San Miguel De Allende — perched between mountain ranges in central Mexico — is a colonial-era city known for its Spanish colonial architecture and Mexican heritage sites dating back to the 16th Century. The baroque architecture and thriving arts and cultural scenes are among several reasons behind the popularity of this city with North American retirees and expats.
One of those several reasons is the astonishingly successful real estate market of San Miguel de Allende. The city is filled with historical and naturally significant sites and nearly 64 blocks of the town are protected under the privilege and preservation rights of United Nations Educational, Scientific, and Cultural Organization (UNESCO) World Heritage Sites.
From the La Parroquia de San Miguel Arcángel representing 17th-century neo-gothic architecture to the Fabrica la Aurora — a 43-gallery collective showcasing artwork from locals, national, and international artists — the city is filled with adventurous and nostalgic destinations. Hence, the reason why San Miguel de Allende is home to a flourishing tourist industry.
With tourists pouring in from around the world and expats setting up vacation homes and acquiring luxurious estates for Golden Year’s homes, it is the perfect time for investors and rental property owners to investigate the market. Local Berkshire Hathaway HomeServices Broker Greg Gunter highlights the important developments in the San Miguel de Allende real estate market through his online forum and international conferences. In fact, he was the only real estate Broker invited to eBay’s recent InCON real estate symposium in Mexico City.
As an architect with an MBA in real estate, Broker Gunter reached the status of the #2 Realtor nationwide in Mexico in sales volume, leading the Berkshire Hathaway HomeServices network to contact him about opening the first and flagship office for the brand in Mexico. The franchise is a division under the ubiquitous Warren Buffett-led Berkshire Hathaway brand, the 4th most respected brand globally as ranked by Fortune Magazine. Gunter has frequently spoken and written about the investment potential of real estate in San Miguel de Allende, both from an appreciation-driven Internal Rate of Return (IRR) as well as the substantial annual Return on Investment (ROI) of rental-income properties, thanks to the city’s high tourism volume.
“Many of my buyers simply want a 2nd home,” notes Gunter, “but find that the annual appreciation on a home here exceeds that of most other 2nd-home destinations.” That makes it an easy decision when deciding where to invest. And for those primarily seeking a substantial rental-income stream, Gunter notes some properties in San Miguel de Allende can offer a double-digit ROI.
Investment returns notwithstanding, Gunter adds that foreign expats value the lifestyle experience of spending substantial time in a 480-year-old culturally-rich environment with spring-like year-round climate — and that experience isn’t measured by an IRR.
“A city like San Miguel de Allende is on most everyone’s Bucket List,” adds Gunter, “it’s just a matter of how much time they want to spend here.” As a 14-year full-time-resident expat, Gunter has made the city his permanent home and finds thousands of American expats doing the same.
He notes the demographic in San Miguel has skewed younger over the last eight years with mid-career individuals with growing families purchasing a primary residence in upscale neighborhoods across San Miguel. “I recently sold a full-time residence to a 37-year-old Dutch couple raising their children here,” says Gunter. That trend is expected to continue, especially with remote work increasingly a lifestyle choice.
Broker Gunter remains an influential personality in the real estate market in San Miguel de Allende. He has earned the title of “The Dream Pro” widely known as “San Miguel’s Dream Home expert!” and in his 12 years as a Realtor has eased hundreds of clients into home ownership here.
Gunter has maintained a solid reputation among clients and corporate investors through integrity and a vast network of associates across the Berkshire Hathaway HomeServices network. He provides real estate news and updates with lucrative house listings for sale on www.DreamProHomesLuxury.com