Dominical Real Estate

Real Estate For Sale In Southern Costa Rica
Welcome to Dominical Real Estate Sign in | Help

Dominical Real Estate

Costa Rica Real Estate: Stable Demand despite Modest Growth Prospects

Posted by Saul Rasminsky

With its breathtaking natural beauty, high quality of life, and remarkable economic and political stability, it’s no wonder that a lot of folks looking for investment or retirement properties seek to own a piece of real estate in Costa Rica, also known as the Switzerland of Central America. Quite a number of businesses are also drawn to this tiny nation (bordered by Nicaragua to the north and Panama to the southeast) due to the relative ease with which they can set up operations, as well as the highly skilled workforce and the general affordability of commercial real estate.
 
Costa Rica Real Estate: Stable Demand despite Modest Growth Prospects
 
Tourism is another major contributor the country’s economy, with as many as 2.3 million tourists arriving each year and consequently generating about 2.2 million dollars in revenue. In an article for World Property Channel, Michael Klein sums up the recent developments in Costa Rica’s real estate market as follows:

"While the first-boom buyers bought for investment, buyers now are buying for lifestyle and income. Interest in land or plots to build on in particular is predicted to see a larger focus during the remainder of this decade. Costa Rica's inventory of both mountain and coastal land plots and parcels is larger this decade as many first-boom investors have now shifted money into land purchases rather than more condominium development and resales. 

Evidence of a rapid recovery or the start of a "second boom" can be found in the Costa Rica news media. Recent surveys show an uptick in 2013 inventories and upward trend in sales and prices, citing better international awareness, buyer demographics, improved U.S. economy and higher consumer confidence as primary factors."

While Klein maintains that the current real estate boom is not as spectacular as the one that took place before the global economic slowdown, private and commercial real estate in Costa Rica nonetheless remains a hot commodity. The key is to time one’s purchase precisely and to snap up available land or property while prices are still favorable. Interested investors can enjoy a wide range of choices when it comes to prime properties along the Caribbean and Pacific coastlines.

Property buyers are also advised to do business with reputable Costa Rica real estate agents who know the lay of the land and either originate from or have lived in the country for quite some time. Experts from trusted firms like Dominical Real Estate can offer interested investors access to a convenient Multiple Listing Service that lets them search for available residential, commercial, or ranch properties.


(Article Information and Image from Second Boom in Costa Rica: Slow and Steady, World Property Channel, 19 December 2013)
Published Friday, January 03, 2014 3:39 AM by Saul Rasminsky
Filed under:

Comments

No Comments
New Comments to this post are disabled