600), while houses average MXN 39,952 (approximately USD 1,650-2,000) per square meter. This represents roughly a 35-50% premium for apartment living.
The price difference reflects several market dynamics. Apartments dominate the central Mexico City market and are more likely to be newly constructed with modern amenities. They typically offer better security, shared facilities like gyms and pools, and prime locations in high-demand neighborhoods.
Houses are more commonly found in peripheral boroughs where land costs are lower. They offer more space and privacy but often require longer commutes to central business districts and may have fewer modern amenities compared to new apartment developments.
It's something we develop in our Mexico property pack.
What is the price per square meter for newly built properties compared to older ones?
New developments in Mexico City command a significant premium over older properties, reflecting buyer preferences for modern amenities and construction standards.
| Property Age | Price per sqm (MXN) | Price per sqm (USD) |
|---|---|---|
| New developments (2024) | 60,839 | 3,003 |
| Second-hand/older properties | 44,396 | 2,191 |
| Premium difference | +16,443 | +812 |
| Percentage premium | 37% | 37% |
| Luxury new builds | 80,000+ | 4,000+ |
New and luxury apartments often cost 30-40% more per square meter than older stock, reflecting the premium buyers place on modern construction standards, energy efficiency, and contemporary design features.
This premium reflects several factors including modern security systems, energy-efficient appliances, updated plumbing and electrical systems, and compliance with current building codes. New developments also typically offer amenities like fitness centers, rooftop terraces, and concierge services.
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What is the price per square meter for rental properties versus properties for sale?
The relationship between rental prices and sale prices per square meter in Mexico City varies significantly by neighborhood, with rental yields generally ranging from 4-6% annually in central areas.
Prime rental neighborhoods like Tabacalera command over MXN 67,000 per square meter annually in rental value. For a typical 52-square-meter apartment, monthly rents can range from MXN 12,000 in affordable areas to MXN 67,000 in premium locations.
The rental market has experienced faster growth than the sales market in many areas, with rents rising 10-15% year-over-year compared to 8.1% for sale prices. This trend reflects strong rental demand from international workers, digital nomads, and young professionals who prefer flexibility over ownership.
Sale prices per square meter are typically much higher in absolute terms than rental prices because they capitalize long-term growth expectations and ownership benefits. However, the rental market provides more immediate cash flow opportunities for investors.
Areas undergoing gentrification show particularly strong rental price growth, as improved amenities and infrastructure attract higher-income tenants willing to pay premium rents for desirable locations.
How does the price per square meter compare to other major cities in Mexico?
Mexico City ranks as the second most expensive major city in Mexico for residential real estate, slightly behind Monterrey but well ahead of other major metropolitan areas.
| City | Avg. Price per sqm (MXN) | Avg. Price per sqm (USD) |
|---|---|---|
| Monterrey | 73,975 | 3,800+ |
| Mexico City | 67,000-70,000 | 2,500-3,300 |
| Guadalajara | 52,830 | 2,000-2,500 |
| Mérida | 24,000-37,700 | 1,200-2,000 |
| Cancún | 45,000-55,000 | 2,200-2,750 |
Monterrey currently holds the position as Mexico's most expensive major city for real estate, with average prices exceeding USD 3,800 per square meter as of 2025. This reflects the city's strong industrial economy and high income levels.
Guadalajara, Mexico's second-largest city, offers more moderate pricing at USD 2,000-2,500 per square meter, making it an attractive alternative for buyers seeking major city amenities at lower costs than Mexico City or Monterrey.
What is the price per square meter in U.S. dollars compared to Mexican pesos?
The current exchange rate significantly impacts how Mexico City property prices appear to international buyers, with the peso-dollar relationship affecting affordability for foreign investors.
As of September 2025, the average price per square meter translates to approximately USD 2,500, based on an exchange rate of roughly 20 Mexican pesos per US dollar. In peso terms, this represents MXN 50,116 per square meter citywide.
Price ranges vary dramatically by location: outer boroughs start at USD 1,200 per square meter (MXN 24,000), while ultra-luxury developments in areas like Bosque de Chapultepec can exceed USD 6,000 per square meter (MXN 120,000).
For international buyers, the peso-denominated pricing can offer opportunities when the peso weakens against the dollar, though this also reflects broader economic conditions that may affect long-term property values and rental income potential.
Exchange rate fluctuations can significantly impact the attractiveness of Mexico City real estate for international investors, making timing and currency hedging considerations important factors in investment decisions.
What are the main factors driving changes in the price per square meter in Mexico City right now?
Several key factors are currently driving price changes in Mexico City's residential real estate market, creating sustained upward pressure on prices per square meter.
Limited supply of new construction in central locations represents the primary constraint driving price increases. Zoning restrictions, high land costs, and complex approval processes limit new development in the most desirable neighborhoods, creating scarcity that supports price appreciation.
Foreign investment has intensified significantly, driven by digital nomads, U.S. retirees, expatriate professionals, and multinational companies establishing operations in Mexico City. This international demand brings higher purchasing power and different price expectations to the local market.
Gentrification processes in previously underdeveloped neighborhoods drive both rental and sale price increases. Service upgrades, infrastructure investments, and lifestyle improvements attract higher-income residents, displacing lower-income populations and raising overall area values.
Macro economic trends including continued urbanization, a rising middle class, improved job market conditions, and Mexico City's growing reputation as a remote work hub all contribute to sustained housing demand that exceeds supply growth.
Modern amenities and security features increasingly drive buyer preferences, with new builds offering gated communities, advanced security systems, and luxury amenities commanding significant premiums over older properties lacking these features.
It's something we develop in our Mexico property pack.
Conclusion
This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.
Mexico City's residential real estate market demonstrates strong fundamentals with consistent growth patterns and significant neighborhood variation.
Current pricing at USD 2,500 per square meter citywide reflects a mature market with opportunities ranging from affordable peripheral areas to ultra-luxury central developments, making it accessible to diverse buyer profiles and investment strategies.
Sources
- The LatinVestor - Mexico City Average Apartment Prices
- The LatinVestor - Average House Price Mexico City
- The LatinVestor - Mexico City Real Estate Market Data
- CDMX Secreta - Expensive Neighborhoods to Live in CDMX
- Stop Having a Boring Life - Cost of Living in Mexico
- The LatinVestor - Mexico City Price Forecasts
- Le Monde - Locals in Mexico City Rise Up Against Gentrification
- Properstar - Mexico City House Prices
- Global Property Guide - Mexico Price History
- The LatinVestor - Monterrey Price Forecasts