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