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Granada's real estate market has experienced significant growth over the past decade, with property prices increasing by approximately 50-55% since 2015. The average price per square meter for apartments in Granada stands at €2,507 as of September 2025, making it an attractive investment destination in Nicaragua's growing property sector.
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.
Property prices in Granada range from €1,392/m² in outer areas to €2,848/m² in the city center, with typical closing costs adding 10-13% to the purchase price.
Monthly rental yields vary significantly, with one-bedroom apartments renting for €600-€1,200 depending on location, while mortgage payments typically range from €950-€1,350 for standard properties.
| Property Type | Average Price/m² | Typical Total Price | Monthly Rent Range |
|---|---|---|---|
| City Center Apartment | €2,848 | €142,400 (1-bed) | €900-€1,200 |
| Outside Center Apartment | €1,392 | €69,600 (1-bed) | €600-€800 |
| Small Houses | €2,507 | €150,000-€320,000 | €1,300-€1,800 |
| Large Family Homes | €2,600-€2,900 | €350,000-€600,000+ | €1,800-€2,300 |
| New Construction | €2,700-€2,900 | €270,000+ (100m²) | Premium rates |
| Urban Land | €175-€500 | €70,000+ (plot) | N/A |
What's the average price per square meter for buying an apartment in Granada right now?
The average price per square meter for apartments in Granada is €2,507 as of September 2025.
This figure represents the citywide average, but prices vary significantly depending on the specific neighborhood and proximity to Granada's historic center. Prime locations near the cathedral and main tourist areas command higher prices, while residential areas further from the center offer more affordable options.
Market data shows that Granada's apartment prices have maintained steady growth throughout 2025, with a year-over-year increase of approximately 16.7%. The €2,507/m² average places Granada competitively within Nicaragua's real estate market, offering good value compared to other Central American destinations.
New developments and renovated properties typically exceed this average, while older buildings requiring renovation fall below it. The price variation reflects Granada's diverse housing stock, from colonial-era buildings to modern constructions.
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What's the average price per square meter for buying a house in Granada right now?
Houses in Granada average around €2,507 per square meter within the city limits, matching the apartment market average.
However, this price varies considerably based on property type and location. Traditional townhomes and smaller houses typically align with this average, while larger properties with gardens or premium locations can reach €2,600-€2,900 per square meter.
Outside Granada city proper, house prices in the broader province average €1,619 per square meter, offering significant savings for buyers willing to locate in surrounding areas. These properties often include larger lots and more privacy while maintaining reasonable access to Granada's amenities.
The house market in Granada benefits from strong international interest, particularly from North American and European buyers seeking second homes or investment properties. This demand supports price stability and growth potential.
How much does a typical one-bedroom apartment cost to buy in the city center compared to outside the center?
City center one-bedroom apartments cost approximately €142,400 for a typical 50-square-meter unit, based on the premium city center rate of €2,848 per square meter.
Outside the center, the same 50-square-meter one-bedroom apartment costs around €69,600, utilizing the lower rate of €1,392 per square meter found in peripheral neighborhoods. This represents a savings of over €70,000 by choosing a location outside the immediate city center.
Modern one-bedroom apartments in prime city center locations, particularly those with updated finishes and amenities, typically list between €130,000-€150,000. These properties often feature colonial architecture details, proximity to restaurants and cultural sites, and walkability to major attractions.
In contrast, one-bedroom units in outer neighborhoods range from €65,000-€90,000, depending on age and condition. While these properties require transportation to reach the city center, they offer better value for money and often include parking or outdoor space.
How much does a typical three-bedroom apartment cost to buy in the city center compared to outside the center?
| Location | Size Range | Price Range | Price per m² |
|---|---|---|---|
| City Center | 90-120m² | €260,000-€340,000 | €2,700-€2,850 |
| Outside Center | 90-120m² | €120,000-€170,000 | €1,400-€1,600 |
| Premium City Center | 90-120m² | €340,000+ | €2,850+ |
| Budget Outside Areas | 90-120m² | €120,000-€140,000 | €1,400-€1,500 |
| Mid-Range Suburbs | 90-120m² | €140,000-€170,000 | €1,500-€1,600 |
What's the typical total purchase price range for small houses versus larger family homes in Granada?
Small houses and traditional townhomes in Granada typically cost between €150,000-€320,000.
These properties usually range from 80-150 square meters and often feature traditional architecture, central courtyards, and proximity to Granada's historic areas. Many small houses require some renovation but offer excellent potential for customization and value appreciation.
Large family homes and villas command €350,000-€600,000 or more, depending on location, size, and amenities. These properties typically exceed 200 square meters and may include gardens, pools, or other luxury features that appeal to international buyers.
The price differential reflects not only size but also the level of finishes, location desirability, and additional features. Premium family homes in the most sought-after neighborhoods can exceed €600,000, particularly those with exceptional views or extensive grounds.
Investment potential varies by property type, with smaller houses often providing better rental yields due to lower purchase prices, while larger homes attract higher-end tenants and offer greater appreciation potential.
How much do newly built properties cost compared to older ones, per square meter and in total?
New construction properties in Granada cost €2,700-€2,900 per square meter, representing a premium of €200-€400 over the general market average.
For comparison, resale apartments and houses typically range from €1,800-€2,500 per square meter, depending on age, condition, and location. This creates a significant price gap between new and existing properties, with new builds commanding approximately 15-20% higher prices.
A newly built 100-square-meter apartment in the center costs €270,000-€290,000, while an older 100-square-meter apartment in a similar location ranges from €180,000-€240,000. The price difference reflects modern amenities, updated building codes, and warranty protections that come with new construction.
