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Purchasing flats in Durango as a foreigner is made efficient and accessible through platforms like Global.Properties. The website features over 56 apartment listings in Durango, sourced from reliable real estate agents and directly from developers, ensuring a wide range of options. To begin the process, prospective buyers should browse advertisements for apartments in Durango on the website, where they can review each property’s characteristics, price, layout and detailed description. After selecting a potential real estate in Mexico, buyers can contact the seller directly via phone or private messages to inquire further or begin the purchase process. This direct engagement facilitates a clearer understanding of the property aspects and speeds up the negotiation phase.
- Minimum cost of apartments in Durango: USD 171
- Maximum apartment prices in Durango: USD 350,115
- Minimum area of an apartment in Durango, Mexico: 100 m²
- Maximum area: 140 m²
If you want to buy an apartment in Durango and obtain a residence permit, you first need to apply for a temporary residence visa. This visa can later be converted to permanent residency. Based on the most recent rules, here's a general guide:
- Temporary residency: To obtain this visa, you need to demonstrate either a steady monthly income of at least USD 2,530 for the past 6 months or savings or investments totalling at least USD 42,164 over the last 12 months. Alternatively, you may qualify for temporary residency if you own a home in Mexico worth approximately USD 553,000.
- To obtain permanent residency, you need to demonstrate a higher financial threshold than required for the temporary visa. You must show either a monthly income of at least USD 4,217 or savings or investments totalling at least USD 168,654 over the last 12 months.
Apartments in Durango
Durango's real estate options span from contemporary, high-rise condominiums in the bustling city centre to more traditional apartments in quieter, scenic neighbourhoods. Many of these properties come equipped with modern amenities such as robust security systems, community swimming pools and fitness centres, making them attractive for both residents and the expatriate community.
Living in Durango provides easy access to a range of amenities and services, including:
- Healthcare and Education: The Hospital General 450 Durango is known for its comprehensive medical services ranging from emergency care to specialized treatments. The city is home to institutions like the Universidad Juárez del Estado de Durango (UJED), which offers a wide range of undergraduate and postgraduate courses;
- Recreation and Leisure: The Parque Guadiana is a large urban park ideal for family outings and sports activities. The Museo de Arte Sacro offers insights into religious art and artefacts, making it a fascinating visit for those interested in the local cultural history. Museo Francisco Villa museum is dedicated to one of Mexico’s most renowned revolutionary leaders, Pancho Villa. Calle Constitucion is a historic walking area in the city that is popular for its vibrant atmosphere and beautiful settings;
- Historical and Cultural Sites: Catedral Basílica de Durango, also known as the Cathedral of the Immaculate Conception, is located in the heart of Durango's historic centre. It is an architectural gem that dates back to the 18th century, showcasing exquisite Baroque architecture. El Palacio del Conde del Valle de Súchil is a beautiful colonial mansion that gives insights into the lifestyle of the Mexican nobility during the colonial era. Zona Arqueológica de La Ferrería is an archaeological site just outside the city, home to ancient ruins that provide a glimpse into the region's pre-Hispanic past;
- Shopping and Dining: Durango hosts several shopping venues like Paseo Durango, the largest mall in the city, which houses numerous national and international retail stores. For dining, locals and visitors can explore restaurants like Restaurante La Fonda de Villa, which offers traditional Mexican cuisine.
The combination of modern living facilities, rich cultural heritage and a thriving community life makes Durango an appealing choice for those looking to invest in real estate or relocate to a dynamic and culturally rich environment.
Reasons for investing in an apartment in Durango
Apartments in Durango for investment present a compelling opportunity for investors, underscored by a combination of economic, demographic and market dynamics. Here are several reasons underpinning the attractiveness of this investment:
- Population Growth: Durango's population has been consistently growing, with an estimated population of 676,472 in 2024, marking a 1.64% annual increase. This steady population growth fuels the demand for housing, making these apartments in Mexico a valuable asset;
- Economic Expansion: The region has witnessed robust economic activity, with international sales reaching USD 2.25 billion in 2023. The diversification in sectors such as electrical wires and cables, automotive parts and precious metals contributes to a stable economic environment conducive to real estate investment;
- Rental Yield Potential: The average gross rental yield in Mexico stands at 5.71% as of the first quarter of 2024, indicating a healthy return on investment for apartment owners. Durango, with its growing demand for rental properties, is poised to offer competitive yields;
- Housing Market Resilience: Nationwide, Mexico's housing market has shown resilience, with a significant 10.41% increase in the house price index during 2022. This trend underscores the potential for capital appreciation in flats for sale in Durango;
- Rental Market Dynamics: Durango offers a range of rental options, from annual agreements to flexible monthly or seasonal rentals, with prices reflecting the city's affordability and appeal to both long-term residents and temporary visitors;
- Strategic Location: Durango's strategic location, with its rich cultural heritage and modern amenities, enhances its appeal to investors seeking a blend of lifestyle and investment potential;
- Government Support: The Mexican government's regulations to protect foreign investors, including ownership through a fideicomiso (bank trust) or a Mexican corporation, provide a secure legal framework for real estate investment.
These factors, combined with Durango's unique blend of historical charm and economic vitality, make it an attractive destination for investors seeking to buy a flat in Durango and capitalise on the burgeoning real estate market in Mexico.
Buying apartments in Durango
Navigating the vibrant real estate market of Durango, Mexico, particularly for those eyeing the lucrative apartment sector, has been significantly simplified thanks to innovative platforms like Global.Properties. This property aggregator is notable for its user-friendly interface and comprehensive database, which together streamline the search for the ideal investment opportunity in Durango. With just a few clicks, potential investors can access a wide array of listings, from a modern city-centre apartment for sale in Durango to charming units reflecting the town's rich colonial heritage. The platform's detailed filters enable users to refine their search based on specific preferences such as location, size and amenities, making it remarkably easy to pinpoint properties that match their investment criteria, even villas in Mexico. Moreover, Global.Properties provides valuable insights into the local real estate market, including trends and potential returns, empowering investors with the knowledge needed to make informed decisions. This ease of access to a wealth of properties, combined with Durango's growing economy, expanding population and the city's blend of cultural and modern attractions, underscores the area’s investment appeal. For anyone looking to invest in Mexico's real estate, using this aggregator can significantly enhance the efficiency and outcome of their search.