Costa Rica News – Foreign investment can have a numerous set of effects on the real estate market in any given country. In Costa Rica, recent investment from foreigners has greatly encouraged the market. The stimulation was profound because of $337 million dollars fed into the nation’s economy in only the first quarter of this year. The purchases in these first three months were up by 13 percent from the same time last year.
Many foreigners buy houses to “flip” for a quick profit or property in soon-to-be-popular areas as a longer-term investment. Business start-ups are also accounted for in common real estate investments.
Home purchases seem to be focused on the Pacific coast, while in the capital, business purchases were more common. The Central Bank, which reported the $377 million statistic, stated that the “quarterly increase has been the highest since the year 2000.”
Real Estate agents seem to unanimously feel that the area around the airport in Liberia will be the newest hot spot for foreign development. Whether it’s commercial real estate, developmental projects, or existing beautiful beach homes, the real estate market is soaring once again. Seeing this increase in the profitability of real estate in Costa Rica makes many investors want to get in on the action.
The most expensive and luxurious houses in Central America are found in San Jose, Costa Rica. Just keep in mind to be cautious when it comes to choosing reputable agents and contractors, as the norm throughout the rest of the country is to work at a slower pace and deliver a poorer quality.