Docstoc

Choose Your Nicaraguan Paradise

Document Sample
Choose Your Nicaraguan Paradise Powered By Docstoc
					     Choose Your
 Nicaraguan Paradise
The 15 Best Lifestyle Buys in Nicaragua
              Right Now




    Prepared by the staff of International Living




                                                    1
                            Contents
Map of Nicaragua

Foreword

The 15 Best Lifestyle Buys in Nicaragua Right Now:

   1. Apanas Lakes

   2. Arenas Buccaneer Point

   3. El Dorado

   4. Coco Beach

   5. Cumbres de Montecristo

   6. El Cafetal

   7. Gavilan Beach

   8. Gran Pacifica

   9. Las Fincas

   10. Los Perros

   11. Norome Sunset Lots

   12. Rancho Santana

   13. Santa Rosa

   14. Villas de Palermo

   15. Vistalagos




                                                     2
Map of Nicaragua




                   3
                              Foreword
Dear Reader,

People ask me all the time, “What’s the best property for me to buy in Nicaragua?”
Unfortunately, there’s no straightforward answer.
Everyone has his or her own specific needs, wants, and desires. You might value privacy
above anything else, and opt for a secluded, private beach house. Or, if you’re the type of
person that thrives on community spirit, a condo in a small beach town may be just the
ticket. You might want to buy land now and hold onto it for later. Or maybe you’d just like
to build your dream home…and put down roots in a sunnier clime.

Whatever your intentions, as a buyer in Nicaragua, you’ll be spoiled for choice.
This guide has been prepared to help you choose the BEST PLACE for you and your family.

When we set out to produce this report, we intended to bring you what we believe are the top
10 developments in Nicaragua, but because the country is developing at such an exciting pace,
we found it difficult to keep to 10…so, we’ve added a few extras. We hope that one of them
will be perfect for you.
To help you compare projects, we’ve used the same categories to present each development:


• Natural resources
• Ease of access
• Existing infrastructure
• Existing amenities
• Planned infrastructure
• Planned amenities
• Access to recreation and entertainment
• Nature recreation available
• Development planning
• Price
• Turnkey building program
• Rental program
• Maintenance program
• Annual cost of property ownership
• Building covenants
• Security
• Title insurance
• Beach access
• Available lot/unit types
• Vertical construction
• Proximity to health care and medical facilities

Is beach access essential? (Do you want the ocean literally on your doorstep?) Is the
availability of first-class health care critical? Do you want to be close to all the amenities you
enjoy back home…or would you rather escape to a more tranquil, laid-back way of life? Take
some time to think about which of these factors are most important to you.




                                                                                                 4
Best of luck!

Sincerely,

Joe Rosko
Nicaraguan Editor, International Living

P.S. When you finally determine which development makes most sense for you—or if you’d
just like more information on these properties—don’t hesitate to contact Sharon Hogan, our
Nicaraguan Real Estate Liaison, tel. toll free at 866-376-9727, or by e-mail at
http://www.il-ireland.com/il/questionnaire/29-03-06/.


Important Note: By way of full disclosure, we want you to know that International Living
receives commissions from sales at the developments featured in this report.




www.InternationalLiving.com




                                                                                           5
1) Apanas Lakes
…this spectacular lake-front, mountain paradise near the town of Jinotega offers
year-round cool climate year-round.

 Located on the shores of magnificent Lake Apanas in the Northern Sierras of Nicaragua,
this development offers spacious half-acre lots surrounded by the wonders of nature.
Situated on a 20-square-mile lake and among an organic coffee plantation, this
spectacular project offers privacy, five-star amenities, exciting recreational activities and
first-world infrastructure.

Natural Resources: Lake, forest, wildlife, and a ranch with horses.
Ease of access: From Managua and the International Airport: approximately two hours.
Currently, a highway is under construction that will cut the trip to about one-and-a-half
hours. There is also an airstrip five minutes from the property. Apanas Lake is 15 minutes
from the nearest town which has several fine restaurants, a hospital, pharmacy, several
grocery stores, video rental, and everything you should need or want.

Existing infrastructure: Electricity and water, not linked to the lots. Access
road/highway to the property. Ranch home that will temporarily serve as clubhouse and
sales office.

Existing amenities: Temporary club house and horses.

Planned infrastructure: Underground electricity and water, paved streets, drainage,
individual septic tanks.

Planned amenities: Clubhouse with heated infinity pool, jacuzzi, indoor and outdoor
dining areas, several gardens and stables, a spa, business center, pier and water sports
center, hiking and horse trails, kayaks, canoes, paddle boats, one motor boat with fishing
guide available.

Security: Gated community. 24-hour security.

Access to recreation/entertainment: A short 15-minute ride to the nearest town of
Jinotega will offer several restaurants and bars, discos and video rental.
Nature recreation available: Kayaking, Motorboating, Canoeing, Paddleboats, Fishing,
Hiking, Mountain Biking, Bird-watching, National Parks and Reserves, Photography.

Development planning: Currently, seven phases are planned, with an overall 400 to 500
lots available.

Price: Phase 1 prices will start at $24,900, and also include several premium lots at
$64,900. Average lot price (with fantastic lake view) is $39,900.




                                                                                             6
Turnkey building program: Yes, soon there will be two models available: (1) Chalet
and (2) a Villa. Also on the plans are custom homes. Prices will be about $100 per square
foot.

Rental program: Yes

Maintenance program: Yes

Annual cost of property ownership: Property tax estimated to be $225 per year. HOA
in 2006 will be approximately $250.

Building covenants: Available upon request—these include height restrictions, setbacks,
as well as an architectural control committee to assure houses meet our requirements.


Security: 24-hour security, seven days a week
Title insurance: Yes

Beach access: Yes, almost a mile of lake coast.

Available lots/units: Currently 58 lots available in Phase 1.

Vertical construction: Currently, reception area at entrance, temporary clubhouse.

Proximity to healthcare/medical facilities: Local hospital is 15 minutes from the
property in town of Jinotega. Airfield will allow for emergency evacuation.

For more on Apanas Lakes contact Sharon Hogan, our Nicaraguan Real Estate
Liaison, tel. toll free at 866-376-9727, or by e- mail at http://www.il-
ireland.com/il/questionnaire/29-03-06/




www.InternationalLiving.com




                                                                                        7
2) Arenas Buccaneer Point
...alongside the Pacific Coast; in the southern region of Tola

Arenas Buccaneer Point represents the best home/lot package deal on the Pacific Coast.
With views for miles along the coast—you can even see Costa Rica—it’s a truly spectacular
property. Preservation of vegetation and trees is a priority, allowing privacy from other
homes nearby. (That’s pretty unusual in this area.)
El Gigante beach—a crescent-shaped white-sand beach perfect for swimming and sunning—is
a short walk away. At Buccaneer Point, you are guaranteed privacy…and yet you’re next to
the village of El Gigante, with its restaurants, bars, small grocery store, and fresh lobster and
shrimp.

Natural resources: Beaches, wildlife, estuary, ocean.

Ease of access: To airport/capital city: two hours and 15 minutes. Paved road to within 9.5
miles of project; well maintained dirt road last 9.5 miles. To nearest town with bank and
grocery, Rivas: 30 minutes; dirt road 9.5 miles, then paved to town.

