Realestate in Costa Rica

Realestate in Costa Rica has been steadily rising in value in recent years, and current projections are for continued strong growth for some time to come. In the past 5 years values have appreciated over 32% on average, and over 45% last year alone. In the central pacific region, which is currently seeing much development activity, appreciation of property values last year was over 100%.

Property laws in Costa Rica although similar to those in the US and Canada have their own nuances that you need to be aware of. And real estate transactions for foreigners are relatively straight forward, with language being the primary barrier.

As development continues moving south and with the announcement of a new international airport, and several marinas and high end resorts being built in the south, that area is poised to provide significant real estate returns. Looking at Golfito real estate, prices are still relatively low and just starting to climb. Both this area and the central pacific provide a number of pre-development opportunities.

The big real estate players are now also taking notice of the opportunities in Costa Rica. Century 21 Real Estate recently provided the following opinion regarding realestate in Costa Rica. “In view of the expected continued growth in this area, our experience suggests that a return of 200% over the next 5 years is possible” Century 21 Real Estate

Costa Rica continues to be a very attractive destination for vacationers and retirees alike. Drawn to it’s pleasant climate and unique physical features, people are discovering that the country is not only stable and welcoming to foreigners, but it can also offer an improved lifestyle at a much lower cost of living.

A huge demand from baby boomers looking for comfortable and affordable second homes for vacation and retirement is also expected. Here are some statistics: There are over 85 million baby boomers in North America alone, the first of which turned 60 last year. 56 years old is the peak spending time for 2nd home purchases. 59% of the younger boomers age 41-49 also intend to buy a new home for retirement.

And Costa Rica is a highly desirable destination not only for North Americans, but also for Europeans. Tourism and eco-tourism continues to grow steadily in the country. Considering 5 years ago there were only 27 flights per week to Costa Rica and now there are over 40 international flights each week, this destination is truly becoming more and more popular all the time. Tourism from both North America and Europe is increasing with new flights recently announced from US carriers. There are now direct flights from Spain and in May of this year, a direct flight from London Gatwick began operations. I know the last time I was there I met several people from the UK, one couple from Spain and numerous others from Canada and the US.

Here are various articles about Realestate in Costa Rica published in the “Tico Times”, a Costa Rica newspaper published in English for the growing foreign expat community that lives here. So also looking from an investor’s point of view when we know that values grow where people and jobs go, it points to a very bright future for Costa Rica real estate values.

Check out more information on where the government is investing in infrastructure.

And look at some of the prime properties available in this area.

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