Yes, we do mean Nicaragua, the country in Central America. And yes we do realize that Nicaragua suffers from a bad reputation. Much of the negative press about the country stems from the messy Sandinista versus Contra revolution of the 1980s. But let’s not forget that over two decades have passed and the country is now firmly on positive growth path. Some would even say that the negative reputation that Nicaragua still has in parts of the world presents a unique opportunity for real estate investors. They’re able to get in early, at ground-floor prices, before the rest of the world updates its opinion about the country.
The signs of positive growth in Nicaragua are numerous. Let’s take tourism visitors for example: In 2010 over 1 million tourist visitors arrived in Nicaragua. That’s a record-breaking number and is beginning to cement the country’s standing on the worldwide tourism map. How about the economy? Well it’s beating regional averages for growth and 2010 was a record-breaking year for exports. There are infrastructure projects going on across the country, particularly in key tourism locations, and adjustments to the tax code for retiree residents make the country more interesting from a residency perspective.
So if you’re interested in purchasing real estate, where should you look?
We think the colonial town of Granada should certainly be on your list. For a start it’s the oldest continually inhabited colonial city in the Americas. It’s got very well preserved historic center and you can still pick up gorgeous Spanish-style colonial homes for a decent price. Check out this recent New York Times article for example about real estate opportunities in Granada.
If you’re more interested in beach real estate then headed to San Juan del Sur. It’s a charming fishing village nestled in a half moon bay in the south of the country. The coastal landscape here is gorgeous with rolling hills brushing down to meet Sandy secluded bays. And you’ll find that property prices here at far less than similar standard property in Belize, Costa Rica and Panama. See more on property prices for the region in this article published over at the International Property Journal.
Finally it’s worth checking out an area known as the “Central Pacific Coast.” There are some ambitious real estate developments underway here including three planned championship style golf courses. And the key attraction of this area is its location less than an hour from the capital city of Managua and the international airport.