Existing infrastructure: Dirt roads in main portion of project, stone-paved golf cart trails
to some areas. Underground water and electricity to some areas.

Existing amenities: None at present.

Planned infrastructure: Paved roads with stone and pavers to parking lots near houses.
Slate-paved golf cart trails to homes to be completed; underground electrical and water to be
completed to all phases; wireless Internet.

Planned amenities: Master Plan contemplates clubhouse with snack bar, pool, spa, marina,
shops, dude ranch, condo-hotel.
Access to recreation and entertainment: Adjacent to fishing village of El Gigante with
restaurants and bars, fishing excursions and charter boat trips. San Juan del Sur is one hour
away with more restaurants, bars and a dive shop.

Nature recreation available: Fishing, hiking, surfing, swimming, birdwatching.

Development pla nning: Detailed Master Plan by award-winning Costa Rican architectural
and land planning firm Zurcher Architects, designer of Los Sueños Marriott in Costa Rica and
a Four Seasons resort on the Costa Rican coast, includes lot plans, amenities, and commercial
space.

Price: Ocean-view lots from $76,000, up to $263,000 for a large clifftop waterfront lot. Lot
and home package—including swimming pool—from $199,000 to $385,000, depending on
location, size of home, and view.

Turnkey building program: Yes, several models are available, homes constructed of
Brazilian grapia and ipe wood, with concrete pools and wooden decks. Developer handles
entire building process, turned over to owner ready to furnish. Personalized furnishing and
decorating assistance available. Custom-made homes in Phase 2 for $75 per square foot.

Rental program: Rental program will commence when initial group of homes are
completed.




                                                                                                8
Maintenance program: Yes, at present, maintenance costs are preliminary only and subject
to review. First group of homes to be completed in Oct 2005, when maintenance program
will commence. Basic service $300 per month, includes the following: cleaning twice a week,
windows once a month, checking electrical appliances, paying monthly utility bills for owner,
fumigation twice a month, inventory of home, garden maintenance, pool cleaning and
maintenance. Does not include pool chemicals or tools.

Annual cost of property ownership: In 2005, $1,800 per year HOA fees, $150 property
tax for lot only ($100 taxes plus $50 to Tola Developers Association) or $600 property tax
for lot with home ($500 taxes plus $100 to Tola Developers Association).

Building covenants: Homes are developer designed and built.

Security: Yes, 24 hours.

Title insurance: Yes.

Beach access: La Redonda: secluded beach within project, and El Gigante: public beach
adjacent. Future direct access to Manzanillo surfing beach, one mile away.

Available lot/unit types: Home/lot packages on most lots. Some oceanfront, cliff-side, and
ocean-view lots. Limited number of beachfront lots available.

Vertical Construction: Single family homes.

Proximity to health care and medical facilities: Roberto Clemente Clinic is 10 minutes
away (for triage only). There is a small hospital and pharmacies in Rivas (30 minutes away),
and large hospitals with English-speaking physicians in Managua (two hours away).

For more on Arenas Buccaneer Point contact Sharon Hogan, our Nicaraguan Real Estate
Liaison, tel. toll free at 866-376-9727, or by e- mail at http://www.il-
ireland.com/il/questionnaire/29-03-06/




www.InternationalLiving.com




                                                                                               9
3) El Dorado
...alongside the Pacific Coast in the southern region of Tola

El Dorado is the most economical way to purchase a home/lot package on the Pacific
Coast—you can buy a villa and lot here for under $100,000. Under the development of the
same principals as Buccaneer Point, El Dorados’ villas are smaller—two-bedroom, two-
bathroom homes with wooden decks.
Situated adjacent to the fishing village of El Gigante, in a wooded shady area, there are no
views, but, you’re just about a block and a half from a long sandy beach.
El Dorado is the only development on this stretch of coast offering commercial opportunity.
In front of the villas, the builder will construct commercial lots—to suit your requirements—
for a fixed price. Since El Gigante is the only real village with services in the area, it’s picking
up and seeing more tourist traffic—particularly surfers. A clubhouse with pool is planned.

Natural resources: Beaches; estuary; wildlife; ocean.
Ease of access: To airport/capital city: two hours and 15 minutes. Paved road to within 9.25
miles of the project, and a well-maintained dirt road for the last 9.25 miles.
To nearest town with bank and grocery: Rivas—30 minutes away. Dirt road for 9.25 miles,
and then paved to town.

Existing infrastructure: Electricity to project; water system started; public dirt road to
project.

Existing amenities: None at present.

Planned infrastructure: Underground electricity to all homes and lots; water system
completed; interior road paved with stone and brick pavers; wireless Internet.

Planned amenities: Commercial center; marina; clubhouse with pool and snack bar.

Access to recreation and entertainment: Adjacent to the fishing village of El Gigante
with restaurants and bars, fishing excursions, and charter boat trips. San Juan del Sur: one-hour
away, with more restaurants and bars, a dive shop, and small stores. Also close to Manzanillo
(excellent surfing beach).

Nature recreation available: Fishing; hiking; surfing; swimming; birdwatching; boat trips.

Development pla nning: Detailed Master Plan by award-winning Costa Rican architectural
and land planning firm Zurcher Architects, which includes lot plans, amenities, and
commercial space.
Price: Commercial lots from $41,546 to $ 96,164. The developer will build to suit.
Construction price on commercial lots: $55 per square-foot. Villas priced from $90,000 per
home/lot package.

Turnkey building program: Yes, two villa models are available, constructed from Brazilian
grapia wood, with wooden decks. The developer will handle the entire building process, and
turn the house over to the owner, ready to furnish. Personalized furnishing and decorating
assistance is available.




                                                                                                 10
Rental program: Yes, at present rental costs are preliminary only and subject to review.
First group of homes to be completed October 2005, when the rental program will
commence. 35% of rental fee when management company secures renter, and 25% when the
owner secures renter. Service includes cleaning, reservations, check-in, taking deposits, and
inventory and damage checks.

Maintenance program: Yes, at present, maintenance costs are preliminary only and subject
to review. First group of homes to be completed December 2005, when maintenance program
will commence. Basic service is $100 per month, and this includes the following: cleaning
twice a week; windows once a month; checking electrical appliances; paying monthly utility
bills for owner; fumigation twice a month; inventory of home, and garden maintenance.

Annual cost of property ownership: In 2005: $1,200 per year HOA fees. $600 property
tax for lot/home package ($500 taxes plus $100 to Tola Developers Association).

Building covenants: Homes are developer-designed and built.
Security: Yes, 24 hours.

Title insurance: Yes.

Beach access: Public beach access situated 1.5 blocks from the villas.

Available lot types: Commercial lots are available. Developer will build to suit.

Home/lot packages available on lots situated in wooded area, without views, but a short walk
to the beach.

Vertical construction: Single family homes; commercial space.

Proximity to health care and medical facilities: Roberto Clemente Clinic: 10 minutes
away (for triage only); small hospital and pharmacies in Rivas (30 minutes away), and large
hospitals with English-speaking physicians in Managua (two hours away).

