San Miguel de Allende Real Estate

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Overview of the real estate prices in San Miguel de Allende, Guanajuato, Mexico

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CITY GUIDE
SAN MIGUEL DE ALLENDE, MEXICO

San Miguel de Allende is located in the center of Mexico in the state of Guanajuato. There are approximately 140,000 people living within the 955 square miles. The city is less than 200 miles from Mexico City.

In 2013, Conde Nast Traveler Readers’ Choice Awards named San Miguel de Allende as the World’s Best City. The city offered a “great atmosphere, excellent restaurants, culture and ambiance galore” which are a few factors as to why it is increasing in popularity. There are three colleges located in San Migeul de Allende: Instituto Tecnologico SSC, a campus of the Universidad de León, and Universidad Tecnologica de San Miguel de Allende.

Culture, history and religion play a major role in San Miguel de Allende’s lifestyle. Over 96% of its citizens belong to the Catholic faith. The city is considered a great location for artists and San Miguel de Allende celebrates its art with writers’ conferences and film festivals. Many foreign artists have sought the inspiration of San Miguel de Allende.

San Miguel de Allende was home to indigenous people prior to the arrival of the Spanish. The post-colonial period has left a considerable mark on the land through its baroque/ neoclassical structures and religious buildings. The city was considered to be founded by Father Juan de San Miguel.

You’ll find the Fábrica La Aurora which is home to many art galleries and design studios and the Mercado de Artesanías which is an arts and crafts market in San Miguel de Allende.

San Miguel de Allende is situated around the Sierra Central Mountains and is considered to have a temperate and slightlyarid climate. March, April and May are the hottest months with high temperatures averaging in the mid-80s. The coolest months are December and January when lows at night can dip into the low-40s. The rainiest months are June through September. During these four months, the area receives 70% of its average annual rainfall.

Real estate and rentals are less expensive here than in other parts of Mexico but the amenities tend to cost a little more. There are homes, condos and apartments available to suit all budgets and preferences with newer construction available the further away from the historic Centro that one goes.

Foreigners and those looking to escape from Mexico City flock to San Miguel de Allende. In fact, one estimate puts the foreign population near 22,000. While many expect Mexico to be cheap and affordable, San Miguel de Allende has received considerable investments and has become a desirable place to live.

KEY FACTS:

San Miguel de Allende, Mexico

San Miguel de Allende, Mexico
  • Country: Mexico

  • State: Guanajuato

  • Nickname: The San Francisco of Mexico

  • Population: 139,297

  • Area:

    Municipality: 1,558.96 km2

Lifestyle

Lifestyle and Culture

There are many museums, parks, historical sites and churches in San Miguel de Allende. La Esquina: Museo del Juguete Popular Mexicano is a museum of toys collected throughout all Mexico. Mirador is a park offering incredible views of San Miguel de Allende. There are various chapels and churches dating back hundreds of years including Templo de la Concepcion, Templo de San Francisco and Iglesia de San Rafael. San Miguel de Allende hosts many festivals and events throughout the year and many have considerable religious meanings such as Semana Santa during Holy Week and Día de San Miguel Arcangel (Feast Day of San Miguel's Patron Saint). Other notable festivals are El Gritowhich is a celebration of Mexico’s independence and Dia de Locos. San Miguel de Allende is known for its artists’ presence. Ever since writers and painters discovered the city’s inspirational colonial structures, the city has been a haven for artists. Diego Rivera painted here and two renowned art schools are located here: Instituto Allende and the Escuela de Bellas Artes.

Lifestyle

Entertainment and Tourism

There are two main theaters in San Miguel de Allende: Teatro Ángela Peralta and Teatro Santa Ana. There are many classy restaurants and top-notch accommodations, too. Both foreigners and those looking for a vacation spot from Mexico City flock to San Miguel de Allende and discover the local ambience. While many older retirees are moving to San Miguel de Allende, the city is also catching the eyes of a younger crowd looking to embrace the artistic vibe. The nightlife is accommodating to all ages with some of the hottest spots being La Mezcaleria, Mama Mia, Berlin Bar and the Luna Rooftop Tapas Bar.

Entertainment and Tourism
Neighbourhoods

Districts & Neighborhoods

There are dozens of neighborhoods in San Miguel de Allende. El Chollo is the city’s oldest neighborhood dating back to 1555. With so many neighborhoods, there is a lot of diversity found in the city. Some of the neighborhoods include:

Centro

The Centro neighborhood is known for its cobblestone streets and historic buildings with Spanish style architecture. It is also home to many shops, art galleries, and restaurants. The main square, along with La Parroquia, a large gothic church, are the main gathering areas and focal points of the Centro neighborhood.


Balcones

Balcones is nestled east of Centro and is known for its marvelous views of the countryside and mountains. This upscale neighborhood offers many sought-after homes due to its views, proximity to the center of the city and access to El Charco del Ingenio – a beautiful botanical garden and nature reserve.

Neighbourhoods

Los Frailes

Los Frailes is an exclusive community offering both the joys of city life and country life. Mountain and lake views add to the beautiful sceneries and the word is the sunsets can’t be beat.

Paseo Real

Paseo Real is an up-and-coming residential neighborhood of San Miguel de Allende. The nice new homes are situated just ten minutes from the city center and a couple minutes from all the amenities one needs in a suburban town such as banks, schools and restaurants.

Real Estate Market

San Miguel de Allende’s rapid development has included new home construction within the municipality and the investment of international companies. Walmart, Starbucks and Home Depot are just a few of the most recognized corporations with retail locations in the city. Housing options are still quiteaffordable compared to major cities in the United States. Home prices are nearly 50% cheaper in San Miguel de Allende than in Mexico City and about 60% less expensive than in cities like Houston.

The housing market is tied directly to Mexico’s economy which, like most of North America’s, suffered a devastating economic collapse. But with plenty of inward investment and interest from expats, San Miguel de Allende has the roots in place to keep thriving. Everything from finely remodeled historic homes to modern houses and condos situated on the outskirts of the city center are of interest. Baby boomers looking to retire and foreigners eager to find an affordable, beautiful and welcoming location are eyeing San Miguel de Allende. More than 15% of the city is populated by expats who have discovered its small town vibe and colonial beauty.

Mexican citizens have also found San Miguel de Allende an ideal location for a second home. Being hours from Mexico City and centrally located in the center of the country, it is a tempting location in which to build or purchase a vacation home.



  • Price per Square Meter to Buy Apartment in City Centre: $2,564.48
  • Price per Square Meter to Buy Apartment Outside of Centre: $902.71
Home Style Average Rent Price
1-bedroom apartment in City Centre $737.02
1-bedroom apartment Outside of Centre $431.69
3-bedroom apartment in City Centre $1,950.09
3-bedroom apartment Outside of Centre $980.33

Source: www.numbeo.com (March 2021)

Education

Education

The city’s public schools are managedby the Secretary of Public Education. Public schools are free and funded by the government. However, students must be citizens in order to receive the free education. Foreigners looking to move to San Miguel de Allende, and there are quite a few who have, will have to pay for education whether it is at a public or private school. San Miguel de Allende is home to three colleges: Instituto Tecnologico SSC, a campus of the Universidad de León, and Universidad Tecnologica de San Miguel de Allende. The Instituto Tecnologico SSC is set upon a beautiful campus and offers several degree programs including mechanical engineering and business management.

Education
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