Costa Rica Property News

Costa Rica real estate market sees promising start this year

A recent poll conducted by Costa Rica real estate firm CRREC shows that 2013 could be an above-average year for sales of both commercial and residential properties.

After a successful close in 2012, this year appears to be off to a great start with Costa Rica homes for sale within the price points $200,000-$450,000, drawing attention to real estate websites throughout the country, the study states.

Since the real estate boom of 1996, Costa Rica has been a roller coaster ride of ups and downs as a result of struggling world economies. However, in 2012, there was a return to increased activity in this sector.

“This year has already begun to show us strong numbers, and if the first couple weeks of 2013 are any indication of what’s to come, ... I’m excited,” said Jerad Portner, sales manager of CRREC, in a press release.

A few respondents to the study indicated an anomaly of +/- 4 percent, which showed a rising interest from European nations towards larger sections of Costa Rica properties for reforestation projects like teak and cypress.

Additionally, a few agencies are reporting rejuvenated commercial real estate markets, especially along coastal regions.

Costa Rica has “always been an attractive location for foreign investors to diversify their portfolios and help offset their losses seen in local markets similar to the U.S. housing crash,” the study added.