Property in Nicaragua? Why not.

Nicaragua is beginning to attract the attention of many foreign property investors.

After the tumultuous political upheavals of the 1970’s and 1980’s, peace has returned, and along with that, the tourists and investors have returned.

The leading tourist areas – Granada, Leon, San Juan del Sur, the Corn Islands – offer investment opportunities within the country.

Older properties in Granada and Leon are still relatively cheap, but may require some upgrading. However, there are many new developments springing up all the time and these may be where the real long-term value lies, especially if you are in the market for a vacation or rental property.

The Pacific coast, where the bulk of the population lives, is also where most new development is taking place. San Juan del Sur (pop. 18,500) is one of the most popular seaside locations and is also very close to the border with Costa Rica. This may have the effect of driving the value of this area up because, in comparison with Costa Rica, property values are still low.

With the exception of the Caribbean coast, most of Nicaragua’s attractions are very accessible from Managua.

The real investment gem may be the Caribbean coast. If you are looking for cheap oceanfront property you may be in the right place! Still relatively undeveloped with relatively low real estate prices, this may be the place to invest for the person who is looking for long-term gains.

If you have an interest in finding out more about Nicaragua real estate opportunities, then read on!

First, here are some good reasons to consider this wonderful country:

• Foreigners are encouraged by the government to invest and own real estate
• Nicaragua is fast becoming a booming tourist destination – watch the land prices go up!
• It is easy to get to – regular daily flights from North America and Europe
• A tax-friendly destination in terms of property and investment taxes
• Low crime rates
• Land is owned fee simple or freehold, which means you own it outright
• Reputable property and rental management companies available
• Fast becoming a retirement destination

Two of the more popular destinations for foreign investors are Granada and San Juan Del Sur. Both towns have large ex-pat populations and are easily accessible from Managua International Airport.

As with buying any property, either domestically or abroad, it is important to think of the following items:

1. What are your needs and expectations and how much can you afford to spend?
2. Become familiar with the area in which you are interested in buying. This can be done by traveling around the country one or several times and can be both a vacation and a familiarization trip. And, of course, speaking with a real estate agent who is an expert in the country.
3. Find out what the local market conditions are and what is available to you. Compare this data with other locations.
4. Locate a reputable real estate attorney. Your real estate agent can give you several choices.
5. Start your journey!

Alera - New Home Lending / Refinancing Don't take extra steps to locate a broker or a bank because the Alera Financial lending process takes care of it all...!

Unless you are very familiar with the system in Nicaragua, I highly recommend establishing a reputable contact via a well-known real estate company.

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