Friday, June 14, 2024

San Pedro Garza, Nuevo León, among Mexico’s priciest apartment rentals

One of the most expensive places to rent an apartment in Mexico is in Nuevo León, according to data from the property website Inmuebles24.

San Pedro Garza García, on the outskirts of Monterrey, is home to three of the priciest neighborhoods in the country. Fuentes del Valle was the most expensive of them in January at 21,920 pesos (US $1,080) per month for a 65-square-meter apartment on average, a 21% increase over January 2021.

Valle Oriente in San Pedro Garza García was only marginally cheaper, while Valle de Campestre and Villas de San Augustin also both cost above 20,000 pesos ($985).

The news may come as a surprise to citizens in Mexico City’s upscale areas, who are used to forking out hefty sums every month for their apartments.

In January, 2021, Polanco Chapultepec was the capital’s most expensive neighborhood at 22,822 pesos ($1,144). However, prices fell 11% in 2021, a trend that was reflected in Mexico City’s four other most expensive neighborhoods.

Iztapalapa, the most populous borough in Mexico City, is also one of the most affordable.
Iztapalapa, the most populous borough in Mexico City, is also one of the most affordable.

Polanco Chapultepec still remains the priciest neighborhood to rent in Mexico City, followed by Los Morales Sección Alameda and Polanco Reforma. All three neighborhoods are in Miguel Hidalgo where some of the most expensive properties can cost as much as 110,000 pesos ($5,420) per month, the news site Infobae reported.

The site also reported that in Jardines del Pedregal de San Ángel in Coyoacán, some owners charge as much as 125,000 pesos ($6,158) for a month’s rent.

Jalisco and Querétaro both offer more affordable upscale areas. In Guadalajara, Residencial Virreyes in Zapopan Sureste tops the list at 16,948 pesos ($835) on average.

In Querétaro, Fraccionamiento Lomas del Marques in Cayetano Rubio is the most expensive area at an average 13,999 pesos ($690).

Meanwhile, in Mexico City, not all neighborhoods threaten to leave renters out of pocket. There are five where apartments are available for less than 7,000 pesos, according to the property sites Segunda Mano and Propiedades.com.

Those neighborhoods are Romero Rubio in Venustiano Carranza, Asturias in Cuauhtémoc, Lindavista Sur in Gustavo A. Madero, San Miguel Topilejo in Tlalpan and Apatlaco in Iztapalapa.

  • NOTE: parts of this story were edited after publication for increased clarity.

With reports from Infobae and Inmobiliare

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