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Granada, Nicaragua's colonial jewel, offers attractive house prices compared to many international destinations.
As of September 2025, house prices in Granada range from $45,000 for basic properties to over $300,000 for luxury colonial homes, with most quality houses priced between $80,000 and $200,000. The city center commands premium prices, while outskirts offer more affordable options for budget-conscious buyers.
If you want to go deeper, you can check our pack of documents related to the real estate market in Nicaragua, based on reliable facts and data, not opinions or rumors.
Granada's house market offers excellent value with average prices between $800-$1,200 per square meter depending on location and condition.
Colonial center properties cost significantly more than suburban areas, but overall prices remain highly competitive for international buyers.
| Property Type | Price Range (USD) | Average Size |
|---|---|---|
| 2-Bedroom House | $60,000 - $150,000 | 80-120 m² |
| 3-Bedroom House | $85,000 - $220,000 | 110-160 m² |
| Colonial Center Property | $1,200 - $1,800/m² | Varies |
| Suburban Property | $600 - $900/m² | Varies |
| New Construction | $1,000 - $1,400/m² | Varies |
| Older Properties | $500 - $800/m² | Varies |
| Renovation Costs | $200 - $400/m² | Full renovation |
What's the average price per square meter for a house in Granada right now?
The average price per square meter for houses in Granada currently ranges from $800 to $1,200 as of September 2025.
In the colonial city center, prices reach $1,200 to $1,800 per square meter for well-maintained properties with historic charm. These premium locations offer walkable access to restaurants, markets, and Granada's main attractions.
Suburban areas and neighborhoods outside the immediate center typically cost $600 to $900 per square meter. These areas provide more space for your money while still maintaining good access to the city. Popular residential neighborhoods like Las Colinas and areas near the Malecón fall into this price range.
New construction properties command higher prices at $1,000 to $1,400 per square meter, regardless of location. These homes offer modern amenities, updated electrical and plumbing systems, and often include features like air conditioning and modern kitchens.
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What's the typical total price for a two-bedroom house in Granada?
Two-bedroom houses in Granada typically cost between $60,000 and $150,000 depending on location, condition, and amenities.
Basic two-bedroom homes in suburban areas start around $60,000 to $80,000. These properties usually require some renovation work but offer solid bones and good potential for improvement. They typically measure 80 to 100 square meters.
Mid-range two-bedroom houses in good neighborhoods cost $90,000 to $120,000. These properties are move-in ready with updated kitchens, bathrooms, and reliable utilities. They often include small gardens or courtyards and range from 100 to 120 square meters.
Premium two-bedroom houses in the colonial center or with luxury finishes reach $130,000 to $150,000. These properties feature high-end materials, restored colonial details, and prime locations within walking distance of Granada's main plaza.
What's the typical total price for a three-bedroom house in Granada?
Three-bedroom houses in Granada range from $85,000 to $220,000 with most quality properties priced between $120,000 and $180,000.
Entry-level three-bedroom homes start at $85,000 to $110,000 in suburban areas. These properties typically need renovation work but offer good value for families seeking space and growth potential. Average size ranges from 110 to 140 square meters.
Well-maintained three-bedroom houses in desirable neighborhoods cost $120,000 to $160,000. These homes come with modern amenities, updated systems, and often include features like covered parking, gardens, and terraces. They typically measure 140 to 160 square meters.
Luxury three-bedroom properties in prime locations or with high-end finishes can reach $180,000 to $220,000. These houses often feature swimming pools, extensive gardens, multiple bathrooms, and premium materials throughout.
How much more does it cost to live in the city center compared to the outskirts, in dollars per square meter?
Living in Granada's city center costs approximately $400 to $600 more per square meter compared to suburban areas.
Colonial center properties average $1,200 to $1,800 per square meter, while suburban and outskirt areas typically cost $600 to $900 per square meter. This represents a premium of 60% to 100% for central locations.
The price difference reflects the historic value, walkability, and cultural significance of the colonial center. Central properties often feature original tile work, high ceilings, and architectural details that cannot be replicated in newer developments.
For a 100-square-meter house, choosing the city center over suburbs means paying an additional $40,000 to $60,000. However, central properties often appreciate faster and attract better rental yields for investment purposes.
What's the price difference between newly built houses and older houses in Granada, on average?
| Property Age | Average Price/m² | Condition |
|---|---|---|
| New Construction (0-5 years) | $1,000 - $1,400 | Move-in ready, modern systems |
| Recent Construction (5-15 years) | $800 - $1,200 | Good condition, minor updates needed |
| Older Homes (15-30 years) | $600 - $900 | Renovation recommended |
| Colonial Properties (30+ years) | $500 - $1,200 | Varies widely by restoration level |
| Fixer-Uppers | $300 - $600 | Extensive renovation required |
What's the average size in square meters for houses in the most common price range?
Houses in Granada's most common price range of $100,000 to $160,000 typically measure 120 to 150 square meters.
This size range accommodates most families comfortably with three bedrooms, two bathrooms, a living area, kitchen, and often a small garden or courtyard. These properties represent the sweet spot for both local and international buyers.
