Lot Sales up 238% in 2010 in Roatan

The real estate market in Honduras, specifically Roatan has seen a strong resurgence in 2010 compared to 2009.  Longtime Roatan Realtor, TJ Lynch in his Youtube video show sales of Private Residential Lots up 238% and prices of the lots up by 105%, in 2010.

The primary driver for Roatan growth has been the tourism economy generated by the passenger Cruise Ship industry.  USA Today reports, Roatan is expected to receive over 730,000 visitors from the cruise ships in 2011.

Historical MLS data of the West Bay Road, show a residential lot approximately 1.5 acres in size with a view, listed in 2002 for $48k.  A comparable property listed for over $300k in 2010.  Depending on the development, a serviced lot in Roatan now will cost between $80k and $300k. Meanwhile a 2-3 bedroom home will run you $300-450k in the mountain and $500-1,500,000 along the beachfront.

http://www.youtube.com/watch?v=3hPWNoorECM

Roatan is more developed and mature with a consistent level of economic activity, however the prices are also much higher there than Trujillo.  A serviced one acre lot with panoramic views of the Caribbean Sea in Alta Vista Mountain is under $50k. Randy Jorgensen, the Developer, has suppressed values of property by more than 50% to comparable property in other parts of Honduras.  This is so buyers can take advantage and be part of the emerging market in Trujillo.

But it can be for only so long!  With Banana Coast Cruise Terminal coming into operation in the 2012 2013 cruise season, it is a matter of time before Trujillo property owners see the same economic activity as Roatan.

Compare buying a finished house in Roatan for a price of $300-450k, it is much cheaper to build your dream home in Trujillo.  A 3 bedroom home on the mountainside with a swimming pool can be built for under $200,000. Speak with Cathy McLarney (cathy@jaguarcon.com) at Jaguar Construction for more information.

 

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