Costa Rica real-estate boom turns up heat on developers

Demand for real estate in Costa Rica is outstripping the ability of developers to satisfy it.

Monday, May 19, 2008

"There are enough developers in Costa Rica. The problem is that their projects are snapped up so quickly that they struggle to keep pace with demand," said Randall Murillo, executive director of the Costa Rican construction industry chamber.

More on this topic

More and More High-Rise Construction

June 2012

The last three years has seen high rise residential construction projects grow from 5% to 40% of the total in Costa Rica.

This trend is mostly seen in San Jose downtown, Escazu, some parts of the east side of the city and recently Heredia, said Randall Murillo, executive director of the Costa Rican Chamber of Construction.

Puntarenas is Costa Rica's new real-estate hotspot

July 2008

The Pacific Coast city of Puntarenas has become Costa Rica's latest hotspot for commercial, residential and tourism real-estate projects.

Development of the city has been inspired by its natural attractions, a first-rate location and a complete services infrastructure.
"Puntarenas has many of the characteristics of a well organized city, with plenty of services, such as hospitals, a fire brigade and universities," said Randall Alvarado, a consultant with CMK Research.

Lack of infrastructure is latent threat to Costa Rica's real-estate boom

July 2008

Private real-estate investment in Costa Rica is likely to be affected by the lack of regulation and planning of public infrastructure.

San José's real-estate boom has led to healthy profits for the construction industry and private investors.
But the new buildings, as well as those that are still on the drawing board, could be threatened by the lack of plans for the development of public infrastructure.

Costa Rica faces shortage of commercial real estate

May 2008

Commercial real estate is in short supply in Guatemala, under pressure from a sharp rise in demand in recent years.

In the San José area, some 450,000 square meters of commercial real estate have been built, but only 10,000 square meters is still available, according to a study by Colliers International.

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