Costa Rica: "More real estate projects could be suspended"

The effects of the international crisis could have a very negative impact on the construction sector, Rodrigo Altmann, president of the sector's Chamber, said.

Monday, September 29, 2008

Last month they started speaking of harder times in the construction sector. What are the Chamber's perspectives for the next few months?
Financing is critical for any project, an especially for our projects due to their size and the time the construction process takes. With the tightening of credit options everywhere, both internationally and locally, and publicly and privately at the national level, it is likely that the volume of construction will significantly decrease in the next few months.

More on this topic

Panama: Growing Demand For Beach Apartments

March 2016

An inventory of apartments on the beach front could grow from 400 to over 1,600 units in three years, thanks to demand from domestic and foreign buyers.

Buying an apartment on the beach is not a something that only foreigners do in Panama. Although prices range between $200,000 and one million dollars, Panamanians in the high and upper middle class brackets are also positioning themselves as buyers of such properties, according to studies cited by Panamaamerica.com.pa. Important sectors of Punta Chame to Playa Blanca, Farallon, Santa Clara, El Palmar (Hato River) and Rio Mar (San Carlos).

Return of Investment in "Second Homes" in Costa Rica

May 2014

The phenomenon is concentrated on the Pacific coast in Guanacaste with buyers mainly being foreigners and locals from the upper middle class.

The area of ​​Tamarindo in Guanacaste's Gold Coast leads sales in 2014 in the real estate market in Costa Rica, helped by the increasing preference of investors for enclosed coastal districts, first class tourist infrastructure with beaches near to Liberia International Airport, and legal certainty for investment in properties.

$5 million Residential Project in Honduras

July 2013

In the northwest of the city construction will take place of Ciudad Maya, a luxury residential complex which integrates a commercial area, a corporate area, an apartment building, and other recreational areas.

William Hall, a member of Inmobiliaria del Valle (Invalle), and project manager, said one of its additional attractions is that it will have a road bridge which will provide singular access to the complex.

Government Advertising Cut by 12%

March 2013

The public sector in Costa Rica plans to spend $112 million on advertising and propaganda during the 2013, which is a drop of 12% compared to the previous year's budget.

A report by the Comptroller General of the Republic, has revealed that other items such as foreign travel or entertainment expenses will also be cut in 2013.

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