Capital: San Salvador
Language(s): Castilian (Official)
Population: Abt. 6.14 million
Total Area: 21,040 km2
GDP (PPP): 2011 estimate
Total: $44.576 billion
Per capita: $7,549
Currency: US dollar (USD)
El Salvador is the smallest and the most densely populated country in Central America. The country's capital city and largest city is San Salvador; Santa Ana and San Miguel are also important cultural and commercial centers in the country as well as Central America.
Many overseas Salvadorians buy property in their home town, but few foreigners have been attracted to buy here. El Salvador is notorious for its extremely violent street gangs, known as 'maras'. Violence between the two biggest maras was so severe that the government had to create two separate prisons for them.
Foreigners can buy property, and can hold dollar accounts, and use these accounts when seeking local financing. There are no restrictions on foreigners buying urban land, but foreigners cannot own rural lands except for industrial purposes. San Salvador is not an expansive city, and buying an apartment there is not pricey. An apartment would typically cost around US$1,200 per square meter (US$115 per square foot).
Gross rental yields are a generous 8.5%, which means it generally makes much more sense to buy than to rent, and to be a landlord than a tenant.