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Nicaragua is down-to-earth and authentic. There’s not much of the glitz you’re starting to see elsewhere in the region. The tourism minister likes to say that “Nicaragua has everything except snow.” That may be the case but it’s still a country searching for a stable identity on the world stage.
One thing everyone agrees on is that Nicaragua is beautiful. The country has magnificent beaches known for their world-class surf and pleasant year-round sunshine, soaring volcanoes, huge freshwater lakes and historic colonial cities. Nicaragua’s strong year on year growth in tourism visitors is testament to this appeal.
Cost of living in Nicaragua is cheaper than in Belize, Costa Rica or Panama (Of 214 countries ranked in the 2011 Mercer Worldwide Cost of Living Survey, Nicaragua’s capital, Managua comes in at #213.) The flipside of this equation GDP per capita is among the lowest in Central America. Nicaragua also scores at the low end in indicators such as the Human Development Index (see chart), Index of Economic Freedoms and Transparency International’s Corruption Perception Index.But make no mistake, Nicaragua is moving forward. Data compiled by the IMF showed that Nicaragua beat regional averages for economic growth in 2011 and the country has improved against many categories in the World Bank Doing Business Report 2012,
An ‘early-in’ market for Nicaragua real estate?
Browse the top property listing sites and you’ll find surf real estate, ocean view properties, historic colonial homes in Granada, beachfront lots, vacation homes, beach houses, beach condos, oceanfront property and so on. It’s an exciting, very diverse property market with a great deal to offer.
Promoters tout Nicaragua real estate for sale as representing an ‘early-in’ market at the beginning of a growth phase. It may not stay at this point in the curve for much longer. Nicaragua has already seen significant growth the past few years, partly helped by inexpensive prices, a reputation as a safe country, growing tourism and increased air connections with the United States.While poverty reduction and economic development still pose challenges, the country has enormous potential for a positive future. Right now, some commentators are wary of Nicaragua given the rhetoric from President Daniel Ortega and his close relationship to Hugo Chavez the controversial leader of Venezuela. But others are saying that Nicaragua real estate presents a huge buying opportunity with developers releasing property at never-to-be-seen-again prices.
Large scale road improvements are taking place in key tourism areas and new businesses are opening. Nicaragua has complied (unlike many other nations) with prescribed IMF demands for cutting its deficit, implementing structural reforms, and maintaining overall monetary stability. This, together with the successful completion of negotiations of the Central American Free Trade Agreement is helping to drive the improvement of infrastructure, economic situation, and position in the global marketplace.
Real estate in Nicaragua: after the downturn
Our 2009 and 2010 data revealed that although asking prices for real estate in many of Nicaragua’s master planned communities fell year-on-year, the international real estate sector did not experienced the large, across-the-board declines seen in the US, UK and other developed world markets.
A key reason for this is the undeveloped mortgage market in Nicaragua for international real estate purchases by foreigners. As most buyers pay in cash there’s no shadow inventory of foreclosures dragging the market down. The low property taxes in Nicaragua have also helped. Still as sales rates slowed in 2009, some real estate developments have stalled and others are pulling back on more ambitious aspects of their master-plan. Pre-construction and off plan properties, particularly in projects at an early stage of development, are still struggling as investors increasingly turn to lower risk completed properties in more established locations.
A bright spot in the international property market is the growing sector of ‘lifestyle buyers’ looking for small, functional, turnkey property. They’re attracted by the low cost of living possible in Nicaragua and keen to pursue a life overseas away from the glare of what they perceive to be an increasingly predatory government style back home. Developers who are able to shift their attention away from the speculator and address the needs of the lifestyle buyer are doing well in the current investment climate.
Nicaragua property hotspots
The consolidation of the coastline in the south west of the country between El Transito and Costa Rica as the prime real estate zone, with San Juan del Sur as a pivotal center, is underway. Over 80% of Nicaragua real estate projects in our survey fall within this zone which takes in the Central Pacific (due west of Managua and closest to the international airport), the Tola Riviera, the town of San Juan del Sur, the Maderas/Marsella area and the coastline south of San Juan del Sur to the border with Costa Rica. On offer are dramatic ocean vistas, secluded beaches and famed surfing waves.An important property hotspot away from the Pacific is the colonial town of Granada. For the most part, the Granada real estate market comprises individual colonial homes (both restored and un-restored) for sale rather then property within planned developments.
Our Nicaragua property page provides more information on price points for real estate across different categories. Subscribe to the Reveal Real Estate newsletter for more analysis of real estate in Nicaragua comparisons of property prices across Central America.
Types of property ownership
The majority of property for sale in Nicaragua has a fee simple (freehold) title. There is leasehold property for sale, although this makes up a small proportion of total sales of Nicaragua real estate in the country. Some Nicaragua real esate is held as titulo suppletorio (providing rights of possession). In many cases it is possible to rectify possession title to freehold (fee simple) ownership but the process is cumbersome and long-winded.
A new Coastal Law was approved in June 2009 by the National Assembly. It provides a solid framework for managing the development of Nicaragua’s coastline and puts in place strong measures for protecting private property ownership. The public zone has been defined as 50m from the median high tide mark.
Purchasing and registering property
All Nicaragua real estate purchases must be witnessed by a local attorney and notary public. (In Nicaragua, attorneys are also notary publics) The legal due diligence involves reviewing the escritura publica (public deed); libertad de gravaman (document showing absence of liens and encumbrances); solvencia municipal (document showing the state of taxes on the property) as well as any additional terms and conditions of the contract of sale. For certain transactions a technical due diligence runs in parallel and considers (for example) boundaries and topography, water availability, energy availability, analysis of permissions and permits, highest and best use studies and Nicaragua property market studies.
