A New Chapter in Your Life is Here

Living the dream

Your next adventure is waiting in the cobblestone streets of Centro, the hillside views of the surrounding communities, or... well, we might have something extra special in mind.

San Miguel de Allende stands as Mexico's premier destination for expat real estate investment in 2025, offering a unique combination of colonial charm, cultural richness, and strong market fundamentals. The market shows extraordinary momentum with sales volume up compared to 2024. Property values are projected to continue to appreciate making this UNESCO World Heritage city an attractive option for both lifestyle seekers and investors.

The only question is: Are you ready to say yes to a life you never imagined possible?

Key Neighborhoods

Centro Historico

Character & Appeal
Centro is where cobblestone streets wind through 18th-century architecture, with the iconic Parroquia church, boutique hotels, rooftop lounges, and artisan shops all within walking distance. This is the beating heart of San Miguel's cultural and social life.

Real Estate Profile
• Premium pricing: properties range from $850,000 to $4 million USD
• Centro Histórico commands approximately higher price per square meter or higher due to its UNESCO designation and prime location. Three-bedroom single-family houses in Centro Histórico cost 30-60% more per square meter than outlying areas

Best For: Buyers who want to be in the center of culture, dining, and social life. Limited parking and weekend foot traffic are trade-offs for living in the soul of the city.

San Antonio

Character & Appeal
A lively, mixed neighborhood where traditional Mexican life meets expatriate influence, with a welcoming, community-focused vibe attracting artists, young professionals, and families. It has a bohemian flair with charming streets, local shops, and small cafes.

Real Estate Profile
• Popular with younger expats, artists, and digital nomads, feeling more "neighborly" than touristy
• Properties offer larger lots and creative renovation opportunities
• Walking distance to Centro with lower costs than the historic district.

Best For: Those wanting authentic Mexican atmosphere with international community presence, at more accessible price points.

Guadiana

Character & Appeal
Known for its tree-lined streets, well-manicured parks, and beautiful homes offering understated elegance. It provides a peaceful retreat while being just a short walk from the vibrant Centro.

Real Estate Profile
• One of the most popular neighborhoods for expats, known for its historic charm and close walking distance to the main square
• More affordable than Centro but still considered a premium location.

Best For: Expats seeking tranquility and comfort without sacrificing proximity to downtown amenities.

Atascadero

Character & Appeal
A peaceful and upscale neighborhood nestled in the hills, known for its panoramic views of the town and surrounding countryside. This peaceful neighborhood features panoramic views and many expats have purchased homes in gated communities here with amenities like swimming pools and gyms.

Real Estate Profile
• Homes are spacious with modern features such as on-demand hot water, gas fireplaces, upgraded windows, and large gardens. • Balcones/Ojo de Agua hillside locations command higher prices for panoramic views
• Vehicle essential for daily errands

Best For: Those who prefer space, serenity, and the sound of birds over church bells.

Real Estate Market Trends - 2025

Market Dynamics

Sales of resale homes are extraordinarily strong, with year-to-date volume up 46% and dollar average up 38% compared to 2024. Average sale prices hover in the high six-figures, with homes selling in the $500,000 to $800,000 range on average.

Supply & Demand

What was recently a buyer's market is tightening into a more balanced environment, with housing inventory that once stood at nearly 19 months in early 2022 steadily diminishing as sales picked up. Additionally, since almost all homes are bought for cash the market is not as sensitive to global monetary market trends

Market Drivers

San Miguel's strict preservation rules limiting new construction in the historic core contribute to a supply-constrained market
The strong U.S. dollar in 2025 has significantly boosted foreign real estate investment.
San Miguel de Allende was named the No. 1 city in the world in Travel + Leisure's 2025 World's Best Awards

Future Outlook

Several factors support continued appreciation including the city's UNESCO World Heritage status limiting new construction in Centro, the growing expat population now exceeding 15,000, and infrastructure improvements attracting new buyers annually

Costs of ownership

Move In Ready

Purchase Price by Property Type
Entry-Level: At $150,000, expect fixer-uppers requiring significant renovation, small one-bedroom casitas in local neighborhoods, or basic apartments on the city's outskirts
Mid-Range: Two-bedroom condos typically cost between $300,000 and $400,000, with downtown units at the upper end due to proximity to the historic center
Luxury: High end homes with four or more bedrooms start at $1,000,000 and frequently exceed this threshold, with the most exclusive properties reaching several million dollars

Renovation Considerations

Historic Center Properties:
• Properties at $150,000 typically need kitchen and bathroom updates, new electrical systems, and cosmetic improvements, working for handy buyers willing to invest sweat equity
• Strict preservation requirements due to UNESCO status may limit renovation options
• Higher costs for specialized craftsmen familiar with colonial architecture
Material Costs:
• Landscaping is extra but not very expensive
• Importing materials from the U.S. can be expensive.

New Build or Renovated

In San Miguel, a good architect would charge between $700 to $1,000 per square meter ($65 to $95 per square foot):
• $65-$75 per square foot: Standard home comparable to typical U.S. construction
• $95 per square foot: Top-of-the-line appliances and exquisite finishing
At $100 per square foot, you can build a nice house with masonry construction, nice tiles, cantera stone, fireplaces, stainless steel appliances, and tall ceilings, including gas log hookups but no central heating/AC ductwork.

Closing & Other Costs

• Notary and city fees run about 1.1% of purchase price, covering title search, registration, and legal formalities
• Acquisition tax in San Miguel de Allende is 4%.
• SRE permit (government-issued permit allowing foreigners to buy property) costs approximately $4,600 MXN per person appearing as buyer in the Title Deed
• Escrow service charge varies from $400 to $600 USD
• Power of attorney fees if unable to attend closing in person

Annual property taxes in San Migue; for an average home typically range from $300 to $700 per year.

Special Considerations

Cost of Living

A comfortable lifestyle costs between $1,500-$3,500 monthly depending on housing choices, with most expat couples spending $2,000-$2,500 for good quality of life.

Legal Process

Foreign buyers need proof that they are legally in Mexico (tourist visa/FMM or resident card), proof of residence address, copy of title deed of property being acquired, and a "permiso" application to the Mexican Secretary of Exterior Relations costing approximately $400 USD per foreign buyer

Ownership Structure

San Miguel de Allende is located inland, outside the Restricted Zone (within 50 km of coast or 100 km of international borders), meaning expatriate can own property directly with fee simple title. No fideicomiso (bank trust) is required.

Transaction Timeline

Typical closing period is about 30 days because most people don't buy with loans, making the process quicker than coastal areas

Investment Advantages

Stable Appreciation

The real estate market is known for its remarkable resilience and stability, with historically consistent appreciation of 3-7% annually making it a safer bet compared to more unpredictable markets

Strong Expat Community

San Miguel has a population of 139,000 with over 10,000 expat residents, providing established infrastructure and community support

Low Property Taxes

Mexico generally imposes lower property tax rates across the board, meaning property owners enjoy significant savings in annual tax payments

Strong Brand

San Miguel's cultural cachet as a UNESCO World Heritage city repeatedly voted among the world's top travel destinations provides durable "brand appeal" that bolsters real estate values