Costa Rica Real Estate News – MSNBC once labeled Costa Rica the “hottest real estate market on the planet.” This opportunity is still strong. When the real estate crisis occurred in the USA it effected the Costa Rica real estate market as well. However, just like the USA the Costa Rica market has rebounded.
While there are still many Americans buying property, in fact, the majority of expats buying in Costa Rica are from the States, we are also seeing an increase in investments from Canadians and Europeans, namely from Italy, Belgium, and France. The strong Canadian Dollar goes a long way in Costa Rica. European homeowners in Costa Rica have increased by 13% in the last year and it is predicted to increase again in 2014.
Some of the attractive elements of buying in Costa Rica are the climate, cost of living, and quality of healthcare. Closing costs are low, about 3.59% of the purchase price. This figure includes legal fees, a municipal stamp duty, and the transfer tax.
The fastest emerging sub-markets are at the beach, specifically on the Pacific side. The southern Pacific town of Dominical is somewhat under developed and many investors are trying to get in on the ground floor, before it becomes full of high-rises and shopping centers, like we see in northern Guanacaste.
Jaco Costa Rica Real Estate
Another beach town on the rise for new real estate investment and construction is Jaco Beach. The closest beach town to San Jose has recently shed some of their notorious reputation and become more family friendly. As it is with most towns after 10 pm anything goes.
With that being said recent investment in the Jaco area has made the Pacific beach town has made the area more appealing. The infamous Beatle Bar has been shut down. The introduction of Teatro Jaco and restaurants like Graffiti have brought some class to the area. On the horizon Jaco should have its own stadium to host both the Jaco Rays soccer team and events like concerts. Jaco can also boast the coming of 4 Star Resort and Casino with Croc’s Casino Resort by next high season.
With these additions to the area and the ones coming in the future, the Jaco real estate market is booming and the homes for sale are being grabbed quickly. With the market picking up steam more real estate companies are entering this market to help with the growing demand for Jaco real estate; both homes and vacation rentals.