Spanish is the official language. Agriculture and tourism had been the main growth engines of the Nicaraguan economy in this decade. Statistics show that the Nicaraguan tourism sector has experienced a growth of more than 70% in the last 7-8 years. Foreign direct investment had also increased by around 80% between 2007 and 2009. Agritourism and ecotourism had resulted in a substantial increase in the Nicaraguan real estate market and in local construction activities.

In particular, the city of Granada and its surroundings have been the focus of international real estate investors in recent years. Americans and Europeans had been buying and renovating old houses and offices. However, this has led to significant price increases in real estate for sale in Nicaragua and rentals in Nicaragua in this area. As such, international developers had turned their attention to the northern regions of the country. The cities of León, Matagalpa, and Corinto had risen to prominence in Nicaragua, and the beaches around Corinto and León also gained prominence as good prospects for international investment.

One of the main attractions of the Nicaraguan listings had been the low cost of living, compared to Belize, Panama, or Costa Rica. With Nicaraguan real estate prices remaining low, there are ample opportunities for international investors to make long-term returns, if they plan their Nicaraguan real estate investments in the right way. Property taxes are also low in Nicaragua. The open-hearted welcome that Nicaraguan citizens offer to foreigners is another great attraction. Individual homes, condos, beach properties, and vacant lots of varying sizes are available at highly competitive prices. For example, a 2-acre lot would cost between $ 30,000 and $ 125,000, depending on the area. Beach properties from 5,000 to 10,000 sq. Pie can be purchased for as little as $ 20,000 to $ 90,000. These types of Nicaraguan real estate for sale and rentals in Nicaragua are highly profitable deals for international real estate investors with a long-term vision.

Like investments in other Latin American countries, international real estate investors should take proper precautions when investing in Nicaragua. It is advisable to hire a reputable local attorney to smoothly negotiate in Nicaragua for Nicaraguan sales or rentals. You must first obtain the title deed to the property and the map of the property from the Property Registry Departments in the 17 states of Nicaragua or from the Property Registry Offices in each registry department. Property history, property taxes paid in local municipalities, and all property bonds or mortgages are also available from the Registration Department. When the international investor is satisfied with the authenticity of the property’s ownership by the seller, financial transactions should be conducted through an escrow account to safeguard the investment. After obtaining legal title to the property, the investor must obtain adequate title insurance through a certified title insurance law office. When foreign investors follow this process, their investments in Nicaraguan real estate listings will be safe and profitable.