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Frequently Asked Questions
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Where is Nicaragua and how do I get there?
Nicaragua is located in the very center of Central America between Costa Rica to the South and Honduras and El Salvador to the North. It borders both the Pacific Ocean and the Caribbean Sea. Click here for maps of Central America and Nicaragua.
The following airlines have regular flights from the US to Nicaragua: Continental Airlines, American Airlines, Delta Airlines, Taca Airlines, and Copa Airlines. Direct flights to Managua (Nicaragua’s capital city) are scheduled from LA, Miami, Houston, New York and Atlanta.
Flight times from key US hubs are as follows:
Miami - 2 hours, 30 minutes
Houston - 3 hours, 15 minutes
Los Angeles - 7 hours
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What is the climate like in Nicaragua?
In Nicaragua, the temperature does not vary greatly with the seasons and is largely a function of elevation. From sea level to 750 meters (2,460 ft) daytime temperatures average 86°F to 91°F, and night temperatures fall to 69°F to 75°F for most of the year. The central highlands of Nicaragua, which range in elevation from 750 to 1,600 meters (2,460-5,250 ft.) have daytime temperatures ranging from 75°F to 80°F and nights are cool (59° F to 68° F). The highest peaks of the central highlands, above 1,600 meters (5,250 ft.), have daytime averages of 71°F to 75°F, with night time lows below 59°F.
Rainfall is seasonal. The wettest months are May through to October and the driest December to April. Different parts of the country experience widely different rainfall levels. The Caribbean lowlands are the wettest section of the country, receiving between 2,500 and 6,500 millimeters (98-255 inches) of rain annually. The western slopes of the central highlands and the Pacific lowlands receive considerably less annual rainfall, being protected from moisture-laden Caribbean trade winds by the central highlands. Mean annual precipitation for the rift valley and western slopes of the highlands ranges from 1,000 to 1,500 millimeters (39-59 inches). During the rainy season, eastern Nicaragua can be subject to heavy flooding and tropical storms particularly from July through October. The Western side of the country is drier and less subject to flooding and heavy weather.
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What is Nicaragua's currency and exchange rate to the dollar?
Nicaragua's currency is the córdoba, written with the symbol C$. The córdoba is divided into 100 centavos. The exchange rate at the time of writing was 18.2 córdobas to the US dollar, and is now relatively stable. Dollars are a useful standby across Nicaragua, and this will increase with the widespread acceptance of the dollar across Central America.
According to INCAE, the Harvard Business school affiliate in Nicaragua, Nicaragua is the safest country, and Granada is one of the safest cities, in all of Central America. The Inter-American Institute on Human Rights, and a survey of police forces in the Americas, supports this claim and places Managua as the safest capital in the region, and Nicaragua as the safest country in Central America, and among the safest countries in the world. Recent studies also point to Nicaragua's low reported crime rate - lower than in Germany, France or the U.S.
Nicaragua is bouncing back from its troubled and often misunderstood past. It now has a growing economy and stable democratic government since 1990. Nicaragua boasts a rich cultural heritage, beautiful scenery, incredible biodiversity, lakes and volcanoes and an ever growing range of leisure activities.
The real estate market
- Property prices start very low but are increasing - investors have seen returns upwards of 60% on purchases in key ‘hotspots’ since 2000. Property prices have been rising by an average of 20% per year for the past four years and developments are springing up along the Pacific coast, in historical Granada and the Great Lakes (Laguna de Apoyo and Mombacho).
- Foreign investment Law 344 assures that foreign and domestic investment receives the same treatment. The law eliminates restrictions on the way in which foreign capital can enter the country and recognizes the investor’s right to own property and establish business enterprises as they wish. 100% foreign ownership is allowed – there is no requirement to have a local partner.
- The Nicaraguan Government has established attractive residency and retirement programs where eligible persons are given customs exemptions for household goods and vehicles.
- The cost of building is approximately $40-$80 per square foot.
- As of 2006 three major title insurance companies offer title insurance on property in Nicaragua: First American Title Insurance, Stuart Title and Land America.
The real estate market
- Gross Domestic Product (GDP) $2.45 billion (locally produced)
- Estimated 2005 Real GDP Growth 3.5%
- Inflation 3.7%
- Nicaragua is a signatory of the Central American Free Trade Agreement (CAFTA)
- After completing conditions of an IMF-monitored economic program, Nicaragua has been granted relief of foreign debt via the Heavily Indebted Poor Countries (HIPC) initiative.
- Since 2002, 10 major shopping centres have opened plus numerous international hotels and restaurants.
- Massive upgrades in roads and utilities are underway, particularly in Granada, Managua and on the Pacific.
- In 2005 GE acquired a 49.9% stake in BAC Bank, one of Central America’s largest banks.
- Managua International Airport has recently been expanded to double its original capacity.
- Telefonica, PCS and Enitel now operate cellular phone networks.
- Other large investors include Bayer, Unilever, Esso, Coca Cola, Shell and TGI Fridays
Spectacular natural beauty
- Beautiful Pacific coast white sand beaches to rival any in Costa Rica contrasting with dramatic hills and bluffs.
- World class colonial architecture in Granada and Leon
- Beautiful lakes and perfect cone volcanoes including Lake Nicaragua, the 10th largest freshwater lake in the world, and the astonishing Laguna de Apoyo.
- Turtle sanctuaries, cloud forests with old-growth trees and exotic flora and fauna in close proximity to Granada and Managua.
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