Increased Foreign Investment in Real Estate

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.

Thursday, July 11, 2013

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.

Information from the Central Bank of Costa Rica (BCCR) reveals that coastal properties were those which had the most movement. According to experts, the phenomenon is due to the drought in the years following the economic crisis.

According to Andres Zamora, vice president of the Costa Rican Chamber of Real Estate, a lot of the new business has happened in Guanacaste near the Daniel Oduber airport.

Danny Quiros, Market Intelligence Director at Colliers International, said that in the Central Valley, the increase was seen in offices and industrial facilities, which had growth of 13% and 9% respectively, compared with the same period in 2012.



More on this topic

Rentals: Lower Occupancy, Lower Prices

May 2020

As a result of the crisis, the unemployment rate of commercial premises in Costa Rica rose from 8.81% to 9.86%, and the average price per square meter fell by 3%.

It is estimated that 20% of the stores located in the country's malls will not be able to open after the most critical phases of the covid-19 outbreak are overcome, according to Colliers' figures.

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.

Land Values Up in Downtown San Jose

July 2013

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.

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 ... ".

Excess Supply of Office Centers in Costa Rica

March 2013

Despite the increased availability of office space, 14 new office centers are projected to be added to the 15 currently under construction.

Data from Colliers International shows that in Costa Rica, the availability of spaces has doubled from 7% in 2011 to 13% last year. Meanwhile the Association of Engineers and Architects in Costa Rica, reported an increase of 33% on the amount of square meters dedicated to new offices last year.


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