San Miguel De Allende, Mexico Proves Haven for Retiree Homebuyers and Investors
San Miguel de Allende, a picturesque town nestled between captivating mountains in central Mexico, ranks among the top for expat retirement destinations in Mexico. Crowned as the World’s Best Small City by Condé Nast Traveler, a lifestyle travel magazine in New York City, San Miguel de Allende has worn the prestigious emblem for five years. Not another retirement destination exists globally with that kind of pedigree.
“We’re the 3rd largest expat population in Mexico,” notes resident American expat and real estate Broker Greg Gunter, who owns a Berkshire Hathaway HomeServices real estate office in San Miguel de Allende and caters to expat clients. “Tijuana is the largest because Americans live there and work in San Diego, and the Lake Chapala area houses more part-time expats, but we’re an actual community here with more fulltime homeowners, like me.”
San Miguel de Allende proves the most eye-catching and captivating destination for retirees looking for a culturally rich retirement in Mexico. Part of the 480-year-old city’s popularity stems from the uniquely preserved colonial-era architecture and historical sites preserved by UNESCO. In 2008, San Miguel de Allende was added to the list of World Heritage Sites by The United Nations Educational, Scientific and Cultural Organization (UNESCO).
“I live, work and play in a UNESCO World Heritage site,” adds Gunter. “There’s not another retirement destination in the world that can boast the same claim. My clients are a highly educated and high net worth demographic who find that appeal captivating.”
The tour books talk at length about the historical and natural significance of San Miguel, starting with the 17th-century gothic Parroquia de San Miguel Arcángel church, to the bustling garden Jardín Allende—the town square—located at the heart of the city. However, broker Gunter believes that there is something equally worthy of visitors’ and more importantly, home buyers’ and investors’ attention.
Gunter—an architect with an MBA in real estate and veteran broker once ranked as the #2 Realtor for all of Mexico—confirms that foreigners have found retirement homes in San Migue de Allende increasingly attractive over the last 15 years as 10,000 Boomers daily reach the age of 65 and seek a more affordable retirement in San Miguel de Allende. He highlighted the rise in second home ownership among foreign expats settling in San Miguel, coming from America, Canada, Europe, Australia, and even some Nordic nations.
Gunter has closed hundreds of homes locally with families seeking to find the perfect retirement dream home and transition to their retirement lifestyle in San Miguel de Allende, just as he did personally in 2009. “That’s why so many Americans like working with me,” Gunter notes, “they know I’ve been through the same expatriation process and can walk them through every step of the way.” Gunter’s evolution in the prime real estate market of San Miguel de Allende went from national sales leader to Broker and owner of Mexico’s first and flagship office for the Warren Buffet-led real estate brand Berkshire Hathaway HomeServices.
“It’s not just tourists and vacationers renting luxury estates,” Gunter shares. “Annually we have countless retirees—and now even families with children—pouring into San Miguel de Allende for a chance at permanent residence.” He notes Mexico’s equivalent of a Golden Visa—the chance to gain permanent residency status—is even easier than other expat destinations like Portugal or Spain.
“Buyers are pleased to learn they actual own a deed in their name in San Miguel,” Gunter notes, “unlike coastal Mexico where their property is held in a trust. And the threshold for gaining that residency visa is the equivalent of a condo purchase—it doesn’t require an expensive investment.”
San Miguel's international coverage in global media outlets—it just earned a Top Ten destination by American Express—includes nine rankings as the #1 City in the World, continues to pull in buyers and renters. For investors looking for a good ROI on rental income properties, Gunter notes the city-wide occupancy rates run as high as 77% in San Miguel, providing excellent rental returns.
“Perhaps best testament to San Miguel’s popularity is the upcoming Waldorf Astoria hotel,” notes Gunter. “There are very few villages globally of only 150,000 residents that garner a hotel of that reputation.”
Broker Greg Gunter claims to be a forever expat, with no intention of leaving his adopted hometown. He goes out of his way to share his wealth of knowledge gained over 15 years of residency as an expat and invites readers to learn more about San Miguel de Allende real estate and lifestyle at his web site DreamProHomesLuxury.com.
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