Costa Rica: Growth in Commercial Real Estate in September 2016

The total inventory of square meters of property for commercial use grew by 15% in the last twelve months.

Tuesday, November 15, 2016

From the report "Commercial Real Estate Market - September 2016" by Colliers Costa Rica:

Market Overview 
Over the past year, the commercial property market has increased its inventory by 15.04%. The entry on the market of commercial property such as City Mall, and some Expreso Desamparados and some Lifestyle Center buildings, have marked a commercial turning point, which has generated negative and positive results, respectively.  

Market Development  
Supply: The increase consists largely in property of the Regional Center type, however the entry of the mixed use Terrazas Lindora is also part of it, as well as the development of existing projects in stages. 

Read full report (in spanish).

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More on this topic

Costa Rica: Office Market in September 2016

November 2016

At the close of the quarter, there was an increase in the total inventory with the new supply of 53,067 square meters of rentable offices.

From a report by Colliers Costa Rica "Office Property Market September 2016":

The office property market in recent quarters has demonstrated a positive picture regarding new supply, as developers are starting projects to meet demand. Gross absorptions also look healthy and the vacancy rate of office space is slowly showing a decrease in its percentage.  

Costa Rica: Saturation of Office Buildings Indicated

September 2016

It has been reported that the vacancy rate in the office segment in the real estate market now exceeds 10%. reports that "... an analysis by Colliers International shows that the office market is undergoing a period of greater caution, since the vacancy rate is above the 10% threshold for defining market saturation."

Contraction of Construction Sector in Costa Rica

July 2014

In the first five months of the year the number of square meters approved for construction of new buildings decreased by 9.5% compared to the same period in 2013.

Data from the Costa Rican Chamber of Construction (CCC) shows that the type of buildings seeing the greatest decline are for commercial purposes, which experienced a 31.6% reduction in the number of square meters processed during the first five months of the year.

Costa Rica: Real Estate Office Market

November 2011

An NAI Costa Rica Report for the third quarter 2011, gives analysis categorised by supply, demand and prices, and an evaluation of new projects.

Extract from the report:

The office property market is stable with an availability rate of 8.9%, up 1.1% from last quarter, due to the steady inflow of new office centers to the market.

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