Central America commercial real estate update:
At the beginning of the covid-19 outbreak in most of the region's real estate markets, interest in commercial investments decreased, but in recent weeks the decline stopped and in some countries increases are already being reported.
In our market of Nicaragua we have seen some healthy rental both in housing and as commercial real estate specifically in warehousing.
We have seen from the KW NIcaragua weekly updates from 130 agents, a small uptick in purchase of real estate, some are cash purchases, some with bank loans, however bank interest is expensive with a variable interest rate of 12%, therefore we see owners provide financing as long as buyers provide a minimum of 30 to 50% downpayment. Most repayments are between 5 to 10 years, some with interest as low as 6 to 8%.
If you have any interest in residential or commercial reale state, please give us a call 505 8688 0125 or email al paul.daemen@KWnicaragua.com or visit our website www.nicaraguarealestateteam.com
You can also visit our youtube channel for a variety of youtube videos on Nicaragua, real estate, and things to do in Nicaragua and current news on the coronavirus. https://www.youtube.com/channel/UCFG1Rpw3KzvFmZ_8CVnMXLA?sub_confirmation=1
We do have several properties available with owner financing.