Okay, not totally out but out for potentially a little while!
I heard from the guys down at my favorite Nicaraguan beachfront development just a couple days ago and they informed me that of 42 condos in the new condo-hotel being built, only 7 are remaining. This is a big deal. Why? Because once these are gone, the next offering won’t be until the next round of building is scheduled, which includes two-bedroom villas. Why that matters is for a few reasons:
– The villas are priced substantially higher than the existing condos
– A significant increase in current prices is anticipated for when the roof is constructed on the condo-hotel, which is scheduled in happen in the next few months. This price increase will affect all properties at the development.
– Also anticipated to raise current prices is the main road to the development which is currently getting paved. Until now it has been a dirt road, as are most roads to the coast in Nicaragua, but the pavers are out and just this doing alone is going to increase demand for the development.
– General demand has gone up ten-fold for these properties just since the international hotel partner joined on, and demand continues to grow. As seen by only 7 condos remaining.
Moral of the story- if you have had any thoughts about possibly buying in Nicaragua, now is the time. There is little available inventory left until the next round of building is scheduled and between now and then, prices are scheduled to jump significantly. Some pretty cool incentives are being offered with purchases, including first crack at trading your condo for one of the villas, free nights per year at the development in the existing buildings until construction is completed, and golf membership discounts.
Due to the sudden depletion of available inventory, an (unexpected) investors’ tour weekend is being scheduled for November 6-10th. Seriously, if you have had any thoughts about checking out Nicaragua, let me know. That trip is the time to do it! I don’t expect any condos to be left after that weekend.
Let me know if you are interested in attending the tour that weekend, or if you are interested in more details. Seriously, this is a big deal! I have now been to Nicaragua five times in two years and I’m dying to go again. I’d love to meet you down there.
Email me for more information- firstname.lastname@example.org
Did I mention this property has the #68 surf break in the world?