Real Estate – Granada Nicaragua Evaluation

Granada Nicaragua real estate is developing fast along with the infrastructural developments in the country. The rates are much lower than the similar properties found worldwide in the international real estate market. Nicaragua in Latin America has one of the most spectacular South Pacific coasts that are treats for the visitors.

The country lies next door to Costa Rica and is one of the poorer Latin American countries. A lot of infrastructure development is now taking place in the country just like the Pan-American Highway, which is now an extremely smooth road. This is having a direct impact on the Granada Nicaragua property listings. With new high-end malls and great infrastructural amenities, visitors and investors are looking for properties.

The tourism sector is also growing rapidly. In 2009, the tourism sector grew by around 9% and the figures for this year should also be excellent. The tourism sector performed better in 2010 than 2009 and this has given a boost to the demand for the property listings. North American citizens are also interested in property listings in Granada Nicaragua, since the locations of the hit TV series ‘Survivor’ (that was shot in Nicaragua) also became popular among the masses. Many Central American Conglomerates, such as the one headed by Carlos Pella (His conglomerate is into banking, energy, spirits, sugar and many other industries) is also investing millions of dollars in property listings.

The prices for the property listings are still cheaper than the properties in Costa Rica. According to property listings, 1/3 acre plot can be bought for as low as US$ 250,000 or even less. The price for the same lot in Costa Rica can cost as much as US$ 2.5 – 3 million. Foreigners can buy properties quite easily, however there are certain restrictions, when they buy beachfront properties. Under the Maritime law of the country, the first 200 meters from the high tide can’t be developed and the 50 meters after that belongs to the state. Beachfront properties are given for the lease period of 99 years. After this, there are no restrictions in developing the land area around the coast and using it for developing the beachfront properties.

Read Full Article

Both comments and pings are currently closed.

Comments are closed.