The Real Estate market in San Miguel de Allende has shown significant gains for investors after the US recession in 2008. It has become one of the top destinations for buying a second home by US and Canadian residents. There are a number of reasons which make San Miguel de Allende an obvious choice for retirees, young expats, and real estate investors.
Its world heritage status by UNESCO, pleasant weather, thriving culture, colonial architecture and popularity as a tourist destination make it a great place for Mexican and US buyers to invest. The cost of buying land here varies depending upon whether it is located in Centro or the surrounding area. Centro is one of the most desirable areas to buy real estate in San Miguel de Allende and is full of activity. The cost of property in Centro Histórico is around $2,000 US per square meter. But outside of Centro Histórico you can find properties that are 10-15 minutes walking distance from Centro at a more affordable price range of $250-$500 per square meter. [Read more…]