Why San Miguel De Allende’s Views Command Premium Real Estate Prices
The views of Mexico’s San Miguel de Allende command premium prices that luxury homebuyers happily pay. The beyond picturesque views of San Miguel de Allende truly matter to luxury buyers, according to Joseph W. Lown, a top producing agent at the leading luxury brokerage firm CDR San Miguel. “Because of topography, views are the number one criteria for people who want to be in San Miguel de Allende.”
Located in the far eastern part of Guanajuato, about 170 miles from Mexico City, San Miguel de Allende is a favorite retirement spot for Americans. These ex-pats move for a mild climate, five-star dining, accessible art and culture, Baroque/Neoclassical colonial architecture, and a reasonable cost of living. History and culture run deep in San Miguel de Allende; UNESCO recognizes a portion of the old colonial city as a prestigious World Heritage Site.
San Miguel de Allende is known for one landmark view. “All the views revolve around seeing the Parroquia,” Lown notes. The towering Parroquia de San Miquel Arcangel is the pink neo-Gothic 17th-century church with soaring spires. You’ll see it in all the travel features and videos that explore the city. Its castle-like architecture is synonymous with San Miguel de Allende. “There are some peek-a-boo views of the Parroquia that do make some people happy. Though having panorama views is something luxury homebuyers want,” Lown adds.
To the east of the central plaza, you start going up a hill where the views begin. “There are only a few geographic areas that give a variety of great views,” Lown said. One property called Casa del Sol, a Spanish Colonia Hacienda-style home currently listed at $2,495,000, has commanding Parroquia views and then even more views. “It’s got an extraordinary living room, bedroom, garden, terrace, swimming pool, terrace, and rooftop views. There is even a great view from the living room sofa,” Lown said.
The home boasts six bedrooms four with en-suite baths. There is also a separate two-bedroom casita with a private entrance. Casa de Sol is in the gated (with a 24-hour attendant) enclave Privada del Sol and is located in the prime Centro area up a hill about a ten-minute stroll from the Parroquia.
Lown, a former Texan and long-time San Miguel de Allende resident, cautions buyers on the importance of forever views. “Not all views are forever views. When considering a property because you love the views, you need to research what is below and next to you,” Lown advises. “Your view, which you thought would always be there, can easily disappear with new construction below you or even next to you.” Lown points to all the views at Casa del Sol as forever views. “To many buyers, San Miguel is their happy place. They love to have homes where they have these wonderful views. Casa del Sol will have them forever as nothing will be built below or next to it to obstruct the views.”
Other properties with those in-demand Parroquia views include the five-bedroom Casa Barranca. It’s on the market for $2,600,000. It also is “highly suitable for conversion to a boutique, approximately 10-room hotel.” No doubt guests would enjoy cocktails and the 360-degree view from the multi-level terraces.
Homes with wonderful views naturally command higher prices. “We price these properties with a 30 % premium when the views and the home are over the top,” Lown confides.
Considering the current U.S. market where homes in Southern California saw year-over-year six-digit price increases, the views of San Miguel are worth a premium price.
CDR San Miguel is an exclusive member of Forbes Global Properties, a consumer marketplace and membership network of elite brokerages selling the world’s most luxurious homes.