Investment Opportunities in Real Estate in Nicaragua – Costa Rica on the Rise
Do you love the virgin beaches, the turquoise blue waters of the sea and the adrenaline that runs through your veins while you walk or are you just a real estate investor? If any of these are true, you may want to invest your hard-earned money in real estate in Nicaragua. Located in the heart of Central America, Nicaragua has become the hot topic for real estate investors these days. It is only a few hours flight to Managua, the capital of Nicaragua, from various cities in the US.
During the last decade, the tourism industry has boomed in Nicaragua. According to an official statement from the Nicaraguan government, tourism was able to contribute more than 240 million dollars in 2007 to its 6 billion dollar economy. It was also mentioned that during 2008, 1.6 million visitors from various parts of the world visited Nicaragua. Not only backpackers, but also tourists from the upper ridge societies poured in groups and the resorts, beach resorts couldn’t accommodate them all.
As stated before, Nicaragua is full of natural beauty. The pristine mountains offer an impressive hiking experience combined with snowboarding on the volcano. The beaches have facilities for watching olive ridley turtles, deep-sea fishing and world-class surfing. Tourists can simply wander through the local markets and get a first-hand experience of traditional Nicaraguan handicrafts.
The purchase of property anywhere in the world should not be based on the brochures and pamphlets of real estate entrepreneurs. If you want to invest money to buy properties, you must have vivid knowledge about cultural heritage, social ties, infrastructures, extent of government aid, political affairs, and tourism trends. Nicaragua will pass in all these matters with great success.
As many parts of Nicaragua remain uncharted territory compared to Latin American countries, investing in real estate in Nicaragua is not yet a high-level goal. Beach properties can still be purchased for less than $150,000. The cost of living is almost half of what you can expect in the US In addition, you will be granted tax benefits as a foreign investor under Nicaraguan Law 306. All these factors make investing in real estate in Nicaragua more persuasive.
The cost of land starts at $40,000 for a quarter of an acre and goes up every day. You can expect a twofold increase in your investment within 3 years or so. The cost to build is just $60-$100 for high-end building materials. Returns of rented houses and offices are also on the rise. Within 5 years from now, according to the government study, Nicaragua will see a multiple increase in its economy. It is expected that there will be more demand for office space, apartments and houses for employees.
Nicaragua has been projected as the ‘paradise of retirees’. Exquisite natural scenery, rich cultural heritage, low cost, and proximity to the US make Nicaragua an automatic choice for retired US citizens.
Therefore, if you are an avid real estate entrepreneur, investing in real estate in Nicaragua is undoubtedly the best purchase.