Costa Rica’s Real Estate Development Climate
- by crv.staff
- 2:49 PM UTC
In my last post I talked about Costa Rica’s real estate development climate along its southern Pacific coast. (It’s as warm as the weather. ) Here are some additional shovel-ready projects that are in the works.
Currently, in the Central and South Pacific regions of Costa Rica, private development has funded three marinas and a dozen major coastal developments worth nearly $2 Billion. Marina Pez Vela in Quepos will open 100 slips next year, the Golfito 217 slip Marina is almost finished with their Environmental permitting process, and the ultimate Carara bay Marina & Resort in Punta Leon has broken ground on the country’s most ambitious marina development ever. Furthermore, the Green Coast Pacific development in Dominical is underway with several of their 12 developments already completed totaling $650 million in Dominical.
Tourism has become Costa Rica’s leading industry. The government has encouraged environmentally responsible development. The country is ranked #1 in the world for eco-tourism. Significant development began in the north Pacific region, when the government began operation of the international airport in Liberia in 1995. Prior to the global real estate downturn, property values in the north jumped in some locales by 2000% in the last 10 years (3000% near the new airport) as vacationers and vacation home buyers had easy access to air transportation.
With a new golf course, many restaurants, retail and rooftops coming out of the ground, the southern pacific zone in Costa Rica very well may be the cure to any unhealthy real estate portfolio.
Bret G. Dudl
Like this article? Get more articles like this - Subscribe Now