Costa Rica Real Estate Market Report 2011

With the fall in the prices of Real Estate, there has never been a better moment to invest in Costa Rica, and now due to the changes in the market a new type of investor is emerging.

With the end of the  “no money down mortage age”, the current buyers are different; they are no longer the speculators and flippers. These new players on the real estate market have their own savings or genuine income, are serious buyers and they are very often near retirement age.

This client would much rather spend their valuable time enjoying a natural relaxing environment with all the comforts and amenities of a residential community. In other words it is not the adventurous investor that used to come as pioneers to dedicate their entire time to the design and development of their project; today buyers are looking for a product they already are familiar with, something that is already done. Already has permits and infrastructure in place, ready to be lived in or used an income generating property.

The new trend buyers are leaning toward are gated residential communities but, in contrast to North America, in Costa Rica the maintenance fees for residential communities are substantially lower, with much less restrictions. The most common form of condominium in Costa Rica is the mixed use development, which consists of duplex homes, free standing homes, town homes as well as the traditional multi family building. Each individual home can be subdivided and independently registered to its owner. Los Delfines Golf & Country Club is a good example.

Contact Century 21 Beach Area Properties if you are looking for real estate in Costa Rica.