Home Headlines More than 50% of property sales in San Miguel bought by Americans

More than 50% of property sales in San Miguel bought by Americans

by sanmigueltimes
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San Miguel de Allende has garnered national and international attention for its provincial “flavor” that offers at the same time, all the services of a city.

Gabriel Rubiera, president of the Mexican Association of Real Estate Professionals (AMPI) of San Miguel de Allende, says in Metros Cúbicos (Cubic Meters) that, by 2015, 51% of the properties for sale in this Guanajuato city were bought by Americans, while 35% were purchased by Mexicans, and 8% by Canadians. The rest of the market was distributed among buyers from other countries.

Apartment building in San Miguel de Allende. (PHOTO: kwsanmiguel.com)

Apartment building in San Miguel de Allende. (PHOTO: kwsanmiguel.com)

For Mexicans seeking properties in this place, Rubiera says that there are different options such as private housing developments on the outskirts of the city, located about a ten-minute drive from the historic center, with apartments of 90 m2, and prices averaging $1,600,000 pesos ($86,880 USD). If developments are closer to the historical center, prices increase to between $2,000,000 and $6,000,000 pesos ($108,300 to $325,000 USD).

Another alternative is to buy land and then build on it. In the downtown and residential areas, the square meter price can reach a thousand dollars, while in the periphery prices may vary between $100 and $120 USD per square meter.

Meanwhile, Rubiera adds that on the outskirts of the city thematic developments, focused on the cultivation of grapes, lavender or olives, have begun to appear, with the idea that people can purchase a lot with land and an area for housing, to later on combine the production of all tenants to make wine, olive oil or lavender products and market them.

Source: metroscubicos.com


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