Luxury Real Estate Blog and News
Sotheby’s International Realty Affiliates LLC is expanding into Nicaragua, South America, with the opening of Nicaragua Sotheby’s International Realty.
After five years of uncertainty and speculation the government in Nicaragua has finally approved a new coastal law that bans property from being built within 50 meters of the sea. The decision is a huge relief for real estate investors, many of them foreign, who were concerned that a temporary ban on propertylaw within 800 meters of the coast might be approved. However, the real estate industry is so vital to the future economy of the Latin American country with an increasing number of property investors from the US showing interest, that officials decided to opt for a compromise.