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Buying Nicaraguan Land – It’s Cheap but should
You Buy
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Buying
Nicaraguan Land – It’s Cheap but should You Buy
Buying land in Nicaragua has become more popular with Americans,
who are looking to get more land for their money. With Nicaraguan
land being well over 80% cheaper than land in the USA, lots of people
are looking to buy – as it looks like a good investment. Many companies
are talking about gains of 100% to 200% in just a few years!
On the surface it looks a great deal, but below the surface,
there are problems - and investors need to be wary.
Lets look at the plus points of buying Nicaraguan land as an
investment:
1. Nicaragua is one of the most Beautiful Countries
in all of the Americas
Nicaragua has beautiful and stunning scenery including:
. Pacific coastline
. Long sandy Caribbean beaches
.
Volcanoes
. Freshwater lakes
. Hills
.
An abundance of wildlife
2. Nicaragua is Democratic and Safe
Nicaragua has a democratically elected government, which is
committed to a free-market economy and eager to attract foreign
investors.
A recent study by the Inter-American Institute on Human Rights
and a survey of police forces in the Americas show that Nicaragua
is the safest country in Central America and one of the safest countries
in the world.
3. Attracting Foreign Investment
In September 1999, Nicaragua enacted the most attractive tourism
incentive law in Latin America - to bring businesses and retirees
into the country. This has led to a boost in the price of land for
sale - and many investors are looking to get on board.
For example, if you want to set up a business, you pay no income
or real estate taxes for up to 10 years.
Nicaragua’s retiree incentive program is similar to Costa Rica's
in the 1980s – and is attracting thousands of expatriates. To be
eligible, you only need to be over 45 and have a monthly income
of at least $400.
The benefits include:
. You pay no taxes on any out-of-country earnings.
. You can bring into Nicaragua, up to $10,000 of duty
free household goods for your own home.
. You can import one automobile for personal, or general
use - duty and tariff-free - and sell it after five years, tax-free.
Plus many more benefits.
It’s Cheap
You’ll pay up to 80% less than you do in the USA, for many goods
and services - and property and land is cheap.
Now all this sounds great - more incentives, a peaceful and
democratic country that’s beautiful - and if you get in early, you
can make a fortune buying Nicaraguan land.
Why the reality doesn’t match the hype
If you’re looking to make money in land that’s currently for
sale in Nicaragua, then keep in mind the following risks:
1. Nicaragua is a poor country - and poverty abounds
The Nicaragua's GDP per capita is #163 worldwide at US $2,300,
whereas Costa Rica's GDP per capita (#81) is 295% higher at US $9,100.
In Nicaragua, kids starve and street children roam. If you think
it’s going to be like other nearby countries like Costa Rica - you’re
in for a shock!
There’s a myth about its new liberal façade – here’s
an example:
Nicaragua is one of the few countries where homosexuality is
illegal. Prison terms reportedly range from three to 20 years.
2. Is it Really Stable?
The Sandinistas have not gone away - and look set to take advantage
of the shortcomings of the right wing ruling party, which is corrupt,
and needs to deal with huge social problems. The Sandinistas won
37.8% of the vote in 1996, 40.4% of the vote in 2000 and 43.82%
of the vote in 2004.
The Sandinistas are no fans of the US, or other democracies
- and may not be so pro foreigner, or pro foreign investment, if
they get into power - they hardly have a track record to inspire
confidence!
The Sandinistas like to nationalize - so your land might end
up with them - with no comeback.
3. Is it Worth the Risk?
Should you invest in a country just because it has cheap real
estate?
Land currently for sale in Nicaragua is cheap - but could get
cheaper! There is an argument for both sides - but investors should
be cautious.
On the surface it looks great but scratch a bit, and it doesn’t
look such a sure fire investment.
You can still make Big Gains Close by
If you buy land for sale in Nicaragua you may get wealthy -
but the established centres in Central America, such as Costa Rica
and Panama, look a far better bet - and land for sale there doesn’t
carry the same uncertainty as land in Nicaragua.
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