Dear International Living Reader,

It’s difficult to get permission to build on this lake. Few succeed: Nicaragua’s elite, powerful local business executives, and top political figures. In total, only a handful of homes are scattered around this 4.5 mile-wide, clear body of water.

Thanks to friend and developer Eduardo Latorre, a few International Living readers own a home here, too.

Lake Apoyo, a 15-minute drive from Granada and 45 minutes from the international airport at Managua, is the cleanest lake in all Central America, filled with mineral-rich water fed by a series of underground springs. The lake is so clear, you can see more than 100 feet down.

Eduardo chose to build Norome, his private rental resort project, here.

Norome has everything a great vacation resort should have: waterfront…beaches…warm, healing waters…a restaurant, room service, a lakeside bar, a secluded Jacuzzi next to a manmade waterfall, one of the best massage therapists in the country, sailing, diving, fishing, some of the best bird watching in the world…privacy, safety, and security.

This region is considered the "heartland" of Nicaragua, with rolling green hills, deep lakes, coffee plantations, and the greatest concentration of towns and villages in the entire country. It is the most interesting and the richest spot in Nicaragua, both in terms of wealth and natural resources.

Right now, Eduardo is upgrading and expanding the Norome facilities after consulting with tour companies who book in Central America. Major landscaping is under way, along with a new spa with treatment rooms, an expanded restaurant, a bigger pool, and more. His improvements will make the resort more marketable to tour operators sending tourists from Costa Rica, the United States, and Canada.

The Norome Villas are a private development of hillside homes with views of the lake…plus all the amenities of the resort. As of this writing, there are three of these turnkey units left for sale: one 630-square-foot studio for $79,000; two 2,100-square-foot villas for $159,000 each.

This week, 10 lakefront lots were released on the sunset side of the lake (all with sandy beach). Unlike some of the lots I told you about Wednesday on the Pacific coast (see The Next Costa Rica, Part II) there is no building stipulation. The current price per 1.3-acre lot is $94,000, but if there are any left in two weeks, Eduardo is raising the price to $99,000. One lot is already sold.

For more details on the Norome villas and lakefront lots, get in touch with the International Living office in Nicaragua: nicaragua@internationalliving.com.

Lief Simon
Real Estate Editor, International Living