| US$1 equals
19 Honduran lempiras
“Suban las
manos, por favor.” Obediently, we raise our hands as the guard at the door
frisks us. Once again, we stand out as visitors, as we have no pistol
to hand over. “Pasen,” he says, and we proceed to our table, admiring
the pleasant ambiance of this open-air, seaside restaurant. As we place
our orders, we watch while many of the customers turn in their sidearms,
which are neatly stored in a set of lockers by the door, to be returned
upon leaving. (I think I ruined our image by not having a .44 magnum, like
a “real” American would.)
Was this unsettling?
Frankly, no. To the locals, it was no more remarkable than having
to turn off your cell phone at a concert. The people in the restaurant
were courteous and friendly, and everyone was having a good time on this
Friday night. In fact, we never had any trouble anywhere, day or
night.
This is La
Ceiba, a Caribbean port city on the northern coast of Honduras. Home
to more than 100,000 people, it’s a town that has everything: a pleasant
central square, a large, modern mall, new supermarkets, food markets, a
cinema, fast food restaurants, and waterside dining. They even have
a North American-run real estate office right on the town square.
The lush cloud forest is just a few miles to the south, with an awesome
peak known as Pico Bonito overlooking the region. The Caribbean beaches
stretch from La Ceiba for more than 100 miles to the west and almost 300
miles to the east.
This is why
so many expats come to the Honduran mainland: for the beach properties
that you can still find for less than in the rest of the Caribbean, including
nearby Roatan.
In the coastal
region, the real estate market is a mixed bag. Buyers here are Hondurans,
North Americans, and Europeans. There is a variety of properties
on offer - here are a few examples:
• A little
more than a mile east of the harbor in La Ceiba, there’s a three-bedroom,
two-bathroom, octagonal concrete house for sale. It has great sea
and mountains views, and comes with deeded access to the beach out front.
Price: $149,000.
• A three-bedroom,
1,000-square-foot house on the beach, situated on a double lot with a pool
is selling for $189,000.
• For a potential
investor or developer, there’s a 13-acre beach parcel for sale just out
of town with 806 feet of beach frontage. This sandy beach is sheltered
by a cove and the land off the beach is wooded and flat. Price: $499,000.
• At Coco Pando,
there are four beachfront lots for sale (100 feet wide) at $45,000 each,
and in La Ceiba proper, we saw a three-bedroom house in a pleasant neighborhood
selling for $50,000.
• A little
inland at Pico Bonito, outside La Ceiba, I learned of a remote 30-acre
forest preserve on sale for $16,000.
• On the road
between El Progresso and Tela, there’s a 90-acre mountain property with
a solar-energy system, valley view, African palms, and coffee. Price:
$150,000.
A pirates’
hideout
One of the
finest attractions for those buying on the north shore are the cays (pronounced
“keys”) and islands within easy boating distance of the coast. Nine
miles offshore from Nueva Armenia, the two islands of Cayos Cochinos sit
like jewels in the turquoise waters, surrounded by a small group of cays.
Here you’ll find some of the world’s best fishing, snorkeling, and diving
- so good, in fact, that dive trips even come here from Roatan. Cochinos
means “hogs” and the islands got their name from the days when traders
left hogs here to graze. They would then collect them on the way
home to Europe, ensuring a fattened supply of fresh meat. Between
the two islands is a small passage where pirates used to hide while awaiting
merchant ships to pass by.
Just a few
miles away from Cayos Cochinos, we explored a cay called Chachauati, with
its small Garífuna village, where people live off the sea as they
have for centuries. Well, almost. As we beached the boat on
their island, several folks emerged from thatched huts to offer us trinkets,
necklaces, and coral jewelry made by village artisans - something they
weren’t doing in the days of pirates.
Not far from
Chachauati sits Upper Long Cay, an island of about 4 acres ringed with
sparkling narrow white-sand beaches and clear turquoise waters. There
are five, ¼-acre lots available here (of an original 10 lots) for
an asking price of $94,000 each. Except for working cell phones—this
island is “off the grid,” as evidenced by the solar panels and water
collection systems on the two homes already built here.
The other
face of Honduras
There’s more
to mainland Honduras than the Caribbean coast, and this country of almost
seven million people is one of the most diverse you’ll find anywhere. Honduras
- not Costa Rica - is the most forested country in the region, with 47%
of its land still a wooded area. Its rushing rivers draw whitewater
rafters from around the world, and the cloud forests host a staggering
array of flora and fauna. The climate is temperate in the mountains,
and subtropical in the coastal areas.
A well-maintained
highway takes you from the lowlands into the sierra. On the way,
you’ll go through the attractive colonial city of Comayagua, a former Honduran
capital situated here to take advantage of the silver mines in the area.
According to local knowledge, this clean, orderly city was founded in 1537,
and was the site of the country’s first bank in 1741. We were surprised
to learn that there are about 200 or so North American expats living nearby,
many of whom came to do missionary work and decided to stay.