For more on El Dorado contact Sharon Hogan, our Nicaraguan Real Estate Liaison, tel. toll
free at 866-376-9727, or by e-mail at http://www.il-ireland.com/il/questionnaire/29-03-
06/




www.InternationalLiving.com




                                                                                              11
4) Coco Beach
...hill-side lots with view of Costa Rica; close to San Juan del Sur

Coco Beach is truly unique. It’s five minutes from a National Reserve for Olive Ridley sea
turtles, and there are heavy restrictions from the Environmental Ministry as to what can be
built in this zone—Coco Beach has passed with flying colors.
The project is located about a half-hour south of the Pacific Coast town of San Juan del Sur.
(This small beach town enjoys spectacular views of Costa Rica, and boasts one of Nicaragua’s
finest—if not the finest—beaches, and has direct private access.)
The water treatment plant has been specially designed so that effluent water can be used for
irrigation—the water is totally safe and unpolluted. As per requirements in this area, special
lighting has been installed in order to reduce any impact on the turtles’ sense of orientation.

Natural resources: Beach, sea turtle reserve, views of Costa Rica and the islands, wildlife,
native flora and fauna, natural swimming pool during mid tides.

Ease of access: To airport/capital city, Managua: three hours, paved to last 10.5 miles, then
dirt road. To nearest town with bank and grocery, San Juan del Sur: 10.5 miles.

Existing infrastructure: Water system in process; electricity to project; interior
underground systems in process; public road to project.

Existing amenities: None at present.

Planned infrastructure: Waste treatment plant for irrigation; completion of water system;
completion of electrical underground; project to front coastal highway.
Planned amenities: Clubhouse with pool; snack bar serving drinks and light meals or fast
food.

Access to recreation and entertainment: Five minutes’ walk to eco-lodge with
restaurant, bar, small grocery, and bicycle and water sport rental. 10.5 miles to San Juan del
Sur, with restaurants, bars, dive shop, small stores, surf shops, and a few beaches that are
perfect for surfing.

Nature recreation available: It is five minutes from La Flor National Turtle Reserve as
well as fishing, swimming, hiking, and surfing. It is 10.5 miles to San Juan del Sur, where you
can rent a boat or take a tour.

Development pla nning: Detailed Master Plan and townhouse designs by the professional
architectural/construction firm of Calero-Pereira, based in Managua.

Price: 2,040-square-foot townhouses from $190,000 to $325,000 depending on views,
location, and number of units per building (one, two, or three units per building).

Turnkey building program: Yes.

Rental program: Yes 30% commission on rental fee, apart from basic maintenance.

Includes promotion, reservations, collecting payment and damage deposits, inventory of
home, general administration of the rental program. Additional charge for services such as



                                                                                                 12
airport pick-up, trips to town, purchasing groceries, or additional maintenance services such
as extra cleaning, etc. Participation is optional.

Maintenance program: Yes, individual property management of townhouse is available for
$200 per month. This includes cleaning and caring for garden area. Additional services such
as opening or closing the house, or painting, are available at an additional charge.

Annual cost of property ownership: $185 per month HOA fees, covering basic
maintenance to common grounds such as trash removal, streets, common areas, clubhouse,
pool, sewage treatment plant, security, internal traffic and pedestrian areas, public lighting,
etc.
Property taxes: 1% annually of the assessed value of lot and townhouse.

Building covenants: Homes are developer designed and built.
Security: Yes, when project is finished there will be 24-hour security, with fiber optic
perimeter monitoring, and a guarded access gate.

Title insurance: Yes.

Beach access: Yes, both public and private. There are other beaches nearby with public
access.

Available lot types: Hillside, ocean-view, immediately across the road from the beach.

Vertical construction: Two-story townhouses, 2040-square-feet, reinforced concrete with
clay tile roofs and hardwood interior finishes, staggered on hillside to allow for best views.

Proximity to health care and medical facilities: Small facilities in San Juan del Sur: 10.5
miles. Larger hospitals with English-speaking physicians in Managua.

For more on Coco Beach contact Sharon Hogan, our Nicaraguan Real Estate Liaison, tel.
toll free at 866-376-9727, or by e-mail at http://www.il-ireland.com/il/questionnaire/29-
03-06/




www.InternationalLiving.com


                                                                                                  13
5) Cumbres de Montecristo
...cliff-top   lots with great ocean views; located one hour from Managua

Montecristo is a “wow” project. If God could have made land for a development, Montecristo
would be it. The developers have taken advantage of the natural terrain to carve out lots that
allow for maximum views from each site. Just under an hour outside Managua (on a largely
paved road), owners here are still close to the action and medical facilities of the capital. It’s
located just outside the fishing village of El Transito, where there are restaurants, a small
grocery store, and a surf spot nearby. Jorge and Lori Estrada, a husband-and-wife team, are
the developers. (Jorge had at least one former president of Nicaragua and a couple generals in
his family. Lori, an osteopath from the U.S., runs the Estrada-Shealy Clinic in Managua.)
Having successfully completed another development near Managua, they’re using their
experience to move this one along quickly. (Development started in February this year and
progress has been significant.)
As they will be living onsite, the Estradas have thought about what they need to make their
family comfortable…and they’re installing it. Based on a “community” concept, they plan to
build a clubhouse with pool, and provide art lessons, salsa lessons, horseback riding, tennis,
and a driving range...and more.

Natural resources: Beach; wildlife; estuary; ocean; natural pools.

Ease of access: To airport/capital city, Managua: less than one hour on paved road. To
nearest town with bank and grocery, Manauga: less than one hour on paved road. Forty
minutes to the city of Leon.

Existing infrastructure: Road sub-surface completed in Phase 1 with adoquin block paving
underway. Water system in process, electrical undergrounds in process.

Existing amenities: None at present.

Planned infrastructure: Roads to be paved with adoquines; underground water system to be
completed; underground electrical system to be completed; Internet and cell phone tower;
helipad; and satellite TV.

Planned amenities: Driving range; clubhouse with gym; library; salon; restaurant; pool with
bar and snacks; horse-riding; Spanish lessons; spa; art and salsa lessons; mini supermarket;
table tennis; hiking trails; billiards; tennis and basketball courts; live weekend entertainment;
round-the-clock security; fishing and tourist excursions.

Access to recreation and entertainment: Fishing village of El Transito just outside main
entrance, with restaurants, a small grocery store, and fishing or boat trips, etc. Managua (less
than one hour away) has all modern city conveniences such as supermarkets, shopping malls,
movie theaters, casinos, nightclubs, restaurants, bars, hotels, country club, and social club.

Nature recreation available: Fishing; hiking; swimming; birdwatching, and horse-riding.

Development pla nning: Extensive Master Plan. One hundred lots engineered to have
ocean views from almost every place you stand. Castillo (castle) clubhouse with restaurant,
pool, gym, library, terraced complex, stables, tennis and basketball courts, trails and
walkways, mini-market, green area gardens, and community gazebos.




                                                                                               14
Price: In Phase 1, 1/3-acre hillside ocean-view lots from $55,000 to $90,000. A few
oceanfront clifftop lots left, from $160,000 to $185,000.

Turnkey building program: Yes, custom-built to your specifications with hands-on
supervision by developer. The architects will design your home to your requirements; they
will build your dream home and hand you the key.

Rental program: Rental management is available for 15% of rental fee.

Maintenance program: Property management is available for a minimal cost.

Annual cost of property ownership: HOA fees are $1,400 per year. Property taxes are
1% of 80% of assessed value, annually. No other fees apply.

