Revealing real estate trends in Central America

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Green building south of San Juan del Sur
2008-02-03 17:40:00
Could we be witnessing the beginnings of a green real estate movement in Nicaragua? On a hillside a few kilometers south of San Juan del Sur on Nicaragua’s Pacfic coast, a green community, completely off-grid, is being born. A team from Earthship Biotecture (gurus in green building from the US) and a local ...
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NAR report on Americans living abroad
2007-11-25 00:22:00
The National Association of Realtors released a report this month that pulls together data and trends on Americans living abroad. This kind of data is hard to come by making this white paper an important contribution to the field. Download the paper here. The data does not include Americans still living in ...
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Fantasy island for sale in Belize - without the price-tag.
2007-08-27 04:55:00
Belize offers some of the most affordable Carribean real estate in the region.  And some of the properties for sale are magnificent.  Have a look at this private island for $650,000. Click here for a Video Tour
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Highest, medium and lowest searches for real estate online
2007-07-25 15:15:00
Central America continues to attract investors and tourists alike.  But not all countries have the same pulling power.  The graph below shows which countries rack up the highest number of searches for real estate online based on the generic country-followed-by-real-estate search phrase.  As you can see, there are more searches made for “costa rica real estate” than ...
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Google maps showing real estate projects on Nicaragua?s Pacific coast
2007-04-27 00:22:00
There are over 100 real estate developments dotted along Nicaragua’s Pacific coast.  Most are located in the southern part of the coastline between El Astillero and the border with Costa Rica with the fishing town of San Juan del Sur emerging as the major investment hub for the region.  The “Tola Riviera” lies within this southern stretch ...
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Rasing the bar for golf real estate in Central America
2007-03-25 21:18:00
Nicaragua’s Seaside Mariana Spa & Golf Resort is the site for a Jack Nicklaus Design 18 hole championship golf course and five-star flagship resort.  Seaside Mariana is set to usher in a new level of luxury ocean front living and will put Nicaragua (and Cent ral America as a whole) firmly on the high-end resort destination map.  The first ...
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Risk and reward for real estate in Central America
2007-03-21 21:46:00
The real estate opportunities available in Cent ral America span a range of risk / reward profiles.  There is real estate on offer to suit different investment goals.  Properties that are good candidates for short term capital appreciation exist as well as properties in lower risk environments with the promise of an immediate rental income.    Of course ...
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Raising real estate industry standards across Central America
2007-02-21 14:25:03
National real estate associations exist for most counties in Central America .  And, given the sharp growth of real estate investment in the region, these bodies seem to be getting more active. There are some big ticket items on the table not least the question of licencing, code of ethics and ultimately (maybe) development of an MLS.   The associations are as follows: The Costa Rica Chamber of Real Estate (CCCBR), Costa Rica Global Association of REALTORS® (CRGAR), Camara Salvadoreña de Bienes Raíces (CSBR), Asociacion Nacional de Agencias de Bienes Raíces de Honduras (ANABIR), Camara Nicaraguense de Corredores de Bienes Raíces (CNCBR), Asociacion Panamena de Corredores y Promotores de Bienes Raices (ACOBIR), Camara de Corredores de Bienes Raices de Guatemala (CCBRG) Association of Real Estate Brokers of Belize Federation of Real Estate Associations of Central America and the Caribbean (FeCePAC) - an umbrella organisation that ties the other bodies together with a focus on integrat...
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Belize real estate: a slow burner for 2007 or are things about to get hot?
2007-02-18 02:23:01
A recent profitability report released by Amerblamb concludes that the Belize real estate market will be a slow burner in 2007.  To quote the report:   “To us Belize is a dichotomy, on the one hand it has everything going for it - for example it?s stunningly beautiful, it?s a former British colony where English is still spoken and where the legal and political systems are still based on their British equivalents and are transparent, it is politically and economically stable, property prices are relatively cheap, the cost of living is low and transport links to North America are good.  But on the other hand Belize is not achieving its potential as a major tourism destination, its not managing to attract enough retires or wealthy expatriates despite various highly attractive tax sheltering incentives and as a result its property market isn?t nearly as exciting as it could be.  Maybe we?re being too hard on Belize, but really we had hoped for more and going in to 2007 Belize real...
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Anyone for fractional real estate in Central America?
2007-02-18 02:23:01
It isn’t easy to find fractional real estate for sale in Cent ral America .  Not right now.   But the market is steadily evolving and fractionals are destined to become a hot trend in future years particularly in the vacation home sector.  For fractional buyers it is often not a matter of being unable to afford a vacation home, but a case of not wanting the hassle and expense of maintaining a home 52 weeks of the year when they are likely to occupy it only for two or three weeks each year.  It is simply a matter of cost-justifying the limited use of their home, especially if they have multiple second home/vacation properties.  At the same time, buyers do not want to compromise on questions of value, equity and other benefits of second-home ownership.  That is why, unlike time share, the fractional real estate product has evolved to include fee simple deeded ownership complete with title insurance.  This ownership can be passed down through the generations in perpetuity or resold...
