Between 1990 and 2017, the constructed area of residential complexes in the condominium and apartment format in the Grand Metropolitan Area of Costa Rica grew from 5% to 25% of total space.
The most recent report from the State details that 80% of condominiums are in 24 districts, most of which are in the Western and Northern areas of the Grand Metropolitan Area (GAM).
In addition to the segment of young people who want apartments in downtown areas in Costa Rica, older adults are also looking for smaller spaces with easy access to services.
Developers of condominiums and vertical housing in Costa Rica assure that it is not only professional couples who are looking for apartments in buildings with amenities, and which are located in more urbanized areas where there are services such as supermarkets and shopping centers in the vicinity.
The proportion of this type of housing out of the total square meters authorized for construction in the country went from 19% in 2010 to 23% in 2013.
A total of 1.6 million square meters have been occupied by condominiums in the last two years, 85% more than in the previous biennium. A fifth of these housing projects are concentrated in the central 'canton' (district) of Heredia, followed by four cantons in San Jose: Santa Ana (18%), Goicoechea (14%), Central (9%) and Escazú (9%) .
The Chamber of Builders has recorded eight projects for luxury housing in the country with retail prices ranging from $100 thousand to $450 thousand.
The Chamber of Builders of Nicaragua (Cadur), argues that housing designed for more affluent people have had good sales. Currently there are eight projects of this type recorded in Managua and there are an estimated eight more that are not part of Cadur, with prices ranging from $100 thousand to $450 thousand.
Guatemala's Grupo Spectrum has announced an investment of over $20 million in various real estate projects in Nicaragua.
In the Nicaraguan capital, in Las Colinas, the company announced the construction of "Cumbres del Portal" and the urbanization "Alamedas de Las Colinas".
Another project is the condo's Talanguera in San Juan del Sur, Rivas.
"Spectrum Group, of Guatemalan capital, said it will invest more than $20 million in the housing projects Cumbres del Portal, in Las Colinas, Managua, and condominiums Talanguera in San Juan del Sur, Rivas. It also reported that develop the residential community Alamedas de Las Colinas in the capital", reports Elnuevodiario.com.ni.
65 minutes from Panama City, the resort has 227 m2 houses and 117 m2 apartments, a golf course, swimming pools and sports fields.
The project Bijao Beach project has advanced the Villas Miraflores complex with single-family homes and apartments, which occupies 7.5 hectares in an area located 65 minutes west of Panama City.
In the past two years, land prices in the radius around the canton of Alajuela have multiplied by six.
Within the GAM (Gran Area Metropolitana), since 2010 Alajuela has been top area in terms of square meters processed, say statistics from the Association of Engineers and Architects (CFIA). That would explain the very interesting property prices in this canton.
The company Urbánica Desarrollos Inmobiliarios plans to develop an residential project, known as Portal Canarias in a 15.7 hectare area in El Espino.
The project, which includes four residential condominiums, will generate about five thousand jobs both direct and indirect, said Alvaro Barraza, Commercial Manager of the project.
"According to Barraza, Portal Canarias is inspired by the Atlantic archipelago of the same name, and each condominium building - Puerta Gran Canaria, Allegranza, La Palma and Los Faros, aims to meet the needs of different types of families in El Salvador, but gathered together in an environmentally friendly space that will give all residents the opportunity to experience a fusion of nature, urban creativity and security", reported Elsalvador.com.
Property Developer Cubitá will begin in September a project by the same name in the Province of Herrera, Panama.
The works include the converting five acres into land suitable for residences, a shopping mall, condominiums and a hotel, the construction of which is expected to be completed in late 2012.
According to an article in Laestrella.com.pa's, "The project includes building 91 houses in the residential area, of which 64 are apartments and 27 will be houses, all within a gated complex with a perimeter wall and security gate. The square, the commercial component of the new concept, will have the capacity to house 17 shops or establishments. "
The realtor El Parque is to develop an apartment block in the La Uruca area of the capital, San Jose.
Construction of the 15-story building is scheduled to begin in December 2011 and take 18 months to complete.
"El Parque group's new project will be located on a 13,000 m2 site near the main highway connecting the capital with the airport, very near the San José Palacio hotel," reports La Nación.
Habitare Inmobiliaria will build a real estate project called “Puerta Grande”, featuring 65 residential units.
The company expects to deliver 40 units in 2010 and have the project completed by mid 2012, explained Rodrigo Arenas, company director.
“Construction started three years ago, on a 7 hectare lot located at kilometer 14.1 of the highway to El Salvador. It has created between 400 and 500 jobs”, reported Elperiodico.com.gt.
The $400 million real estate project “Trump Ocean Club”, is slated to be ready by early 2011.
Roger Khafif, project leader, told AP that they have already completed 66 of the 70 stories of the tower, whose construction began on May 2007.
“It is the most expensive real estate project in Latin America, with over 2.8 million square feet and 70 stories”, told the developers in a press release.
It is called ‘Paseo de las Casas’, it is located in the province of Coclé and includes luxury residences and a golf course.
Construction of the first phase has already begun, comprising 4 apartment buildings. As for the golf course, it will feature 18 holes, and is expected to cost $18 million.
Juan Ramón Icaza, director of the project, explained that the apartment have been designed to satisfy ‘the most demanding requirements of the Panamanian market’.
$20 million will be invested in developing 350 new residences.
Marta Molina, spokesperson for Royal Decameron Golf Beach, Resort & Villas, explained they will also invest in enlarging the hotel and building a shopping center.
Prensa.com reports: “the mall will boast 30.000 square meters of commercial space”.