In the popular surf town of San Juan del Sur, the global pandemic is smothering market gains forged after Nicaragua’s political turmoil of 2018.
Over the past several years, Nicaragua has become more popular as a second-home destination. However, recent widespread protests, centered around unpopular social security reforms proposed by the government, have put a damper on sales of late, real estate professionals say.
As Nicaragua’s past political turmoil has faded in memory, the country has become a popular tourist spot and a second-home destination, according to real estate agents.
The real estate market “really opened up” from 2002 to 2004, when there was “tremendous growth for the country,” said Mr. Gutierrez of Sotheby’s. By 2006, “the market was booming,” he said.
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