In recent years, Nicaragua has truly matured as a destination for tourists, seasonal visitors, retirees and others. Here are some positive factors that are building momentum in real estate development, especially in the western corridor near and along the Pacific Ocean.
In recent years, Nicaraguan highways have been dutifully upgraded to the point that they are now the best in Central America. Tourists, expats, and seasonal visitors can get to more places much more quickly. This equates to more enjoyment of all that the country has to offer.
Nicaragua has been attracting a greater amount of much-needed capital. This has resulted in those improved highways, and it has also improved schools and medical care for the general populace. All of this adds to the quality of life for those choosing to retire here or maintain a vacation home.
Today, real estate developments have an edge over other neighborhoods, in part because they focus on necessary local infrastructure. Electricity, water and roadways are all important infrastructure elements that cannot be taken for granted everywhere in the country. Developments such as Gran Pacifica deliver infrastructure along with quality construction standards.
Renewed Buyer Interest
Since 2011, Nicaragua real estate development projects have benefited from a renewed influx of interested buyers. In the early part of the century, there was a boom of sorts in real estate development in Nicaragua. Speculation was behind a disproportionate part of the growth back then.That added to the challenges that followed.
The years from about 2007 to 2010 were somewhat tumultuous, also because of the latent effects of economic challenges elsewhere, such as in the United States residential real estate market. Now, in the last several years, various golf course communities and oceanfront communities on the Pacific side are attracting more buyers who want to settle there.
Renewed Buyer Capability
The cost of living is still low, and this has been attracting retirees from Canada, the United States and Europe. The reality is that Nicaragua real estate development is tied to stabilizing home markets on other continents. Now, in the United States, home prices are rebounding quarter after quarter.
Prospective home sellers are entering the market and, in increasing numbers, selling their homes for the prices that they need and want. In turn, they are freed to come retire in beautiful Nicaragua.
The sheer beauty has always been here, along the coast and elsewhere. Now, however, international travel publications and websites are taking note with ever-greater frequency.
Although world-class surfing is a definite attraction, the establishment of various golf courses, including Gran Pacifica's, has broadened the recreational options between Managua and the Pacific coast. This has also garnered the attention of travel experts.
All of this has been generating solid and steady growth in the country's real estate developments. Oceanfront hotels and communities will likely appear to a greater extent along the Pacific coastline as this maturing market continues to attract astute buyers that appreciate the beauty, recreation and low living costs that are all found here.