Real Estate in Nicaragua

One of the things that brought us to Nicaragua (besides the Tequila I mean), was an episode of International House Hunters (HGN).  A couple (in Granada) looked at UNBELIEVABLE colonial style homes near the Central Park - and the cost blew us away.  This couldn't be true!

We started looking on our own - and were pretty impressed with what can be bought here.

A little history.  Within the past decade (when the economy was booming) there was a great interest in owning property in Costa Rica.  And for good reason.  It is gorgeous, stable, and WAS a pretty good buy.  But after American investors flocked in, the prices got high too.  Then came other Central American paradises (like Panama - still cheaper than Costa Rica but not by much).  Eventually, countries like Ecuador, Honduras, and Nicaragua.  Speculators (far fewer) bought very cheap properties and waited for the Costa Rican 'type' boom.  And then, the world economy collapsed.   The short answer regarding the current market?  Many very nice homes (far cheaper than they were a few years ago) that Nicaraguans can't afford to even look at.

Nicaragua also suffers from a world perception that is stuck in 1985.  That war, as devastating as it was, is an ancient memory.  And there is far more visible damage from the earthquake of 1992 (Managua) than the war.  Here is the reality:

The weather is HOT, the people are as friendly as any I've met - ANYWHERE.  The beer is cold (and cheap), the cost of living is next to nothing, the crime rate is non-existent, and the price is right. 

Before you freak out thinking we've had too much rum, DON'T worry.  We were just looking (but it's pretty fun).

Here are some glimpses :

 Casa Alta - Three bedrooms, three bathrooms, swimming pool, interior garden.  $350,000.

Casa Yami: This home is one of the first 100 built in Granada (in the mid 1500's).  High ceilings, ornate wood, four bedrooms, four bathrooms, gorgeous.  Price $345,000.  There are more than 3,000 sq feet in this home!

We loved this one (the houses here have names, and this is called 'Casa Oklahoma'). 

Almost perfect, with no renovating needed.  $350,000.  It has 5,000 sq feet, five bedrooms, four bathrooms, a pool, separate indoor garden.  Huge living space.  LOVE IT

This was built (and is being operated) as a hotel  Sure would make a nice five bedroom house.

Known as the Bohemian hotel, each room has a full bath.  There is a nice garden, and the unfinished lot next door is included.  It has been plumbed for a large sized pool.  $349,000

So, if you are looking for a warm place to retire with a low cost of living and REALLY nice people....


PS The important business meeting we had scheduled for 1:30 didn't work out and we are hoping to get together tomorrow.  Will report!

Hasta Manana