Costa Rica Real Estate

The Costa Rica Real Estate market is hot right now and selling at higher prices than usual.  There are a few reasons for this, but don’t let the higher prices sway you from taking an interest in the Costa Rican real estate market.  It looks like properties will continue to sell well and investors and property owners can stand to make some money on resale of the property.  Not to mention, who wouldn’t like to spend some time in the tropical, sunny isthmus of this Central American country. 

One reason that the price of property in Costa Rica is rising is due to recently popularity with tourists and vacation rentals in Guanacaste.  The cruise lines are now sending ships to the Caribbean side of Costa Rica to dock in Limón.  Since its incarnation as a port of call cruise companies such as; Carnival, Celebrity, Cunard, Holland America, Norwegian, Princess and Royal Caribbean have all been stopping by for a few days so visitors can enjoy some of Costa Rica’s sites and sounds.  Visitors have been seeing the attractions of Costa Rica.  So much so that they are starting to buy up vacation property in the country.  Naturally real estate in all of the major tourist areas is being bought up at higher prices than before, especially on the Caribbean side of the Costa Rica where tourism is relatively new.   

Also Costa Rica is growing as a nation at a steady rate.  They are considered the most stable government in Central America having enjoyed a democratic republic for about sixty years.  Currently the government is moving to help Costa Rica grow economically.  In 1995, they changed the financing laws so private banking could begin, previously only state owned banks could offer savings and checking accounts.  Education and literacy is also very high in the country, over 90% of the citizens can read and most finish schooling through the 11^th grade and receive a certificate of completion from the state.  If they wish citizens can continue on through the 12^th grade and apply for a United States High School Diploma and many do.  This high level of education in a Central American country makes Costa Rica appealing for companies looking to outsource work and save money.  So in fact companies are also buying up Costa Rica real estate for future use.  You should continue to see advances in Costa Rican economy since the government has implemented a seven year plan to help Costa Rica develop in the technology sector. 

Lastly, Costa Rica is proud of the varied jungle landscape that runs across its countryside. So much so that about 25% of Costa Rican land has been made into protected parks and reserves.  One fourth of the country has been set aside for preservation.  So naturally any Costa Rica land that comes available is going to be slightly inflated in price, as investors are more aware of the limited supply of land in the country.   

Primarily, Costa Rica real estate costs more because tourism is a growing industry and investors want to take advantage of the greater buying power of their foreign dollars while they still can.  So should you if you want a good deal on a Costa Rica condo.