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Rental Costs in Costa Rica on the Rise

Costa Rica News – Rent is rising fast, in fact, faster than the cost of basic goods.

costa rica rentalsThe cost to rent a home or apartment is exceeding the level of inflation seen in the country, according to the Consumer Price Index.

The CPI registered decreases for eight months of 2015 but the rental housing prices consistently rose each of the 12 months. In October, inflation was down .28 percent while rental housing was up .25 percent.

The National Office of Statistics and Census Institute also shows a gap between rental prices and the CPI, which is made up of 315 goods and services that give a good picture of the cost of living and the inflation rate.

There are 263,206 homes being rented, according to the National Household Survey.

There is a law that provides that landlords can increase the monthly rate by 15 percent per year but there is a bill to reform that to make adjustments based on the change in the cost of living.

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