Real Estate Investment
It seems that everybody and everything has been influenced by the recession in the world economy. And Costa Rica is not an exception. Real estate sales of single family houses for expats, and condominiums have decreased significantly and many tropical homes located in some areas along the Pacific coast are being sold at steep discounts.
Why was real estate there so popular in the firsts place?
This small Latin American country gained a crazy popularity because of its picturesque coastal landscape, wonderful diverse flora and fauna and tropical beaches. Actually, though it is a very small country and can be compared to West Virginia, about one of every five animal species and plant on earth can be found in it.
Moreover, with Pacific and Atlantic oceans bordering, there is well-known Costa Rica fishing, surfing, sunsets and diving.
Many tourists come to Costa Rica with pleasure to spend their vacations at one of the most famous places in Latin America. The greater part of visitors is from Canada and America, but there are lots of European tourists as well. This caused a significant rise in values of Costa Rica real estate over the last decade.
Besides, Costa Rica was one of the first among the countries who realized the significance of environmental development. That attracted many tourists. Constructions of single family houses, condo and subdivisions catering to expats have changed considerably lately along the Gold Coast. Prices on lands have been also increased.
Moreover, many Canadians, Americans and Europeans consider this place as one of the best to be chosen to spend their retirement period. The country has magnificent sandy and sunny beaches, great climate, beautiful mountains, stable democracy, perfect medical facilities and low crime rate.
What parts of Costa Rica have been considered the most popular for investor or buyers of Costa Rica real estate?
The central and north parts of the Pacific coast with favourable climate and many attractions have gained a great popularity among the Costa Rica tourists. The necessity for the increasing arrival of tourists and expat community has caused a significant rise in value of houses there. Restaurants, hotels, resorts and bars have been greatly developed. That influenced property value.
San Jose has also been one of the most popular places as there are many shops, malls and of course because of a wonderful weather.
What are the future prospects?
Despite the current economic situation in the West, a considerable turn around in Costa Rica real estate is observed.
There are actually two reasons for this. The first one is that in Comparison to North America and Europe real estate values, especially on tropical and sunny coastlines are not yet out of this world, just a part of the cost elsewhere.
And the second reason is that the place attracts many foreign investors and countries.
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