Polanco, the so-called Beverly Hills of Mexico, is the cultural center of Mexico City, the country’s capital, and is home to some of the most expensive real estate in Latin America.
Cosmopolitan, luxurious and cultural, Polanco is the sought-after enclave for those who want to be part of a vibrant social scene.
“It’s a casual and elegant neighborhood where you can find everything from freshly baked bread to the finest restaurants in the city within walking distance,” said Luis Diaz, luxury property specialist, Mexico Sotheby’s International Realty.
Calling it “the most exclusive and elegant neighborhood in all of Mexico,” John Stein, owner/real estate agent, Vive Polanco/Josh Stein Realtors, said “it’s the most coveted place to live in all of Mexico City . You could easily mistake Polanco for the best neighborhoods in London, Paris or New York City. Many of the wealthiest residents have private chauffeurs and security guards, live-in help, private chefs and full-time nannies. Despite wealth and fancy, Polanco is still very down to earth – the people are friendly and helpful.”
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limits
Polanco is bordered to the north by National Army Avenue, to the east by General Mariano Escobedo Avenue, to the south by Paseo de la Reforma Avenue and to the west by the Suburban Ring..
Price range
The general price range for luxury apartments is from US$6,000 to US$12,000 per square meter, said Laura De La Torre De Skipsey, luxury property specialist, Mexico Sotheby’s International Realty. (Prices are quoted in U.S. dollars for the international market.) She added that single-family mansions from the 1950s and 1960s, which are extremely rare, fetch $12 million to $15 million. Most of them have been converted into restaurants, hotels, offices and shopping centers.
Listed for $1.325 million, this apartment, in Semper Polanco, has three bedrooms, three full bathrooms, one half bathroom, a private elevator and three parking spaces. The building, which opened in 2022, has one apartment per floor and each unit has 270-degree views.
Translation: Semper Polanco
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Housing stock
Apartments, in low-rise buildings, are the predominant type of housing; typically, they are in the contemporary Mexican/international style.
“Some of the most exclusive residential projects are in smaller boutique-style buildings with 10 or fewer apartments and five stories or less,” Mr. Stein said. “They typically range in size from 1,500 to 4,000 square feet, which is large compared to apartments in other similarly large cities. Many have private helicopters on the roof and it is very common to see them take off and land throughout the day.
Newer developments come with a range of amenities, including a gym, swimming pool, a playground and a shared common area.
Ms. De La Torre De Skipsey noted that one of Polanco’s main complexes, Rubén Darío 225, has a swimming pool, a juice bar, a gym with high-end equipment, a library that gives away toys for children, a restaurant, a spa , a beauty salon, gardens and a multi-purpose space for social events.
This 3,928-square-foot apartment in a complex that was built in 2018 is listed for $5.9 million. There are two bedrooms, two full bathrooms, one half bathroom and a private terrace.
Sotheby’s International Realty
What makes it unique
“Polanco is the center for culture, shopping and dining,” said Ms. De La Torre De Skipsey. “And it’s surrounded by beautiful parks, including Chapultepec Park with its castle, and it’s close to all the important areas of the city. People want to live there for all these reasons, as well as its lifestyle, security and international atmosphere.”
Noting that it is the most cosmopolitan part of the city, Mr. Diaz said that “what makes it different from any other neighborhood is the fact that in a relatively small area, you have everything you need within the great metropolis that it’s Mexico City.”
He added that there are “spectacular views of the Bosque de Chapultepec,” which at over 1,695 hectares is one of the largest city parks in the Western Hemisphere. “There’s a zoo, trails, outdoor gyms and lakes.”
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Its natural beauty is another draw, according to Mr. Stein. “It’s one of the greenest neighborhoods in the city, with tree-lined avenues, beautiful fountains and lush landscaping on nearly every street.”
He added that the Polanquito section, the heart of Polanco, “is filled with hundreds of restaurants, bars and beautiful Lincoln Park. On weekends, this place is full of activity, and is the place to see and be seen. And it has a much richer nightlife than that of other trendy neighborhoods like Roma Norte or La Condesa.
