Investing in Costa Rica

 As the baby boomers are starting to reach retirement age, the limited availability of waterfront property in the world is taking its toll on the price of real estate. With its beautiful beaches, tropical climate and stable government, people are turning to Costa Rica. Real estate in Costa Rica’s spectacular Pacific Coast has become a hot investment area.. While claims abound in the 40% per annum return, a very reliable source is in the country’s, financial daily, La Republica. According to a recent article, property in the Central Pacific coast has risen 250% in value over the last six years.

 Furthermore, with the paving of two new sections of the Coastal Highway, the driving time between the country’s capital, San José and the nearest beach resorts will be reduced in half. The best climates and beaches are to be found in the provinces of Guanacasta and Puntarenas. Guanacaste, to the north, has a better climate with a short rainy season. Its Gold Coast region provides many beach communities ranging from 25 to 45 minute drive to the international airport in Liberia. With many spectacular white sandy beaches and nearby mountains, this is a promising area for investment and development. Four Seasons has opened a five star resort hotel, a 200 slip marina is at the planning board and a Greg Norman golf course is under development. The opportunities for waterfront development and ocean/valley view communities are available now but selling fast.

 As another example of this boom, the Marriot Corporation built its crown jewel of Central America “Los Sueños Resort” and pre-sold 50 condominium units of 2,000 square feet each for $250,000. The next year they sold another 50 at $350,000 and this year’s upper-end units sold between $450,000 to $850,000. And there is a waiting list!