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9 reasons why investors are choosing Central America real estate
2007-02-18 02:23:01
The word is getting out and recent years have witnessed a massive upsurge in investor interest in real estate in Cent ral America .  We have analyzed the investing pattern of real estate investors and identified 9 main reasons why investors are choosing Central America: Property prices across the region are affordable and below levels in North America and most European countries. Consistent growth in real estate prices in the past few years and a strong foundation for further appreciation particularly in ?up and coming? areas. The region boasts areas of outstanding beauty even when judged on a world scale. Governments in Central America are proactively promoting tourism and real estate dollars are following close behind. The demographics are set for growth as millions of baby boomers are now starting to retire and turning to non traditional retirement destinations ? the proximity of Central America to the mainland is a key factor. US real estate investors armed with a mountain of equ...
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Real estate and tourism are inexorably linked
2007-02-18 02:23:01
Tourism trends are useful predictors of real estate sales.  This is particularly the case where tourists and real estate investors are both traveling a long distance from their primary residence and staying for an extended period of time. Of course, a second home purchase is a larger discretionary payment than a vacation with many more factors needing to be taken into account.  But at a general level there is considerable overlap in the attributes that second home buyers and holiday makers are looking for. You know how it goes.  You go on holiday.   You find a charming little fishing village and spend two glorious weeks relaxing and doing fun stuff.  On the last day you look at realtors window and then buy a property or at least start looking.  Real estate and tourism are inexorably linked. We are seeing this phenomenon all over Central America.  Key tourism areas are also those generating the highest levels of real estate activity.  Examples are Granada and San Juan del Sur in Nica...
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Buying in Central America
2007-02-18 02:23:01
By Amy Gunderson for the New York Times When Steve Carl steps out of his three-bedroom beach house in Ambergris Caye in northern Belize, snorkeling at one of the largest barrier reefs in the world is just a short swim away and going to dinner means leaving footwear behind. ?Everything is barefoot here,? Mr. Carl said. ?There are fantastic restaurants nearby and I can walk in there with bare feet for white-linen service.? Mr. Carl visits his vacation home in Belize with his family four or five times a year. The cost of labor in the country is low enough that he and the five other homeowners in his community can house two full-time caretakers in the development to keep watch over the homes and manage renters. Also, property taxes are ?virtually non-existent,? Mr. Carl said. Low real estate prices combined with the allure of life at a tropical retreat have long drawn second home buyers to Costa Rica, but increasingly other countries in Cent ral America , from Panama to Belize and even Ni...
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Are Matagalpa and Jinotega Nicaragua?s answer to Panama?s Boquete?
2007-02-18 02:23:01
Savvy investors are always on the look out for emerging destinations - especially those with a twist on a familiar theme. The Inland Mountains region of Matagalpa and Jinotega could be just that. The area shares many of the characteristics of Boquete - probably the hottest spot for real estate in the Panama after Panama City - such as enchanted ?hidden? valleys, mists that shroud the mountaintops, a perfect spring like climate, rushing rivers, flowers and high quality coffee.  This is where you come to commune with nature, hike, fish, cycle, kayak and recharge your senses in a setting of peace and tranquility. Prices in the area are still 1/4 of what you will find in Panama and around 1/3 of property on Nicaragua ?s Pacific coast. Read more on the mountainous, coffee growing areas of Nicaragua.
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How much does it cost to live in Central America?
2007-02-18 02:23:01
By drawing on purchasing-power-parity (PPP) data released by the IMF, we can calculate what US $1,000 “adds up to” in various countries across Cent ral America .  According to Wikipedia ”Purchasing power parity (PPP) … is the method of using the long-run equilibrium exchange rate of two currencies to equalize the currencies’ purchasing power. It is based on the law of one price, the idea that, in an efficient market, identical goods must have only one price.” So the theory behind PPP is that exchange rates should adjust to equalize the price of a basket of goods and services around the world.  In the United States $1,000 is the equivalent of, well, $1,000.  But in Nicaragua, for example, it rounds up to a hefty $4,144, see below. We have to be careful not to draw too much from these averages as they don’t apply to all product categories.  But for day-to-day goods and services your dollar will stretch further in Central America.
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Central American countries make up 4 of the ?6 hottest markets for second h
2007-02-18 02:23:01
The four countries are Belize, Honduras, Mexico and Panama.  Costa Rica also gets a mention as a destination attracting real estate investors.   According to State Department estimates, some 6.6 million America ns live abroad - about 2.2% of the US population.  The Brits are still far ahead in relative terms with 10% of the nation’s population living as expatriates.  Read the full article.
