Costa Rica has “promising start” to 2013


Costa Rica's property market is off to a "promising start" in 2013, according to CREEC.

The real estate firm suggests that Costa Rica could see a very strong year after a significant rebound in activity in 2012.

Indeed, since the recession, the country had seen demand and prices go up and down until last year. And now, a large number of houses within the price range of $200-450k are attractive attention on real estate sites throughout the country.

"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." says Jerad Portner, Sales Manager of CRREC.

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

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

"With such influential brands like Westin and Sol Melia showing their confidence in the region, we expect that this will almost certainly spawn further interest from other investors around the world." said hotelier Trevor Berkowitz who currently operates a beachfront hotel in Tamarindo, Guanacaste.

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 US housing crash.

Investing in Costa Rica property is simple for foreigners from all over the world who can invest in Costa Rica properties the same as any Costa Rican local. The government has progressively made it more attractive for foreign investors with tax incentives and a variety of commercial perks to lure foreign investment.

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