Unlike the more famous San Juan del Sur where land prices have sky-rocket during the last decade, Las Penitas still offer land at a bargain price and beach front properties are still sold for under 25,000 USD now and then. Paying 50,000+ USD is however more common, chiefly because most of the grand villas along the beach belong to affluent families who aren’t hard-pressed to sell.
If you’re okay with living on the other side of main street, i.e. the side where the houses don’t open up directly to the beach, prices drop considerably. Main street, also known as Las Penitas first street, runs parallel to the beach and the public pathways located after each block of villas guarantee easy access to the ocean for everyone. This arguably the address that has seen the most action during recent years when it comes to property development. Here, impressive vacation homes are intermingled with tin shacks and worn down cottages.
If you don’t mind taking a five minute stroll down to the ocean you can do what quite a high number of expats has done these last few years – buy some land a block or two from the beach on one of the side streets that connects to main street. This is the neighbourhood where you will find a majority of Las Penitas subsistence fishermen and their families. Fishing nets hang to dry in the gardens; children play in the street, and don’t be surprised if you meet a sow with her piglets on your way home.
Compared to other Central American countries such as Costa Rica and Panama, construction costs are much less in Nicaragua so buying an empty lot and erecting your own dream home is certainly an option.
You are more than welcome to contact us and we will help you find a suitable property. Just send us an email and we will make sure to find some properties that match your requirements for you to look at when you get down here. We can also e-mail you photographs and information about properties, and assist you in finding a reliable lawyer to help you avoid a lot of problems that might otherwise arise when buying a property in Nicaragua.