Wednesday, May 20, 2009
Dear Reader,
Along Central America’s Pacific coast you’ll find rocky outcrops, pounding surf, and some of the most jaw-dropping views on earth. In terms of raw beauty, I believe this stretch of coast trumps the coast of Southern California, a comparison often made.
Say you could still buy a half-acre lot with views of this ocean—how much would you expect to pay for a view like that? You could easily get it for $600,000…or as low as $48,000. The huge difference in price is thanks to an imaginary man-made line in the sand…
I’m talking about north-west Costa Rica and south-west Nicaragua. Both share the same climate, the same stretches of pristine beach, and the same rocky outcrops. They share many of the same cultural traditions, too. In fact the Costa Rican province of Guanacaste was part of Nicaragua in the 1800s.
In the 1980s, this part of Costa Rica led the charge in attracting North American retirees and holiday makers. Their marketing machine created “Brand Costa Rica”...one of the most successful country marketing campaigns the world has seen. Real estate values increased exponentially. Today, a half-acre ocean view lot in Tamarindo could set you back as much as $600,000.
But cross the border into southern Nicaragua and $48,000 buys you a half-acre ocean view lot. Of course, this isn’t an apples-to-apples comparison…the $600,000 lot in Costa Rica is not part of a gated community and doesn’t have access to amenities. The $48,000 lot in Nicaragua is in Rancho Santana.
Rancho Santana is a full-blown resort community. The beachfront clubhouse has just been refurbished and has a tasty new menu (I had lunch there in March). Fifty houses have already been built by owners and five more are under construction. Building work at the Seagate condos is on schedule.
The completed homes are seriously high-end. The resort is buzzing with residents and visitors. Rentals are in short supply. Demand almost outstripped supply for much of the early part of the year.
Nicaragua hasn’t been able to hold its own with the Costa Rica brand. Yet the coast is the same. In fact, I much prefer southern Nicaragua. I’ve visited Rancho Santana a dozen times in the last six years and I consider this stretch of coast one of the most spectacular in the world.
Anomalies like this can’t and won’t last forever. In my view Nicaragua’s southern Pacific Riviera delivers everything the Costa Rican marketing machine promises…and more…but for one-twelfth the price.
Ronan McMahon
P.S. Rancho Santana run a chill weekend trip, which covers airport transfer, accommodation for 3 nights, and breakfast, for only $299pp. If you buy, you get a flight credit of up to $1,000. I recommend you take a chill weekend, and see for yourself how you can own a slice of this spectacular coast.
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Posted Under:
nicaragua, beachfront, chill weekends
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