What's the price of a home, condo or apartment in San Miguel de Allende?

The price of real estate has to do with location here in San Miguel de Allende. You could have a condo or a house in different areas of town and they would vary in price. San Miguel is not a very expensive place but if you want to be on the best street or the most sought after street, obviously, it is going to be more expensive than if you buy a similar house 15 minutes away from that location.

 

You can find decent living and a nice house that is worth US...

The price of real estate has to do with location here in San Miguel de Allende. You could have a condo or a house in different areas of town and they would vary in price. San Miguel is not a very expensive place but if you want to be on the best street or the most sought after street, obviously, it is going to be more expensive than if you buy a similar house 15 minutes away from that location.

 

You can find decent living and a nice house that is worth US $50,000 to $60,000 located 15 minutes away from the most sought after areas of San Miguel. If you want to live the areas where the expat community normally lives, (although, many expats also live in areas where Mexicans live) in the more upscale areas, a 2-bedroom home would cost up to $700,000. A good example is the Rosewood Residences of San Miguel de Allende. A 2-bedroom unit there costs about $700,000. A 2-bedroom condo unit downtown would cost around $300,000. A small footprint house in the center of town would cost around $150,000 to $200,000. The price is driven by location because San Miguel’s town center and its immediate adjacent areas that are within walking distance to the center of town have a limited amount of available housing. When you have a limited number of available units, which drives the price up. If you have a healthy demand for housing, which we have, and you are undersupplied, then the price goes up. As you go away from those areas, then that effect goes away and the price goes down.

 

In general, San Miguel is not an expensive area. Our business focuses on nicer properties and you will find nice properties everywhere around San Miguel. 

 

A 2,100 square foot house, with three bedrooms, two bathrooms in a safe neighborhood that is a basic expat area located 15 minutes away from town would cost anywhere from $190,000 up to $500,000 depending on the level of finishing used and the location.

 

(Luxury home in San Miguel de Allende,Mexico, pictured.)

The price of a home in San Miguel de Allende is a big range. In San Miguel de Allende, you can get a little condo for US $100,000, you can get a really nice mansion for US $9 million, and you have everything in between. In Centro, it’s usually around $250,000 or $300,000 to get a place. The average cost of houses in the nicest parts in Centro would be around $500,000. 

 

The houses in San Miguel de Allende are quite expensive. For example, in San...

The price of a home in San Miguel de Allende is a big range. In San Miguel de Allende, you can get a little condo for US $100,000, you can get a really nice mansion for US $9 million, and you have everything in between. In Centro, it’s usually around $250,000 or $300,000 to get a place. The average cost of houses in the nicest parts in Centro would be around $500,000. 

 

The houses in San Miguel de Allende are quite expensive. For example, in San Miguel de Allende, you can purchase a 100 square meter (a little less than 1,100 square feet) 2-bedroom condominium in the nice part of the historic Centro for US $300,000. You can build a new one or rebuild in the historical area. If you go to San Antonio, which is 10 minutes from Centro, you can get a 220 square meter (about 2,400 square feet) 3-bedroom home with a garage and 2 ½ baths for US $300,000. 

 

The parts of San Antonio in San Miguel de Allende that are closest to Centro are more desirable than the parts that are further from Centro. Every house in San Miguel de Allende is different. You can have a very humble house next to an extremely expensive house. There are multi-million dollar homes that are big, but if you’re walking down the street, you might see this little façade with a door and a window, and could be a larger property- you will never know from the outside. And that’s kind of how it is- you’ll never know until you explore. 

 

The countryside in San Miguel de Allende is beautiful. There are developments out there- ranch properties, haciendas, etc. It depends on where you want to go. As an example, there’s an off-the-grid adobe house about 10 minutes from Centro. It’s a 3-hectare (about 7 ½ acres) property with a house, a little guesthouse, and a little area for animals. This property costs US $300,000. This property is not even connected to electricity, but they have solar systems and access to water.

 

It’s very hard to find lots in Centro, depending on what part of Centro you’re in. If you are right in the heart of Centro, you can pay US $1,250- US $2,000 per square meter for land (US 1.25 million to $2 million for a quarter of an acre) on the best parts. If you go to the north of Centro, it’s usually around $759 - $1,000 per square meter (759,000 to $1 million for a quarter of an acre), and you’re usually looking at very small lots; much smaller than a quarter of an acre.

 

The most expensive and most desirable parts of Centro in San Miguel de Allende are streets that go between the Jardin and Juarez Park. That’s where Rosewood Hotel is. The south side of the Parroquia in San Miguel de Allende is more expensive, especially if it’s between or around the park. 

