The question on many people’s minds are whether the media hype about how opportunistic the Costa Rica real estate market, is in fact reality and if so…for who?
Now I realize that the source of any information is its weakest point – so with that in mind I will try my hardest to write this article from the most unbiased angle possible and hopefully you, the reader, will appreciate the effort I’ve invested to present a quality and informative piece of literature to help you make a more informed decision when considering investing your hard earned dollars in the Costa Rica real estate market.
For the most part, my market study came bbw cams from the agents themselves. You see I had the pleasure of directly speaking with the country’s brightest and most affluent realtors and agencies…
This is what I’ve concluded:
Without a doubt the real estate market in Costa Rica was hit hard after world markets collapsed and the US entered their worst depression since 1929. There is however anomalies that are a little harder to explain.
Like the fact that after the attacks of September 11, 2001, the increase in foreign investment in to the country went through the roof. It was universal amongst agencies that between the 10 years from 1995-2005, Costa Rica real estate was at its peak momentum.
It’s highly plausible that because of the market collapses and tidal wave of mortgage foreclosures, Americans became uncertain and insecure with investment in their own country and therefore preferred to secure their future utilizing the lucrative Costa Rica real estate market.
Then the ripples of the current world economic crisis hit the shores of Costa Rica in 2008.
Now despite what you may have read, there is no doubt that brokers throughout the nation have dreamt of the lesbea days of real estate past to return. The question is…WHEN?
Time will tell however we can conclude that things are definitively improving when it comes to the sector however the landscape has forever changed – for the better remains to be seen.
Back in the day, buyers coming to Costa Rica were looking for raw land including many large parcels. The most important factor for property buyers back then was the simple request for "big ocean view". These days it’s not that simple.
From changes in government regulations on building and land concessions to the "new age" buyer, the real estate climate has changed and so has the demand.
Even though interest is increasingly improving fake taxi since its all-time low in 2008-09, the attention seems to female agent be more so in the direction of gated and self-sufficient communities. These include free standing villas and condominiums alike. It appears that the sense of community and security, draws the buyers more easily than say a raw chunk of Costa Rican soil.
Bureaucracy is prevalent in Costa Rica. It’s what keeps thousands of unnecessary positions filled. Therefore it’s important to understand that in Costa Rica, when you want something done…you are going to wait. No if, and’s or but’s about it.
Naturally if a potential buyer has the choice between existing amenities or the age old saying…"electricity is just down the road and SHOULD be connect in the next 12 months." – which do you think they will choose?
Not to mentioned the red tape necessary for any building or land clearing in the country. Nope, people want simple. The sooner they can be relaxing in their infinity edge pool overlooking the Pacific…the better.
It’s evident that throughout various sections of the country, the results vary. For example while massagerooms may be witnessing an increase in attention to investment, another developer in Guanacaste may disagree. Overall however it seems that the Central & Southern Pacific coasts of the country are benefiting from an fake agent increase in sales while other sectors, although reporting increases, are a little slower out of the gate.
The hope is that investor confidence will return throughout the country instead of sporadic pockets of activity here and there. The reality however is that simply because one market may be a little lower than the next – you should not ignore either because depressed markets can also produce enormous potential to savvy investors looking for a bargain.
In closing, although reports are showing a slow rise in activity country-wide, the positive light in which to interpret this, is that a rise…any rise…is better than a low. So it’s a safe bet that it might be wise for anyone considering foreign real estate markets to consider the proven and current positive signs that the Costa Rica real estate sector is showing.
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