“So how much is it to buy an island?” the lady from Vancouver asks.
In most places, this sort of question would be met by a response containing horrific numbers.
“About $140,000. That’s with the house on it,” comes the boatman’s reply.
“Jeez! I’ll buy three,” the retiree from Atlanta blusters.
And, to be fair to him, that price does seem outrageously cheap.
Islands on Lake Nicaragua
It’s not as if the islands are in an iffy location. Las Isletas sit in a heart-meltingly beautiful spot, just off the western shore of Lake Cocibolca — better known as Lake Nicaragua.
Flocks of egrets flood from tree to tree when disturbed. Ospreys perch on high branches scanning for lunch. The occasional turtle shell bobs up through the water.
Tourist boats chug around on two-hour tours from Granada, but they’re not the only vessels on the lake. Most boats belong to residents. They’re roughly carved from wood and have no engine.
One drifts past with a man rowing hard, a bicycle balanced on the back.
“The people row to the dock, then cycle into town for supplies,” says the boatman.
Life on Las Isletas
Around 1,500 people live on Las Isletas, though not all year-round. Few places offer a clearer snapshot of Nicaragua’s divide between rich and poor.
Most of the islets are uninhabited. Of those with homes, many are modest and functional. For some residents, this is simply home. It’s where they’ve always lived.
For others, the islands are holiday properties.
Island one-upmanship
There’s a subtle game of one-upmanship playing out across the archipelago.
One island may have a motorised fishing boat moored outside. The next boasts a small yacht. Some properties have pools. Others attempt Thai-style temples with questionable architectural accuracy.
One island features a semi-outdoor gym beneath a roof, complete with bells in decorative arches that look suspiciously designed for wedding photos.
The boatman reels off the nationalities of island owners: French, American, Canadian. But the most lavish properties are locally owned.
Two powerful families are mentioned. One built a fortune on instant coffee. Another has fingers in nearly every pie — shipping, rum and more. These are names long associated with influence behind Nicaragua’s political scenes.
A status symbol — but only just
Despite the wealth on display, there are no helipads or gold-plated extravagances. Plenty of “For Sale” signs dot the islands.
Owning an island here is a minor status symbol — a box to tick. Most houses sit empty for much of the year, maintained by caretakers.
The mix is bewildering: affordable island-shaped investments, playgrounds for the wealthy and everyday family homes sharing the same stretch of water.
Temptation at sunset
As the sun drops behind the mainland, casting golden light across the water and illuminating Volcan Mombacho in the distance, the confusion fades.
For a moment, the idea of scraping together $140,000 doesn’t seem quite so far-fetched.
