Country Reports and News
| Costa
Rica |
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Breaking
News:
- A full 50% of new projects in
Central America are located in Costa Rica.
- From the Holiday Inn at
the San Jose airport to luxury resorts along the Pacific
coast, Costa Rica is considered by major hotel operators to
be the next most important destination (after Mexico) for
the American customer base.
- Building on an already well-established trade
agreement, Mexico is investing more than US$400 million in
Costa Rica, with an emphasis on financial services, the
food industry, communications and construction. The added
boost to the construction sector is welcomed by the Costa
Rica real estate market, since an increased construction
budget means Costa Rica real estate will become even more
desirable.
- On 1 October 2008, PriceSmart, Inc. said it signed an
agreement to acquire properties in Costa Rica for the
construction of new PriceSmart Warehouse Clubs and the
development of adjoining Commercial Centers. It is
expected to open by the end of 2009.
- The recent far-reaching slowdown of real estate sales
and property investments has affected many areas of the
worldwide real estate market, but financial services in
Costa Rica geared towards investors and buyers from foreign
countries, especially the United States, are still being
established in the country’s real estate “hot spot”
regions.
- The Central Pacific region, specifically the areas in
and around Jacό, has seen the greatest number of these new
financial establishments. Foreign investors and real estate
buyers have welcomed these businesses and are finding them
to be an excellent alternative to the traditional Costa
Rica banks for their mortgage needs.
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