Why Invest?
Honduras a place of great natural attractiveness, and property prices are reasonable, the cost of living is low, and health care is great and economical. On top of that its home to some of the best-preserved Mayan ruins in the world, and, with the second-largest barrier reef on the planet just off its coast, and also offers some of the best scuba diving in the world.
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Market Report
We forecast that the real estate in Honduras is going up in price in many parts of Honduras.
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Economic Overview
Honduras is a country located in Latin America with GDP per capita at US$3,000 per year (2006). It is estimated that there are more than 1.2 million people who are unemployed, the rate of unemployment standing at 27.9%. In 2005 Honduras signed the CAFTA (Free Trade Agreement with USA). In December 2005, Honduras' main seaport Puerto Cortes was included in the U.S. Container Security Initiative.
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Visa/Residency Issues
Visitors to Honduras need a passport valid for six months beyond the arrival date. No visas are required for people who are nationals of Argentina, Australia, Canada, Chile, Costa Rica, El Salvador, Guatemala, Iceland, Japan, Liechtenstein, Malta, Monaco, New Zealand, Nicaragua, Norway, Panama, Poland, Puerto Rico, San Marino, Switzerland, U.K., Uruguay, U.S., and Vatican City, if their stay does not exceed 30 days. A 60-day extension can be granted once inside the country. Citizens of all other countries must obtain a Tourist Card, which can be acquired at Honduran consulates or embassies for only 1 GBP to 2 GBP.
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Getting to Honduras
An approximate flight time to Tegucigalpa from London is 15 hours (There are no direct flights to London; connections are generally via Miami, Houston, Los Angeles or New York.)
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Fees & Taxes
- Attorney's fee is about 2% of the property price.
- The commission of the real estate agent is usually paid by the seller and runs about 10% of the sale price.
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Honduras |
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Basic Information
| Population |
7.2 million (UN 2005) |
| Languages |
Officially Spanish, though many business executives speak English. There are also indigenous dialects. |
| Area |
112,492 sq km |
| Currency |
Lempira (HNL)
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| Dialing Code |
+504 |
| Emergency Services |
119 |
Honduras Overview
Honduras is the second biggest country in Central America. It has colonial villages (Gracias, Comayagua), ancient Maya ruins (Copan), natural parks (Moskitia), and Pacific and Caribbean Sea coastline, and the Bay Islands, with great beaches and coral reefs where snorkeling and diving is a must. The country is neighbored by Guatemala (State in South America) to the northwest, El Salvador to the west and Nicaragua to the southeast.
Average Property Prices
Coming soon......
Buying Process
- Foreigners who wish to buy property in Honduras as individuals are limited to 3,000 square meters of land and must build within three years from the time of purchase.
- In case you are not able to build within 36 months, a fine of 10% of the purchase price will be applied every succeeding year. This limit, however, can be bypassed by forming a Honduran corporation.
- Forming a Honduran corporation does not necessarily mean that you will be doing business. You just need to have legal documents indicating that you represent a corporation.
- To do this, you can hire an attorney (preferably bilingual if you don't speak Spanish) to handle all the legal paperwork in Spanish.
- Your attorney will not only conduct a title search; he will also legally register the property to you through the Escritura Publica or Dominio Plenio. These are public documents that signify ownership of the property.
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