Real estate properties in Costa Rica can provide the ideal investment alternative. Costa Rica real estate is on the verge of a spectacular property boom just at a time when property values and investment markets in much of North America and Europe are still flat or falling.
For the North American market, Costa Rica has a geographic advantage, especially for people living along the East Coast and in the central parts of the U.S. where Costa Rica is closer than Hawaii.
Costa Rica properties, offers many differentiated climates possibilities: rainforests, volcanoes, a great diversity of nature and adventure destinations, as well as beaches, all in one small country.
Now more than six years after the global economic and real estate recession, Costa Rica real estate is in a second boom, which is not as explosive as the first. It is predicted to have a slower but steadier growth curve.
Because the growth of popularity of Costa Rica as a premier destination for travel, real estate investment and retirements, now the full time resident and part-year resident offering are more attractive to much more people from all over the world.
While more buyers before 2009 bought for investment, now buyers are buying for lifestyle and income.
Baby boomers expected to be a larger part of buyers this decade. There will be more of them and they see Costa Rica as the place, they can relocate full time, attracted by low cost of living, affordable healthcare, proximity and good weather.
Although wealthy pioneer investors continue to arrive in Costa Rica, since 2006 the vacation home market has been growing for a second group, the U.S. “Baby Boomers,” the generation born between 1946 and 1964 that is now reaching retirement. For the Boomers, Costa Rica represents an opportunity for an improved standard of living after retirement, since pensions go farther because the cost of goods and services is lower. In contrast to pioneer investors, most Baby Boomers have not acquired sufficient savings to invest via cash in Costa Rica, and so they require credit in order to buy a second home. Many seek to buy Costa Rica real estate at a lower price than in the U.S., but with the same or better construction standards and a beach location.
Recent surveys show an tendency in rising homes inventory, home sales and prices, citing better international awareness, improved U.S. economy and higher consumer confidence in Costa Rica as country to invest, as primary factors.
Costa Rica real estate industry leaders see a more stable and improved situation in supply and demand and are strongly optimistic that Costa Rica properties will see excellent growth over the coming decade.
In terms of countries of origin, the U.S. investors have been by far the largest, representing 55.7% ($351.9 million) of the total FDI in 2007, followed by Canada ($40 million), Germany ($30.5 million), Spain ($27.1 million), and Holland ($21.5 million). According to the Central Bank, North America (U.S., Canada and Mexico) represented 62.4%, followed by Europe with 25.5% in 2007.
Over 90% of the buyers of residential property along the Pacific coast are from the U.S. However, buyers from Canada and Europe have been increasing in numbers since 2007.
The current cost of buying Costa Rica properties is significantly less than in most other attractive vacation destinations. Together with providing you with the possibility to recognize a large return on your investment in the future, purchasing real estate in Costa Rica let you to get more for your money today. The lower cost of living in Costa Rica permit you to extend your investment dollars.
If you choose to use your real estate investment as a vacation or retirement home, you will be able to spend your time living a deluxe existence in one of the most striking environments and warm climates on earth for just a small portion of what it would cost back home.
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