Wandering the neighborhoods, passing the houses with their balconies and ornate ironwork, you begin to believe these prophecies. There’s already an art school and a small art gallery. Last night at our hotel I met an American artist from Los Angeles. He’s thinking he’d like to spend time here painting the old buildings and the park. He’s traveling with a friend, another artist, an American now living in Costa Rica where he has started an artists’ colony. Maybe, they explain, they’ll try the same thing in Granada.

Of course, there’s a long road from here to there. Right now, this is a Third-World city. In some areas, sewage still runs through the gutters. 

A taste for free markets

There’s worry that next year’s election may interfere with the country’s (and this city’s) progress. Right now, there’s a lot of posturing, especially by the current president who is very unhappy he can’t run for another term. However, everyone we’ve spoken with agrees that the Nicaraguans won’t tolerate any serious troubles. The current battles being waged in the press are one thing. Real battles that might interrupt the flow of revenues or aid…these won’t be allowed. Nicaraguans (and Granadians) have gotten a taste of what capitalism can mean. And they seem to like the flavor. The concern over the approaching election could work to your advantage as a would-be investor. Prices are holding steady right now. But the (reasonable) expectation is that after the election, assuming all goes peacefully, prices will jump and then continue to appreciate. Right now could be the time to buy.

We’ve invested ourselves, as you know. About four years ago, we purchased, with friends and colleagues, a tract of land along the southern Pacific coast. Now we’re opening an office here in Granada. We’re committed to Nicaragua. We think with good reason.

Colonial mansions from $80,000

One more thing: If the old Spanish colonial structures in Granada appeal to you as much as they appeal to me…you can buy one for $80,000 to $100,000 (it’ll need a lot of work)… or you can spend as much as $200,000. A few years ago, these places sold for $40,000 or $50,000, or less. The trouble is there aren’t many of them. The city burned in 1856 and was rebuilt according to the same plan. Most of the colonial-style houses are 150 years old. You can count on your fingers those that date back more than 400 years.

Next time I visit I’m going to travel to the little towns just outside Granada. These are built according to the same plan as Granada, with a central plaza surrounded by colonial buildings with long, open porches. And in these towns, I’m told, you can buy these grand old houses for $50,000 or less. I’m interested to know more. 

Una casa for rent?

The Dells and I came to Granada with the intention of finding a place to rent for the new IL office. Westarted by visiting the real-estate agents in town. One of them stood us up. Another had only his own house available for rent.

We had much better luck asking around in the local restaurants and hotels. In each case, someone knew someone who might know of a house for rent. Most rentals are never advertised as such and certainly never make it to the real estate agents’ books. The Nicaraguans are proud and private. Typically, if they want to rent or to sell a property, they tell a handful of people and rely on word-of-mouth to find a renter or a buyer. To give yourself a chance to get to know the neighborhoods it’s advisable to rent before you buy. Three hundred dollars a month is a typical rent in the center of town. The locals may quote higher rents to you, a gringo. 

The nicest streets in Granada, outside the central downtown area, are Calle Calzada, Calle Atraezada, and Calle Galdeva, known as “The Streets of the Millionaires.” These days, though, there aren’t any millionaires living along these broad, tree-lined avenues. The once-grand houses still standing are nearly dilapidated. 

At points, near-shacks have been erected in between. Still, the prices can be right. We saw one colonial-style house with a gated entrance, a large front veranda, and some nice features inside, available for $400 a month. This place, though, like the others, needs serious renovation.
To rent in Nicaragua you need a standard rental agreement drawn up and notarized by an attorney and then filed with the proper government agency. Our attorney in Managua can help with this. Contact Dr. Modesto Emilio Barrios at barrios@ibw.com.ni - 

The easiest, safest way to rent, though, is with the help of David and Lydia Dell. They are packing as I write this, preparing for their move, and will be in residence in Granada by the end of September. They’re there on your behalf. 

Let them help. Visit them at 140 Arsenal, Granada, Nicaragua. Or send them an 
e-mail at Nicaragua@InternationalLiving.com - 

Where to stay…where to eat

Granada is moving up-market. New restaurants and hotels are being opened, mostly by foreign investors, every month.
Etienne Vanoye, from Lilles, France, opened the Hotel Colonial one month ago. Located a half-block off the main square, this is a beautifully designed and decorated place with 26 rooms, including suites and condos for longer-term stays. For as little as $50 a night (for a single room), you can enjoy relative luxury and a prime location. The large, comfortable suites go for $100 a night. I wish we’d known about this place before booking at the Alhambra around the corner. For reservations at the Colonial, tel. (505)552-7581, fax 7299, e-mail: hotelcolonialgra@nicanet.com.ni - 
Herm Hamhuis, a friend living in San Juan del Sur, makes two other hotel recommendations for Granada: the Hotel Italiano, also new and only $35 per night...and also for sale...and the upscale and beautiful La Casona de los Estrada, a small luxury hotel just off the main square. This is one of the nicest hotels in Nicaragua, Herm says. It has a big, well-planted, interior courtyard, and large, well-decorated rooms. They want $115 a night.
The best restaurant in town is the Mediterraneo, on Calle el Caimito. It has a good menu, with daily seafood specials. But the best part is the proprietress, who speaks good English and who has a special interest in helping foreigners adjust to life in Granada. She has been a great source of information and contacts for the Dells and me. The real estate agents in town told us they had no rentals on their books. Enriqueta introduced us to a local gentleman who knew of four houses for rent in and around town.
Also good is the Restaurante Dona Conchi’s, on Calle Caimito de la Alcadia. Dona Conchi moved to Granada with Enriqueta (the woman from the Restaurante Mediterraneo) and Enriqueta’s daughter in the early 1990s. The three opened The Mediterraneo together. About a year-and-a-half ago, Dona struck out on her own and opened what is the second best restaurant in the city. The menus are very different. Mediterraneo, despite the name, features more typical Nicaraguan specialties. Dona’s restaurant specializes in Mediterranean fare.
Conchi’s is distinguished, though, primarily by the bullet holes in its walls. Legend has it that William Walker was captured here and stood up against these walls for execution. He stood just 5'2" tall. The marksmen ordered to carry out his execution, evidently, didn’t allow for this fact. Or maybe they were just very bad shots. The holes their bullets left are all at the six-foot mark or higher. William handily escaped and fled. We sat the table just beneath the bullet holes and the plaque that tells the story.