Luxury equipment
The neighborhood is defined by luxury boutiques, delicious restaurants, museums, galleries, embassies and high-end hotels.
“All the gastronomy in Polanco is incredible,” said Mr. Diaz. “You can find all kinds of culinary experiences, from Mexican to Chinese, Japanese, Indian, contemporary, French, Italian, Spanish, Portuguese, Peruvian, Lebanese, Argentinian, steakhouses and seafood. There are also bars, clubs and places to have a nice drink with good music.”
Popular dining options include the Mexican restaurants Pujol, Hacienda de los Morales and Quintonil and the French restaurants Aud Pied de Cochon and Le Relais de Venise. Rosa Negra (Latin American cuisine), Nobu (Japanese), Puerto Madero (Argentinian and seafood), and Palm (steak and lobster) are other choices that reflect the neighborhood’s culinary diversity.
Avenida Presidente Masaryk, which has been called the most expensive street in Mexico, is lined with luxury boutique brands, including Louis Vuitton, Gucci, Hermes, Dolce & Gabbana, Tiffany and Cartier. Palacio de Hierro, the largest department store in Latin America, is also in the neighborhood.
Residents have the choice of several private clubs: Club de Golf Chapultepec, which has hosted the Mexican Open and the WGC-Mexico Championship several times, and Club Mundet, a fitness club that has tennis courts and gyms.
There are several private schools nearby where residents send their children. They include the American School Foundation, a co-educational preparatory school for international students ages 3 to 18; Humanitarian, which enrolls students from preschool to high school; Escuela Sierra Nevada, a multicultural school for preschool through high school students; Colegio Vista Hermosa, an International Baccalaureate program for preschool through high school students; and Greengates School, a British-style multicultural co-educational international school for students in primary to secondary grades.
Polanco is a museum mecca: Residents have access to the Museo Nacional de Antropología (Museum of Anthropology); Museo Rufino Tamayo, a public museum of contemporary art; Museo de Arte Moderno (modern art); Museo Jumex, which houses a private art collection in a public space; and the Museo Sumaya, which has over 66,000 works of art.
The exterior of the Plaza Carso building of Museo Soumaya.
Alejandro Perez / Unsplash
Who lives there
Polanco is a “rich pot all year round”, said Mrs. De La Torre De Skipsey, adding that “it is a place for families from all over the world”.
Residents range from embassy workers and diplomats to foreigners, celebrities, artists, designers and politicians, Mr. Diaz added.
Listed for $7.8 million, this 4,919-square-foot apartment on the 27th floor of 225 Ruben Dario has a terrace and a garage for more than five cars. The gated complex has a concierge, a security system, a spa/hot tub, a bowling alley, gardens, a terrace, an outdoor pool and concierge services.
Sotheby’s International Realty
Prominent residents
According to published reports, actress Maria Felix, who died in April, was a longtime resident of Polanco. Billionaire philanthropist Carlos Slim is a major force in Polanco, where he erected the Museo Sumaya as a memorial to his wife.
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Outlook
Calling the Polanco market “very stable,” with “a sought-after market value,” Ms. De La Torre De Skipsey said she is optimistic about the future because “prices continue to rise up to 10% a year, and there is high demand in this area.”
She noted that although the pandemic caused prices to fall — they fell about 10% during 2020 to 2021 but have recovered — it did not reduce demand, but changed what buyers were looking for. Today, buyers are more than willing to pay premium prices for properties with outdoor spaces and terraces, swimming pools and home offices, she said.
Noting that “the market is strong and prices in Polanco remain relatively calm with a steady annual increase,” Mr. Stein said that “it would be fair to say that highly desirable areas and luxury high-rises are increasing in value at least 5% to 10% per year.”
He noted that high demand and low inventory — “in some of the ultra-luxury buildings, there are very few units available for sale, and most of the luxury condos in the $5 million to $10 million range are sold” — will continue. push prices up.
Mr. Diaz said the neighborhood’s central location will always be coveted. Because it is surrounded by the Bosque de Chapultepec, real estate prices will continue to rise as “there is no place in the city that can compete with such spectacular views,” he said.
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