Once the due diligence periods have been completed and the property is cleared for sale, the closing is scheduled. At the closing a new public deed is drawn and signed by both seller and buyer (or person with power of attorney for either party) in front of a notary public. At the same time funds for the purchase of the property are transferred from the buyer to the seller.
Following the closing, a Catastral Certificate and valuation is obtained at the Catastral office and a property inspection is carried out to assess value. Transfer taxes are paid and the document obtained from the Catastral office is inserted in the pubic deed. Property registration takes place at the public registry.
What’s special about Nicaragua from an investment perspective?
- An early-in market with lower prices than others in the region.
- The passion for living and welcoming spirit of her citizens.
- Low cost of living to entice the lifestyle purchaser.
- Historic colonial homes, lots right on a surf break, beachfront vacation homes, ocean view condos, the property market has much to offer.
- The beginnings of a strong green real estate and responsible development movement.
- Relatively undiscovered – a destination to be experienced now as it was meant to be experienced.
Listings Map
Recent Listings
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Tropical Country Home For Sale : $180,000
Beautiful Managua, Nicaragua Home This beautiful two story gated home comes with 5 bedrooms, 4 full bath rooms and a delightful Reading/Computer/Sun Room or office space upstairs. In front of the house is a large front porch and over head more...Country : Nicaragua
Location : Managua
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Bliss On A Crater Lake In Nicaragua For Sale : $29,000
When it comes to crater lakes, Laguna de Apoyo is perhaps as close to perfection as you can get. And what matters most in a beautiful natural setting such as this one is the view. This property? Well, it delivers more...Country : Nicaragua
Location : Lake Apoyo
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Talanguera Condominiums, San Juan del Sur For Sale : $220,000-$400,000
Beach front condos in Talenguera, Playa San Juan del Sur on the Pacific coast of Nicaragua within walking distance of town. Talenguera is an upscale residential neighborhood of San Juan del Sur. A pedestrian walkway offers quick and easy walking more...Country : Nicaragua
Location : San Juan del Sur
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Selva del Mar For Sale : $20,000-$95,000
Selva del Mar (Ocean Jungle) is located west of Playa Gigante in Nicaragua and is envisioned as an eco-resort. Long ocean view and green view lots are available. The road access from Tola is unpaved but regularly graded. The Tola more...Country : Nicaragua
Location : Tola And Popoyo
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Secret Cove For Sale : $120,000-$200,000
A residential resort development located overlooking the Bay of Salinas in the most southwesterly portion of Nicaragua. The hills of Costa Rica's Guanacaste region are easily visible here. Secret Cove offers homes and condos for sale. The paving of the more...Country : Nicaragua
Location : South of San Juan del Sur
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Seaside Mariana For Sale : $150,000-$1,900,000
Seaside Mariana is a residential resort community located on the Central Pacific coast of Nicaragua. It is the site for a planned Jack Nicklaus championship golf course. The community is set on a 923 acre gated beach front property. more...Country : Nicaragua
Location : Central Pacific Nicaragua
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Remanso Beach Resort, Nicaragua For Sale : $60,000-$200,000
Remanso Beach Resort is located south of San Juan del Sur on the first easily accessible beach. Ocean view lots and homes are available for re-sale in this residential community. Remanso beach is a well-known surfing spot and benefits from more...Country : Nicaragua
Location : San Juan del Sur
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Rancho Santana For Sale : $40,000-$1,350,000
Rancho Santana is located on a 3000-acre reserve in Nicaragua with two miles of Pacific Ocean coastline and five distinct beaches. Ocean view real estate and beach front condominiums are available with access to surf breaks. This is one of more...Country : Nicaragua
Location : Tola And Popoyo
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Rancho Papayal For Sale : $20,000-$60,000
Rancho Papayal is located 2 miles north of San Juan del Sur in Nicaragua overlooking Nacascolo bay. The development offers ocean and bay view homesites set within a natural environment. Currently the short drive from San Juan del Sur to more...Country : Nicaragua
Location : San Juan del Sur
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Rancho del Oro For Sale : $20,000-$60,000
Rancho del Oro is comprised of a 20 acre parcel of land in the foothills of San Juan del Sur, Nicaragua. The development contains two reserve areas and offers ocean view home sites with close access to the shops, cafes, more...Country : Nicaragua
Location : San Juan del Sur
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Prana del Sol For Sale : $20,000-$60,000
Prana del Sol, (the Yoga Lots) is located five minutes walk from Playa Gigante, and a 25 minute drive west Rivas in Nicaragua. Green view lots are available. The project is “eco-focussed” and provides surfers with close walking access to more...Country : Nicaragua
Location : Tola And Popoyo
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Portofino, Nicaragua For Sale : $190,000-$450,000
Portofino is a planned modern Mediterranean style condominium community in the La Talenguera part of San Juan del Sur. The masterplan details seven four-floor buildings. The Talanguera area is emerging as one of San Juan del Sur's most prestigious more...Country : Nicaragua
Location : San Juan del Sur
4 Comments → “Nicaragua real estate”
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Christopher W. Allen
Feb 16, 2012
Christopher W. Allen
Feb 16, 2012
I wish to purchase a small beach cottage near a surf beach and town on an acre or two.
Reply
In Nicaragua
admin
Feb 16, 2012
Hi Christopher, Thanks for the comment. Nicaragua has a great many investment opportunities located close to a surf break. I’ll reply to you offline. Best, Jane
John
Mar 24, 2012
I’m also looking for what Christopher is looking for – in Florida
Jane
Mar 25, 2012
LOL John!