Real Estate in Monterrey, Mexico

"We needed an area that was convenient to my husband's job. The plant he works at is outside the city in an area that is not very nice, so we had to strike a balance between amenities and convenience. We bought our property so we also wanted to find an area where we thought that prices may rise over the next few years. We ended up choosing a property in an undeveloped area on the outskirts of the city. It was particularly appealing as we knew the surrounding areas were earmarked for development. We also have the convenience of having the green areas of the countryside on our doorstep, with the convenience of the city just 5 minutes drive away," explained one expat living in Monterrey, Mexico.

"One of the best ways to find a place to live in Monterrey is to research online. Popular websites such as Airbnb, VRBO and Home Away offer a variety of rental listings from apartments, condos, houses, and villas. Additionally, online forums, such as Mexico's largest expat site Mexconnect, can provide valuable information about housing options in Monterrey. In addition to online research, it is also advisable to contact local real estate agents, who can provide potential renters with more personalized housing options and insight into Monterrey's real estate markets," said one person in Monterrey.

"Most expat homes in Monterrey are single-family houses or townhouses with ample living space and numerous bedrooms, bathrooms and kitchens. These homes typically have spacious balconies, gardens and/or terraces, with some properties boasting swimming pools and outdoor entertaining areas. Inside, the homes are normally modern and tastefully furnished, built to the highest standards and often featuring plenty of natural light. The kitchens and bathrooms are usually fully-equipped with white goods and modern fixtures and fittings. Many apartments in the city also offer similar levels of comfort, with contemporary spaces and gorgeous, sweeping views of the city skyline," said one person in Monterrey.

"We live in a 3 bedroom house on a new development. The style of the house is pretty typical - modern, reasonably spacious but with a small back yard - as is the street - a gated community with green areas and a communal pool. However, we don't live in a 'typical' ex-pat area. Most foreigners choose to live in San Pedro Garza Garcia, the most expensive neighbourhood in the whole country. There is a large American community here, not least because many ex-pats have their housing paid for by the company they transferred here with. San Pedro was not really an option for us as we wanted a house not an apartment (and a house in this area costs roughly the same as its equivalent in the UK or LA) and as we both speak Spanish, we didn't feel the need to settle in an ex-pat community," said one expat who made the move to Monterrey.

"Lower. However, some parts of Monterrey are seriously expensive. If we consider the 'nicer' (safe, clean, reasonably located) neighbourhoods, average prices range from MXN $7,000-MXN $16,000 per month rental on a 2 bedroom apartment and MXN $10,000-MXN $27,000 per month on a 3-bed house. Purchase prices for these same areas range from MXN $950,000-MXN $2,200,000 for a 2-bed apartment and MXN $2,000,000-MXN$5,000,000 for a 3-bed house. The above prices are averages for these areas. There are plenty properties available above and below these prices in decent areas of the city," explained one expat living in Monterrey, Mexico.

"The cost of housing in Monterrey can vary greatly depending on what type of property you're looking for and where in the city you're looking. On average, renting an apartment in the city center can cost around $430 to $650 per month while house prices can range anywhere from $80,000 to well over $400,000. Depending on the neighborhood and the type of property, the prices can vary dramatically," said one person in Monterrey.

"Buying a home in Monterrey can be a great investment depending on your lifestyle and circumstances. If you plan to stay in the area for a long period of time and you like the idea of building equity when making monthly mortgage payments instead of paying rent, buying a home may be the right choice for you. On the other hand, if you are a more transient person, renting a home may be a better option since it does not require a long-term commitment and may be easier to move from one place to another. Ultimately it is up to you to decide which is the better route for your situation," remarked one foreigner who made the move to Monterrey.

"Before buying property in Monterrey it is important to understand the legal system and regulations associated with real estate purchases. It is also important to understand the zoning laws in the city, as they may limit what type of property can be built. Make sure to research the neighborhoods in Monterrey and the neighboring towns, and understand the different crime rates and quality of life. Furthermore, be aware that depending on the type of property, different taxes may apply. Utilizing the services of a certified and experienced real estate attorney is essential for any property deals in Mexico. Additionally, it is important to acquire title insurance which will protect you from any unregistered claims on the property. Lastly, familiarize yourself with the closing process and procedures for transferring the property title, as it will be different than the process in the United States," explained one person living in Monterrey, Mexico.

"Yes, foreigners are allowed to own property in Monterrey. According to Mexican law, foreigners are allowed to purchase property in Mexico as long as they obtain a permit from the Ministry of Foreign Affairs. This permit is known as a Fideicomiso, and it allows the foreign buyer to own the property in their own name. The Fideicomiso also allows the foreign buyer to transfer the property to their heirs, and to sell the property when they are ready to do so," said one person in Monterrey.

"Rental properties in Monterrey typically come with a refrigerator, stove, washing machine and clothes dryer. Many properties also come with air conditioning units and sometimes a dishwasher. Other amenities such as a microwave, garbage disposal, and wireless internet access may be available, depending on the rental property," said one expat in Monterrey.

"Expats can search for homes in Monterrey by looking online for real estate listings, contacting local real estate agents, and asking other expats for recommendations. They can also search for rental listings on websites such as Airbnb and Craigslist, or look for furnished apartments through companies such as Spotahome. Additionally, expats can attend local expat events and meetups to network and find housing opportunities," explained one foreigner living in Monterrey, Mexico.