07212018Headline:
5 Green Reasons Costa Rica Is the Poster Child of the Environment 5 years ago
Have You Tried Guanacaste’s Fastest Growing Sport? 5 years ago
Was Your Costa Rican Bank Account Closed? 5 years ago
Latin America Investment News on Viva Tropical

Housing Costs in Central America: Nicaragua by Far the Cheapest

Article Summary:

Key findings from the Central America House Price Snapshot: The median house price for the 12 markets was $260,000. The average house price for the 12 markets was $285,000. A $425,000 price gap was found between the most expensive market, Placencia Peninsula, Belize and the most affordable market, Granada, Nicaragua.

Photo Credit: Reveal Real Estate

Original Article Text From Reveal Real Estate:

What Is The Central America House Price Snapshot?

The Central America House Price Snapshot, coordinated by Reveal Real Estate and Global Property Guide, reveals the sales price of similar homes across 12 real estate markets in Belize, Nicaragua, Costa Rica and Panama. The study relies on input from members of a special Benchmarking Group comprised of recognized real estate experts in Central America.

The results shine a light on house prices in locations popular with international real estate investors. Often described as “hotspots,” these are premium locations with inherent natural appeal and local attractions that draw in tourists as well as real estate investors.

Who are the 2012 Benchmarking Group?
The Benchmarking Group brings together some of the top real estate experts in Central America – people with in-depth knowledge of their local market. We are honored to work with the following Benchmarking Group members for the 2012 study.

The Benchmarking Group were asked to report the sales price of a “typical house” in the last year for a specific area. As the study provides a snapshot of the market, it is to be used as a guide, not a definitive price source.

The “typical house” is defined as a single family home, approximately 2,200 square feet in size with 3 bedrooms and 2 bathrooms, on a lot no greater than ¾ of an acre located in a “middle market” neighborhood where international real estate investors are purchasing.

Key Findings

      The median house price for the 12 markets was $260,000

 

      The average house price for the 12 markets was $285,000

 

      A $425,000 price gap was found between the most expensive market (Placencia Peninsula, Belize) and the most affordable market (Granada, Nicaragua). Note: The house identified in Placencia, Belize is located on the beachfront

 

      In all locations the price for a typical three bedroom house was below $580,000. If we take the beachfront property identified in Placencia from the sample, in the remaining 11 locations the price for a three bed house was below $380,000.

 

      The two lowest priced markets are located in Nicaragua.

 

    The two highest priced markets are located in Belize and Costa Rica. The Panama markets fall in the middle range.

Link to Original Article:

From Reveal Real Estate

Latin America Investment News on Viva Tropical