The triple threat of swine flu, the recession and violent crime has frozen Mexico's expatriate real estate market. Here are 6 bargains to be had south of the border.
Square feet: 3,500
Description: San Miguel de Allende, which was founded in 1542, lies in the central highlands north of Mexico City. Fabulous weather, natural beauty, cobblestoned streets and colonial buildings attract travelers year after year to this city of about 60,000.
Its status as one of the top expatriate destinations took off in 1946, when the first wave of American ex-servicemen arrived to study art here. Low prices were an irresistible lure: They rented houses for about $10 a month.
This gorgeous house is a little more expensive but still a bargain. It is of Mexican-colonial design, with a central courtyard and lovely garden, and is bathed in natural light, which is captured by numerous high-arched windows. There are columned hallways, beamed ceilings, a lounge with stone fireplace. Modern touches include cable and wireless Internet, solar hot water and photovoltaic panels.
More info: Coldwell Banker Bienes Raices