Costa Rica An Exciting Real Estate Investment Prospect

Costa Rica An Exciting Real Estate Investment Prospect

Costa Rica: An Exciting Real Estate Investment Prospect
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.

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