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Low-cost apartments in CDMX? In these areas you can find them

March 14, 2020

According to the latest edition of the Real Estate Market Reports (RMI), prepared by the portal, the Santa María la Ribera area is the one with the most accessible prices.

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The opinions expressed by collaborators are personal.

Low-cost apartments in CDMX? In these areas you can find themLow-cost apartments in CDMX? In these areas you can find them

In Mexico City there are neighborhoods where you can buy an apartment in the range of 700,000 pesos and 2 million pesos. In Properties.com we tell you what amount is the ideal monthly income that will allow you to acquire a home like this.

According to the latest edition of the Real Estate Market Reports (RMI), prepared by the portal, the Santa María la Ribera area is the one with the most accessible prices.

Leonardo González, Real Estate analyst of Properties.com , explains that before buying in a certain place it is important to know the areas of opportunity in the area, what use is given to the properties located in it (to live or as an investment instrument) or medium and long term performance prospects.

For this edition of the RMI, Propiedades.con analyzed 15 of the most dynamic areas of Mexico City, such as Santa Fe, Nuevo Polanco, Portales, San Rafael-Azcapotzalco, among others.

Santa María la Ribera

The report mentions that within the Santa María la Ribera area there are two economic colonies, these are Atlampa and Agriculture. In them the average price of a new apartment for sale is 715,000 pesos and 773,856 pesos, respectively.

If the BBVA Mortgage Credit Simulator is taken as a reference, the ideal monthly income to buy in Atlampa should be 20,115 pesos and in Agriculture 21,757 pesos.

For this, it is recommended to request a mortgage credit equivalent to 60 percent of the value of the property, contract it for a term of 10 years, fixed rate and in pesos.

If your budget is higher, there is Tlatilco where you can buy a new apartment for 1.9 million pesos, and Agriculture where the average cost of a used one is 1.4 million pesos.

According to the mortgage simulator, the income required to be able to buy in these neighborhoods ranges from 39,800 to 44,678 pesos per month.

The Santa María la Ribera area is ideal for those who ride a bicycle, since the Annual Public Work Program for fiscal year 2020, informs that in the medium term a bicycle path will be built on Rivera de San Cosme, which will go from Circuit Interior to Av. De los Insurgentes.

San Rafael-Azcapotzalco

This area is central and cheap. In it is the A Home For Us neighborhood where you can buy a new apartment for 984,304 pesos or a used one for 1.1 million pesos.

The monthly income that will allow you to cover the payment of the property is 27,625 pesos per month if it is a new one and 33,216 pesos for a used one.

Here also requires a mortgage credit equivalent to 60 percent of the value of the property, contract it for a term of 10 years, fixed rate and in pesos.

According to data from the Government of Mexico City, a program that can benefit the San Rafael-Azcapotzalco area is Tacuba Vive , which consists of rehabilitating various spaces such as the Cine Cosmos, the Cañitas Park and the Tacuba market.

Other options to buy in less than 2 million pesos are Nextitla and Popotla, neighborhoods where there are new and used apartments with an average price in the range of 1.06 and 1.6 million pesos.

New Polanco

If you work in a business center like Polanco, you may be interested in living nearby to shorten travel times, save money and have a better quality of life.

One option is the Nuevo Polanco area, specifically the Mariano Escobedo neighborhood. In it you can buy a used apartment for 1.4 million pesos and the ideal income that you should receive is 39,266 pesos per month.

The option is to contract a mortgage credit equivalent to 60 percent of the value of the property, for a term of 10 years, fixed rate and in pesos.

The Nuevo Polanco area is located in Miguel Hidalgo City Hall, a place where the issue of security is a priority for local authorities with the Seguro Contigo program. This consists of fighting crime incidence, delivering neighborhood alarms and installing lighting.

Mixcoac

This area includes nine colonies, of which one has affordable prices. This is Alfonso XIII, where a new apartment for sale has an average price of 1.5 million pesos, and a used one of 1.4 million pesos.

Here, the ideal income is between 39,647 and 42,282 pesos per month. The option is to contract a mortgage credit equivalent to 60 percent of the value of the property, for a term of 10 years, fixed rate and in pesos.

Coyoacán

In this area there are new and used apartments that fit your budget. They are located in the neighborhoods of Barrio de la Concepción, Del Carmen, Ex-Hacienda de Guadalupe, Chimalistac and Villa Coyoacán.

The average price of new properties in the first three ranges from 1.6 million pesos to 1.7 million pesos, while the used ones cost from 1.2 to 1.6 million pesos.

To buy in any of these places, the required income ranges from 35,002 to 40,206 pesos per month.

The strategy for these neighborhoods is also to have a mortgage equivalent to 60 percent of the value of the property, for a term of 10 years, fixed rate and in pesos.

Do you have between 700,000 pesos and 2 million pesos? Here you can buy an apartment.

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