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US$1 equals
14.3 lempiras
I was last here in 1997. I haven't been disappointed since my return. In fact, Roatan is in some ways a better place to live now, thanks to the damage Hurricane Mitch didn't do. Let me explain? Hurricane Mitch misinformation Hurricane Mitch savaged Honduras in 1998. The storm ransacked Guanaja and the mainland, to be more precise. Utila suffered some wave damage, and here on Roatan a few homes on the north coast were lost, a few bridges on the back roads were washed out, and some docks caved in. But that's it. Roatan’s beaches were clean, and its businesses were open within a week. Meanwhile, the government of Honduras did a wonderful job marketing the plight of the nation. And, true enough, the loss on the mainland and Guanaja was tragic. But the government played the game well to get aid money from governments and relief organizations. Mitch actually helped Roatan by adding fresh sand to the beaches and cleaning up the reef; the island's two biggest tourist attractions, but the grim tales of death and destruction in the world press killed the tourism industry. This is either extremely fortunate or unfortunate, depending on your perspective If you were
trying to make a living on the island, either in the tourist trade or,
as in my case, as a property pusher, you more than likely suffered some
dismal months. Business is only now starting to pick up.
Its also fortunate if you had the wisdom to cut through the “party line” and visit here, hotels and resorts offered tremendous discounts. And if you were in the market for buying property, you could have cleaned up. Prices for choice properties dropped as much as 50 percent in the few weeks following the hurricane. Recovery is slow, but sure The selling panic is slowing down. Only those desperately strapped for cash are still cutting their prices in half. But there are still a lot of good deals to be had. When you drive down the paved road, you'll think the entire island is for sale: There are real estate signs everywhere. The islanders who are selling are patient; they’re willing to wait for prices to crawl back up. They're in no rush to rip themselves off by selling too early to foreign speculators A full recovery leading into the next boom seems to be on the horizon. If growth continues on its present course, property values will steadily rise; though more expensive than island property in Nicaragua or even on neighboring Utila, Roatan offers infrastructure, amenities & a solid investment at a reasonable price. What's the proof for my prediction of gradually rising prices? Its really quite simple. First, the hotels are full again. The tourists have come back. And more tourists are on the way: Hyatt and Hilton are building resorts in Crawfish Rock and Diamond Rock. Julio Iglesias and a few other big names are developing a golf resort on the east end of the island. The airport has adopted an “open skies” policy. And cruise ships are stopping in Roatan now almost every day, whereas two years ago they were nowhere to be seen. Roatan has found its way onto the tourist map. An influx of foreigners means more money and more demand for property. And the best news is that its not too late to get in. That said, I will also tell you something else: Be careful. Move slowly
That's my caveat
emptor. But the truth is that, even with its few hassles, Roatan is a great
place to live.
Colby Real
Estate
Roatan bargains on the market right now: North side of Roatan • Brasil Hill-65
acres with an excellent view of both sides of the island. Road access.
Minimum purchase: 4 acres at $10,000 per acre
South side of Roatan • Port Royal:
7 acres-140 feet of beachfront. Hillside ocean views of both sides of the
island. Originally listed for $30,000 per acre, now $85,000 takes it all!
Owner anxious.
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