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| Destinations >> San Miguel de Allende >> Vacation Housing Market in San Miguel de Allende about San Miguel de Allende |
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By: Luis Martin Medina Roque at Ventana Magazine
San Miguel de Allende lies to the south of Mexico’s central high plain, and is close to the agricultural area known as the Bajio. It is easily accessible by air or on land, as there are direct international flights to the Guanajuato International Airport from Dallas, Houston, and Atlanta. The Guanajuato International Airport is the main airport in the state of Guanajuato, and it serves as the regional airport for other cities in the Bajio.
On July 7, 2008, San Miguel de Allende was registered by UNESCO in the Cultural Heritage of Humanity; this distinction was awarded due to both its cultural and architectural contributions to the Mexican Baroque and its importance in Mexico’s fight for independence from Spain.
.  The colonial city is famous for its mild weather, thermal springs, and architecture. In the last five years, San Miguel de Allende has drawn a large community of foreign residents, who make up a large part of the population. The best way to enjoy the town is by walking through its cobbled streets full of colonial mansions and beautiful temples. Some of the attractions you can find on your walk include: Ignacio Allende’s House and Museum, San Miguel Arcangel Parish Church, the Ignacio Ramirez “El Nigromante” Cultural Center, Angela Peralta’s Theater, the handcrafts market, the main garden, the town hall, and the InstitutoAllende, which in 1951 became an art institute offering courses from silverwork to pottery and Spanish. Other attractions in the area include the Atotonilco Sanctuary and the thermal spring spas, located along the road to Atotonilco. The most prominent festivals take place in September, beginning with “El Grito,” the call to independence inspired in Father Hidalgo. The celebrations continue until the festival honoring San Miguel, the city’s patron saint, lasting one whole week.
San Miguel de Allende has a population of 140,000, of which over 10,000 are foreign in origin. The average number of visitors per year is of 180,000, over 40,000 coming from the USA and Canada. Residential Housing The housing market in San Miguel has grown considerably in the last ten years. In the last five, from 2003 to 2008, annual housing unit sales grew from 50 to 230 units respectively. Today, the city has a total of 19 tourist residential developments whose average prices range from $129,000 to $673,000. Living areas range from 97 m2 to 396 m2, and prices range between $900 and $2,700 per m2.
The city has 1,000 condominiums and villa-type units under development, with a current inventory of 60%; whereas condos represent only 20% of the offer, villas account for the remaining 80%. Most monthly sales are found in units of 100 m2 to 200 m2, 70% of which are found in villa developments; this proportion has remained steady over the past 3 years. Furthermore, even though property prices can be found at over $ 2,700 per m2, most sales occur at price points between $1,000 and $2,000 per m2.  |
