Sunday, November 02, 2008 -
Adventurous investors may be attracted by a new development in low-cost Nicaragua, writes Cathy Hawker.
Fortune may favour the brave, but few experts would argue that now is a good time to launch an off-plan development in an emerging market.
But while many investors are biding their time or restricting themselves to established resale markets, Canadian developer Kevin Fleming is hoping to persuade buyers to back on Central America with his project, the Seaside Mariana golf and spa resort in Nicaragua.
November 25th, 2008 at 11:23 pm
Although Nicaragua is billing itself as a low cost alternative for Real Estate projects, I and my wife have done extensive research in Central America and currently live in Nicaragua and find this assessment is incorrect.
There are bargains to be had, I agree, but dollar for dollar is Nicaragua land prices can be a tempting…. yes ! if you want to be a pioneer, or have risk capital and plenty of time to wait for appreciation, basic services like infastrucure, community, shopping, all important health services, and consistent utility service.
I have found that my dollar goes further in Honduras, San Salvador, and Guatemala, for similar types of properties. Having said that, I dare to say that I think I have found NIcaragua more expensive on several comparisons.
All Counties has their challenges, this is just and opinion and a 3 year observation from living here. I also have family Living in Honduras and they really are amazed at the stories they hear out of Nicaragua and what I confirm are my personal experiences.
I am putting my money where my mouth is and I will purchase a property in Roatan Island and in another in San Pedro Sula In Honduras. I tried very hard to purchase property here for 2 years and I still would like to but I have encountered uneasiness when dealing with a local, the lack of transparency and risk with the current ( and if he has his way ….PERMANENT ) political situation have some of my associates all re considering further investment in Nicaragua or out right leaving. I am 42 Years and I do not feel I have the luxury or desire to be a contrarian in my finances in a historically uncertain Country.
Nicaragua is beautiful, but so is Honduras, Costa RIca, San Salvador, ( parts ) of Panama and Guatemala.
From David