Mexico City's government claims its Airbnb deal to facilitate work-from-home tourism will bring in $1.4B a year that will trickle down to local residents. But tenants' rights organizations say it will drive up rental costs and price locals out.
After nine years of renting an apartment in the touristy Condesa neighborhood, Paty Maciel was told she had 10 days to move out because her landlord wasn't renewing anybody's lease in the building, she told Axios Latino.
The landlord didn't explain why, but most of the apartments are now Airbnb listings, Maciel said, and theirare up to 10 times more than what she paid when she lived there, which was $400 a month. "I get owners can do what they wish with their property, but the fact that it's legal doesn't make it right. And the government, instead of regulating in favor of those who are vulnerable, is inviting more people to do it," Maciel said.Mexico City Mayor Claudia Sheinbaum said last month that inflation has also contributed to spiking rents and that there's no evidence Airbnb rentals are the sole cause.
The Airbnb partnership will also help showcase and lure people to less visited areas through an association with the United Nations Educational, Scientific and Cultural Organization. Airbnb didn't respond to requests for comment from Axios but the head of the Mexico office said during a news conference recently that its services provide locals with a source of income in response to a question about concerns of spiking rents.The big picture:
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