What makes Nicaragua Real Estate tick? For one Nicaragua is exquisitely beautiful. The country has pleasant year-round sunshine, awesome beaches, top class surf, soaring volcanoes, and historic colonial cities. Many promoters are touting Nicaragua properties for sale as great buys. This is no wonder. Properties for sale in Nicaragua were initially helped by low prices, though the story may not be true today. Yet Nicaragua has many pros that goad buyers. It is a safe country, has growing tourism, and has excellent air connections with the United States. Though Real estate prices did see a decline during the global financial crisis, but it was not to the extent as seen in the UK, the United States, and other developed countries.
Here are some more reasons why Nicaragua Real Estate continues to fascinate investors.
- The Nicaraguan market has established lucrative retirement benefits like custom exemption for household goods.
- Some well-known title insurance companies offer title insurance on property in Nicaragua.
- Nicaragua is a signatory to the Central American Free Trade Agreement.
- The Foreign Investment Law in Nicaragua is investor-friendly. Domestic and foreign investments are treated at par. This is a wonderful advantage as the country recognizes the right of foreigners to own Nicaragua Real Estate and establish business enterprise as they wish.
- Inflation is moderately low. Massive investments in infrastructure facilities are under way. The major airport Managua International Airport has been modernized and expanded to accommodate double the passenger capacity.
- Most importantly, land for sale is a great attraction because of the spectacular natural beauty of Nicaragua. Excellent colonial architecture combined with beautiful lakes, turtle sanctuaries, exotic volcanoes, and cloud forests make the country irresistible to real estate hunters.
What are the Legal Issues to be Taken Care of?
When buying Nicaragua properties for sale have a fee freehold title. The best bet to own property in Nicaragua is in your own name. The process is simple, and the law allows you to hold property in the name of a Nicaraguan corporation. The Nicaraguan Law 344 eliminates all hindrances for inflow of capital.
What about Taxes?
You will have to pay taxes applicable under law to the local municipality. Taxes paid before March 31 is eligible for discounts.
How Do You Get to Finance Nicaragua Real Estate?
Fortunately, for investors, financing options are evolving and becoming more flexible. Most of the sales are still done on payment of cash. Some banks do offer loans at competitive rates, but the bureaucratic procedures can be cumbersome.
Some of the best investment options touted by realtors are as follows:
- Corn Islands with its swaying palms, warm waters, and a good number of English-speaking populations.
- Granada with a rich cultural heritage and beautiful colonial cities.
- Leon considered as an intellectual capital with its avante Garde University and stately churches.
- Pacific Coast with a splendidly attractive coastline.
Overall, owning Nicaragua real estate is a sound investment option. Hardly anybody who owns land Nicaragua regrets his decision. Low cost of living, friendly population, and spectacular natural beauty makes Nicaragua real estate a virtual paradise. Without doubt, Nicaragua has some of the most beautiful properties in the world.