Oaxaca’s Jalatlaco Looks the Way It Did 100 Years Ago

The neighborhood in Mexico boasts colorful, colonial-style architecture

Jalatlaco, a centuries-old romantic neighborhood in Mexico’s Oaxaca City, is a placid place defined by its ever-present past.  It’s an idyllic oasis of colorful colonial architecture and contemporary coffee bars. And of quaint cobblestone streets that lead to avant-garde restaurants.  And at Jalatlaco, relaxation rules. Civilization, for those who desire it, is a short stroll away in Centro Histórico, the heart not only of Oaxaca City, but also of Oaxaca State.

alatlaco, a centuries-old romantic neighborhood in Mexico’s Oaxaca City, is a placid place defined by its ever-present past. It’s an idyllic oasis of colorful colonial architecture and contemporary coffee bars. And of quaint cobblestone streets that lead to avant-garde restaurants. And at Jalatlaco, relaxation rules. Civilization, for those who desire it, is a short stroll away in Centro Histórico, the heart not only of Oaxaca City, but also of Oaxaca State.

Boundaries

In the center of Oaxaca City, Jalatlaco is bordered by Calzada Niños Heroes on the east, Boulevard Eduardo Vasconcelos on the south and Calzada de la Republica on the north. The western border, which comes to a sharp point, is the termination of the streets forming the north and south sides.

Price Range

Typically, prices start at US$180,000 for a two-bedroom, two-bathroom house, according to Dolores Pérez Islas, general director and CEO of the real estate investment company Silmexico. (Prices in Oaxaca are often quoted in U.S. dollars.)

“The average house in this price category is a fixer-upper that needs some love to regain its beauty,” she said. “Most of the properties have been under the same ownership for more than 50 years.”

Remodeled homes that have two bedrooms, two bathrooms, a kitchen, a living room and a dining room generally sell for US$350,000 to US$500,000, she said, adding that those with more amenities and bedrooms can cost US$800,000 or more.

Homes in a great location on one of the neighborhood’s main streets in the main square command US$800,000 to US$1.5 million, she said, noting that “they have potential to be boutique hotels or Airbnbs.”

She added that such properties are “in operation, producing great capital gains,” due to low costs and potential rental incomes.

John Harvey Williams, an owner/partner of Real Estate Oaxaca, noted that because Mexico doesn’t have an MLS, the prices recorded on deeds are frequently lower than what’s actually paid.

“Real estate values in Mexico are the sum of the value of the land and construction,” he said. “Land in Jalatlaco is valued at around US$100 per square foot. Construction is valued at from zero for a tear-down to around US$75 per square foot for the finest quality construction and finishings.”

Empty lots in Jalatlaco, however, are few and far between. “I can think of only a half dozen that are empty now, and none of them are for sale,” he said.

He noted that increasingly, tear-downs are being replaced by luxury houses. “The neighborhood is gentrifying big time because of the value of the land,” he said.

 

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