Home Sales: Unsatisfying Forecasts

Businessmen in Nicaragua estimate that this year the sales of houses will not exceed one thousand units throughout the country, which is explained by the economic situation that the country has been living for fourteen months now.

Thursday, June 27, 2019

Although in April 2018 the political and social crisis broke out in the country, builders managed to sell 3,108 homes last year, but the figure was 34% lower than the 4,738 homes sold in 2017.

You may be interested in "More than $4 Billion in Residential Construction

The outlook for 2019 is not encouraging at all, as the business sector estimates that they will not even be able to sell the 1,000 units.

José Adán Aguerri, president of the Superior Council of Private Enterprise (Cosep), explained to Elnuevodiario.com.ni that "... Unfortunately, we returned to the starting point when we began this effort to bring housing solutions to Nicaraguan families. I mean that all the progress since 2009 has been virtually lost."

Aguerri added that "... The situation has worsened because of lack of funding on the one hand and lack of job security on the other. The sector continues to be depressed by these factors."

Also see "Construction: Next Investments in Central America

Regarding investments in the residential sector at the regional level, reports from CentralAmericaData indicate that during 2018, 435 environmental impact studies were presented to develop condominiums, apartment buildings and other housing projects in Central American countries, and the estimated investment exceeded $4 billion.

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Keep track of all the projects that will be developed in the region through our online interactive Construction Platform. More info here

More on this topic

Home sales: Market Shows Signs of Progress

May 2021

Businessmen estimate that between 750 and 800 houses were sold in Nicaragua during the first four months of the year, a figure that would be far from the sales reported prior to the socio-political crisis of 2018, but would exceed the sales of the last three years.

In 2017, before the political and social crisis broke out, 5,000 houses were sold in the country per year.

Nicaragua: Significant Decline in Residential Construction

December 2018

A 40% decline is estimated in the construction of social housing investments in the country, and in the case of middle and upper-class housing, the contraction reaches 70%.

According to figures from the Superior Council of Private Enterprise (Cosep), the value added in the construction sector will register a 25% decline, falling from $399 million in 2017 to $300 million in 2018.

Increasing real estate development in Central America

October 2018

A multi-purpose project in Costa Rica, works on aqueducts in Panama, and a condominium in Guatemala are part of the projects planned for the next months in the region.

The interactive platform "Construction in Central America", from the Business Intelligence Area of CentralAmericaData, includes an up to date list of public and private construction projects that are expected to be built soon.

Nicaragua: Tax Process Lifted for Developers

January 2014

Real estate developers can now submit one letter for the tax exemption on the transfer of property.

With the pressure exerted by the Superior Council of Private Enterprise (Cosep) and the Chamber of Builders of Nicaragua (Cadur), an agreement was reached with the Directorate General of Revenue (DGI) to normalize the process of obtaining the Certificate of Exemption for payment of income tax (IR).

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