Real estate dynamics at the crossroads of two metropolitan roads

Paseo de la Reforma and Avenida de los Insurgentes in Mexico City

Abstract

The intersection of the two most important avenues in Mexico City, Insurgentes and Reforma, were identified by Mario Pani in 1945 as the new center of the city. Today they form the most significant crossroads at the metropolitan level and attract real estate investment, informal activities, political tours and road conflicts, so the transformation of the built space is intense and varied in nature. In the present work we approach the junction from perspectives that privilege the behavior of the real estate market and the changes in the building image.The analysis is based on data on land prices and new apartments offered in the area between 2002 and 2007 and allows us to discuss the process of expansion of centrality in which this crossroads has played an important role since the first half of the last century.In the end, we estimate the direction in which this process will advance in the medium term.