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Nicaraguan Government Land Dispute Has Worried American Investors; Caveat Emptor

MANAGUA -- After years of not quite living up to its billing as Latin America's next real estate hotspot, Nicaragua is approaching a crossroads that could determine whether this impoverished country is ready to take off or to remain bogged down in underdevelopment.
Estrada instructed municipal property registrars to refer all such cases to the Attorney General's Office -- a move that has affected property transactions in about 70 percent of Granada and virtually all of San Juan del Sur, Nicaragua's two hottest real estate markets.

Instead of focusing on contested titles, the Attorney General's Office has ''thrown all properties into the same bag'' and only confused

The return to power of President Daniel Ortega, whose first Sandinista government confiscated thousands of private property holdings in the 1980s, raised political concerns among many business people.
Some 95 percent of the 3,500 beachfront properties that have been sold in recent years -- most of those to U.S. investors -- are still in the preconstruction stage. A lot of people may see their vacation or retirement-home plans turned upside down in the coming weeks
http://www.miamiherald.com/business/story/569907.html

So where is that real estate investment group Now known as International Living who was so ardently promoting Nicaragua as the next latin american real estate investment hotspot a few years back? Maybe headed to Colombia to do the same and drive real estate prices sky high? Don't be surprised,,,

By miamimike on Jun 14, 2008, 00:33 in Off Topic.