Initial expectations for the placement of shares in real estate funds worth $2 million was far surpassed, with a total of $9 million in the first year.
Laprensa.com.ni reports that "... the success of the FII is based on the fact that these pay a better percentage for the investment (from 6.5 to 8 percent a year), much more than is usually paid by the financial system on savings, but also offers fewer levels of risk for investors.
The $90 million invested in property in 2012 represented an increase of 86% compared with purchases made during 2011.
According to the Superintendency of Securities (Sugeval), until the last half of May this year, real estate portfolios had under their administration $871 million in net assets (including properties and some securities), 7% more than in the same period in 2012.
In the first five months of supply, real estate investment funds sold $3.4 million in shares with a minimum participation of $5000.
The attractive interest rates offered and "the existence of a secondary market that allows the recovery of the investment when required, have made this an attractive investment instrument", reported Laprensa.com.ni.
Eduardo Ortega, general manager of Invercasa Puesto de Bolsa, says, "As a new product in the country, it was predicted that about five million dollars would be placed. But with the pace we are seeing, we projected that investment could reach up to about 10 million dollars."
Without having achieved exceptional growth, these securities maintain acceptable occupation levels and competitive returns.
From the blog Pulso Bursátil by Aldesa:
What happened to the real estate funds industry in Costa Rica?
Since the advent of the subprime crisis in 2008, and although real estate funds industry has not shown an exponential growth, the occupation levels of these securities remain acceptable and returns are competitive at a time when dollar interest rates are "exceptionally low. "
Despite the international financial crisis, assets have grown by 8% in 2010 and the number of investors increased 10% to 33.432 customer accounts.
Among other options, stock funds won over many investors reappearing as an investment option with over 200 investors. Also open Growth Funds increased 12%, Megafunds with an 11% increase and Money Markets with 12%.
In Costa Rica, investment funds grew 16% in 2009, in spite of losing almost 10% of their investors.
During the past financial crisis, the Costa Rican market turned out to be more stable than international markets, making it a relatively safer place for storing capital. Because of this, assets managed by investment funds grew to $2.48 billion.
However, the crisis affected small local investors, who were forced to abandon their investment funds.