Two-bedroom houses in this price range usually measure 100 to 120 square meters, while three-bedroom homes typically span 130 to 160 square meters. The layout often follows traditional Central American design with rooms arranged around a central courtyard.
Larger houses of 160 to 200 square meters typically fall into higher price brackets of $180,000 to $250,000, while smaller properties under 100 square meters generally cost less than $100,000.
What's the minimum budget you'd realistically need to buy a liveable house in Granada?
You realistically need a minimum budget of $65,000 to $80,000 to buy a liveable house in Granada as of September 2025.
At this price point, you can find basic two-bedroom houses in suburban neighborhoods that require minimal work to be habitable. These properties typically have functioning plumbing, electricity, and structural integrity but may need cosmetic improvements.
Properties under $60,000 exist but usually require significant renovation to meet basic living standards. Common issues include outdated electrical systems, plumbing problems, or structural repairs that can add $15,000 to $30,000 to your total investment.
Your minimum budget should also include closing costs of approximately 5% to 8% of the purchase price, plus a renovation buffer of $10,000 to $20,000 for immediate improvements. This brings the realistic minimum total budget to $75,000 to $100,000.
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What's the typical cost of annual property taxes for a house in Granada?
Annual property taxes for houses in Granada typically range from $200 to $800 per year, depending on the property value and location.
Nicaragua's property tax rate is 1% of the assessed property value for properties valued over $30,000. Properties under $30,000 are exempt from property taxes, making smaller homes very affordable for ongoing ownership costs.
A $100,000 house would incur approximately $700 in annual property taxes, while a $150,000 property would cost around $1,200 per year. These rates are significantly lower than most North American and European countries.
Additional municipal fees for services like garbage collection and street maintenance typically add $50 to $150 annually. Property tax payments can be made quarterly or annually, with small discounts available for early payment.
How much should I budget for notary, registration, and other legal fees when buying in Granada?
Budget approximately 6% to 8% of the purchase price for all legal fees, taxes, and closing costs when buying a house in Granada.
Transfer taxes amount to 1.5% of the property value, while notary fees typically cost 1% to 1.5% of the purchase price. Registration fees add another 0.5% to the total cost.
Legal representation is highly recommended and costs 1% to 2% of the purchase price. A qualified lawyer will ensure proper title verification, handle contract negotiations, and manage the closing process safely.
Additional costs include property inspections ($300 to $500), translation services for documents ($200 to $400), and miscellaneous administrative fees ($300 to $600). For a $120,000 house purchase, expect total closing costs of $7,200 to $9,600.
It's something we develop in our Nicaragua property pack.
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Nicaragua versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you're planning to invest there.
What's the average cost of monthly utilities for a house in Granada?
Monthly utilities for a house in Granada typically cost $80 to $150 depending on size, usage, and amenities.
Electricity is the largest expense, ranging from $40 to $80 per month for a typical house with air conditioning usage. Nicaragua's electricity rates are higher than neighboring countries, making energy-efficient appliances and good insulation valuable investments.
Water and sewer services cost $15 to $25 monthly for most households. Internet service ranges from $25 to $50 per month depending on speed and provider, with fiber optic connections available in most areas of Granada.
Additional services like cable TV ($20 to $35), security systems ($15 to $30), and garbage collection ($10 to $15) can bring total monthly utilities to $120 to $180 for a well-equipped household.
What's the average cost per square meter for renovation work in Granada?
Renovation costs in Granada range from $200 to $400 per square meter depending on the scope and quality of work required.
Basic renovations including fresh paint, flooring updates, and minor repairs cost $200 to $250 per square meter. This level of work makes a property immediately liveable and attractive without major structural changes.
Comprehensive renovations with new kitchens, bathrooms, electrical updates, and plumbing improvements cost $300 to $400 per square meter. This includes mid-range materials and professional installation throughout the property.
Luxury renovations with high-end finishes, custom work, and premium materials can reach $450 to $600 per square meter. These projects often include features like imported tiles, hardwood floors, and designer fixtures.
Labor costs in Granada are significantly lower than North American standards, making extensive renovations financially attractive for creating your ideal home.
How much could I expect to pay in total if I buy a 100-square-meter house in Granada and fully renovate it?
A complete purchase and renovation project for a 100-square-meter house in Granada typically costs $130,000 to $200,000 total.
Starting with a basic property at $800 per square meter ($80,000), adding comprehensive renovation at $350 per square meter ($35,000), plus closing costs ($6,000), brings the total to approximately $121,000 for a fully updated home.
For a higher-quality base property at $1,000 per square meter ($100,000), with luxury renovations at $450 per square meter ($45,000), plus closing costs ($8,000), expect a total investment of around $153,000.
Premium colonial properties requiring restoration can reach $180,000 to $220,000 total, but result in unique homes with exceptional character and strong appreciation potential. These projects often take 6 to 12 months to complete depending on scope and complexity.
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Conclusion
This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.
Granada's real estate market offers excellent value for international buyers seeking affordable colonial charm in Central America.
With careful property selection and budgeting for renovations, buyers can create beautiful homes while building equity in an emerging market.