Building covenants: Yes. Not extensive, but plans must be approved by the architectural
committee.

Security: Yes, 24 hours.

Title insurance: Yes

Beach access: Yes, a long black-sand beach at the front of the project, and three smaller,
light, caramel-colored beaches on the north side of Phase 1. There are accessible natural rock
pools as well.

Available lot types: Oceanfront clifftop in Phase 1, from 0.5 to over 0.75 acre. Ocean-
view and/or valley-view lots in Phase 1, from 0.25 to 0.5 acre. Currently, there are
approximately 49 lots available in Phase 1.

Vertical construction: None at present. Building custom homes to suit.
Proximity to health care and medical facilities: Managua, with modern hospitals and
English-speaking physicians: less than one hour away.

For more on Cumbres de Montecristo contact Sharon Hogan, our Nicaraguan
Real Estate Liaison, tel. toll free at 866-376-9727, or by e-mail at http://www.il-
ireland.com/il/questionnaire/29-03-06/




www.InternationalLiving.com




                                                                                            15
6) El Cafetal
...on the hil ls overlooking the city of Managua

Located in the Managua Sierras (a small mountain range about 15 minutes south of the
capital city Managua), this development is for those who would like to remain within easy
access of city conveniences—while enjoying privacy, natural beauty, and year-round spring-
like temperatures.
The developers of El Cafetal have extensive experience, including other projects near
Managua, and on the Pacific Riviera Coast. Some of their projects, about five minutes away,
include the leadership center El Laurel, and the mountain hotel, Pueblo Viejo. The developer
will build homes from several models—which can be adjusted to suit individual tastes. Building
costs are reasonable. It offers lush foliage and large trees, and more refreshing temperatures
than other areas of the country due to its elevation.
I like this area in general because Managua is expanding rapidly, making property just outside
the city more valuable every day. For retirees or those with health problems, first-class
medical care is only minutes away.

Natural resources: Coffee farm, semi-humid forest, beautiful flora and fauna, including
migratory and national birds.

Ease of access: To airport/capital city: 15 minutes from Managua, and 45 minutes from the
airport. To nearest town with bank and grocery: 15 minutes away from Managua.

Existing infrastructure: All infrastructures are in place: electricity connection laid
underground; water system in place; gated community with 24-hour security system; and
individual septic systems.

Existing amenities: Clubhouse; swimming pool; hiking; birdwatching.

Planned infrastructure: All in place.

Planned amenities: Tennis courts; gym; horses. Master Plan allows for possibility of golf
course in the future.

Access to recreation and entertainment: Fifteen minutes away from Managua, with
shopping malls, movie theaters, casinos, restaurants, and bars, etc.

Nature recreation available: Bird-watching; hiking; tracking; wall-climbing; highrope
course.

Development planning: Master Plan in progress, to possibly include construction of
condominiums as well as existing lots.

Price: From $52,000 to $82,000–price depends on size and view.
Turnkey building program: Developer will build homes to suit at $65 per square foot.

Rental program: Yes.

Maintenance program: Yes.

Annual cost of property ownership: HOA fees: $125 per month. Property taxes: 1% of
assessed value of land and structures.



                                                                                            16
Building covenants: Homes are developer designed and built.

Security: Yes, 24 hours, and there’s a gated entrance.

Title: Yes

Beach access: N/A. Mountain properties with valley views here.

Available lot types: “Ranches” or larger lots with views for single family homes.

Vertical construction: Condos; small apartments for rent; single family homes.

Proximity to health care and medical facilities: 10 minutes from Metropolitan
Hospital, with modern facilities (the best in Nicaragua).

For more on El Cafetal contact Sharon Hogan, our Nicaraguan Real Estate Liaison,
tel. toll free at 866-376-9727, or by e- mail at http://www.il-
ireland.com/il/questionnaire/29-03-06/




www.InternationalLiving.com




                                                                                    17
7) Gavilan Beach
...beachfront lots in the southern region of Tola

Gavilan Beach is the overall winner for true beachfront. Though roads and electricity have
been installed, it’s truly a no-frills project: no security, no clubhouse, no restaurant or
bar…just white-sand beachfront at a great price. Title here is “perpetual leasehold,” rather
than fee simple. There is a minimal fixed-lease tax payment, payable annually.
On the upside, there are no regulations or restrictions on what owners may build, or time
restrictions on when they must have started building. The developers own more land in this
area and are considering installing a development here, which owners of these lots would have
access to…but it’s not guaranteed.
Gavilan Beach is located on the Pacific Riviera (about 15 minutes north of Rancho Santana),
very near the fishing village of El Astillero, where you’ll find small convenience stores, and
rustic restaurants.

Natural resources: Beach; estuary.

Ease of access: To airport/capital city: two hours from Managua on mostly paved roads,
though approximately 6.25 miles are dirt. To nearest town with bank and grocery: Rivas—
about 35 minutes away.

Existing infrastructure: Electricity to lot (national grid); public road to lot.
Existing amenities: None.

Planned infrastructure: N/A, already in existence.

Planned amenities: None.

Access to recreation and entertainment: Fishing village of El Astillero: five minutes’
walk, with small restaurants. San Juan del Sur is about one hour away.

Nature recreation available: Fishing; surfing; swimming; beachcombing; bird-watching;
turtle nesting beach approximately 15 minutes away.

Development pla nning: Beachfront lots only at this time. Possible community
development in near future, but it’s still in planning stages.

Price: A few select beachfront lots remain starting at $59,000.

Turnkey building program: No.

Rental program: No.

Maintenance program: No.

Annual cost of property ownership: $265 per tax year per lot (0.34 acres) as per
leasehold agreement with municipality.

Building covenants: No.



                                                                                            18
Security: No. Private-hire watchman is available.
Title insurance: Yes.

Beach access: Direct, onto a long white-sand beach.

Available lot types: Beachfront from 0.33 acre and upward.

Perpetual leasehold with set yearly fees per contract with government.

Vertical construction: Neighboring homes are 2,800 to 6,000 square feet.

Proximity to health care and medical facilities: A small hospital is located in Rivas: 30
minutes away, and there’s a large hospital with English-speaking physicians in Managua,
which is two hours away.

For more on Gavilan Beac h contact Sharon Hogan, our Nicaraguan Real Estate
Liaison, tel. toll free at 866-376-9727, or by e- mail at http://www.il-
ireland.com/il/questionnaire/29-03-06/




www.InternationalLiving.com




                                                                                        19
8) Gran Pacifica
...beachfront commun ity north of Managua

Conceived by some of the most talented land planners, architects, engineers, and model-
home designers in the industry, the most impressive thing about Gran Pacifica is its Master
Plan. Just over an hour south of Managua—and also on the Pacific Coast—it’s the only
planned community that contemplates a potential hotel resort complex and a golf course.
Of all the developments in this report, Gran Pacifica has the best plans for infrastructure—by
far. It projected to have brick-paved streets, sidewalks, underground sewers, and street
lighting. Almost five years in the planning stages, Gran Pacifica’s first stage of infrastructure
is almost complete. Underground power and water to Phase 1 are almost finished, and building
will commence on the first group of homes. Despite its first-class Master Plan, pricing here is
reasonable—home/lot packages start at under $99,900

Natural Resources: Beach; coastal views; ocean.

