Land Values Up in Downtown San Jose

The demand for housing solutions and commercial spaces in downtown San Jose has led the cost of land per square meter to rise to $1,200.

Monday, July 29, 2013

Nacion.com reports: "Mata Redonda, Merced, Catedral, Hospital and El Carmen have in the last three years represented half of the total square meters (sqm) for which there are applications for building permits. In this area, construction of houses and stores has the most dynamism ... ".

The price increase is due, according to the businessmen, to a repopulation process initiated by the Municipality of San Jose through the promotion of high rise construction. According to the Chamber of Construction (CCC), the houses that were built in those five districts represented 40% of all those built in the county in 2012, the cost per square meter ranges from $270 to $850, and can even reach $1,200.

"The concept of pedestrian communities has made places like Rohrmoser, La Sabana, Barrio Escalante, Los Yoses, Barrio Dent and the center of San Jose become attractive," said Edgar Santamaria, regional director of Century 21 Central.

Moreover, the five districts grouped above represent 50% of the 158,605 m² of new commercial buildings in the county in 2012. Most of these properties are rented, with prices ranging from $60 to $95 per sqm per month. "The boulevards generated increased pedestrian traffic, which has led to a rise in prices," said Danny Quiros, intelligence manager at Colliers Costa Rica.



More on this topic

Price of Land in Nicaragua

September 2016

Reports of increases from $75 to $500 per square meter have been made in some areas south of Managua and values ​​up to $580 per square meter in the coastal department of Rivas.

The tourism boom seen in the areas in Rivas, followed by Leon and Granada are responsible for the increase in the value of the properties, some of which sometimes sell for $580 per square meter. "...In the case of Rivas the increases occurred between 1996 and 2007 when the construction of major tourism projects was announced."

Costa Rica: Office and Store Prices in Mini Cities

August 2013

Rent an office in a standard office building costs around $17.38 per square foot, whereas in a mixed-use development the price rises to $23.

This was revealed by a study by the real estate company Colliers International, who also explained that "when it comes to mixed use commercial premises, the average price recorded by the company reaches up to $28, whereas in other commercial centers the figure drops to $18.17 ", reported Elfinancierocr.com.

Increased Foreign Investment in Real Estate

July 2013

During the first three months of 2013 the real estate market in Costa Rica received $377 million from the sale of properties and construction projects of foreign capital.

This amount represents 90% of the total resources directed towards this sector during 2012. In that period the country had revenues of $866 million in foreign direct investment, an increase of 41% compared to the same period last year.

High Land Values Around Highway in Nicaragua

January 2013

The widening of the road to Masaya between landmarks 6 and 14 is expected to increase land prices, which currently range from $100 to $120 per square meter.

Elnuevodiario.com.ni reports that the president of the Nicaraguan Chamber of Real Estate Brokers, Canibir, Abraham Blandon said that the land located between the Centroamérica roundabout and the residential community Las Colinas where the road will be extended, will become more expensive, but did not specify how much the value per square meter will be raised.

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