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The story of little Nicaragua has been anything but dull these past 40+ years. Prices for real estate in Nicaragua rose steadily until the presidency of Sandinista Daniel Ortega began.
After his election, the U.S. real estate market began to tumble and investors began to pull back, taking a wait-and-see attitude over the possibility of wealth redistribution and land reform that framed Ortega’s leadership during the latter part of the 20th century.
Lief Simon is the managing editor of Global Property Advisor, Simon Letter, and Offshore Living Letter. He has purchased more than 45 properties, investing in 23 different countries around the world.
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Political unrest, civil war, economic disaster… then a renaissance. The Sandinistas were pushed aside, and the free market was given a chance.
During these sunny days, the tourists came, followed by the speculators, the property investors, and the retirees. Speculation turned to frenzy, and beachfront property prices were pushed up and up and up and up, with seemingly no end in sight.
Then, in 2007, Ortega got himself re-elected and no one knew what to expect from little Nicaragua. Now, the bad press initially surrounding the re-election of El Presidente Ortega is turning. While still a bit of a wild card, Ortega is playing nice with the United States. He is working to clean up title on 3,800 properties held by Nicaraguans. And, importantly, he continues to support foreign investors’ land rights.
Then came 2008. Nicaragua, like many markets worldwide, fell hard in its aftermath. Now, this country is re-emerging to retake her place among the world’s most appealing bargain lifestyle and retirement choices.
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Tourists are returning. The nation welcomed one million tourists in a calendar year for the first time in its history in 2010.
For instance, tourism was up a third from 2009 to 2013 with over 1.2 million visitors to the country.
Not only tourists, but property buyers, retirees, and foreign investors began to find their way back to this country, as well.
Times were tough for Nicaragua 2008 through 2011. On the other hand, those from the U.S. should be mindful of the potential risks when buying real estate in Nicaragua.
A 2022 due diligence advisory said to proceed with great caution before investing in any property. Noting that property disputes fall under the control of Nicaraguan authorities.
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Lief Simon is the managing editor of Global Property Advisor, Simon Letter, and Offshore Living Letter. He has purchased more than 45 properties, investing in 23 different countries around the world.
We Value Your Privacy! We will not share your email address with anyone else, period.
Nicaragua offers investor tax incentives and a competitive retiree residency program launched in 2010.
For example, you can qualify for pensionado residency status (and all accompanying benefits) in this country with an income of as little as US$600—this is the lowest qualifying income for a pensionado visa in the world.
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