InternationalLiving.com report uncovers colonial homes for under $40,000 in the city of Granada, situated along the bank of Lake Nicaragua.
InternationalLiving.com has uncovered a range of good-value properties in the colonial city of Granada in Nicaragua, with prices starting from just $39,000.
An article in the March issue of International Living magazine reveals how a 900-square-foot home, a short stroll from the historic center, is currently on the market with an asking price under $40,000.
Report author and real estate expert Ronan McMahon estimates that typical 2,000- to 2,500-square foot homes in Granada’s historical district range from $50,000 upwards.
High-grade properties are also available in the picturesque city. McMahon uncovered a turnkey 2,500-square-foot property with a pool in an inner courtyard in Granada’s historic district on sale for $160,000.
“Prices today are back to levels last seen a decade ago,” explained McMahon. “The global financial crisis brought any activity in the real estate market to a screeching halt. The market went into free fall.”
McMahon believes that while Nicaragua’s fortunes are already changing, there are still plenty of bargains in the market for overseas buyers: “Confidence is now returning. Yet buyers are very thin on the ground.
“Everyone is looking for a deal. So, bar the odd sucker, only killer deals sell. In real estate, we make our money buying. And there’s nothing like an illiquid time to snag a deal.”
The full report on real estate in Nicaragua, which appears in the March edition of International Living magazine, can be read here.
Meanwhile, InternationalLiving.com is giving retirees an opportunity to test-drive life as an expat in Granada for a month for free.
The live-overseas experts are seeking a candidate willing to share their impressions while road testing retirement for one month in the colonial city.
The prize includes round-trip airfare (for two) to Nicaragua from his or her “home city” in the United States or Canada, a paid-for four-week stay in a furnished home in Granada, $1,500 spending money and additional pay for any articles published by InternationalLiving.com
To enter the “Win Your Dream Retirement Overseas” Competition, applicants should post a video to YouTube (no more than 3 minutes in length) explaining why they want to retire overseas – and why they want to try a one-month test-drive in Granada.
Full details on the competition are available here.
Members of the media have full permission to reproduce the article linked above once credit is given to InternationalLiving.com.
Further information, as well as interviews with expert authors for radio, TV or print, is available on request.
About International Living
For more than 30 years, InternationalLiving.com has been the leading authority for anyone looking for global retirement or relocation opportunities. Through its monthly magazine and related e-letters, extensive website, podcasts, online bookstore, and events held around the world, InternationalLiving.com provides information and services to help its readers live better, travel farther, have more fun, save more money, and find better business opportunities when they expand their world beyond their own shores. InternationalLiving.com has more than 200 correspondents traveling the globe, investigating the best opportunities for travel, retirement, real estate, and investment.
To learn more please contact Internationalliving.com Associate Editor, Carol Barron, tel. (772) 678 – 0287, e-mail: CBarron@internationalliving.com