 

Some people would think, since there are no empty lots in Centro that they like, they’ll just buy a ruin., demolish it, and construct something new. If the existing structure is old, however, they can’t just take it down. The walls are protected, so they work with what’s there. If it’s a new construction, they can take it down, but they would have to go to INAH (Instituto Nacional de Antropología e Historia) and let them determine what can and can’t be done to modify the property. For example, they would present their plan, and INAH would say there cannot be a big room in the front of the house because these walls are old. 

 

In purchasing properties in San Miguel de Allende, you can get an architect, which is the easiest way to determine what INAH will and will not allow. The architect can determine if the property is old or not, although you can tell pretty easily- the old properties have very thick walls. The architects can consult INAH and let you know before you purchase a property so you know what you’re looking at.

 

(Grand three story home in Centro, San Miguel de Allende, Mexico, pictured.)

The price of a home, condo or apartment in San Miguel de Allende depends on the size and location. A typical home size in Centro San Miguel de Allende would be 3,000 square feet and you'd be lucky to get it for US $700,000. But if you move that house to a good solid area that is not at the heart of Centro San Miguel, the same house could cost $450,000.

 

In Centro San Miguel de Allende, if you want a home with enough room to breathe and something that...

The price of a home, condo or apartment in San Miguel de Allende depends on the size and location. A typical home size in Centro San Miguel de Allende would be 3,000 square feet and you'd be lucky to get it for US $700,000. But if you move that house to a good solid area that is not at the heart of Centro San Miguel, the same house could cost $450,000.

 

In Centro San Miguel de Allende, if you want a home with enough room to breathe and something that you'd be proud to show other people, you're probably looking at spending more than half a million dollars. There is also a professional class neighborhood in San Miguel de Allende where the home values are probably $200,000 to $250,000 that are roughly 2,000 square foot homes in a nice area that’s close to the bus line and the supermarket. If you walk to the heart of Centro, it would be a 20-minute brisk walk. The prices of homes in San Antonio, San Miguel de Allende would be pretty similar to what I'm talking about. A typical nice home in San Antonio, San Miguel de Allende would be $250,000 to $350,000. I'm not as up on the market as I used to be, but that's my general sense of things. I once had a listing for million dollar home in Centro San Miguel de Allende but there are also a lot of homes that that price that are a dime a dozen.

 

(Craftsmanship in the kitchen cabinets in a home in the neighborhood San Antonio, San Miguel de Allende, Mexico, pictured.)

The price of a home, condo, or apartment in San Miguel de Allende varies tremendously based upon the location. A nice three-bedroom condo in a nice development in Centro would cost you around $280,000. If you move the same three-bedroom condo in a nice development 15 to 20 minutes outside of Centro, it would easily cost $100,000 less. You might even have more land.

 

If you were to buy a 100 square meter (1,000 square foot) lot here, it would cost roughly...

The price of a home, condo, or apartment in San Miguel de Allende varies tremendously based upon the location. A nice three-bedroom condo in a nice development in Centro would cost you around $280,000. If you move the same three-bedroom condo in a nice development 15 to 20 minutes outside of Centro, it would easily cost $100,000 less. You might even have more land.

 

If you were to buy a 100 square meter (1,000 square foot) lot here, it would cost roughly around 2 million pesos ($110,000) if it is a very good street in Centro. For the same amount, you can buy a three-bedroom home with two and a half bathrooms on the outskirts of San Miguel, which would already include the entire house and land. 

 

(18th century hacienda for sale outside of San Miguel de Allende, Mexico, pictured.)

Wow Readers, that’s like asking the price of a car!  Do you have a Kia budget or a BMW budget?

 

As a top Realtor here, I market myself as the Dream Pro and I always say that Dream Homes come in every budget! And remember, we are historic highs in the exchange rate between the dollar and the peso!

 

I have personally sold homes from $118,000 USD up to $1.9MM USD, but suffice to say, home values here—like many...

Wow Readers, that’s like asking the price of a car!  Do you have a Kia budget or a BMW budget?

 

As a top Realtor here, I market myself as the Dream Pro and I always say that Dream Homes come in every budget! And remember, we are historic highs in the exchange rate between the dollar and the peso!

 

I have personally sold homes from $118,000 USD up to $1.9MM USD, but suffice to say, home values here—like many cities in the world—vary greatly on location, or what we call here the “colonia.” It is extremely difficult to find a home in the heart of the city—called Centro—for under $500,000 USD (although this Centro home pictured is $595K) but for that same budget in a neighborhood called Atascadero you can buy a large 3 or 4 bedroom home and in another neighborhood like Los Frailes, you might find a home with a pool for that price.  Let your Realtor guide you—they will steer you in the right direction, depending on your budget!