Nicaragua revives Costanera highway project

Article Source: BNAmericas

Photo Source: La Prensa Nicaragua

By Angeles Rodriguez – Wednesday, January 25, 2017

The Nicaraguan government will launch construction of the Costañera del Pacífico highway in the next few weeks to boost the country’s tourism sector, vice president and first lady Rosario Murillo told reporters.

La Costañera Carretera Nicaragua

The 131km highway will stretch from the northern to the southern border of the country, helping connect main tourist areas located along Nicaragua’s Pacific coast, such as the beach resorts of San Juan del Sur, El Naranjo, Ostional, El Coco, La Flor, Marsella, Las Maderas, Majagual, Guacalito de la Isla, El Gigante, Tupilapa, Huehuete, Casares, La Boquita and Masachapa.

All the details regarding investments and providers, as well as the duration of the project, will be disclosed soon by President Daniel Ortega, local press reported.

“We will begin to work on the first stretch of the highway within the next few weeks,” Murillo said. “This project will help us attract investment, create more jobs, and improve the wellbeing of Nicaraguan families.”

LONG-DELAYED PROJECT

The project to build a highway along Nicaragua’s Pacific coast dates back to the administration of former president Enrique Bolaños in the early 2000s, according to local daily El Nuevo Diario.

During its first term, the Ortega administration was planning to award a 20-year concession to build and operate the highway to an Italian consortium. At the time, the estimated investment for the project was US$200mn, according to the paper.

Back in October, after congress approved a law to regulate public-private partnership contracts, the government presented a list of projects worth US$5.2bn that it said would be prioritized for investment, including the Costanera highway.

The list is part of a 2017-2021 investment and development program, which the government presented to local and international investors, foreign governments, and financial institutions.

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Pellas Airport Tola EsmereldaTranslated from Notipellas – July 22nd, 2014

A subsidiary business of the Pellas Group, ‘Corporacion del Sur,’ with the backing of INTUR (Nicaraguan Institue of Tourism), the technical support of the EEAI (Business Administration of International Airports) and the INAC (Civil Aviation Institute of Nicaragua) has started the first phase of construction of the new airport ‘Aeropuerto Costa Esmeralda’ (ACE).

Located in the heart of the touristic zone known as ‘the South Triangle,’ comprised of the colonial city of Granada, Ometepe Island & San Juan del Sur, it’s estimated that in the next 15 years the airport will increase tourist traffic by 300,000 passengers annually, countrywide.

The airport, located 17 kms. from the town of Tola, along the Salinas Highway, will initially have a 1,525 meter long airstrip with the possibility of extending the airstrip to 2,500 meters and capacity to receive 50 passenger planes.

The airport terminal will be just under a hectare in size and will initially have an area for disembarking passengers, retail, a baggage handling office, a place for the crew to rest and a refueling area.

There is already interest from local carriers and business owners to open a route between Managua, Costa Esmeralda and Corn Island.  Following the procedures established by INAC, the airport may receive flights from outside Nicaragua.

The construction phase of the airport will generate 96 direct jobs and up to 300 indirect jobs during its operation, scheduled to begin early next year.  Once construction is complete, between 30-40 direct jobs and 120 indirect jobs will be created.

The estimated cost of the airport is US $12.6 Million.

This project will have a catalytic effect, not only for the tourism industry in the area, but also in the economic development of the surrounding communities and related services such as ground transportation, travel agencies and food & beverage services, just to name a few.

The airport will further propel the Emerald Coast and Nicaragua as a legitimate international tourist destination.

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With an expansive Pacific Ocean coastline, it is easy to find a great beach house, either to use as an investment or to use as your primary home. Nowhere else in the world can you find a beach house for such a great price and with such unadulterated and pristine views of the Caribbean Sea or the Pacific Ocean. Both of which contain warm, beautiful blue water, which make them perfect not just for a vacation home, but also for investments and rental properties. Before you jump in a purchase a beach house, however, there are a few tips you need to consider.

Consider location. The best place for a beach house is going to be about two and half hours from the nearest large city. This will ensure that you are not constantly inundated either with locals or with tourists, but rather that you have a fairly quiet and private beach setting. The beaches in the municipalities of San Juan del Sur and Tola are ideally located! They may feel a little far from the metropolitan areas, but once you’re living in your beach house, you will prefer it that way.

Consider the beach. If you are going to purchase a house and then rent it out, you are going to want to look for a beach that caters to the kind of clientele you want to bring to your rental property. Look for beaches that have great outdoor activities, such as fishing, spear fishing, and surfing, great activities for children and adults alike.  It’s not difficult to find a beach that offers all of this in Nicaragua, but each beach is going to be a favorite among different kinds of people. Make sure the location you select caters to the people who will want to rent your property.

Find the right house. The properties you are most likely to find in Nicaragua are reasonably sized, seaside houses. Giant houses and very small bungalows generally do not see as much traffic as a reasonably-sized house. There should also be storage areas, or ‘owner lockout areas’ within the homes. This would enable the owner to store their beach and vacation items with ease, so they wouldn’t have to transport so many things every tiem they came for a visit. It is also nice if they have an area outside to entertain.

If you are going to be renting the property, keep in mind that houses within a twenty minute walk of the beach or town (about a mile), homes on a surf break and beachfront homes have the best performance record. Once you pick the right place, be patient. It can take some time for you to start seeing significant returns on your beach house investment.