Ease of access: To airport/capital city: one hour to Managua. To nearest town with bank
and grocery: San Raphael is 20 minutes away with a small grocery and bank. One hour to
Managua with supermarkets, etc.

Existing infrastructure: Roads are rough-cut; underground services to lots in Phase 1 are
90% installed; road surfaces and sidewalks will be installed by end of March 2006.

Existing amenities: None at present.

Planned infrastructure: Paved road; brick sidewalks; underground water and power;
streetlights; cellular phone system; satellite TV; fiber optic to homes.

Planned amenities: A 27-hole golf course (construction started January 2006); clubhouse
with restaurant; hotel complex with convention center, casino, swimming pools, tennis, spa
facilities, retail and food concessions.

Access to recreation and entertainment: Planned onsite, but in the meantime Managua
(an hour away) has all modern city conveniences such as supermarkets, shopping malls,
movie theaters, casinos, nightclubs, restaurants, bars, hotels, country club, and social club.
Nature recreation available: Fishing; hiking; surfing; swimming; beachcombing.

Development pla nning: Extensive Master Plan by Urban Design Associates, who designed
Disney’s Celebration Community, Pinehurst’s new golf town center, and the Watercolors
seaside community in Florida. Architectural designs by Zurcher Architects, designer of two
Marriotts and a Four Seasons on the coast of Costa Rica. “G”alvez & Volio & Assoc. are the
construction management firm, and Llansa Engineering are responsible for engineering and
construction. There is a T.L. Haugen Design golf course. Ernst and Young economic studies
were used here.

Price: Home sites from $43,900. Golf course sites from $90,000. Completed home packages
from $139,900.




                                                                                                 20
Turnkey building program: Planned casita village with 800-square-foot homes, complete
with lot, appliances, and furniture, starting at $99,900.

Rental program: Yes: details are being finalized. Pacifica Concierge Services will head this
program and also provide property management separate from rentals for folks not in the
rental program. They will also provide construction oversight, airport pick-up, and
refrigerator stocking for owners.

Maintenance program: Part of Pacifica Concierge Services (see above). Details are being
finalized.

Annual cost of property ownership: Property Owner Fees (POF) calculated at $2.62 per
meter of lot, and paid annually. (The basis of calculation was a complete replacement of
roads, storm sewers, sidewalks, streetlights and common water facilities like irrigation and fire
hydrants in 15 years.) HOA will be officially created in January 2006 at the first annual
meeting where officers will be elected and a corporation formed. All monies collected and
held in trust will be deposited at that point into the POA and be placed under their
administration.
Taxes are collected by Gran Pacifica and paid annually to the municipality. They are
0.8% (eight tenths of one percent) of the lot, or combined lot and home price.

Building covenants: Homes developer designed and built.

Security: Yes, 24 hours.

Beach access: Yes.

Available lot types: Oceanfront; ocean-view; premium; golf-front, village lots and parking
lots.

Vertical construction: First condo building is in design. There are 22 units of oceanfront,
from 500 square feet to 1,700 square feet, and priced from just over $100,000 to just under
$300,000

Proximity to health care and medical facilities: One hour from Managua, where there
are large hospitals and English-speaking physicians.

For more on Gran Pacifica contact Sharon Hogan, our Nicaraguan Real Estate
Liaison, tel. toll free at 866-376-9727, or by e- mail at http://www.il-
ireland.com/il/questionnaire/29-03-06/




www.InternationalLiving.com




                                                                                               21
9) Las Fincas
...lots surrounded by lush forest; 20 minutes from Costa Rican border

South of San Juan del Sur, and about five minutes from the ocean, Las Fincas offers view lots
at hard-to-come-by prices: from $27,000 for a parcel of over one-acre. Included with lot
purchase, is a solar power system—to be installed by the developer when you build.
Set in over 200 acres of reserve area—with lots of flora and fauna—this is another no-frills
development. Roads are dirt, but parcels are large. Here you’ll be close to the beach, with
views of the valley or ocean. You’re also close to San Juan del Sur and the La Flor turtle
reserve. Surfers love the area—it’s close to top-class surfing beaches.

Natural Resources: Wildlife; forest; close to ocean; about 6.25 miles from Sea Turtle
Reserve; lots of fauna; 266 acres of reserve area.
Ease of access: To airport/capital city: 2.5 hours from Managua. To nearest town with bank
and grocery: 15 minutes from San Juan del Sur. 45 minutes away from the City of Rivas.

Existing infrastructure: Dirt roads; water system from a well; electrical system provided by
solar power; individual septic system.

Existing amenities: None.

Planned infrastructure: Solar power system included with purchase of lot, consisting of
photovoltaic panels, battery backups, and warranty on the battery and panel.

Planned Amenities: None planned.

Access to recreation and entertainment: 15 minutes to San Juan del Sur, for restaurants,
bars, dive shop, fishing, and boat trips.

Nature recreation available: Fishing; hiking; bird-watching; wildlife; turtle reserve beach;
surfing; canopy tour; swimming.

Development pla nning: Basic Master Plan complete, which has large lots with ocean views
and valley views. 266 acres of reserve area.

Price: From $27,000 for over one acre, to $125,000 for 7.88 acres. Price varies depending
on size and ocean view.

Turnkey building program: No.

Rental program: No.

Maintenance program: No.

Annual cost of property ownership: $500 per year, which covers all green area and
common area within the development. Property taxes: 1% annually of assessed value of
property.

Building covenants: Homes are developer designed and built.



                                                                                            22
Title insurance: Yes.

Beach access: No direct access. Escamequita beach is about a five-minute’ drive away on a
public access, dirt road. El Yanqui, Tamarindo, Hermosa and Remanso beaches are within a
few minutes’ drive.

Available lot types: Large (from one acre to 7.88 acres) hillside lots in heavily forested
area with ocean views.

Vertical construction: None.

Proximity to health care and medical facilities: Small facilities in San Juan del Sur: 15
minutes away. Larger hospitals with English-speaking physicians in Managua: 2.5 hours away.

For more on Las Fincas contact Sharon Hogan, our Nicaraguan Real Estate Liaison,
tel. toll free at 866-376-9727, or by e- mail at http://www.il-
ireland.com/il/questionnaire/29-03-06/




www.InternationalLiving.com



                                                                                             23
10) Los Perros
...large ocean-view lots; view of Costa Rica; 40 minutes from Rivas

Los Perros is a neighboring project of Rancho Santana, adjacent in the south. I would describe
Los Perros as “Rancho Santana Deluxe.” Lots at Los Perros are larger—from 1 to 5 acres—
and the CCRs require larger homes.
The lots at Los Perros are larger than most lots at Santana. Think of them as privacy
lots...legacy lots. Los Perros is a place to invest not only for your enjoyment today...but also
for your family, and their families. Los Perros is being developed with the very long term in
mind.
As well as easy access to Rancho Santana’s amenities, Los Perros offers privacy, luxury, and
exclusivity—but with all the comforts of home, and, I’d argue that the beach here is more
beautiful than any one at Santana.

Natural resources: Beaches; wildlife; ocean; estuary.

Ease of access: To airport/capital city: 2.5 hours. Paved road to within 14 miles of the
project, with a well-maintained dirt road for the last 14 miles. To nearest town with bank and
grocery: Rivas, 30 to 40 minutes away. Dirt road for 14 miles, then paved to town.

