When some people think about real estate in Nicaragua, they imagine tiny beachfront homes with incredible views but little in the way of infrastructure. While it is easy to find these relaxing getaway spots, which are popular with tourists, it is important to understand that the real estate market in Nicaragua is diverse and varied.
Whether you are getting ready to make an investment in a home soon or you are just dreaming about retirement in a tropical location, these are five things you should know about real estate in Nicaragua.
1. Real Estate Is More Affordable Than You Think
You might already know that compared to real estate in beachfront resort towns in Europe, the United States or even other Central American destinations, Nicaraguan real estate is affordable. What you might not realize, however, is just how inexpensive it really is. There are no other places on the planet where you can purchase a home just steps from the beach, within a charming expat community and with such a low cost of living as Nicaragua.
2. Property Can Be Rented Out to Visitors
In some countries around the world, foreign investors can buy property but not earn money through the rental of that property. Thankfully, that is definitely not the case in Nicaragua. In contrast, renting out properties in Nicaragua is encouraged as it can increase the country's tourism awareness and overall revenue on places such as restaurants, souvenir shops and major attractions. You can rent out your property in Nicaragua for a few days, weeks or even months at a time to bring in extra income.
3. There Is Serious Potential for Resale Profit
There is little doubt that things are picking up for the real estate market in Nicaragua. Low prices can't last forever, and the increased tourism will likely lead to even more foreign investors. This means that buying property in Nicaragua now may lead to some serious potential for resale profit a few years or even decades in the future.
4. There Are a Range of Property Types Available
Yes, you can find traditional beach homes along the coastline in Nicaragua. However, there are also condos that require minimal maintenance or outdoor upkeep, sprawling homes in secure subdivisions and resort-style living where you have access to modern amenities such as fitness facilities and outdoor pools.
5. The Cost of Living Is Also Inexpensive in Nicaragua
When thinking about the real estate market in Nicaragua, it is vital to note the overall cost of living in the country. These two things are closely tied and impossible to separate. Buying property in Nicaragua is affordable but so is living there full time, while on vacation or during your retirement.
These five facts might give you a new perspective on the real estate market in Nicaragua. Click here to learn more about investing in local properties.