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7 hot buttons that underpin the demand for real estate in private residenti
2007-02-18 02:23:01
What emotional drivers are you responding to when you buy real estate in a private residential or resort community?  the aspiration to be in an attractive location or interesting setting the desire for a change of scene, to unwind and experience a change of pace the motivation to be stimulated and entertained through recreational interests such as diving, hiking, fishing, water sports and so on the expectation for rental income and capital growth the enjoyment of local culture and environment the sense that everything is being taken care of the desire to belong to a community of like minded individuals the wish to fulfill an escapist dream When assessing real estate offered in private residential and resort communities, don’t let emotions override your decision making.  Our own starting point is to use the criteria in the box below.  Yes, it may be a bit cut and dry but it is worth pausing to consider these factors as they well help you to determine the overall positioning o...
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Real estate goes beyond the Internet listing
2007-02-18 02:23:01
By Nancy Beth Jackson When shopping for real estate across borders or across continents, how would you like to tap into the local news and gossip, have a virtual tour of the area and chat with potential neighbors before buying a ticket for a personal visit? Just as Web listings transformed international real estate a decade ago, new Inter net tools are making even more information available ? and not just from real estate agents. Increasing numbers of potential buyers and investors are exchanging information in online forums, downloading video and audio reports, tailoring Internet maps to their needs and reading blogs for news and opinion. And what is in cyberspace today is only the beginning, says Mark Lesswing, chief technology officer and senior vice president of the Chicago- based National Association of Realtors, which recently entered its first international joint venture with its Mexican counterpart. “What we’re going to see goes beyond listings,” he said. &#...
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Panama real estate: secure, exotic and diverse
2007-02-18 02:23:01
Panama is at the top of our list for the most secure, diverse and promising real estate destination in the region. Security - Panama provides real estate investors with a strong sense of security based on its dollar based economy; stable political situation; transoceanic Canal, and its standing as a regional headquarters for many multinational corporations. Panama has established a facilitative taxation framework to encourage foreign investment.  For example there are no real estate taxes for twenty years on any new construction and the tourism master plan exempts tourism related businesses from income or capital gains taxes for twenty years and allows the importation of a wide variety of goods duty free.  Financing on real estate purchases is more widely available than in other Central American countries given Panama?s position as a international banking centre. Diversity - Panama combines a sense of the first world with an experience of the exotic. Within its borders visitors and ...
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Real Estate: Nicaragua Optimism Despite Ortega
2007-02-18 02:23:01
by Chronicle Staff Despite a new, leftist government led by President Daniel Ortega, executives in Nicaragua ’s growing real estate industry remain bullish. “The real estate market outlook continues to be positive,” says Claudia Gonella, director of the Nicaragua offices of U.S.-based real estate agency Coldwell Banker.”We are selling well out of both of our real estate offices, at approximately the same rate as this time last year.” Timothy Thomas, owner and broker at ReMAX Monteverde, agrees. “I think [the government] will be OK,” he says. “Our investors met with Daniel Ortega after the election and he wasn’t the Danny Ortega of the 1980s, that’s for sure.” Nicaragua is one of the key growth markets in Latin America outside Mexico for U.S.-based First American Title Insurance Company.  “The market has not slowed down as people seem to be optimistic about Ortega staying the course when it comes to investments in...
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Don?t assume you can finance your real estate purchase
2007-02-18 02:23:01
In many Central American countries it can be very hard to obtain a loan from a local bank for real estate investing and, where it is possible, the interest rates are not competitive to the US and terms can be unfavorable.  Panama stands out in this regard as competitive financing is comparatively easy to obtain.   In most countries you can normally find private lenders offering loans based on refinancing US assets and an ever increasing number of developers are offering owner/developer financing although this number is still small in absolute terms.
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Ortega back in power in Nicaragua
2007-02-18 02:23:01
By Greg Brosnan MANAGUA (Reuters) - Cold War leader Daniel Ortega returns to power in Nicaragua on Wednesday, giving Venezuelan President Hugo Chavez a new ally as he tries to steer Latin America to the left and away from the United States. Ortega, who first took power in a 1979 revolution and then led a Marxist government for 11 years while fighting a brutal civil war against U.S.-backed Contra rebels, completed a remarkable comeback by winning a November presidential vote. The balding 61-year-old says he is still a socialist but has dropped many of his radical economic policies from the 1980s, saying he has learned from his mistakes. Ortega promises to respect private property and the free market this time around even as he fights extreme poverty. He preaches reconciliation and has gained the trust of the Roman Catholic Church and some former battlefield foes.  Click here for the full article.
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California and Florida lead the way for buyers of real estate in Central Am
2007-02-18 02:23:01
Most of the foreign buyers for real estate in Central America are from the US - with California and Florida leading the way.  The graph adds the detail to this trend.  It includes not only buyers but people researching Central American real estate markets over the internet.  The last two years have seen a slight but perceptible shift with more buyers appearing from Europe and South Asia.  Many of whom are likely to have business interests in, and/or spend time in, the US.
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