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Property prices in San Miguel de Allende

Hello everyone,

Finding affordable housing in San Miguel de Allende is number one priority for newcomers. Tell us more about the estate market in your district/city/region.

What are the most desired places to live? What are the most affordable ones? What is the average cost of a rented flat? And what is the average sale price for an appartment or a house? Could you tell us more about local real estate policies/procedures? What about property tax or residency tax in San Miguel de Allende?

What about you? Where do you live now? Is it a place you would recommend?

Thank you in advance for your clarifications.

Priscilla

Priscilla, I sold a home in San Miguel this year for only $88,000 USD, but that low of a price is uncommon. I've attached a link for another new home that is only $159,000 USD in a gated golf community, but it is four minutes out of town.  Centro is always the most desirable location (buyers want to walk everywhere) so conversely, values are higher in Centro.  The further from Centro, the more affordable the value!

**
Saludos,
Greg

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What are the most desired places to live?

My answer is obviously biased, but I think living on the outskirts of El Centro (in San Miguel de Allende (SMA)) is better. El Centro can get a bit noisy as SMA tends to have many events that involve fireworks. Where I live (in a place called Los Frailes - un fraccionamiento), the fireworks are mostly not noticeable. However, there are trains that pass by fairly frequently and through the night. So the best area, in Los Frailes, is away from the tracks.

There are many places for sale in this area and that could be one of the reasons. I am not interested in buying, at least not yet, so am not familiar with costs.

Renting is fairly good although it can be quite high depending on who you ask. Real Estate agents generally will not call you back if you ask for a rent of less than $1000/month US. At least that was the case for me.

I lucked out as I met a Mexicana who wanted to have someone live in her house while she was not here. So my rent is unusually low and for a very nice place. The only exception is the the noise from the trains passing by.

I passed by a very nice area down a short street with beautiful flowers hanging from the walls. It happened to be an apartment building. All apartments were currently rented and ranging from $350 US (for 1 bedroom) to $540 US (for 2 bedrooms). I was unable to see any of the rooms so I have no idea what the quality was like.

There are many places here for rent above $1500 US per month. And some, that I have seen, are not that great for that price.  But then there are  a lot of expats living here (and many have lived here for many years) and I believe that has increased the rents.

There is a very nice small town called Tequisquiapan (east of Queretaro by about 50 minutes) which is, in my opinion, nicer than SMA. It is quieter but for some it might be too quiet.

I had heard of several expats that had moved there and then returned to SMA because they felt there was not enough to keep them busy. SMA certainly has a lot of things to do. And because there are a lot of expats here a person could get by without learning Spanish (although I would not recommend it) and, if you like spending time with other expats this would be the place to do it.

I like quiet so eventually will seek out a place like Tequis.

One couple I recently met in Tequis had purchased a four bedroom house for around $158,000 CDN. I never saw the place so don't know what quality it was. But they did tell me they had sold their house in Canada for a lot of money, so I suspect they had the money to buy a more expensive place if the quality at that price had not been sufficient for them.

I was told by a local (to Tequis) that it was fairly common to rent a 2 bedroom / 2 bath furnished house with a backyard for between $400 and $700 US per month depending on the quality you preferred. He also said never tell a real estate agent what your top rental price is. The $400 price would most likely not be in a gated community; whereas, the $700 price would likely be in a gated community.

There is another very nice looking place called Morelia (at an elevation of about 6300 ft above sea level, just 100 ft more than SMA, and south of SMA by about 2 hours driving distance). There is a lake near by that looks beautiful with lots of trees surrounding the lake. It reminds me of back in British Columbia, Canada where I am from. It is definitely on my radar to visit.

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