Realtors Attempt to Halt Lot Overpricing in Costa Rica

In the province of Guanacaste, many real estate properties are being offered at much higher prices than their market value, in stark contrast with the sector’s depressed reality.

Monday, May 31, 2010

Attempting to put a stop to this practice, the Costa Rican Realtors Chamber (CCBR) has issued new internal regulations among its associates.

According to them, realtors must now sign a sale authorization agreement with the owner of the offered lot. In it, the parties must agree the terms and conditions of the future sale.

“Many are welcoming the measure, although they know that time is needed to see if what impact it has”, reported “For example, Mauricio Céspedes, director of the National Tourism Chamber, believes that the crisis cleaned and corrected the brokerage market, but the effects of this process will only be visible once the real estate market recovers”.

More on this topic

Land Prices Rise in Nicaragua

March 2014

The demand for land for crops and property development has raised prices in most productive areas.

In cities such as Estelí, Matagalpa and Chinandega, the economic boom has driven up the price of land for farming and for building residential and commercial properties. According to Ricardo Melendez, chief of the Chamber of Builders, one square yard is trading at up to $300 in those cities.

Low Cost of Land Attracts Investments

February 2013

In the North Pacific of Nicaragua a square meter of land on the beach has a maximum cost of $18.

"Nicaragua is the safest place in Central America and there is great potential to develop the segments of city, sun and sand. We have a lot of ability to grow in those areas which already posses developed infrastructure such as airports and roads", said Sergio Arguello, an official from the Nicaraguan Chamber of Tourism (Canatur).

Caldera Highway Raises Nearby Land Value

March 2010

The price of the average lot next to the recently inaugurated highway increased between 25% and 60%.

Realtor Jorge Rosales reported that some plantations that used to be sold at $9 per square meter have doubled their value ($18 per square meter).

El Financiero analyzed several aspects of this situation, including the real estate and the construction materials markets.

Interest Grows in Panamanian Pacific Coast

August 2009

Foreign investors are interested in purchasing lots, both in the coast as well as the interior of the province of Darién.

Offers for the lots range from $1.000 an hectare, without property title, to $3.000 for terrains with property titles.

" ... Americans and Colombians are the most interested. In the long term, they expect to invest in tourism centers or teak plantations", reports

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Camara Costarricense de Corredores de Bienes Raices

Organization that operates in Costa Rica.
Phone: (506) 22830191 - (506) 22832891

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