According to data from the Central Bank of Costa Rica, from August 16th to date, the Colon has registered in the wholesale market Monex a depreciation equivalent to almost 11%, leading the dollar price from ¢567.97 to ¢628.85.

In this regard, Grettel Fallas, manager of Real Estate Portfolio of Prival Investment Funds, explained to Crhoy.com that "... With a significant rise in the exchange rate, tenants who rent properties are forced to pay their rents in dollars (mostly of them) with more colones. In addition, those tenants who, because of the commercial nature of their business, import products in dollars should also pay more colones for those products."

Fallas added that "... These circumstances cause real estate funds to be affected in their income, and consequently, in the payment of returns to investors. Part of the risk to which Real Estate Funds are exposed and are disclosed in the investment prospects, therefore it is important for investors to be clear that these funds are long-term investments, and there may be a slightly complex condition in the market, although they may be very positive at other times."

See previous publications on the evolution that the exchange rate has been showing in Costa Rica.

Source: Crhoy.com

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