Sunday 19 October 2008, San José, Costa
Rica
Cuba and the Caribbean
on Panama Screens
Nicaragua
Looks to Become Retirement Destination
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Nicaragua Looks to
Become Retirement
Destination
Nicaragua is hoping to
follow in the footsteps
of its neighbor to the
south, Costa Rica, and
become a popular
destination for holiday
travelers and especially
retirees.
With some 450 miles of
coastline on both the
Caribbean Sea and the
Pacific Ocean, great
weather and some of the
lowest property rates in
the Western Hemisphere,
the country is poised to
become a property
hotspot.
Nicaragua recently
launched its own "pensionado"
program to attract
potential retirees.
Any person over 45 with
a pension or salary of
more than us$500 a month
can import up to $10,000
worth of personal goods
and a car duty free and
be exempt from taxes on
foreign income and
property for ten years.
Average prices are much
less than in other
neighboring countries
and the country has seen
some new developments in
recent years that offer
idyllic property along
both coasts.
According to the
Economist Intelligence
Unit the country is the
Western Hemisphere’s
second safest behind
Canada. Property costs
for a quarter acre
beachfront lot averages
us$159,000, about a
third of what the same
would go for in Costa
Rica.
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