Real Estate Property Investment Series: Focus Costa Rica 2007
By Rhiannon Williamson
Costa Rica has had an active and prosperous property market for at least the last ten years with median market price movements across the country at least trebling in that time, but as recent history has shown us, the appeal of Costa Rica is rising and up to quadruple gains have been achieved in the most actively marketed and targeted real estate investment hotspots such as Guanacaste in the past three years alone.
All economic and political signs point to at least a prosperous short to medium term future for Costa Rica and because the nation’s government is doing all it can to attract even greater levels of foreign direct investment and even more international retirees and expatriates to move to live in Costa Rica, this represents one of the most exciting periods to potentially profit from property in Costa Rica in the country’s history.
At the present time the main demand for properties for sale and rent in Costa Rica is from the North American baby boomer consumer with Northern American and some European travellers making up the strong tourism numbers which support the property investment community by demanding access to any well located buy to let units…but the climate of activity in the property market is developing and 2007 could see one of the most significant periods of development occurring when direct cheap flights from the United Kingdom begin.
From May 2007 Britons, (who are famously hungry for international real estate in the form of investment opportunities or holiday homes in the sun as well as retirement homes), will be able to fly from London to Costa Rica, non-stop, direct and cheaply! This will dramatically increase the numbers of potential buyers arriving in 2007 meaning that investors quick to react to this news could open themselves up an entirely new market to target in Costa Rica.
This new expected explosion of interest will be accompanied by continuing factors that will underpin the ongoing appeal of Costa Rica for all investors and real estate buyers such as the fact the nation is stable, secure and the Costa Rican government is active in the promotion of the nation as an attractive investment hotspot. While the government maintains its focus on improving investment conditions and maintaining the overall attractiveness of the nation, it will continue to be a popular place to invest, retire and even live and work.