New developments often include contemporary features such as air conditioning, modern kitchens, and efficient layouts that older properties may lack. However, older properties frequently offer unique architectural details and larger rooms that appeal to certain buyers.
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What are the average monthly mortgage payments for a standard apartment or house, assuming a 20% down payment and a 25-year loan?
Monthly mortgage payments for a €250,000 property with 20% down (€200,000 loan) average €950-€980 per month, assuming a 3% interest rate over 25 years.
For properties in the €275,000-€300,000 range, monthly payments typically range from €1,200-€1,350, reflecting the higher loan amounts required. These calculations assume standard lending terms available to qualified international buyers in Nicaragua's mortgage market.
A typical €200,000 property purchase would require a €40,000 down payment, leaving €160,000 to finance. At current market rates, this translates to approximately €950 monthly, making homeownership accessible for many international buyers with steady income streams.
Interest rates and terms vary significantly between local and international lenders, with some offering more favorable terms to foreign buyers who can demonstrate income stability. Shopping between lenders can result in savings of several hundred euros per month on mortgage payments.
How much are annual property taxes for an average apartment and for an average house in Granada?
Annual property taxes (IBI) in Granada typically range from 0.4-1.1% of the cadastral value, which is usually significantly lower than market value.
Most apartment owners pay €200-€800 annually, while house owners typically pay €400-€1,200 per year, depending on the property's location, size, and assessed value. Granada city properties tend toward the upper half of these ranges due to their prime locations and higher assessments.
The cadastral value system in Nicaragua often results in property tax assessments well below market values, making annual tax obligations quite manageable for most property owners. This represents a significant advantage compared to many other international real estate markets.
Property taxes fund local services and infrastructure improvements, and Granada's growing tax base supports continued development of amenities that benefit property owners. Regular payments help maintain good standing for future property transactions.
What's the average cost per square meter of land for building a house in Granada?
Urban buildable land in Granada averages €175-€200 per square meter, though prices vary significantly based on location and development potential.
Prime buildable lots in central or highly desirable areas can exceed €350-€500 per square meter, particularly those with views, large sizes, or proximity to major attractions. These premium lots often justify their higher costs through superior long-term appreciation potential.
Standard residential lots suitable for family homes typically cost €175-€250 per square meter, providing good value for custom construction projects. These lots usually include basic infrastructure access and permit approval processes that streamline the building timeline.
Buyers should factor in additional costs for site preparation, utility connections, and permit fees when budgeting for land purchases. Total development costs often double the initial land price by the time construction is complete.
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How much are notary, registration, and other closing fees when buying property in Granada, both as a percentage and as a typical total in euros?
Total closing costs in Granada typically range from 10-13% of the purchase price, covering all necessary fees and taxes for property transfer.
Notary fees range from 0.5-1% of the purchase price, while registration fees add another 0.2-0.4%. For secondhand properties, transfer taxes (ITP) typically cost 7-8% in the Andalusia region, while new builds incur 10% VAT plus 1.2-1.5% stamp duty.
For a €250,000 apartment purchase, total closing costs typically range from €25,000-€32,500, including all fees, taxes, and professional services required to complete the transaction. This represents a significant upfront cost that buyers must budget beyond the property price and down payment.
Additional costs may include property inspections, legal representation, and currency exchange fees for international buyers. Working with experienced local professionals helps ensure all requirements are met efficiently and cost-effectively.
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What's the average monthly rent for similar apartments and houses, so buyers can compare investment potential?
One-bedroom apartments in Granada's city center rent for €900-€1,200 per month, while similar units outside the center command €600-€800 monthly.
Three-bedroom apartments in central locations typically rent for €1,200-€1,700 per month, reflecting strong demand from families and professionals seeking proximity to Granada's amenities and employment opportunities.
Houses suitable for families rent between €1,300-€2,300 per month, depending on size, location, and included amenities. Larger family homes with gardens or pools command premium rents, particularly during Granada's peak tourist seasons.
Rental yields vary significantly by property type and location, with smaller apartments in good locations often providing the highest returns relative to purchase price. Investors should consider seasonal variations, as Granada's tourism industry influences rental demand throughout the year.
How much have property prices in Granada increased or decreased over the last 5 and 10 years, in percentage terms and in euros?
Granada property prices have increased 25-35% over the past five years (2020-2025), rising from approximately €1,900 per square meter in 2020 to €2,507 per square meter in 2025.
Over the past decade (2015-2025), prices have increased approximately 50-55%, representing substantial growth driven by economic recovery, increased tourism, and growing international buyer interest. This translates to an increase of roughly €900 per square meter over ten years.
Annual growth in 2024-2025 reached approximately 16.7%, reflecting accelerated appreciation in Granada's real estate market. This growth rate significantly exceeds inflation and demonstrates the market's strong momentum.
The consistent upward trajectory reflects Granada's growing reputation as a desirable destination for both residents and investors. Factors supporting continued growth include infrastructure improvements, increased international accessibility, and Nicaragua's stable political environment.
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 compelling opportunities for both investors and residents, with property prices showing consistent growth over the past decade.
The significant price variations between city center and peripheral locations provide options for different budgets, while strong rental demand supports investment potential across various property types.
Sources
- Indomio Granada Capital Market Report
- SpainEasy Granada Real Estate Guide
- Indomio Granada Province Analysis
- SpainHouses Granada Price Data
- Idealista New vs Used Property Prices
- Foxes Mortgage Calculator
- Tranio Spain Tax Guide
- Health Plan Spain IBI Tax Guide
- Global Property Guide Spain Price History
- Luxton Legal Spain Buying Costs