Retiring Abroad in Granada: New Gentrification in Old Nicaragua

Granada, Nicaragua is a peaceful lakeside city with impossibly charming cobblestone streets and trendy modern restaurants and health spas nestled in adorably restored colonial Spanish buildings. It’s a conservative city that enjoys a certain degree of isolation from Nicaragua’s turbulent revolutionary past. It’s the Nicaragua you could take your elderly mother to. She would have a lovely time.

And that’s what a number of elderly mothers are doing. Retirees from Canada and the United States are flocking to Nicaragua, and Granada in particular, to live out their twilight years on a budget. The AARP lists Granada as one of the best places to retire abroad, citing the city’s beauty, but also it’s affordability. It’s a city where you can live like a king off of social security. They mention one couple that purchased “3,500-square-foot colonial house with patio and pool for $180,000”. Other articles highlight the lack of taxes on foreign investment and real estate purchases. The great recession has led to a number of people trying to live out the American Dream in the hemisphere’s second poorest country.

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