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Corn Island, which is made up of two islands, off the Atlantic coast of Nicaragua has attracted a lot of attention as of late as an up and coming location for some great real estate deals.
Here are a couple of reasons you may be interested in real estate in Corn Island:
Establishing a Business:
Corn Island is an up and coming tourist destination and in the next 5 to 7 years will be a great place to own a business. Projections show tourism on the rise, so it is the perfect time to buy a location and start developing a hotel, tour operator kiosk, bar, restaraunt or even a bike rental location. Whether it is on Big Corn Island or Little Corn Island there is plenty of opportunity to develop a thriving business. It is important to remember however that if you are looking to establish a dance club, bar or other venue that is designed with the party goer in mind that you will most likely want to set up shop on Big Corn island rather than on Little Corn Island.
One of the biggest draws if you are looking into purchasing some real estate in Corn Island to retire on are the low cost of living, the tranquil white sand beaches, the glorious sunsets and of course, you don't need to learn another language as almost everyone in the area speaks
English. Please note that if you are looking for a peaceful tranquil place to retire you may want to consider Little Corn Island as opposed to Big Corn Island as the latter is known more for it's easy going party environment and it can get a little noisy and busy during peak tourist season.
It should be noted however, that with the sudden pick up in interest in real estate in Corn Island that the scam artists are out in force as well. These people are out to make a quick buck and will usually have shady if not outright illegal documents of ownership (these are usually under the heading of "titulo supleterio" and are generally not even worth the paper they are printed on). Remember that unlike the US there is no regulatory agency for Real Estate agents in Nicaragua period. So anyone can set out a shingle and claim to be a real estate agent. Be very careful when engaging in real estate deals, especially with regards to the Corn Island area. It is also a well known fact that most property is shifted around within the same family and if they do decide to sell to you, it is usually after many many family meetings. Some things to watch for for example are instructions to pay a deposit up front to a bank account without seeing any papers, requesting a credit card to hold the property and many other shady tricks. If it sounds too good to be true it probably is especially in Corn Island.