Tuesday, October 8, 2013

Record levels of real estate acquisition and development in Costa Rica

La Nacion reported a sharp increase in real estate acquisition and development by foreign investors in Costa Rica in the first quarter of 2013

This contributed $377 million to the national economy.

These increases are confrmed by an increase of 13% in real estate purchases in the Central Valley during the the first quarter of 2013 (Q1). 

La Nacion reports that the Pacific Coast has experienced an increase in residential investment whilst San Jose and the Central Valley have seen  more commericial real estate investment. 

The Central Bank of Costa Rica reported that the $377 million enjoyed by the real estate sector represents 90 percent of revenue in 2012; in other words, the real property industry seems to be booming once again. 

Estimates by La Nacion indicate that the quarterly increase has been the highest since the year 2000.

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