#1 Budget Retirement Choice
Nicaragua has taken a beating these past few years. The whole Central American region has been affected by the global recession, but Nica has been hit harder than its neighbors.
Historically, the majority of foreign property buyers in this country have come from the United States and Canada, most of whom leveraged property assets back home to find the money to acquire Nicaraguan property assets. That hasn’t been a realistic option for some time now, meaning Nica’s buying pool has all but evaporated.
In addition to fallout from economic and financial events in North America, Nicaragua is also fighting the stigma of Daniel Ortega. When the country re-elected the Sandinista president, they scared away the investors, the would-be retirees, even, for a while, the tourists. The tourists have been returning, and, slowly, the retirees, as well. But the property investors and speculators are still kept at bay by the Ortega Factor.
Certainly, politics in this country is a wild card. Ortega seems intent to run for re-election again next November (even though, technically, a consecutive term is unconstitutional). The main opposition party candidate is former President Arnoldo Aleman…of whom we are also not a fan.
What does all this mean for the potential property investor in this country? Who knows. I’m personally well invested in Nicaraguan property (and contentedly so, thinking long term). That said, I wouldn’t put big money into this country today.
Remember, though, that we cover two beats–not only investing, but also living overseas, and, as a potential place to relocate or retire, I’d say Nicaragua makes more sense right now than ever. For one important reason:
This land of lakes and volcanoes, boasting a long Pacific coast and two of the oldest cities in the Americas, Granada and Leon, both colonial towns with shady plazas and centuries-old Spanish-colonial architectural gems, is, as you read this, a downright cheap place to spend time.
Beautiful countryside, great beaches, an interesting history, and, since last year, a new-and-improved foreign retiree residency program…all available now at seriously bargain-basement prices.
It’s for this reason, primarily, that, as I reported last week, Nicaragua is at the top of my list of World’s Top Retirement Havens for 2011.
In that context, we intend two things:
First, we’re going to bring you more and more in-depth coverage of opportunities for living and retiring in this country that has captured my imagination since my first visit nearly 20 years ago.
And, second, we’ve put a Live & Invest in Nicaragua Conference on our events calendar for August 2011.
Meantime, tomorrow, I want to tell you about a particular Nicaragua lifestyle opportunity I’ve learned about from a fellow reader.