Costa Rica Real Estate on Southern Coast Dodges Global Flu
- by crv.staff
- 5:58 PM UTC
- Filed in Costa Rica Real Estate
When the US sneezed, it seemed that the rest of the world caught the flu. While real estate in the North Pacific region of Costa Rica is ailing, as are overdeveloped parts of Panama, the southern part of Costa Rica (Zona Sur Region) seems to be immune to the global Crisis.
There are several reasons why, but the main one is that the southern Pacific coast of Costa Rica never had a housing bubble to begin with. The other significant factor is the outlay of over $1 Billion from the World Bank and subsequent match investment of the Costa Rican Government to invest in infrastructure in the region. Namely the Highway system and the building the country’s third international airport located in the Osa Peninsula.
During this time of double digit value loses in real estate around the globe cities in the region like, Dominical, Manuel Antonio National Park, and Drake Bay have seen triple digit rise in the last 12 months with no end in sight. When you have the government spending over $1 billion in a very concentrated region of a rural area with stunning natural beauty, the private money follows…like a tsunami.
Next post I’ll talk about more investments by the Costa Rican government and private sector projects that are ‘shovel ready’.
Bret G. Dudl
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