San Miguel de Allende is one of Mexico's most popular expat destinations for its wide variety of accommodation options. But how to proceed? Find out in this article.
San Miguel de Allende is a developed city with a prosperous economy. It thus attracts, every year, thousands of expatriates, professionals, retired senior citizens, students, as well as investors seeking business opportunities there. In fact, many foreigners have invested in real estate development projects there, thus booming the real estate market. So if you are moving there, you will not have much trouble in finding accommodation, whether in the city center or in outskirts.
The city is also famous for its pleasant lifestyle, allying a colonial architecture to modernism. You can also enjoy various leisure activities there, and learn more about its arts, culture and history, together with learning Spanish.
Real estate market
The city's real estate market has an urgency to respond to accommodation demands. Thus, numerous real estate development projects are currently ongoing in its different neighborhoods. Accommodation demands are more important in San Miguel de Allende's historical center. To date, the region consists of many old colonial style houses. But more modern and luxurious apartments and houses can also be found in some neighborhoods.
Rent and real estate purchase prices have dropped by 35 to 50% since the world economic crisis. Thus, you will need some US$ 1,500 to US$ 1,750 to rent a two bedroom apartment with two bathrooms, internet and cable TV and including maintenance service. To buy an apartment in the city center, you will need an average of 130,000 dollars. Prices can rise up to more than 1 million dollars in posh neighborhoods.
Most real estate transactions in San Miguel de Allende are carried out by real estate agencies. So you are advised to register with one of these, whether you wish to rent or buy accommodation in the city. You can as well check out classified ads in local newspapers and real estate websites. Young professionals and students may also check out flat sharing offers.
Compartodepa – Flat sharing www.compartodepa.com.mx
Mexican Real Estate Professionals Association www.ampisanmigueldeallende.org