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Nicaragua In the News

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Nicaragua's Real Estate Market is Improving

There seems to be consensus among real estate professionals in Nicaragua that the worst is basically over. While we are far from having returned to the peak of about two years ago, most sales agents agree their sales are picking up, they have more customers and clients who are actually signing contracts, making down payments, and closing deals. Prices are somewhat depressed, especially in the higher end properties. Lower end properties and anything that's a really good deal in terms of price is getting snatched up quickly and those kinds of properties don't stay on the market for long.

According to one real estate agent ... “Sales are up 20% over the last quarter of 2008” or something like that. "We have about 60% more sales under contract this quarter of 2009, than we did in the same quarter of 2008. When the first stock market dive occurred in late 2008 and early 2009, not only were we not making sales, but we had clients backing out of sales that were already under contract. NOW EVERY DAY WE ARE GETTING MORE BUSY."

And another ... "The market is still slow for us, half the sales of last year. We are seeing more people starting to come back, but at the moment many of them are just looking, getting ready for maybe a future purchase. I personally feel the situation will improve further and we will see more sales early next year."

According to another agent ... "Things are picking up… there are a lot of good deals to be had, and a lot of offers being thrown around. We are only able to turn about 30% into sales however. but overall a step in the right direction."

The consensus is it is still a buyer's market and now is the time to buy. Expect prices to start climbing again early next year.