In the past few years the dynamic of the Cost Rican market has changed significantly. If you are interested in foreign real estate investment in Costa Rica, now is the time to buy. Buyers who are conscience want their property to work for them and are exploiting other areas. For example, a property with a waterfall or a river will be beneficial in the future for hydro power. Also, aquaculture and fishing can be a selling point in the years to come where water is abundant. Features such as these will complement future needs. The population in Costa Rica is growing, rapidly and properties with these resources will become limited.
Two important expansion projects were approved in 2014. One of the two is to move and replace the Costa Rican main airport to Orotina, which is currently located in the province of Alajuela. This future airport is scheduled to open as soon as 2025 and will triple the current capacity of Juan Santamaria International Airport. The second approval is the expansion of the airport located in Costa Rica’s south. Both of these projects are to expand tourism. The expansion of tourism will positively affect any foreign real estate investment in Costa Rica.
There is a large demand in the San Jose area for gated communities and vertical residences. Specifically the gated areas offer security, which is attractive to both non-citizens and Costa Ricans. Condos also offer security, as well as amenities and luxury finishes. In 2014 and 2015 the condo trend was in an uptick and that continues now. Hot spots like La Guacime, Santa Ana and Alajuela are seeing a rise in mixed zoned areas, which include commercial and residential. Low-rise condo towers are becoming very popular as well, especially in these areas. In the coming years Costa Rica will continue to grow, so now is the time to make a real estate investment.
There are many different real estate options in Costa Rica. Everything from condos, to homes or villas is available. You can start from scratch by purchasing land and design yourself or buy a home on the market.
