Archive for June, 2007
Now Nica and Coldwell Banker are in the pink
Wednesday, June 20th, 2007
The pink in Question is Britain’s traditionally pink-papered Financial Times – most definately a very serious paper, all about, you guessed it, money, or dinero as they say in these parts.
Anyway, in its weekend House & Home section it featured Nicaragua and our very own Kirk,
His wisdom above bodes well for all investors in Nicaragua and the extra publicity ensures that Nicaragua’s reputation continues to grow.
Nice one Kirk.
You can read the full article here.
That Nicaraguan Tourist Buzz is Growing
Friday, June 8th, 2007Yet more good publicity for Nicaragua, this time in British national newspaper The Telegraph.
Author Michael Kerr writes:
“Tourism has already overtaken coffee as the country’s main source of earnings. Visitor numbers reached 770,000 last year, representing an increase of 11 per cent in the past six years, and revenue totalled US$230 million.
Among those 770,000 were 15,000 from Britain, a market Nicaragua hopes to nurture. For the moment, though, most visitors are from the US, whose citizens – those who have noticed the Contra war is over – see Nicaragua as “a new Costa Rica”
For the entire article go here.
Seven Steps to Nicaraguan Property Success
Friday, June 8th, 2007Buying property and investing in Nicaragua is easier than you might think but there are still a few rules you should stick too. We hope you find our seven tips to remember useful. Happy investing!
1. Work out what market is right for you and focus there – In this respect there is little difference with property investment anywhere. A bigger gamble can reap larger profits but here your gamble might mean buying off the beaten track with few amenities.If other speculators catch up with you then your investment will accumulate.
2. Understand the link between tourism and real estate – You want a good investment – then check out where tourism is growing because real estate prices will follow. But if you just want a holiday home, in the truest sense of the word, find property in an established resort. Rental returns will be highest that way too.
3. Choose a good attorney – Gain an understanding of the local expertise. English speaking is obviously good, if you struggle with the Spanish. But you also have to know that they will commit to regular communications with you. Some real estate developers will try and persuade you to use their team for property purchasing. Our advice? Get independent legal advice at least to review the contract.
4. Make title insurance non negotiable- It might be bureaucratic and cumbersome but we recommend taking out title insurance for all property purchases in Nicaragua. Seeking it will also ensure that you attorney digs a little deeper into the title history of your property and follows a set of criteria for its reporting. Make sure you seek out well-established title insurance companies with good local track records.
6. Be prepared to do some of the legwork yourself - Nicaragua real estate is not governed by a Multiple Listing Service. This means that there is no central database on properties available on the market. So unlike looking for San Pedro CA Homes for Sale for example, you can’t simply walk into a real estate agent’s office and expect to receive a printout of all property for sale. And of course forget sorting this list further by number of days on the market, price, proximity to amenities and so on.
7. Don’t assume you can finance your purchase – You might find it very hard to get a loan here and even harder to get competitive rates. But do ask for seller financing, as there is more available these days.
8. Give something back – You are buying into a community. At every level it is in your interest to give back and to help that community prosper. What you give is up to you: employment, your time or resources. It’s also a great way to make friends and to be accepted.
Live Here Cheaper – Get Here Cheaper
Friday, June 8th, 2007The news that Spirit Airlines is providing three flights a week direct from Florida to Managua, Nicaragua, is great to hear.
The fact that this budget airline is offering some incredibley priced seats is even better. Their initial announcement trumpets 8 cent and 8 dollar flights.
Now you might have to be very lucky to score one of these (sadly we missed out) but there is a promise of cheap flights to come and increased competition means good news for flyers.
So, if you do settle here, it’s easy to nip home and see the family.
Better still, fly the family down to see you.
Nicaragua – A Nice Surprise
Monday, June 4th, 2007For the author of this article on
Just like we did.
Hewriting ends:
“With the rapid rise of tourism (over 700,000 foreign visitors in 2005) in
Nicaragua ,Granada is sure to be a much-talked about place in the years to come. Its well-preserved colonial architecture, cobblestone streets, tranquil atmosphere, ideal geographic location and many interesting activities make Granada a truly worthwhile destination, and these are the reasons why you should visit the picturesque, lakeside town of Granada in Nicaragua – regardless of your friends and families’ opinions.”
We’re glad he enjoyed it. No doubt we’ll be seeing him again soon.
Your Next Decision
Monday, June 4th, 2007If you’re buying a property in Nicaragua then you’ll have a few decisions to make before you relax on your Nica-style rocking chair in your new property.
Your next decision? Well it’s the question that divides the nation. Would you like a Tona or Victoria beer?
I bet you’re looking forward to tasting them both. In the meantime there’s no doubting that Tona sells Nicaragua almost as well as it sells its own brand.
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