Nicaragua – Teetering on the edge of a property boom

The Nicaragua of the 21st century is all the things that most people probably thought it wasn’t – safe, affordable, peaceful, culturally diverse, environmentally stunning and teetering on the edge of a property boom fuelled by foreign interest. Like neighbour Costa Rica to the south, Nicaragua has both Pacific and Caribbean shorelines, a tropical climate and a wealth of natural phenomena from virgin beaches to living reefs and from volcanic chains to dense rainforests. There is however one main difference, Nicaragua’s property prices are 30 to 50% cheaper than Costa Rica’s. Property investors take note.

Over recent years, due to ease of access with flying times from as little as two and a half hours direct, Nicaragua has made a conscious decision to woo the vast retirement and second home market from North America. Developers have made a distinct shift towards turnkey luxury developments with sophisticated services such as first rate golf courses and Spas – but at affordable prices. Seaside Mariana Spa & Golf Resort on the Pacific coastline, one hour’s drive south of the capital Managua, is leading the way in this department.

Covering a mammoth 923 acres, the scale of Seaside Mariana Spa & Golf Resort is quite tricky to comprehend. Property-wise investors can choose from ocean view homes, condo apartments and golf villas as well as some unique hilltop residences plus homes overlooking the Tecolapa River which weaves three kilometres of its course through the resort. Kayaks and canoes will be made available for adventurous types wishing to explore the flora and fauna from its waters. Whilst on the leisure front Seaside Mariana Spa & Golf Resort will count Nicaragua’s only 18-hole Jack Nicklaus signature golf course, the country’s first Wellness Spa, a private beach club with cabanas and swim-up bar, five-star boutique hotel with fitness centre and a Lifestyle Plaza accommodating shops, restaurants, internet cafés, banks, a casino, nightclub and a performing arts venue.

The developers have been careful not to commandeer Nicaragua’s precious landscape without holding high regard for the environment and local community. In fact a very clear mission statement is in place to foster growth, self-reliance and an improved standard of living for the country whilst protecting and preserving the natural assets. The developer is planning multiple programs in education and healthcare as well as projects such as creating soccer pitches. Employees within the resort will be offered full hospitality training and they will have their own community within the resort. Seaside Mariana Spa & Golf Resort will also have a unique on-site cultural museum centred on an active archaeological dig which has discovered some of the oldest artifacts in Nicaragua. Unsurprisingly Seaside Mariana Spa & Golf Resort has the full support of the Nicaraguan Government and incumbent President.

Properties within Seaside Mariana Spa & Golf Resort are built to exacting European standards, setting a benchmark for the area, being careful to match the architecture with the local vernacular. A resale network and rental service will be made readily available to owners ensuring that they get the maximum from their investment. Prospects for capital appreciation are good and off-plan coastal property is expected to rise in value between 20 and 30% each year, particularly as plans are afoot to limit the amount of building within reach of the beach thus pushing up demand for existing product.

Prices for phases currently released start from as little as 254,592 USD for a one bedroom apartment, 317,731 USD for two bedrooms and 740,586 USD for three bedrooms. Three bedroom villas are priced from 685,000 USD. Some plots are also available from 58,000 USD. Finance of up to 70% is available subject to status. Infrastructure is well underway at Seaside Mariana Spa & Golf Resort and the first phase is expected to complete by the end of 2010.

For more information, visit gem-estates.com