Seaside Mariana Spa and Golf Resort Price From: $58,000 Region: San Rafael Del Sur, Pacific Coast • Pre-launch investment opportunity • Jack Nicklaus golf course • Full rental management

Nicaragua

Property Nicaragua - Overview

The Nicaragua of the 21st century is all the things that most people probably thought it wasn’t – safe, affordable, peaceful, culturally diverse, environmentally stunning and teetering on the edge of a property boom fuelled by foreign interest.  Although shaking off misconceptions referring to a torrid past is proving to be quite tricky, Property in Nicaragua is now starting to gain more and more interest. 

At the centre of the isthmus which separates North and South America, Nicaragua is the largest but least populated country in Central America.  Bordered by Honduras to the north and Costa Rica to the south, the country has both Pacific and Caribbean shorelines and a wealth of natural phenomena to offer.  Virgin beaches, a remarkable volcanic chain, the largest freshwater lake in Central America (Lago de Nicaragua with an area of almost 8,300km² and curiously home to the world’s only freshwater sharks) and historic Spanish colonial towns such as Leon and Granada – the oldest colonial city on the American continent.   

Almost 20% of the area of Nicaragua is protected in some form or another such as national park or biological reserve so there is plenty for the outdoors enthusiast.  Visitors can take tours through the forests, snorkel amongst the living reefs, go surfing and kayaking, indulge in some fishing, explore the volcanoes and crater lakes, hike mountain trails, take in the abundant flora and fauna from orchids to rainforest, macaws and monkeys and ant-eaters to eagles or simply relax on a castaway stretch of beach.  Owning a Property in Nicaragua is topped off by the warmth of the Nicaraguan people. 

The Nicaraguans are very passionate and exceptionally cultured.  On the Pacific coastline you’ll find rich Amerindian, but European influenced, folklore, guitar-based music and lively dance, similar to other Latin American countries formerly colonized by Spain.  The east Caribbean coastline however borrows a lot of English-Caribbean culture seen in islands such as Jamaica and the Caymans, largely due to its legacy of being a former British protectorate.  It is also said that Nicaragua is a nation of poets creating some notable literary figures.  In fact President Ortega has been quoted as saying that “everyone is considered a poet until he proves to the contrary”.  Around 90% of the population speaks Spanish although again the eastern Caribbean coast stands as a small anomaly with plenty of English and Creole English spoken. 

The most important message from modern Nicaragua is that human rights atrocities, corruption, guerrilla warfare and civil unrest are relegated far into the past.  For a couple of decades Nicaragua has been at peace and blossoming into a free, stable, progressive and welcoming nation and the label of ‘troublespot’ no longer applies in any sense of the word.  A property in Nicaragua is an incredibly sensible and lucrative proposition. 

Property Nicaragua - The Climate    

Just 11 degrees north of the Equator Nicaragua boasts a moderate tropical climate with average temperatures ranging between 27ºC to 32ºC although the northern mountain regions and spots at high altitudes have a much fresher climate.  The dry season stretches from December to May and the rainy season is from June to November.  Water temperature on the Pacific coastline does not generally dip below 22ºC, ideal for bathing.  Can sometimes experience tropical storms.  Four stars. ****

Property Nicaragua - Accessibility  

There are currently no direct flights from Europe to Nicaragua’s International Airport at Managua so visitors will have to take a connecting flight through the US.  Property in Nicaragua and Nicaragua’s appeal however to the North American market is immense due to its ease of access, flying times to the world’s biggest tourist source market are as little as two and a half hours direct.  Over 57 flights serve North America each week accessing cities such as Atlanta, Houston and Miami with carriers to include Delta, American Airlines and Continental Airlines.  Managua Airport has just received 55 million USD worth of investment and is now a most modern facility.  The Pan American highway traverses the country north to south connecting Nicaragua to its neighbouring Latin American nations.  Three stars.***

Property Nicaragua - The Economy   

With a democratically elected government, stability for two decades and the lowest crime rate in Latin America according to Interpol and the Inter-American Institute on Human Rights, Property in Nicaragua is taking leaps into the future.  As proof of its changes for the better Nicaragua was one of the first recipients of the US Government’s Millennium Challenge Account Grant – worth 175 million USD - only awarded to countries that “rule justly, invest in their people and encourage economic freedom”.  Primarily an agricultural nation (contributing 60% of exports) relying on the production of bananas, coffee, sugar, beef, tobacco, Nicaragua is now seeing sectors such as tourism, mining and banking gather speed.  There have been recent substantial increases in private investment and exports, exports to US increased by 36% in first six months of 2007, and the GDP growth rate for 2007 was posted at 3.8%.  Nicaragua has achieved forgiveness of over 80% of foreign debt from the worlds’ major economies and multilateral institutions in recognition of its efforts to stabilize inflation.  Nicaragua has a young population, 70% of the 5.2 million inhabitants are under 30 years of age, and the workforce is flexible, highly productive and fast learning.  Five stars.*****

Property Nicaragua - Tourism   

Nicaragua's modest tourist industry - which had all but collapsed by the early 1990s - has enjoyed a revival and is in fact booming. There has been a near 50% increase in the number of tourists visiting the country over the past five years, with an average annual growth rate between 10 and 16%, but for the most important market, North America, annual growth reaches over 25%. The country's attractions include wildlife-rich rainforests, volcanoes, beaches and colonial-era architecture.  The Government is bending over backwards to attract inward investment and has implemented various tourist incentive laws minimizing income, property, import and value added taxes for investors in tourism such as hotel chain operators, golf course providers and marina authorities.  The capital Managua is predicting a hotel room deficit of over 5,000 for the next five to seven years although luxury chains such as Crowne Plaza, Barcelo and Intercontinental already have a foothold in the country, making Property in Nicaragua a great investment. Five stars.***** 

Property Nicaragua- Property Market    

Real estate laws in Nicaragua allow ownership by foreigners complete with freehold title recorded at the Property Public Registry and the same rights as citizens of the country.  Land prices increased 300% since 1997 and the general movement is towards turnkey luxury developments with sophisticated services such as championship standard signature golf courses and Spas.  The main target audience for property in Nicaragua is retirement and the second home market in North America.  Property in Nicaragua and Off-plan coastal property is expected to rise in value between 20 and 30% each year, particularly as plans are afoot to limit the amount of building within reach of the beach thus pushing up demand for property in Nicaragua.  Five stars.*****