More Condos and Apartments

Between 1990 and 2017, the constructed area of residential complexes in the condominium and apartment format in the Grand Metropolitan Area of Costa Rica grew from 5% to 25% of total space.

Tuesday, November 20, 2018

The most recent report from the State details that 80% of condominiums are in 24 districts, most of which are in the Western and Northern areas of the Grand Metropolitan Area (GAM).

You may be interested in "More Real Estate Investment in Central America"

Regarding the reasons behind the increase in this residential type, Javier Chacón, COO of the Federated College of Engineers and Architects (CFIA), explained to Nacion.com that "... the construction as a condominium is trying to address deficiencies in terms of security and maintenance of public spaces, which some municipalities and central government did not prioritize in past decades. Since there are enclosed spaces with their own administration, higher safety standards can be established, or public spaces can be generated with greater investment (e.g. swimming pools or fitness centers)."

Also see "$1.500 million investment in residential projects"

Chacón added that "... terms of use of space, it' s important to ensure that the condominium construction on large properties does not generate islands of housing that can generate connecting roads between sectors that are currently with problems of vehicle mobility. The municipality must act in partnership with landowners and developers to ensure that the construction of new projects not only generates more traffic but offers mobility alternatives to GAM's urban environments."

According to reports from CentralAmericaData, in the first half of 2018, 89 Environmental Impact Studies were presented in Costa Rica to develop condominiums, apartment buildings and other housing projects. The overall projects total about $368 million investment.

See State of the Nation report.

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More on this topic

More Apartment Towers in El Salvador

November 2018

A 10-floor apartment building with 3 basements for parking was announced. It will be located in San Francisco, San Salvador.

Representatives of Alpha Inmobiliaria, developer company of the residential project called "Tribeca", informed that the condominium will offer 55 apartments and the investment will be approximately $12 million.

More High Rise Housing in El Salvador

April 2018

Construction work has started on a residential complex estimated at $60 million, which will be composed of three apartment towers and will be located in Antiguo Cuscatlán.

The housing project being developed by the construction company Urbánica is called "Puerta del Alma". It will have 304 apartments and 709 parking spaces which will be distributed in an open area and two basements, and the condominium will be located on Calle El Pedregal in front of the Multiplaza shopping center.

Costa Rica: Condo Building Keeps Growing

May 2014

The proportion of this type of housing out of the total square meters authorized for construction in the country went from 19% in 2010 to 23% in 2013.

A total of 1.6 million square meters have been occupied by condominiums in the last two years, 85% more than in the previous biennium.

Over $190 million in Residential Towers

August 2012

The boom in vertical housing continues in the capital of Costa Rica, where the trend of living near to the down town area is a response to the serious problems of road traffic.

Condominios 6-30, Torres del Lago, Torres Paseo Colón, Vistas de Nunciatura and Condominios Nara are some of the residential-commercial projects currently on offer in the city of San Jose.

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