San Juan del Sur Real Estate: Pros and Cons
San Juan del Sur has emerged as the most important tourism and real estate zone on Nicaragua’s Pacific coast. It’s a beautiful town set on a sweeping half-moon bay framed by dramatic headlands and perfectly orientated to face the sunset. There are a wide range of options for property investors within the town itself, nested in the surrounding hills and on the beaches north and south. So should you take a closer look at what is on offer? Here are the pros and cons.
Sunset at San Juan del Sur
On the positive side of the equation San Juan del Sur investors have momentum on their side. This once sleepy little fishing town has captured the imagination of developers, investors and property groups. And recent years have seen an explosion in new real estate projects and tourism related businesses. Stay a while in town and you’ll find yourself easily drawn into conversations about real estate and investing. It’s a gorgeous area with world-class surf spots, white sand beaches and a rich biodiversity.
The government is investing in the area and improving the local infrastructure. Here are some examples from the last 12 months: A new pedestrian walkway across the estuary has been erected, the main beach road improved and street lighting added, the buildings around the town square spruced up and a new watermain from Lake Cocibolca to the east is currently being laid to boost water supplies. Looking to the future, there are plans to upgrade the port facilities to accept more cruise ships.
San Juan del Sur real estate, and the whole of Nicaragua for that matter, is available at lower prices than equivalent property for sale in Costa Rica or Panama. The cost of living in Nicaragua is also lower than regional averages based on IMF Purchasing Power Parity (PPP) data. This combination is proving very tempting for retirees and real estate investors alike.
On the negative side, San Juan del Sur is located over 2 hours from the international airport in Managua, the capital city. Some analysts expect this to put a ceiling on how quickly the market will grow. They point to the fact that big ticket hospitality brands are rarely found more than 90 mins from the closest airport. There are plans for a local international airport but no work has yet begun on the ground.
Pessimists also point to the marked slowdown the area experienced during the 2008/9 financial crisis. Sales volumes in 2010 are still lower than in the boom years but local reports indicate that inquiries are rising.
The upshot: If you’re interested in Nicaragua real estate and Central American real estate, it makes sense to visit San Juan del Sur and see for yourself.
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