Existing infrastructure: There are well-maintained dirt roads, and underground electricity
and water to the first 40 lots. An aboveground electrical system is going into the first phase
of the project, and there’s an independent well on the property.
Existing amenities: Shared with Rancho Santana (sister project) are: horse-riding and
stables; tennis courts; two clubhouses; restaurant; bar; sunset terrace; helicopter pad; two
pools; kayaks; surfboards, and a medical clinic.

Planned infrastructure: Infrastructure is already complete in the existing phase.

Planned amenities: No additional amenities are planned at this time.

Access to recreation and entertainment: Bar and restaurant are onsite at Rancho
Santana. San Juan del Sur is just over an hour away, with more restaurants, bars, a dive shop,
boat excursions, etc. Rivas: 30 to 40 minutes away, with other bars and restaurants.

Nature recreation available: Fishing; hiking; surfing; swimming; birdwatching; kayaking.

Development planning: The Master Plan is completed for Phase 1. The rest of project is
still to be determined.

Price: Estate lots from $155,000 to $400,000.

Turnkey building program: Not available at present. There are recommended contractors,
architects, and construction inspectors. Lot owners are free to use any architects and
contractors they wish.

Rental program: Yes, a rental program is planned, but hasn’t been implemented yet as
there is only one house. The plan is to rent the home at a price and percentages determined
by the HOA.


                                                                                                 24
Maintenance program: Yes, for homes there is a $200 per month maintenance fee. This
includes maid service seven days a week, and a caretaker to maintain the outside of the house
and carry out landscaping. For homes with pools the charge is $300 a month.

Annual cost of property ownership: In 2006: $600 per year HOA fees plus $150
Property
Tax for lot only ($100 taxes & $50 to Tola Developers Association), or $750 Property Tax
for a lot with home ($600 taxes & $150 to Tola Developers Association).

Building covenants: Yes

Security: Yes, 24 hours. Gated-entry access only.

Title insurance: Yes.

Beach access: There are two beaches in Los Perros, and three in Rancho Santana.

Available lot types: One beachfront lot, and a dozen (large—1.5 acres each) close to the
beach with an ocean view.

Vertical construction: None at present, and unlikely in future. Exclusive estate lots are
intended for custom-designed homes.

Proximity to health care and medical facilities: Health clinic immediately outside the
front gates of Rancho Santana (for triage only). There are small hospital and pharmacies in
Rivas (40 minutes away), and large hospitals with English-speaking physicians in Managua
(2.5 hours away).

For more on Los Perros contact Sharon Hogan, our Nicaraguan Real Estate Liaison,
tel. toll free at 866-376-9727, or by e- mail at http://www.il-
ireland.com/il/questionnaire/29-03-06/




www.InternationalLiving.com




                                                                                              25
11) Norome Sunset lots
...Norome Resort— on the shore of Lake Apoyo, Granada

On the shores of stunning Laguna de Apoyo—a volcanic crater lake about 20 minutes outside
Granada, and also a proposed World Heritage site—Norome Sunset offers the best of both
worlds: privacy and amenities. These are the only lakefront lots that IL recommends in
Nicaragua.
As the name suggests, Norome boasts wonderful sunset views—encompassing the Mombacho
Volcano as well as the crater lake. Howler monkeys abound here…and you’ll find many
species of tropical butterflies and plants. Beachfront lots—around 1 acre in size—are priced
at $99,000. Lot owners have full access to the facilities at Norome Resort and Villas across
the lake, including restaurant, bar, swimming pool, water sports, etc.

Natural resources: Sandy beach; crater lake with warm mineral water; wildlife
(Howler monkeys common); local flora.

Ease of access: To airport/capital city: Managua is one hour away. To nearest town with
bank and grocery: Granada is 20 minutes away.
Existing infrastructure: Electricity is on the property. Each owner is responsible for
installing a pump to take lake water into a holding tank.

Existing amenities: Access to Norome Resort amenities, including pools, restaurant, bar,
massage, conference facilities, hotel, villa rentals, nature trails, sailing, peddle boats,
kayaking, and tour services. Please see: www.noromevillas.com.

Planned infrastructure: Common infrastructure at Norome Resort. At Sunset lots, only
one house is permitted per lot.

Planned amenities: N/A. Access to resort facilities is already in place.

Access to recreation and entertainment: Existing resort facilities are across the lake.
Granada is 20 minutes away with restaurants, bars, nightclubs, hotels, Lake Nicaragua boat
tours, canopy tours, volcano hikes, movie theater, Internet cafés, small boutiques, etc.
Managua, with all modern city conveniences, is less than one hour away.

Nature recreation available: Fishing, hiking; swimming; sailing; nature trails, volcano
hike; canopy tours; local flora including orchids in a cloud forest.

Development pla nning: Lots only.

Price: For 0.5-acre to 1-acre lots with lake frontage: $99,000. Only sic lots available.
Turnkey building program: No, however, developer will introduce the buyer to the
contractor, and help with the process.

Rental Program: Yes, in conjunction with Norome Resort program. Each Norome Sunset
home will be rented individually through Norome Resort. Owners will pay 30% of the rental
commission to the resort, and keep the remaining 70% of the income.

Maintenance program: Yes, in conjunction with Norome Resort program. Norome Resort
may manage Sunset property but it is not mandatory. If used, the cost is $90 per month, and



                                                                                              26
this includes security, cleaning, gardening, utility payment service, minor maintenance, and a
contracting service for major repairs if any.

Annual cost of property ownership: In general in Nicaragua there is a 1% annual property
tax based on the government’s appraised value of the property (usually less than half market
value). Maintenance fees are $90 per month. A basic HOA agreement must be signed prior to
purchase.

Building covenants: Owner cannot build more than two floors, and must preserve the
environment beyond house perimeter

Security: Yes, 24 hours through the management program from Norome Resort.

Title insurance: A master policy is not in place, but individual owners have applied.

Beach access: Direct access onto a sandy beach.
Available lot types: Lakefront; direct onto beach; sunset views of Mombacho Volcano and
Apoyo Crater.

Vertical construction: No.

Proximity to health care and medical facilities: Granada, with hospital, clinics, and
pharmacies: 20 minutes away. Managua, with modern hospitals and English-speaking
physicians: less than one hour away.

For more on Norome Sunset lots contact Sharon Hogan, our Nicaraguan Real Estate
Liaison, tel. toll free at 866-376-9727, or by e- mail at http://www.il-
ireland.com/il/questionnaire/29-03-06/




www.InternationalLiving.com




                                                                                            27
12) Rancho Santana
...gated commun ity; 50 mil es from Costa Rica; 40 minutes to Rivas

This one’s a no-brainer. Rancho Santana, Agora’s flagship development, is one of
Nicaragua’s first development projects. It’s been around long enough to have all the
necessary amenities in place, yet it’s new enough to offer properties that still represents a
good value. With satellite Internet service available in all parts of the project, you can build
at Rancho Santana and work from your home. This gated community (with 24-hour security)
built around three beautiful beaches, includes a restaurant, bar, clubhouse, tennis court, stables,
and more. A rental program and a property-management service are also available to owners.
You can leave your home for months, and not have to worry about what it will be like when
you return. It’s also the only project with a rental history and existing clientele. Recently the
developers have brought in a property-management team that is working hard to upgrade
standards and services.
Rancho Santana’s location on the Pacific Riviera is a prime one. Though other developments
are coming up fast, Rancho Santana still remains the benchmark of development in
Nicaragua.

