Journal 3 briefings
The Journal
Long-form analysis, published when we have something worth saying rather than on a content calendar.
We publish when the data says something that is not already being said. That means fewer pieces than a brokerage blog, and it means the ones we do publish tend to contain the figure nobody else wanted to print.
The journal is for dated analysis: what changed, and what it means. The standing reference pages live elsewhere and are kept current: market statistics, neighbourhoods, the law and tax of buying, and a guide for each kind of buyer.
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01 Analysis
San Miguel de Allende vs. Merida: A Real Estate Investment Comparison for 2026
San Miguel de Allende vs Mérida on appreciation, entry price, the US advisory, supply and climate. Mérida leads the one shared index; what that misses.
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02 Analysis
Is San Miguel de Allende Safe for Expats? What the Data Actually Shows
No recorded pattern of violence aimed at expats, but San Miguel de Allende is not sealed off from Guanajuato's Level 3 advisory. What buyers should weigh.
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03 Market Intelligence
San Miguel de Allende Real Estate in 2026: What the Data Actually Says
San Miguel de Allende sales rose 24.7% in 2025 as the average price fell 12.6%; then months of supply went from 17.6 to 29.6. What 2026 means for buyers.
Common Questions
Is San Miguel de Allende safe?
San Miguel's day-to-day security differs from that of the Guanajuato cities behind the state's Level 3 US advisory, but it is not insulated from the state it sits in: in February 2026 cartel reprisal violence reached roughly half of Guanajuato's municipalities, San Miguel among them. Any analysis claiming otherwise is overselling. The journal entry on this question sets out what the published data does and does not support.
How much can a San Miguel de Allende short-term rental earn?
The median short-term rental in San Miguel grosses about US$1,066 a month before costs. Marketed figures usually describe the top of the distribution rather than the middle, and the full spread — top decile down to bottom quartile — matters more than the median on its own. The permit and tax stack comes off that gross.
Free quarterly report · Q3 2026 edition
The report no agent will send you.
The SMA Wealth Intelligence Report, 80 pages, free. What homes actually closed for and how long they took, supply at 1.6 to 2 times what this market calls normal, six neighbourhoods, the full cost of buying, holding and selling, the law, and a briefing for your situation. It opens with a digest you can read in ten minutes. No commission agenda, because we do not earn one.