Emerging Property Markets

Could Nicaragua Be The Next Retirement Hot Spot?

Regions that can attract retirement money are set it seems to do well from direct foreign investment. The worlds increasing retired population means that this sector of the international property buyers is serious business. One country that wants to benefit from the ‘Grey Dollar’ is Nicaragua.

Nicaragua officially the Republic of Nicaragua is a democratic republic and the largest nation in Central America. The country is bordered by Honduras to the north and by Costa Rica to the south. With some 450 miles of coastline on both the Caribbean Sea and the Pacific Ocean, great weather and some of the lowest property rates in the Western Hemisphere, the country is poised to become a property hot spot.

Nicaragua is set to follow in the footsteps of its neighbour to the south, Costa Rica, and become a popular destination for holiday travelers and especially retirees. Nicaragua recently launched its own pensionado program to attract potential retirees. Any person over 45 with a pension or salary of more than US $500 a month can import up to $10,000 worth of personal goods and a car duty free and be exempt from taxes on foreign income and property for ten years. Average prices are much less than in other neighboring countries and the country has seen some new developments in recent years that offer idyllic property along both coasts.

According to Economist Intelligence Unit the country is the Western Hemisphere’s second safest behind Canada. Property costs for a quarter acre beachfront lot averages $159,000, about a third of what the same would go for in Costa Rica. The major airport in the country is August Sandino International Airport, or Managua International Airport (MGA), located near Managua. From there, it is best to rent a car and drive as that is the best way to get around the country.

Useful Resources
Property for sale in Nicaragua
http://www.nicaragua.com/
http://www.nicaliving.com/blog/2

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