Costa Rica real-estate boom turns up heat on developers
Demand for real estate in Costa Rica is outstripping the ability of developers to satisfy it.
Monday, May 19, 2008
"There are enough developers in Costa Rica. The problem is that their projects are snapped up so quickly that they struggle to keep pace with demand," said Randall Murillo, executive director of the Costa Rican construction industry chamber.
Commercial real estate is in short supply in Guatemala, under pressure from a sharp rise in demand in recent years.
Private real-estate investment in Costa Rica is likely to be affected by the lack of regulation and planning of public infrastructure.
The Pacific Coast city of Puntarenas has become Costa Rica's latest hotspot for commercial, residential and tourism real-estate projects.
New businesses will open in the Greater Metropolitan Area of San Jose in 2012, with spaces of between 4,000 and 100,000 square meters.
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