The state of the real estate market in Nicaragua 2009
Investors looking at purchasing real estate in Nicaragua need good data to make good decisions. Until now, finding this data has been quite difficult. There are no centrally held databases collecting market data and no Multiple Listing System (MLS).
Our goal at Reveal Real Estate is to plug this information gap. We aggregate asking prices from real estate developments that target the international buyer and put this information online. It’s the next best thing to a functioning MLS or centralized database.
2009 Nicaragua property price report
The table looks at property in real estate developments – effectively the luxury end of the Nicaragua real estate market.
Most of the developments are located in key ‘purchasing destinations’ or property hotspots such as San Juan del Sur, Tola Rivieria, and the Central Coast, offering close acccess to surf breaks, swimming beaches and other tourism attractions.
Beachfront condos registered the highest median price in 2009 - But when looking at price per square foot, ocean view condos come in as more expensive. The only two property categories to have a median price/sqft greater than $200 are beachfront condos and ocean view condos.
Long ocean view lots have a median price/sqft of $4.11 – This is lower than the median price for serviced lots that have views of a golf course or fresh water (Lake Apoyo and Apanas primarily).
Beachfront and ocean view property has the highest price/sqft - This holds true for houses, condos and lots. But if your house or lot has only a distant view of the ocean, you may find that lake view property has a higher price/sqft.
Comparing property prices with 2008
We’ve in the process of comparing this new 2009 data with prices in 2008 and will be revealing the trends in later posts.
We’ll also be digging deeper, breaking down the information by ‘property hotspot’ and running comparisons with other Central America markets.
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