Arriving in
Tegucigalpa (the capital), you’ll find a study in chaos when it comes to
city planning. The central square and cathedral look well organized,
but the former silver mining settlement seems to have just spread out at
random from there. It has some exclusive and stately neighbourhoods
- comparable with any you’d see in the world - as well as areas of poverty,
crime, and ramshackle buildings. But the city has everything you
could want, from exciting nightlife to fine restaurants, culture, malls,
and an international airport.
The food in
Tegucigalpa - and, in fact, throughout mainland Honduras - is great.
The strong Mexican influence has had a delightful effect on the already-unique
blend of Caribbean and Central American cuisine. It’s not unusual
to see a fondue of Mexican cheese or chorizo served with tortillas, along
with a blackened grouper or jerk chicken, with gallo pinto (beans and rice)
on the side. Of course, international cuisine is here, too, but I
found the local fare more interesting.
Would I live
in Tegucigalpa? Honestly, no. There are other Third World cities
that would be higher on my list. But there were some surrounding
areas where I’d be glad to settle.
The Valley
of Angels
Twenty minutes
from Tegucigalpa is the village of Santa Lucia, located at about 5,000
feet in the mountains surrounding Tegucigalpa, near an area known as Valle
de Angeles (Valley of Angels). The town looks almost medieval, with
its narrow, winding cobblestoned streets, stone walls, and old Spanish
architecture. A sparkling white church lies at one end, and at the
other there’s a wooded town park with a small lake at its center. Lush,
green mountains rise majestically around the town. While Santa Lucia
enjoys a fair stream of visitors, it maintains a residential feel.
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1. Building
versus buying
I was quoted
a range of numbers for building on the mainland, including $25 per square
foot out near Trujillo; $45 per square foot in Tela (on the coast) and
Tegucigalpa; and $65 per square foot in La Ceiba. However, I don’t think
these prices—all quite reasonable—were entirely reflective of their markets,
but rather of the contractor and type of house being built. You could probably
find the whole range in any of these cities.
If you speak
Spanish and want to build a home yourself, a construction worker will cost
you around $4.50 per day (at the current exchange rate) and a journeyman-level
craftsman will cost $15.75 a day.
2. Property
purchase process
Once you’ve
selected the property, you need to contact a notary who will complete the
title search and execute the process. Only a notary—not a lawyer—can close
a property transaction.
There are two
purchase documents in Honduras, an escritura publica and a dominio pleno.
The former is a record of property ownership for properties that already
exist in the public record, while the latter is a document that attempts
to bring land into the public record that’s not already there. Don’t buy
a property using a dominio pleno. If your heart’s set on a property not
in the public record, have the current owner get it registered, and then
buy it with an escritura publica. Title insurance is available, and will
take much of the risk out of buying property in Honduras.
The transaction
costs for property purchase include a registration fee, transfer tax, and
a notary fee, as well as a few other odds and ends. Ron and Janine Goben—who
run the Honduran IL office on Roatan (e-mail: Honduras@InternationalLiving.com)—tell
me that they advise buyers to count on spending 4% of the purchase price.
Pending changes affecting legal fees (introduced in early 2006) may cause
a rise in transaction costs, but at press time the effect, if any, is still
unknown.
If you buy
your property via a Honduran corporation, many lawyers will give you a
package deal, which includes the corporation and the transaction. This
could save on your overall expense.
Foreigners
in Honduras are restricted to buying no more than ¾ acres of land—or
1½ acres for a couple buying the land together. If you’re buying
more than this, you’ll need to buy through a Honduran corporation.
3. Basket of
goods
I didn’t make
any attempt here to find the lowest prices or the most upscale stores.
The following prices were taken at a local supermarket. You’ll notice that
electricity is expensive, as are imported items.
| Rice per pound |
$.27 |
| Corn Flakes,
18 oz |
$1.49 |
| Milk per gallon |
$2.47 |
| Hot dogs 10
pack |
$1.43 |
| Butter per
pound |
$2.32 |
| Pork chops/pound |
$1.58 |
| Fillet mignon/
pound |
$4.21 |
| Chicken, whole/
pound |
$.88 |
| Corn oil per
liter |
$1.54 |
| Mayonnaise400g |
$1 |
| Apples, large
imported each |
$.46 |
| Carrots/pound |
$.58 |
| Onions/pound |
$.58 |
| CocaCola 2ltr |
$.98 |
| Wine, Concha
y Toro Zuñirse |
$6.11 |
| Beer, 6-pack |
$4.42 |
| Marlboro carton
cig |
$10.53 |
| Baccardi rum |
$5.37 |
| Paper towels |
$1.06 |
| Motor Oil,
Quart |
$2.11 |
| Gas regular/gall |
$3.32 |
| Diesel/gall |
$2.81 |
| Electricity/kw |
$.24 |
| Internet cafe/hr |
$.80 |
| Constr.worker/day |
$4.50 |
| Skilled/day |
$15.75 |
4. Honduras quick
facts
Language:
Spanish
Time to Miami:
less than two hours
Time zone:
Central Standard, no DST
Electricity:
110 volts, with a US-style plug
Telephone
country code: 504
Monetary Unit:
Lempira
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