The CIA world factbook clearly states that in its opinion Costa
Rica is a 'Central American success story', and the government
of Costa Rica is keen to expand on the country's success and
have announced the implementation of a seven year plan for the
economic expansion of the country.
To this end they are actively encouraging international real
estate investors and those looking for a retirement or second
home overseas to come to Costa Rica and explore its exciting and
affordable property market.
The Costa Rican real estate market is one of the most exciting
in Central and South America right now as a direct result of the
Costa Rican government's commitment to promoting the property
sector. With the implementation of a series of tax breaks and
investment incentives available to overseas real estate buyers
the success of the Costa Rican property market is practically
guaranteed.
For those looking purely for real estate investment opportunity,
Costa Rica offers two main angles for property investors to
explore: -
Firstly as the natural beauty of Costa Rica proves an
irresistible draw for more and more travelers and those in
search of the perfect getaway, so the demand for rental and
hotel accommodation in Costa Rica is on the increase. The supply
of quality accommodation in Costa Rica cannot meet current
demand and this situation is likely to deteriorate as the
popularity of the country increases. The government is well
aware of this fact and is keen to attract those wishing to
develop specifically for the tourism market.
Secondly Costa Rica is becoming increasingly popular with the
soon to retire US baby boomers who are actively seeking an
affordable and attractive location in which to retire. Because
Costa Rica enjoys relatively low crime, is neutral, has a
relatively high standard and low cost of living it is gaining a
reputation among pre-retirees as a must-consider destination.
There is therefore room for the development of real estate to
suit this particular market or for the purchase and long term
lease of real estate to this market. This particular group of
people also represents a strong resale demand for those who buy
now, improve property and intend to resell in the medium term to
release gains accrued.
The real estate investment climate in Costa Rica is hot right
now with the government working flat out to attract sustainable
foreign direct investment - those interested in making a move
should consider committing to the market sooner rather than
later while it remains a buyer's market and before opportunities
for the strongest investment gains are eroded by increased
levels of investor awareness and interest.
About the author:
Rhiannon Williamson writes about real estate investment in
emerging markets worldwide. To read more about
real estate investment in Costa Rica click
here.
