Costa Rica faces shortage of commercial real estate

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

Monday, May 12, 2008

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.
"Everything that's built is being sold. There's not much available and demand keeps on growing," said Randall Murillo, executive director of the Costa Rican Construction Industry Chamber.

More on this topic

Costa Rica: Ministry Seeks Corporate Building

March 2015

Complete gray works and at least 48 thousand square meters in the plant located in Down Town are part of the features that the office buildings to be offered to the Ministry of Finance must have.

One of the important specifications required the Ministry is that the building must be located within a radius of 10 kilometers from the main building of the Ministry of Finance.

Housing Sector Lacks Supply

April 2011

Costa Rica lacks housing for the middle-income sector.

Funding is not to blame. After passing the most severe part of the financial crisis, banks are now offering home loans at favorable conditions and accessible to incomes of all spectrums. The problem is that there is insufficient supply in the housing sector in the ranges of $70 thousand to $80 thousand.

Costa Rica: Banco Nacional sells Building

March 2011

The five-story building, with a construction area of 4,127 square meters, is valued at $ 1.07 million.

There is up to 80% financing available for the purchase.

Eight months ago, when it was offered for the first time, the sale price was $ 2.17 million, "the new price ... responds to conditions of the property, which needs repair, as stated in the advertisement," reported.

Business increases in Guanacaste, Costa Rica

April 2008

Although construction of residences and hotels has been the leader in real estate growth in Guanacaste, commercial buildings that spring up as a complement to the residential development are not far behind.

In 2007 building permits for 347,184 square meters were solicited, almost 80 per cent more than in 2006.

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