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Operator benchmarks, demand drivers, deal archetypes, regulatory pointers.
Mexico City is one of the highest-margin emerging-market coliving destinations. Permissive regulatory environment, accelerated post-2020 inflow of US/EU remote professionals to Roma/Condesa, low operating cost structure relative to per-bed revenue. Operator-led market still small (~1,500 beds) but growing rapidly.
RevPAB (monthly)
$420-$650
ADR (per bed-night)
$15-$22
Stabilized occupancy
85-93%
Avg length of stay
4.5 months
Property OpEx ratio
45-55% of revenue
Cap rate range
8-11% (stabilized, emerging market premium)
Target IRR
16-22% (3-year hold)
Roma Norte, Condesa, Juárez are now established remote-work hubs. US / EU citizens taking advantage of Mexico's tourist-visa-up-to-180-day rules + low cost of living. Average stay 3-6 months.
Argentinian, Venezuelan, Colombian professionals, migration drivers vary but coliving captures the 'first 6-12 months in CDMX' transition.
Mexican professionals 25-35 priced out of solo apartments in Roma/Condesa. Lower ARPU but longer LOS and more predictable occupancy.
UNAM, ITAM, Tec de Monterrey, exchange / international segment 4-10 month stays.
~1,500 operator-led coliving beds across CDMX. Outsite has flagship Roma Norte presence. Selina + multiple boutique operators concentrated in Roma, Condesa, Juárez, Doctores. Long tail of unregistered Airbnb-style operators alongside compliant operators.
Mexican family offices + US-based RIA capital active at 5-25 unit scale. Most growth funded by operator-level equity rather than property-level institutional. USD-denominated lease pricing common, MXN debt available but FX-volatile.
Pre-1980 multi-storey townhouses common in Roma + Condesa. $400k-$900k acquisition (USD-denominated due to landlord preference), $80k-$150k coliving fit-out. The default boutique operator deal.
Take floor-by-floor or whole-building master leases on residential apartment buildings. Common Outsite + Selina structure.
Doctores, Santa María la Ribera, San Rafael, neighborhoods 12-24 months behind Roma/Condesa demand-wise but with sub-50% rent levels. Suits operators willing to absorb early-mover demand uncertainty.
$420-$650 per bed per month at stabilization. Roma Norte premium product reaches $700-$900. Doctores / San Rafael edgy-neighborhood product $300-$450.
Light. Standard residential rental licensing applies. Sub-30-day tourist accommodation does have CDMX-specific rules (since 2024 STR consultations) but residential coliving with standard furnished-tenancy structure remains permissive.
4.5 months blended. Remote-worker / digital-nomad segment 3-6 months. Latin American professional + Mexican local segments 6-9 months. The mix has shifted longer since 2023.
8-11% on stabilized. Emerging-market premium reflects regulatory drift risk and FX exposure. Cap rates have compressed ~100bps since 2022 as the market has stabilized.
Last reviewed: 2026-05-11. Benchmarks refreshed quarterly. Spot something out of date? Tell us.
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