Costa Rica Commercial has launched operations, as the first specialized Costa Rica real estate broker, exclusively specialized in Costa Rica commercial real estate rentals and investment property sales.
Costa Rica realtors typically operate as generalists, whose sole market differentiation is geographical. Costa Rica Commercial has altered that paradigm, as the first specialized Costa Rica real estate broker, exclusively specialized in commercial real estate and Costa Rica investment properties for sale, as well as commercial property rentals. Their website is the first bilingual website to exclusively market Costa Rica Commercial real estate and investment properties. Costa Rica Commercial also provides hard money loan brokerage services for private lenders, investors and borrowers seeking bridge financing.
Grupo Invercasa has received authorization to create and manage funds in real estate and financial investment in the country and plans to raise $150 million over the next five years.
With the creation of the fund management company Invercasa the aim is to raise investment of $150 million in the first five years of operation, primarily through the model of real estate investment funds.
Market data are usually the basis for decision-making in order to develop, build, buy or sell real estate.
In Central America, there is no unified database to view the regional real estate market as a whole to compare and make decisions on investment. This report collected data from Costa Rica, Belize, Nicaragua and Panama, and it includes national economic indicators to help situate the investment climate in each country.
Construction plans for the province include 150 thousand square meters in construction of commercial and residential centers in the coming months.
Of the eight planned projects, four are mixed-use complexes combining residential, commercial and entertainment buildings, and another two are the mega project called Oxigeno and San Francisco square.In the residential segment, the other two projects, Las Flores, and Bambu, amount to 40 thousand m2 and 17,600 m2, respectively.
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.
Estimates are of a market potential of $80 to $100 million for the development of real estate funds in the next two years.
The Invercasa Financial Group announced that it is negotiating with the Superintendency of Banks and Other Financial Institutions (Siboif) to open a real estate fund management company.
Statistics from Invercasa have recently indicated that in the last 18 months, since the firm entered the market of real estate investment, these funds represent 97% of all international transactions in Nicaragua, resulting in 70 domestic investors contributing 10 million dollars, with gains of 7.5%.
A real estate investment fund owned by Banco de Costa Rica has bought 60% of the facilities of Global Business Park in Heredia.
Elfinancierocr.com reports that "The acquisition will add 21 new tenants to the Fund, including domestic and foreign companies primarily within the medical industry. It will also increase by 50% the assets managed by the real estate investment trust."
The high prices of properties being recorded in parts of the country are scaring away foreign investment and limiting the recovery of those most affected by the 2008 crisis.
The question posed by foreign investors to Realtors: "'Why invest in Costa Rica when the price of the property is the same or higher as in New York but with less quality services?", is proof that the real estate bubble remains as active as before the crisis of 2008.
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Latinamerica Title Co. is an agent of Chicago Title. Our company offers customers the most comprehensive and accurate title and escrow related services in the region, enhancing real estate transactions with a group of services that minimize the risk of investing in a foreign country.
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