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Nicaragua: No Longer Land of Sandinistas and Somozas but a Real Estate Opportunity.

Thursday, July 5th, 2007    Posted by Overseas Property Mall in Nicaragua Property

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Now that Nicaragua has achieved almost 20 years as a functioning democracy and with a vibrant tourist industry it is beginning to attract the attention of property investors. The leading tourist attractions – Granada, Leon, San Juan del Sur, the Corn Islands – give pointers to property opportunities within the country.Leon and Granada used to be the important centres in colonial times but are now dwarfed by the compromise capital, Managua, with its population of 1.6m. Available real estate tends to be relatively cheap but in need of complete renovation. Much is written about the charm of Granada but less about the attractions of living there for a longer period of time. It is estimated that the city has a 1,000 strong community of American expatriates.

The Pacific coast, relatively close to the main centre of population, has considerable development in places. The centre of the region’s tourism industry is San Juan del Sur (pop. 18,500) and there are plenty of holiday properties for sale in its vicinity as well as an even larger number of plots available for development. Also on the Pacific Coast is the site of the country’s most prestigious tourist development to-date, Seaside Mariana Spa, complete with Jack Niklaus golf course which will “put the country firmly on the high-end resort destination map.” Close to San Juan del Sur is Balcones de Majagual, an eco-friendly development close by Morgan’s Rock hotel.

With the exception of the Caribbean coast (see below) most of Nicaragua’s attractions are very accessible from Managua. Coldwell Banker claim excellent rental yields for the capital (10-12 % for apartments).

The Corn Islands (Islas del Maiz – pop. 8,000), Big Corn and Little Corn are 70 km off Nicaragua’s Caribbean coast and are becoming popular destinations owing to the opportunities to dive among coral reefs. Big Corn can be reached by air from Managua. Opportunities on the Corn Islands seem mainly restricted to land available for purchase and development. Big Corn has something of a reputation for drug trafficking and related crime. Possibly, the real investment secret of the Caribbean coast may be the mainland once the government puts money into the region’s infrastructure. There are substantial tax incentives for anyone investing in tourism in this area.

For the overseas investor Nicaragua offers a relatively straightforward property purchase procedure (allowing that bribery is often necessary in official transactions) but for the time being the real estate market seems to be somewhat speculative. A lot could depend upon the speed with which the country’s infrastructure and utilities improve. San Juan del Sur in particular should share in the development opportunities of the north west Pacific coast of neighbouring Costa Rica; the frontier is only about 30 km from the town. In stable, prosperous Costa Rica residential property prices in tourist areas are a lot higher than in Nicaragua.

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8 Responses to “Nicaragua: No Longer Land of Sandinistas and Somozas but a Real Estate Opportunity.”

  1. JadeEJF Says:
    July 6th, 2007 at 12:36 am

    One of my friends just invested in Nicaragua recently, actually, in raw land, believe it or not. This article from NuWire Investor was what got them started on it, I think:
    http://www.nuwireinvestor.com/article.aspx?id=16 . It’s definitely an interesting market- I’m glad you’re highlighting it!

  2. Costa Rica Listings Says:
    August 11th, 2007 at 9:29 am

    Costa Rica MLS.
    To find a property in Paradise visit http://www.firstrealtycr.com a name you can trust in Costa Rica Real Estate

  3. seamus fitzgerald Says:
    September 27th, 2007 at 2:33 am

    I have been down in Nicaragua for three years now.I believe I am the only developer on the pacific coast from Ireland (Kerry).The Irish have been buying up half the world from what I read.I could count on one hand the few Irish that have passed through “San Juan Del Sur”.The place is booming and has been for the last three years.It would be nice to see a few more Irish down there.If any one is even slightly interested feel free to contact me at seamus_fitz@yahoo.com
    I have one of the largest projects down in SJDS under construction now and own some raw land with ocean views etc,neer Costa Rica.It would be great to bring in an Irish investor(s).I hope to hear from someone,Thanks for the forem.
    seamus.

  4. Mirano Says:
    November 7th, 2007 at 6:49 am

    I’ve heard that South America in general has a booming real estate market. Nicaragua, Belize, and Costa Rica seem to be the hot spots for investment properties. I found several websites that showcase these markets, http://www.buysafecostarica.com and http://www.belizelandproperties.com seem to have some notable listings.

  5. seamus fitzgerald Says:
    November 8th, 2007 at 2:13 am

    This is true about South America and in particular those countries.However Costa Rica and Belize are years ahead in pricing for their property’s.Nicaragua is where Costa R. and Belize was ten years ago.One can still get in on the ground floor in Nicaragua by investing there now.

  6. Servicio Social para una mejor Costa Rica Says:
    May 6th, 2008 at 10:26 pm

    Noticia importante para todos los ticos: http://www.diarioextra.com/2008/mayo/05/nacionales08.php POR NO ACEPTAR TRÁFICO DE INFLUENCIAS LE CORTARON LA CABEZA A BERROCAL: Así de contundente fueron las declaraciones del ex director de la Fuerza Pública, Fabio Pizarro, quien visitó DIARIO EXTRA para exponer lo que considera ha sido un montaje político para dañar la imagen del ex ministro Berrocal y la suya, solo por no aceptar el tráfico de influencias.

  7. Tiquicia de Verdad Says:
    May 29th, 2008 at 7:22 pm

    Opiniones de gente de verdad sobre asuntos de verdad en Costa Rica: http://tiquiciadeverdad.blogspot.com/

  8. Daniel Says:
    July 10th, 2009 at 8:23 pm

    Real Estate prices are very low in Nicaragua, so investing now would be a great idea. Plus, you get a ten year tax free incentive, and can import or buy your furniture, cars, etc. locally.

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