The Growth of the San Juan Del Sur Real Estate Business
San Juan Del Sur real estate is gaining the attention of the global community. This is not surprising because the value of properties in the city has appreciated in recent years. The growth in the realty business in San Juan Del Sur is a reflection of the phenomenal improvement in the property business in several areas of Nicaragua such as Tola, Granada as well as in Guacalito. The growth in the real estate value in San Juan Del has paved the way for the development of tourism in the area and other sectors of the city economy. This part of Nicaragua could compare to what is obtained in the other travel spots of the world.
The growth of real estate business in the city did not come as a surprise to anybody. Investors in property have invested a substantial amount in the city. This is possible because of the tremendous improvements in infrastructure. This paved the way for international and local investors to storm the area. All the major roads leading to the city has been repaired. It takes just a few hours to travel from Managua to San Juan Del Sur. This is a journey that usually takes more than three hours when the 140 kilometer road was bad.
Apart from the roads leading to the city, the interior roads within the city are improved as well. Public lights were put in strategic places in many parts of the city. The popular central park has been renovated, the same thing with the town square which was given a facelift. The neglected baseball field was modernized. The drainage system in the city was also rechanneled. Through private efforts the authorities were able to refurbish the municipal sports park which was in a very bad condition. Modern lights were also put in place to accommodate night events. The sitting arena was installed with new things such as fans, basketball hoops and several other things that make it attractive to visitors.
The modernization efforts went across many parts of the city. The beach was reconstructed with the addition of a pedestrian bridge which cut across several areas. The bridge linked residents of the northern part of the bay to the people living on the southern part of it. The bridge which is about 200 meters in length is gorgeously designed to add beauty and value to the town. The port located in the southern part of the city equally received its share of the modernization efforts. Cruise ships are now received here weekly. This is a great boost to the local economy.
Electricity and water supply play important roles in repositioning of the real estate business in Nicaragua. The wind turbine on Lake Nicaragua which is being constructed is to improve power supply across all parts of the country. There are other power generating turbines which are being constructed in different parts of the city. In the same way, a huge water project is ongoing to bring water to every nook and crannies of San Juan Del Sur and many other parts of the country.
The development wonders in San Juan Del sur has attracted the attention of the global estate business. Property taxes are on the increase in the city and the money realized from there is reinvested in the development in its development. The city has gained the attention of tourists from all parts of the world. Surfers worldwide is visiting every day to explore attraction centers in the city where they would spend their annual vacations.
One of the reasons that bring about the transformation of San Juan Del sur is the good policies of the democratically elected government in the country, which is enacting and implementing laws that facilitate investment in Condo business. The foreigners are encouraged to invest in Condo business. To get the attention of the international investors to help build more houses in the city, the government enacted laws that prevented foreigners from paying property tax. This is a great boost to the countries’ economies because it attracted many foreign firms and many of them are investing not only in infrastructural development but also in property development. Many retirees from advanced countries of the world are relocating to Nicaragua because of the liberal law passed by the government that makes that possible.
The property tax excludes the foreigners who invest in real estate in the city from paying property tax on the property for the next ten years. There is also the foreign retiree benefit program which allows foreigners who are up to 45 years of age to be receiving $400 per month. There are categories of people who could receive more. These laudable policies have triggered a huge investment in the property business in San Juan Del Sur. Many American and other foreign investors who want to benefit from this investment bonus are flooding the area investing in the real estate business.
It is now obvious the real reason why the real estate business is booming in San Juan Del Sur. Perhaps, nobody would have thought these things were possible during the period of dictatorship in the country. The place is transformed from a local village to the world destination center for foreign travelers. It is becoming a country where foreign investors would leave their own countries to benefit from the booming condo business.
Historically, the people of San Juan Del Sur are known to be hospitable and very accommodating. The people are naturally fishers as many of them earn their living through fishing. The former fishers are gradually turning to investors in the property business and in tourism. The foreign investment in a condo would have been a waste of time if the local people did not support that initiative.
With the lots of money the country is generating through real estate business in San Juan Del Sur, the economy of the state would continue to grow without limit. The growth is not only witnessed in the property sector, the tourism industry is flourishing as well. The people are better for it. The per capita income is increasing and many locals are getting employment opportunities.