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Guatemala is known in Spanish language as Republica de Guatemala. The land area of Guatemala is about 109,000 sq. km. and the population is around 13,277,000. The capital is Guatemala City and the national language is Spanish. Another 22 indigenous languages are also spoken in this country. Guatemala is classified as a developing country but it is among the ten poorest nations in Latin America.
Guatemala possesses 14 separate eco regions consisting of 5 distinct ecosystems. In spite of the biodiversity, the earthquakes and volcanic eruptions are quite common in this country. Recently, Pacaya volcano erupted on May 27 and the capital city was blanketed with black sand, leaving 8 centimeters of sand and ash. The cleaning work had been continuing, while the international airport was opened after a brief closure. Still, these natural disasters had not discouraged international real estate investors from flocking to Guatemala for obtaining Guatemala real estate for sale and Guatemala rentals for bargain prices. The Guatemala real estate prices had been quite low due to the strong exodus of the local population to several other countries during the civil war and frequent fights between local gangs, with the United States being the major destination for those leaving the country.
The Pacific Coast is within 100 miles from the capital city of Guatemala. This provides a rare opportunity for international real estate investors to actively put their money in Guatemala real estate for sale and Guatemala rentals. The properties vary from vacation homes, large areas of vacant lands, commercial spaces, and beach front properties to urban homes and condos. The global depression of 2008 and the continuous migration of people to other countries had brought down the property prices in Guatemala significantly. These lower prices are actually a boon to international real estate investors to buy Guatemala real estate listings at bargain prices and profit from them in the next five to ten years in the industry does not offer short-term gains but prospects for long-terms profits definitely exist. In particular, Antigua, an enchanting Spanish town, and the areas surrounding it provide substantial Guatemala real estate investment opportunities to international property buyers. Several properties are available at significantly low rates, compared to the prices that prevailed in 2007.
Still, foreign investors would do well to understand the Guatemala real estate laws. Property sales tax is 12% and the annual property tax is also higher. Hence, most properties are registered at one-tenth of the actual selling prices. Corruption is rampant in Guatemala and foreign investors should become accustomed to that. They are allowed to purchase, maintain, and sell Guatemala real estate without any restrictions, except lands near rivers, oceans, and international borders. One main advantage for foreign investors is the law passed by the government in 2001, allowing foreign currencies Guatemala real estate transactions and hence buying properties directly with US dollars is not a problem.
Article Source: sooperarticles.com/real-estate-articles/property-investment-articles/guatemala-real-estate-listings-prospective-long-term-investments-428268.html
About Author:
Taylor White is an international real estate investor and leading the charge at International Real Estate Listings the worldwide leader in Guatemala real estate for sale, Guadeloupe real estate exchanges, and Guatemala rentals. Guatemala real estate owners, agents, and developers are encouraged to create an account, upload an unlimited number of listings, write as much creative property details, include a You Tube property video, and it will be activated as a basic listing for 6 months, free.Author: Taylor White
