Granada Nicaragua Real Estate Uncovered By Taylor White

Nicaragua in Latin America has one of the most spectacular South Pacific coasts that are treats for the visitors. The country lies next door to Costa Rica and is one of the poorer Latin American countries. A lot of infrastructure development is now taking place in the country just like the Pan-American Highway, which is now an extremely smooth road. This is having a direct impact on the Granada Nicaragua real estate listings. With new high-end malls and great infrastructural amenities, visitors and investors are looking for properties in Granada Nicaragua.

The tourism sector is also growing rapidly. In 2009, the tourism sector grew by around 9% and the figures for this year should also be excellent. The tourism sector performed better in 2010 than 2009 and this has given a boost to the demand for the Granada Nicaragua property listings.

North American citizens are also interested in real estate listings in Granada Nicaragua, since the locations of the hit TV series ‘Survivor’ (that was shot in Nicaragua) also became popular among the masses. Many Central American Conglomerates, such as the one headed by Carlos Pella (His conglomerate is into banking, energy, spirits, sugar and many other industries) is also investing millions of dollars in Granada Nicaragua real estate listings.

The prices for the Granada Nicaragua real estate listings are still cheaper than the properties in Costa Rica. According to Granada Nicaragua property listings, 1/3 acre plot can be bought for as low as US$ 250,000 or even less. The price for the same lot in Costa Rica can cost as much as US$ 2.5 – 3 million.

Foreigners can buy properties in Granada Nicaragua quite easily, however there are certain restrictions, when they buy beachfront properties. Under the Maritime law of the country, the first 200 meters from the high tide can’t be developed and the 50 meters after that belongs to the state. Beachfront properties are given for the lease period of 99 years. After this, there are no restrictions in developing the land area around the coast and using it for developing the beachfront properties.

According to the Granada Nicaragua real estate listings, residential properties can start from US$110,000 for a single bedroom apartment. These prices are valid for lakeside and beachfront properties. Condos and houses located near the golf resort cost much less. Rental yields are quite low and give an 8% return per year. The tax on the rental income for non-residents is high at 20% of the gross income. Capital Gains tax of 20% is applicable on the sale of properties in Granada Nicaragua. However the transactions cost for the sale and purchase of the land is quite moderate at approximately 10% – 15%.

Taylor White is an international real estate investor and leading the charge at International Real Estate Listings the worldwide leader in Granada Nicaragua real estate and Granada Nicaragua real estate listings. Granada Nicaragua real estate owners, agents, and developers are encouraged to create an account, upload an unlimited number of listings, write as much creative property details, include a You Tube property video, and it will be activated as a basic listing for 6 months, free.

This entry was posted in Business. Bookmark the permalink.