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Financing in Nicaragua

Seller Financing in Nicaragua

Times, the global real estate market and Nicaragua have all changed – welcome to the new and improved Nicaragua Real Estate Marketone with financing!!

Today in 2016 there are more than a handful of developments that are willing to finance raw land, there are even a few that are willing to finance an ocean view home!  Lets not forget about the resale market.  The resale market has become quite attractive as many property owners bought property in the area before the recession and are willing to offer their own financing terms!

If you’d like to learn about financing opportunities along the Pacific Coast of  Nicaragua, be sure and contact us by filling out the form below.  One of our representatives will be with you within 24 hours.

Brisas del Pacifico

Brisas del Pacifico Lot 6 - 3 of 6

Brisas del Pacifico offers you a rare collection of lots and condo sites right above San Juan del Sur. The project has 61 lots with a spectacular view over the bay of San Juan del Sur, the distant views of the Santa Rosa National Park in Costa Rica, and Nicaragua’s Pacific Coastline.  Paved roads, drainage system and access to all basic services are provided by the developers at Brisas del Pacifico.

Last but not least, Brisas del Pacifico is unique to all other projects in the area due the fact that its located in the foothills above San Juan del Sur.  You’ll never have to stray to far from home to take advantage of the amenities and conveniences of town, just a stroll down the hill!

3 Year Financing Offer on Custom Home Lots at Brisas del Pacifico:

  • 5% Interest (Effective APR)
  • Quarterly payments (12 Total)
  • 50% of Purchase Price Initial deposit

 

El Encanto del Sur

'La Cascada' Views, Phase Two of El Encanto

El Encanto del Sur Development plan meets the great diversity of terrain with phases that will offer varied lot sizes, building plans that fit into each special contour of the land, and community facilities such as tennis courts, pools and hiking trails available to all residents and guests.  With Lots starting at only $30,000 nestled in the eco-friendly hills of San Juan Del Sur, there is no reason you can’t start building that affordable dream home you have been imagining.

El Encanto is an emerging coastal community only a short drive from the town of San Juan del Sur, Nicaragua, and it’s many restaurants and other attractions. The land, almost 350 acres, begins just outside of town and wanders to the very top of the ridge, revealing unparalleled views of the Pacific on one side and the twin-volcano island of Ometepe on the other.

Whether you’re looking for a vacation spot, a permanent home down the line or just a good investment, El Encanto will have the services and infrastructure to make it happen.  Available financing and First American Title insurance, turn-key packages with preferred architects and builders when it comes time to build your home, hiking trails and community facilities – all the things needed to make your Nicaraguan experience truly special and stress-free.

5 Year Financing Offer  for Custom Home Lots at El Encanto del Sur:

  • 5.9% Interest (Effective APR)
  • Quarterly payments (20 Total)
  • 20% of Purchase Price Initial deposit
*Financing Offer on lots over US $60,000 

 

Cala Azul

Bay at Cala Azul

Cala Azul Oceanfront Resort & Hotel will provide a truly unique experience for the investment-minded owner or vacationer and is just a ten minute drive from the historic fishing village of San Juan del Sur, along the Nicaraguan Pacific coastline. The resort has been designed to live in harmony with, and reflect, its extraordinary setting. Current offerings include custom building lots with ocean views and a limited number of turnkey, private residences.

Four custom homes are currently constructed at the development, and a handful more are planned by the end of 2016. This is your chance to get the property of your dreams, at a fraction of the cost at other comparable developments.  Custom home lots starting at US $90,000 – Financing available!

Financing on Custom Home Lots at Cala Azul:

  • 25% deposit, 3% per month for 25 months, zero interest, or
  • 0% deposit, 2% per month for 50 months, 5% interest

 

Colinas de Miramar

Colinas 11D-4

Located along the road heading north of San Juan del Sur  (known as ‘La Chocolata’) this development is perfectly situated in the eastern foothills of San Juan del Sur. Colinas de Miramar has the best of both worlds: walking distance from town and the amenities of San Juan del Sur while being surrounded by nature and big Pacific Ocean views.

Utilities have been installed to the development and custom home construction has started.  Colinas de Miramar is unique as it is one of the only developments in the immediate San Juan del Sur area that is walking distance to town and the beach, and does not feel or hear the hustle and bustle of town.

Financing Opportunity at Colinas de Miramar:

  • 6% Interest (Effective APR)
  • 2-Year Term
  • 25% Down Payment
  • Quarterly Payments
*only applicable for lots US $100,000 or greater
 

CantaMar de Yankee

Playa Yankee Pics (10 of 37)

 CantaMar de Yankee is located in the mountainsides behind Playa Yankee, 12 kilometers south of San Juan del Sur.  The development offers ocean view lots with enormous views of the Pacific Ocean and Surf at Playa Yankee.  There are over one hundred custom home lots at the development, each of them with direct access to the beach and surf.

Yankee Beach is known for great surf. Surfers enjoy a left wedge break that barrels on occasion, a beach break near the middle of the beach, and a right point break that sometimes breaks on the northern end of the beach.

Financing Opportunity at CantaMar de Yankee:

  • 5% Interest (Effective APR)
  • 3-Year Term
  • 20% Down Payment
  • Quarterly Payments

Rancho Santana


Rancho Santana Las Dunas

Financing Opportunity at Rancho Santana:

  • 7.25% Interest
  • 3-5 Year Term (may extend to 7 years, special interest rate applies, inquire here)
  • 20% Down Payment
  • Quarterly Payments