The Bright Future of Nicaragua Real Estate
Why Nicaragua Real Estate Is Top of Mind (or maybe not)
What have you heard lately about Nicaragua real estate opportunities? Can you imagine what it would be like to retire there?
Just close your eyes and see what you can remotely picture in your mind. Certainly you can picture warm water, tropical winds, and sunny ocean beaches; most definitely fishing and surfing, and all that comes with laid-back island life. These images so far may remind you of SoCal or Hawaii.
But then your mind wonders. Who really lives in Nicaragua? Is it safe? How remote or accessible is it? What about the economy? How politically stable is it? What would it be like to live there?
What you probably didn’t imagine are pristine coastal properties surrounded by untouched lush jungle that some Nicaragua real estate investors predict will increase in value up to five hundred percent in the next few years. The country remains approximately eighty percent undeveloped.
What’s New in Nicaragua
Nicaragua is Central America’s largest country, but one of the least populated. Why? Because few people are lucky enough (or brave enough) to have discovered it. This wild tropical paradise with a very stormy, dark history now sees a peaceful and bright green future. Inspired by its two neighboring tourist and retirement destinations – Panama and the “Oh-so-hot” Costa Rica – Nicaragua is finally getting it right.
The Nicaraguan government is heavily invested in targeting foreign investors, namely North Americans. Interior road construction projects, shopping malls, improved water and sewer systems, hospitals, and new transportation initiatives are all underway.
Nicaragua’s good news is spreading quickly. Conde Nast Traveler calls it an “exciting emerging destination” and names Nicaragua a top ten destination to watch in 2014. Nicaragua’s new safe and friendly appeal, unspoiled quiet beaches, lush tropical rain forests, exotic wildlife – and of course, lovely Lake Nicaragua – are all good reasons to visit. Did I mention you can get there in about three hours from the southern U.S.?
But there’s more you should know about investing in Nicaragua.
Why You Should Buy Real Estate in Nicaragua
Living Costs Are Low
Can you live on social security alone? You can in Nicaragua! In 2010 AARP named Nicaragua one of the best places to retire abroad, largely due to the low costs associated with housing and food. Now, with the government’s dramatic infrastructure improvements and Nicaragua’s Retiree Benefit Program, you get even more for your buck today.
Nicaragua’s retirement benefits for expats are the most favorable in Central America. It’s no longer a secret that Nicaragua is poised for strong economic growth as a top retirement destination and expat mecca.
Timing Is Right and Real Estate Is Still Affordable
Nicaragua’s tourism is steadily on the rise, and so follows the demand for Nicaragua real estate. If you’re looking for an “early-in” investment opportunity, your timing couldn’t be more right. Modern infrastructure and political stability are accomplished. New resorts and eco-lodges are popping up throughout the country. The economy is thriving.
And, yes, the opportunity still exists to purchase your dream at an affordable price. The “mango on top” – Nicaragua has few restrictions on the purchase of real estate relating to foreign investment. According to the Bomchil Group (an Association of Latin American Law Firms), foreign investors have the same property rights as local investors.
Culture and Lifestyle Is a Bit Hard to Beat
Nicaragua is known as both the “land of poets,” and the “land of lakes and volcanoes.” The name means “here united with the water.” Nicaraguans thrive on freedom and independence. They’re a creative, vibrant, and happy culture bound by religious freedom, tolerance, and community.
Religious celebrations and cultural festivals draw huge crowds and can last for days. In a “coconut shell,” life in Nicaragua is as simple as you want it to be. The best part is, you choose it.
You can catch a Tarpon, hike a volcano, surf The Boom, or lounge on the beach. Relax in your hammock and read a book, go to a baseball game, or learn to play the marimba and dance The Mestizaje.
If you long for something more than recreation, fiestas, and quiet time, you can always volunteer in your community or start your own business.
Nicaragua’s Best Real Estate Options
The hottest Nicaraguan retirement destinations right now are the colonial cities of Granada and Leon, the capital of Managua, and most notably the southwestern corner of the Pacific coast around San Juan del Sur, where beachfront property options abound.
Situated just 27 miles from Managua on the shores of Lake Nicaragua, Granada is the oldest city in the country. Picture a lazy day in a Spanish colonial town, cooling Lake Nicaragua breezes, historic buildings with red tile roofs, 17th century cathedrals, and treasure-filled museums.
You can smell the aroma of your favorite European dish. You’re preparing to go kayaking and volcano hiking. This could be why Granada is one of the fastest-growing tourism areas in Nicaragua.
The primary northwest city and agricultural capital of Nicaragua, Leon is also a colonial town filled with historic architecture, ruins, ancient cathedrals, and eclectic museums. But what makes it most unique for Nicaragua is, it’s a thriving university town full of cafes, shops, and students.
Property here treats you to impressive views of Momotombo and Momotombito volcanoes. You will get to know Cerro Negro, the youngest volcano in Central America.
Managua is the spot for you if you enjoy the convenience of big city life. It is the nation’s hub for residents and visitors alike. You can easily take excursions from here to any destination in the country.
Aside from city life, you’ll enjoy your frequent visits to Masaya Volcanic National Park and the Masaya craft markets, beach resorts, and Montibellli Nature Reserve.
San Juan del Sur
Think sand and surf on the Pacific coast near Costa Rica’s border. San Juan del Sur is Nicaragua’s most popular surfing destination and beach town. If you love fishing, fresh seafood, and surf, you’ll be in good company.
San Juan del Sur is the country’s most famous tourism destination and has already attracted its fair share of foreign investment. Kick your shoes off and slow down. There’s no “hurry” here.