Home Headlines Growing Real Estate Boom In San Miguel De Allende

Growing Real Estate Boom In San Miguel De Allende

by sanmigueltimes
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Rodrigo Cervantes has served as opinion writer, contributor and commentator for several media outlets and organizations in Mexico and the United States, including CNN, Georgia Public Broadcasting and Univisión. He recently came up with an article on fronterasdesk.org, highlighting the growing Real Estate boom (and concerns) in SMA.

A favorite destination in Mexico for American retirees and tourists is San Miguel de Allende. The increasing influx of travelers to this small, colonial town in the center of Mexico is bringing with it a growing demand for real estate, and also concerns for the fate of the city’s natural and historical legacy.

Downtown San Miguel has a bohemian, but quite cosmopolitan vibe in its restaurants, cafés and bars. For decades, this historic place has attracted travelers and immigrants that have helped create this atmosphere.

(Photo: dreamprohomesforsalesanmigueldeallende.com)

(Photo: dreamprohomesforsalesanmigueldeallende.com)

The town currently has 170,000 inhabitants, and nearly 8 percent of them are foreigners — the vast majority, American retirees. But more recently, San Miguel de Allende has become a hotspot for younger expats with home offices, premium Mexican tourists and investors with strong buying power.

“There are a lot of people in their mid 20s and 30s bringing their family and raising their children here,” said Teri Kavanagh, a Los Angeles native currently working as liaison with the foreign community for the city’s government.

Kavanagh thinks that American immigrants come for a more peaceful and less expensive lifestyle.

“I definitely think is less stressful, more family oriented. And you get more for your money, and you get more quality of life for your money,” she said.

But Kavanagh also notices the rising prices of property. Whenever a city becomes popular, real estate goes up, she said.

Click here for full article by Rodrigo Cervantes on FronterasDesk.org

Source: FronterasDesk.org

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