Natural Resources: beaches; wildlife; river; estuary.

Ease of access: To airport/capital city: 2.5 hours; paved road to within 14 miles of the
project, and a well-maintained dirt road for the last 14 miles. To nearest town with bank and
grocery: Rivas, 30 to 40 minutes; dirt road for 14 miles, then paved to town.

Existing infrastructure: Well maintained dirt roads; underground electricity and water to
oceanfront phases; aboveground electricity to Ranchettes. The water comes from from deep
wells, with holding tanks at selected intervals within projects, and is good for household use.

Existing amenities: Horse-riding and stables; tennis court; two clubhouses; restaurant and
bar; telephones and wireless Internet access; satellite TV; sunset terrace; helicopter pad; two
pools; kayaks; surfboards; medical clinic.

Planned infrastructure: Infrastructure already existing in most phases, except Bella Vista
where infrastructure will be completed in May 2006.

Planned amenities: Additional pool or pools; a small shopping area with boutique shops
and a convenience store.

Access to recreation and entertainment: There’s an onsite bar and restaurant. San Juan
del Sur is just over an hour away, with more restaurants, bars, etc. Rivas is 30 to 40 minutes
away with bars and restaurants.

Nature recreation available: Fishing; hiking; surfing; swimming; kayaking.

Development pla nning: This is in process. There is a plan already completed for
beachfront phases and casitas, Bella Vista lots, and Ranchettes. The remainder is still
evolving, and a professional team was recently brought in to finish.

Price: Bella Vista lots with view, less than one mile from the beach, are priced



                                                                                                 28
$40,000 to $100,000.

Turnkey building program: Sold out, but a possibility exists for a second phase of casitas
and/or condominiums. There are recommended contractors, architects, and construction
inspectors. Buyers are free to use any architect or contractor they choose. There is no build
requirement.

Rental program: Yes, the rental management company charges 10% of the rental fee if the
owner supplies his or her own customer. If the management company supplies the customer,
the charge is 35%. Hotel rooms are available for $80 a night at the clubhouse. Two-bedroom
casitas are available for $125 a night. These small houses come with a fully equipped kitchen,
TV, and stereo. Fully equipped homes are available from $200 a night.

Maintenance program: Yes, for homes there is a $200 per month maintenance fee. This
includes maid service seven days a week, and a caretaker to maintain the outside of the house
and landscaping. For homes with pools the charge is $300 a month.

Annual cost of property ownership: In 2005: $600 per year HOA fees plus $150
Property
Tax for lot only ($100 taxes & $50 to Tola Developers Association); or $750 Property Tax
for lot with home ($600 taxes & $150 to Tola Developers Association)

Building covenants: Yes, extensive. Plans to be approved by three–member board, and
setbacks and height restrictions strictly adhered to. No timeline as to when owners must build,
but once begun owner is allowed 18 months to complete construction.

Security: Yes, 24 hours. Gated-entry access only.

Title insurance: Yes.

Beach access: Yes, there are three beaches in Rancho Santana, and two in its sister project,
Los Perros.

Available lot types: Hillside ocean-view lots in Bella Vista. Some resale lots with ocean
views and within easy walking distance of beach in first phase. Other lots: 7- to 10-acre
parcels with distant ocean views.

Vertical Construction: Currently, there are approximately 20 homes constructed with five
more expected to be constructed by Fall 2006 for a total of 25 homes. There are also 17
casitas that have been completed.

Proximity to health care and medical facilities: Health clinic immediately outside front
gates for triage only. Small hospital and pharmacies in Rivas (40 minutes away), large
hospitals with English-speaking physicians in Managua (2.5 hours away).

For more on Rancho Santana contact Sharon Hogan, our Nicaraguan Real Estate
Liaison, tel. toll free at 866-376-9727, or by e- mail at http://www.il-
ireland.com/il/questionnaire/29-03-06/


www.InternationalLiving.com




                                                                                            29
13) Santa Rosa
...oceanfront lots; close to the fishing village of El Transito

From the developer who also brought you Rancho Santana, this simple development, less
than one hour west of Managua, offers very reasonable prices for Pacific Coast property. As
well as having quality infrastructure (roads, power, water), I like Santa Rosa for its proximity
to Managua. Development here is basic: Phase 1 owners have a clubhouse with a pool; owners
at
Phases 2 and 3 share a clubhouse. Santa Rosa has access to three beaches, and really
spectacular views of the coastline. It’s located five minutes from the village of El Transito,
where you’ll find small restaurants and a convenience store.
Natural resources: Beaches; wildlife.
Ease of access: To airport/capital city: less than one hour to Managua on a paved road. To
nearest town with bank and grocery: Managua. It is 40 minutes to the city of Leon.
Existing infrastructure: Phase 1 and Phase 2 both have completed paved roads, and
underground electric and water. Phase 3 is expected to be finish by May 2006.

Existing amenities: Clubhouse with pool.

Planned infrastructure: Phase 3 is to be finished by March 2006, with paved internal
sheets, and underground power and water.

Planned amenities: Clubhouse in Phase 1 is already in place, and an additional shared
clubhouse with pool is planned for Phases 2, and 3.

Access to recreation and entertainment: The fishing village of El Transito just outside
the main entrance, with restaurants, a small grocery store, and boat trips, etc. Managua (less
than one hour away) has all modern city conveniences such as supermarkets, shopping malls,
movie theaters, casinos, nightclubs, restaurants, bars, hotels, country club, and social club.

Nature recreation available: Fishing; hiking; swimming; surfing; horse-riding.

Development pla nning: There’s a detailed Master Plan of three additional phases, with lots
and clubhouses.

Price: 0.25-acre second-line lots begin at $39,000. 0.25-acre ocean-view lots begin at
$74,900. There are a few 0.25-acre oceanfront lots beginning at $89,900.
Turnkey building program: No.
Rental program: Yes, an onsite property manager is planned, who will be responsible for
rentals and maintenance of individual homes, should owners choose to participate. Fees are
yet to be determined.

Maintenance program: Yes, details to be confirmed.

Annual cost of property ownership: For the year 2006, the common area annual fee is
estimated tot be $250. In Nicaragua, annual property tax is 1% of the appraised value of the
property. The appraisal is determined by the governing city, in Playa Santa Rosa, the city of
Nagarote. Currently, property owners in Playa Santa Rosa will pay approximately U.S.$125 a
year per lot.




                                                                                             30
Building covenants: Yes, on land use and building type. No lot shall be used except for
residential and reasonable ancillary purposes. No building or other structure on a lot shall be
(i) more than two stories and 20 feet in height (measured from the lowest point of the lot),
(ii) closer than eight feet from the side property line of the lot, or (iii) closer than 25 feet to
the front or rear of the property line of the lot.

Security: Yes, 24 hours, with two guarded-access gates.

Title insurance: Yes.

Beach access: Yes, to three beaches within the project.

Available lot types: Oceanfront, ocean-view, community lots with no view but a short walk
to the beach.

Vertical construction: Currently three houses under construction.
Proximity to health care and medical facilities: Managua, with modern hospitals and
English-speaking physicians, is less than one hour away.

