Real Estate Industry Comes Down from the Clouds

Reductions of up to 40% on prices reflect the bubble that was created in Costa Rican real estate sector.

Tuesday, June 14, 2011

The economic crisis that struck the U.S. and Costa Rica also had a great impact on the Costa Rican real estate industry, where demand has fallen to levels never seen before.

However, the crisis is not solely to blame for the current situation being experienced by the industry, which began two years ago. In some cases, bubbles in prices were created, affecting the placement of property and the industry in general, but mainly in coastal areas.

The president of the Chamber of Real Estate in Costa Rica, Aleyda Bonilla said in an interview with that "we must make the customer understand what the actual market price is, in order to avoid creating a bubble again. We have to explain what the actual percentage of equity is in a specific area, the realities have to be explained. "

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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.

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Real Estate Hints to Revival in Costa Rica

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Demand for Real Estate, frozen by the economic crisis, is starting to rise due to lower prices.

In the first 10 months of 2009, Costa Rica's real estate market was severely hit by the economic crisis and investor fear due to the burst of the U.S. real estate bubble.

However, as the year comes to an end, there are recovery signs in the market, driven mostly by a sharp reduction in property prices.

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