Mexico City is one of the Latin American metropolises with the highest rental prices, it ranks fourth in prices for 2,269 dollars per square meter, behind Santiago de Chile, Montevideo, Uruguay and Buenos Aires.

The increase in housing prices and services in neighborhoods of the country's capital has caused original residents to be unable to sustain their standard of living and have had to migrate to surrounding areas.

During this February, complaints increased on social networks, derived from a tweet from an American person who proposes to work remotely in Mexico, which generated a conversation about gentrification and the high costs of living in CDMX.

According to the University of America Foundation, gentrification is defined as an urban phenomenon in which a neighborhood, due to certain circumstances, acquires greater surplus value, which causes it to become attractive for a sector of citizens, with a higher purchasing power, to direct their gaze to this, encouraging the development of new real estate projects, which begin to modernize the environment.

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Consequently, the price of rents rises, the buildings are inhabited by more people from other socioeconomic segments and, therefore, the urban appearance is completely transformed. In other words, the people originally living in the area begin to leave because they can no longer sustain their standard of living.

In the City of the country there are two characteristic colonies for being the most demanded for years, and for the high costs that exist not only in housing, but also in services and entertainment: Polanco and Condesa.

“La Condesa emerged at the beginning of the last century, with a high-income population and in 1985, and although it was not affected in its buildings like the Roma, the collective panic due to the earthquakes generated a diaspora towards Polanco, Tecamachalco, Interlomas and Bosques de las Lomas, and even to other states of the country.

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Prices fell and as the Countess has always been attractive (for its green areas, public spaces and art deco and art nouveau architecture) many people, including residents of Roma, began to revitalize it; they went to live there and opened traditional trade businesses,” said Luis Alberto Salinas, a researcher at the UNAM Institute of Geography, in a university bulletin.

In 1995 there were around eight restaurants, bars, tortilla shops and shops. In 2015, the number of establishments rose to 150, which generated a great social and visual transformation.

“Real estate and commercial development has led to an increase in property taxes and services such as water and electricity, according to university research. Both the settlers who can no longer afford to live there, as well as those who have sufficient resources, go to other parts of the city, because the neighborhood has changed”, added the expert.

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