The Rising Trend of Vertical Housing in Mexico City
Finding a place to live in Mexico City can seem daunting, especially for those seeking proximity to work, wishing to avoid lengthy commutes, and aiming to save on expenses. As a result, young adults are increasingly opting for apartments as their primary housing choice due to better locations, enhanced security, and adaptability to the fast-paced lifestyle of students, workers, or those juggling both.
Data on Housing in Mexico City
According to the 2022 Population and Housing Census by the National Institute of Statistics and Geography, Mexico City boasts approximately 2.9 million private dwellings. Of these, over 1.79 million are standalone houses, while around 907,000 are apartments in buildings.
Factors Driving the Preference for Vertical Housing
Several key factors have fueled this preference for vertical housing in the urban areas of Mexico City, where space is limited and mobility dynamics necessitate new living arrangements. These factors include proximity to workplaces, services, and public transportation; the presence of security systems and surveillance; and the inclusion of amenities like terraces, gyms, and shared workspaces. Moreover, maintenance costs are typically lower for apartments due to shared services among co-owners.
Pre-sale Factor
Price has become a crucial differentiator. In neighborhoods such as Portales, Escandón, Santa María la Ribera, Narvarte, and Álamos, buyers can find apartments for sale with prices ranging from 2.5 to 4.5 million pesos. In contrast, a house in these areas could exceed 7 million pesos, with higher maintenance requirements and a more limited supply.
“Today, more than ever, purchasing an apartment in pre-sale is a smart decision. Not only does it represent an asset, but it also better addresses the needs of those living in a dynamic, diverse, and interconnected city like Mexico City,” stated Cristiano Tateshita, General Director of Tudepa.com.
According to Tateshita, this price difference has led many buyers to choose pre-sale apartments: “An increasing number of young professionals, childless couples, and even older adults seeking a simpler life are opting for apartments that provide mobility, comfort, and long-term value. This trend reflects not only the market but also a new way of inhabiting the city.”
Shifting Buyer Profiles
The market has also witnessed changes in buyer profiles. Young professionals, childless couples, and older adults are increasingly choosing apartments that offer greater mobility, practicality, and long-term value.
The Vertical Housing Advancement
Although horizontal housing still dominates in absolute terms, vertical housing is rapidly advancing in Mexico City as a response to challenges related to densification, territorial efficiency, and quality of life.
Key Questions and Answers
- What is driving the preference for apartments in Mexico City? Key factors include proximity to workplaces, services, and public transportation; enhanced security systems; amenities like terraces and gyms; and lower maintenance costs.
- How do apartment prices compare to houses in popular Mexico City neighborhoods? Apartments for sale in areas like Portales, Escandón, Santa María la Ribera, Narvarte, and Álamos range from 2.5 to 4.5 million pesos, while houses in these neighborhoods can exceed 7 million pesos.
- Who is driving the demand for apartments in Mexico City? Young professionals, childless couples, and older adults are increasingly choosing apartments for their mobility, practicality, and long-term value.
- Why is vertical housing gaining popularity in Mexico City? Vertical housing is advancing as a response to challenges related to densification, territorial efficiency, and quality of life in the urban setting.
