There are many reasons that retirees and visitors choose to buy real estate in San Miguel de Allende Mexico. The price of land and homes is one of the top reasons that this town is a great retirement location to live in. Buying a home in San Miguel means only paying about twenty percent of what you would pay for comparable housing in the United States. This means that you can afford five times the house, or choose a more modest home and have plenty of savings left.

There are five different types of property in San Miguel, and these are classified as Federal, Restricted, Edijo, Unrestricted, and Historic. Federal land can not be owned by any individual, as it is government land, and this is land that spans from the high tide line to cover the entire beaches. No beach is privately owned. This means visitors and locals are free to take walks on any beach found. Property taxes in Mexico are much cheaper than they are in America, so the yearly cost of owning your home or property is a lot less.

The average cost per square meter of land in different areas in town :

Villa Los Frailes: $160  –   $200 USD
Atascadero: $250  –   $500 USD
Country Club: $250  –  $500 USD
Historic Center: $500 –   $1000 USD +

The average price for building is $1,200 USD  per square meter (top quality).
As follows we will give you an idea of home pricing in San Miguel :

Condos,  from $ 200,000    to     $ 300,000 USD
Small home  minimum $ 250,000    to     $ 350,000 USD
Medium size home:  $ 350,000    to     $ 700,000 USD.
“Special home within walking distance”  $ 800,000    to     $ 1,000,000 USD.
The “Dream Colonial home in town” from $1,000,000  to     $5,000,000 USD and more.

All Real Estate Transactions in San Miguel de Allende are in cash because loans are very expensive and Mexican Banks do not give them to foreigners.  Loans made from the United States are available, unfortunately the interest are still high, 9.75% plus closing costs.