Remote workers land in Mexico City and housing prices soar
MEXICO – Karina Franco’s ornate Art Deco building in Mexico City’s historic center has long been the heart of a downtown lifestyle, home to families of artists and activists and supporting an ecosystem of street vendors.
But as the pandemic has upended office norms, a wave of remote workers from around the world has descended on Mexico City, the nation’s capital. The flow of foreigners has yet to slow, driving up housing prices, displacing residents and upending the fabric of neighborhoods.
In August, Franco and the other tenants in his building were informed by their landlord that their leases would not be renewed. Some units have quickly appeared on Airbnb — at rates more than four times the monthly rent — and new, mostly English-speaking neighbors are now filling the hallways.
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