Albuquerque Property Market and Real Estate Guide

(Albuquerque, New Mexico - NM, USA)

View over AlbuquerqueSurrounded by desert and the wildlife-rich Rio Grande Valley State Park, Albuquerque is New Mexico's largest city, although it doesn't pull in as many tourists as Santa Fe. It began its life as a Spanish settlement, and its Hispanic roots can still be seen today in the city's Spanish colonial architecture.

Albuquerque offers an ideal balance for those looking for mild weather, modern amenities and easy access to the great outdoors. With the Sandia Mountains right on the doorstep, nature lovers have plenty to keep themselves entertained. The city also sees a number of students and Air Force personnel, with the University of New Mexico and Kirtland Air Force Base situated here.

The Old Town in the northwest is one of Albuquerque's biggest draws, with its 18th century buildings, museums and central plaza but it is the downtown district where visitors will find the city's business core. Up-and-coming Nob Hill in the southeast is a favourite residence with young professionals and students, while property in the northeast, in the likes of Sandia Heights, is notably pricey. Of note, Midtown's ranch-type homes tend to attract families.

Supply outpaces demand in Albuquerque, meaning there are some great deals on the property market. The local property market has shown positive signs of recovery in recent years, making it a buyer's market.

Renting Serviced Apartments

Serviced apartments aimed at corporate visitors can be found in downtown Albuquerque. A handful of further apartments serving all types of extended stay visitors are available in resort and gated communities throughout the city. Swimming pools and mountain views are common.

Renting a serviced apartment is cheaper than paying for an equivalent hotel room if staying long term. However, stays of more than one month are usually necessary to benefit from any discounts. The main appeal of serviced apartments over regular apartments, which are cheaper, is that no long-term lease needs to be signed.

Buying Apartments and Houses

When purchasing a house or an apartment in Albuquerque, expats are strongly advised to go through a local realtor. It is also advised to enlist the help of a property attorney. While non-residents don't face any restrictions regards the purchasing of property in Albuquerque, they can expect to pay up to a quarter of the property value in deposit.

Real Estate Agents

There are a number of professional estate agents practicing in Albuquerque, many of whom have experience working with foreigners. Choose an agent that you find easy to communicate with over one with a large portfolio.

Check out the following Albuquerque realtors and real estate agents:

Tyson Properties
Address: 922 Third Street NW, Albuquerque, New Mexico NM, 87102, USA
Tel: +1 505 323 2104
Listing homes for rent and sale, Tyson Properties recently won the award for Vi Gautsch Excellence in Property Management.

Keller Williams Realty
Address: 9201 Montgomery Boulevard NE - Suite 101, Albuquerque, New Mexico NM, 87111, USA
Tel: +1 505 730 5012
This professional realtor has a useful website with property, neighborhood and mortgage information.

Maddox Realtors
Address: 312 Central Avenue SE, Albuquerque, New Mexico NM, 87102, USA
Tel: +1 505 764 0400
Maddox features property listings in Downtown, Silver Hills, Spruce Park and North Valley, amongst other areas of Albuquerque.