Real estate development slows in Costa Rica

Businessmen, chambers, and mayors from various municipalities agree that there has been a slow-down in the real estate sector, even though employment figures do not reflect this.

Monday, September 8, 2008

They maintain that there has been a drop in new investments, that there are projects that have been paralyzed, and that there is less demand for labor, all signs that the sectors is not well.
Despite lag perceived by businessmen and experts, key indicators such as construction activity employment instead show that there is growth.

More on this topic

Costa Rica’s Economy Slowing Down

December 2012

Indicators show a loss of dynamism in the Costa Rican economy, which fell from a year on year growth of 7.2% in February, to 2.39% in October.

The editorial in notes the risks posed for next year, 2013, for Costa Rica's economy, if the symptoms which have been noticed deepen, either because of global economic vicissitudes, or from lack response from the government or private economic participants.

Poor Prognosis for "Second Homes"

September 2011

In Costa Rica, this niche market was hit hardest by the U.S. housing crisis.

According to the Costa Rican Chamber of Construction the outlook is not encouraging and they do no foresee recovery in the short term.

Jose Alfredo Sanchez, vice president of the group, said "In Costa Rica, there has been a dramatic effect on the coast, where (project development) has not recovered in the short term because this would require strong economic growth in the U.S., which is not happening. "

Urban Development Project in El Salvador is On-Hold

February 2009

The development of the El Encanto Villas & Golf project, which includes residential lots, apartments, golf course and a country club, has become paralyzed.

The businessman, Rafael Castellanos, told "El Encanto Villas & Golf has become paralyzed due to the electoral uncertainty in the country.

Nicaraguan economy slows down

January 2009

Trade, the financial system, the fishing industry, and the manufacturing industry were four of the main economic sectors reports: Undoubtedly, the most affect areas was financial services, which in 2008 grew only by 0.32 percent, compared to the 16.99% in 2007.

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