Despite my intended hyperbole in a recent post regarding the upcoming Coastal Law and its possible negative outcome, I really don’t believe that Ortega would allow such foolishness. Too many investors and too much money is involved to mess with the Coastal Law too much. Any law that would stifle growth would also be too damning to Ortega’s reputation as the guy who is going to finally make some lasting changes for the people of Nicaragua, and those changes are going to happen because of tourism.
Visions of hammocks on the beach dance around the heads of millions of burnt out middle-class workers as they sit in front of their computers each day. U.S. workers and those around the world need holidays away from the blue screen to maintain their sanity, and Nicaragua is staged to accommodate them. Most baby boomers believe that the USA is still the greatest country on earth in terms of entrepreneurial opportunity, but that doesn’t necessarily mean they want to live here full time.
According to statistics from AARP, nine percent of the 76 million baby boomers are “affluent,” earning over $150,000 per year. That’s about seven million retirees getting ready to party. The National Association of Realtors recently did a poll that showed 15 percent of baby boomers are interested in buying a second home. It’s not a stretch to think that a bunch of these soon-to-be retirees are going to be looking for the best ROI for their second home, say, somewhere warm and near the ocean, where they have hammocks. Hello Nicaragua. Incidentally, 15 percent of 7 million is over a million people. Tourism and retirees have pumped billions of dollars into the economies of Mexico, Costa Rica, and Panama over the last two decades and it’s time Nicaragua gets in the game.
One of the challenges for anyone interested in playing with the idea of investing in Nicaragua is finding good sources of information about real estate, locations, financing etc., and I recently found an excellent source called Coastal Dreams. Coastal Dreams is a website that has a lot of really good information, things you might not of thought of, helpful hints and could be a real asset for those ready to take investing in Nicaragua seriously.
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July 1, 2008 at 12:27 am
RE/MAX Horizons
The Coastal Law will not affect both Agrarian reform, as well as properties whose titles were issued before 1917 (which is most properties).
They are only talking about pushing it back at max, 50 meters (from 30 meters), but again this will not affect most properties. Mainly people who have been buying concesion properties from realtors who either do not know better than to market it as a legit title, or really don’t care.
Work with a reputable realtor, and you have little to worry about.
August 7, 2008 at 2:31 pm
Nicaragua Surf
I agree with RE/MAX, you have to work with a reputable realtor to keep things safe.
December 23, 2008 at 1:54 pm
Pospina
My husband and I just had a corrupt judge hand our 20 year old property near Granada to a Nicaraguan man. The initial explorations of the case appear to show that there is political interests behind the judge’s decision that gave the order and the man that is leading the invasion. My husbadn has the legal tittle and has paid 20 years of taxes on it.
You are rigth about Nicaragua being a wild bet. My husband bougth the land in 1990 with the idealist view that after the war Nicaragua would grow and prosper and he wanted to be part of this rebirth.
Well, too bad for his dreams and too bad for the possibility of ownership in Nicaragua. I would advise a lot of caution!!!!!!!!!!!!!!!!