For more on Santa Rosa contact Sharon Hogan, our Nicaraguan Real Estate Liaison,
tel. toll free at 866-376-9727, or by e- mail at http://www.il-
ireland.com/il/questionnaire/29-03-06/




www.InternationalLiving.com




                                                                                                 31
14) Villas de Palermo
...villas on a hill-side overlooking San Juan de l Sur

Villas de Palermo is a great “all-round package” purchase. Several things combine to make it
such a good deal: It’s only five minutes from San Juan del Sur, the foremost tourist “hot-
spot” on the Pacific Riviera. The villas overlook the Bay of San Juan del Sur, and each villa
has been designed to take maximum advantage of the view.
The sooner you buy here the better: as each phase is sold the price goes up…so there is built-
in equity.
The villas fall under Law 306, the Tourism Incentive Law. They’re operated as a “condo-
hotel,” so they are free of property tax and rental income tax for 10 years. With
growing tourist numbers, rental traffic is high here.
Natural Resources: Ocean; river; wildlife.

Ease of access: To airport/capital city: two hours to Managua, with a paved road
from door to door. To nearest town with bank and grocery: five minutes away from San
Juan del Sur.

Existing infrastructure: There’s an existing cell phone service with Enitel and Bell South.
The road subsurface is complete, and it’s in the process of being paved with adoquines.
Electricity and water have been installed in Phase 1. Phase 1 villas to be completed shortly,
and the clubhouse construction begun. Construction has already begun on Phase 2.

Existing amenities: Clubhouse with pool is currently under construction; restaurant; canopy
tour; horse-riding on site; access to a beach about 10 minutes away at Playa Hermosa.

Planned infrastructure: Completion of road paving; electricity and water for all phases;
Internet, and satellite TV.

Planned amenities: Clubhouse with pool are under construction. There is easy access to
recreation and restaurants in San Juan del Sur.

Access to recreation and entertainment: San Juan del Sur has restaurants, bars, small
stores, fishing charters, dive shop, and sailboat excursions, etc.

Nature recreation available: Fishing; hiking; canopy tour; surfing; swimming; trips to
turtle nesting beach; sailing.

Development pla nning: Detailed Master Plan placing villas to take advantage of views.
There will be a clubhouse with views of San Juan del Sur bay in front. Professional
architect/construction team from the U.S. are involved.

Price: 1,600-square-feet and over, freestanding villsa beginning at $169,900.

Turnkey building program: Yes, the developer will build from two models, and then turn
over to you, ready to live in or rent.

Rental program: Yes, under Tourism Incentive Law 306, the following applies for ten
years:
• You are required to rent your villa for 70% of the year


                                                                                            32
• You may use the villa for 109 days per year
• You will pay no income tax on the rental of your villa for 10 years
• You will pay no property tax on your villa for 10 years.

Maintenance program: Yes, there’s an extensive maintenance and rental management
program, in area of high rental traffic

Annual cost of property ownership: Your costs of ownership should be covered and still
leave you a profit, if rental occupancy is 15% or more. You can use your villa personally for
109 days per year and not have to pay any costs.

Building covenants: None, because the developer is building turnkey.

Security: Yes, 24 hours.

Title insurance: Yes.
Beach access: San Juan del Sur beach is a five minutes’ walk, and there’s additional access to
a private beach about ten minutes away.

Available lot types: All villas have ocean views of San Juan del Sur Bay.

Vertical construction: Freestanding villas, 1,600 square feet and over, with two bedrooms,
two baths, which are reinforced concrete constructions with quality finishes.

Proximity to health care and medical facilities: Small facilities in San Juan del
Sur, just minutes away. There are larger hospitals with English-speaking physicians in
Managua: 2.5 hours away.

For more on Villa de Palermo contact Sharon Hogan, our Nicaraguan Real
Estate Liaison, tel. toll free at 866-376-9727, or by e-mail at http://www.il-
ireland.com/il/questionnaire/29-03-06/




www.InternationalLiving.com




                                                                                            33
15) Vistalagos
…amazing lake-side property surrounded by a volcano and a crater lake with views
of ‘great’ lake and nearby Granada.

Experience the best in natural beauty that Nicaragua has to offer at Vistalagos.
Overlooking one of the most amazing and deepest natural crater lakes in the world,
Vistalagos offers some of the most spectacular views you will ever find in this
ecologically rich country. With triple views of Mombacho volcano, Lake Nicaragua and
the nearby colonial town of Granada Vistalagos is everything you have been looking for
wrapped into one great project.

Natural Resources: Crater lake—Lake Apoyo, volcano, wildlife.

Ease of access: Vistalagos is about a 45-minute drive on a newly constructed highway
from Managua and the International Airport. It is also only a few short minutes from the
old, colonial town of Granada.

Existing infrastructure: A 500-foot well that will ensure a private water supply.

Existing amenities: None at this time.

Planned infrastructure: Underground electric, Private water, and common buildings
(see below)

Planned amenities: Dock, clubhouse with restaurant, tennis court, horse stables and
“mirador.” Store on road to Granada.

Access to recreation/entertainment: Clubhouse with restaurant; swimming on private
beach; sailing and boating on Lake Apoyo, use of nearby land for horse riding. Also, the
nearby colonial town of Granada offers the best in fine dining and small boutique hotels.

Nature recreation available: Hiking and horse riding, private beach, large green areas
for walking.

Development planning: Two phases planned for a total of over 300 acres.
Price: Lots from $25,000 to $99,000 (nothing over $99,000). Lots sizes will be no
smaller than 0.25 acre.

Turnkey building program: Expected, but no details at this time.

Rental program: Expected, but no details at this time.

Maintenance program: CCR to cover maintenance and security.



                                                                                         34
Annual cost of property ownership: Annual fee of $360 due to HOA

Building covenants: Covered by CCR

Security: A gated community with 24-hour security.

Title insurance: First American Title master policy covering entire development.
Individual lot policies available as well.

Beach access: Private beach for boating and swimming.

Available lots/unit: Phase 1 will include 45 lots that vary in size (located at rim of crater
lake, Lake Apoyo); there are also be 14 waterfront lots and an undetermined amount of
Granada view lots for sale.

Vertical construction: First home planned, Clubhouse design under tender.

Proximity to healthcare/medical facilities: Only five minutes from local hospital in
Granada. Thirty minutes away from the brand new private Pellas hospital, which will be
area’s leader in providing first-world health care services.

For more on Vistalagos contact Sharon Hogan, our Nicaraguan Real Estate Liaison,
tel. toll free at 866-376-9727, or by e- mail at http://www.il-
ireland.com/il/questionnaire/29-03-06/


Important Note: By way of full disclosure, we want you to know that International
Living receives commissions from sales at the developments featured in this report.




www.InternationalLiving.com




                                                                                           35
And remember… When you finally determine which
development makes most sense for you—or if just
need more information on these properties—don’t
hesitate to contact Sharon Hogan, our Nicaraguan
Real Estate Liaison, tel. toll free at 866-376-9727,
or by e-mail at
http://www.il-ireland.com/il/questionnaire/29-0306/




www.InternationalLiving.com



                                                      36

				
DOCUMENT INFO
Shared By:
Categories:
Tags:
Stats:
views:23
posted:9/2/2011
language:English
pages:36