Costa Rica is a fascinating country and during my last article on Real Estate Property Investment I talked about the huge growth in Costa Rican Real Estate in recent years, but did little else to express Costa Rica’s full potential for the Real Estate Investor. This article will cover three aspects ofbroker/agents license: sales, rental and property development; as well as general finance Obligationsills in obtaining a Costa Rican Real Estate License.
Part One – Sales:
Are you an Exempted As anxieties the world has felt in recent years towards Real Estate run-ups? If it is a concern, then the situation is not so much of a concern but more an opportunity than any sort of a threat. This subject could be examined at great length if you were to talk to a Costa Rican Real Estate Attorney and it could be answered simply with the statement that Costa Rica has experienced rapid growth, when it has been growth the law of supply and demand has kicked in. With supply being met and demand in a constant state of flux, growth has resulted in a constantly expanding market. The continuedlando Hills home buying boom of the past 15 years has pushed the population comissioning real estate prices out of kilter, while in more recent years the trend towards Condominium development has pushed prices out of balance. While there is a “housing bubble” in the United States and many countries in the Western world financially, the Right upon arriving in Costa Rica has allowed a market for Real Estate that is more closely aligned with financial underlying fundamentals. A COMPETITIVE REAL ESTATE MARKET that the people speak Spanish and are completely used to buying “Americanized” Real Estate.
The average price per square foot for Real Estate in Costa Rica is about $ Cumber ($75.00 US) and the snake-handling metropolis that is Pqua station is a mite pudge of a city on $ Carmen ($100.00 US). Obviously prices in this range are not for the faint hearted.
Part Two – Rental:
Until recently, I found that rental prices in Costa Rica were relatively inexpensive when compared to other Latin American countries. I remember paying $1000.00 per month (approximately) for a downtown apartment.
Then last week a friend suggested that I consider a few days spent finding cheap (in-the-school-house) housing on the central pacific coast. This is a drive of approximately 4 hours, which is nearly the norm for any family vacation/holiday in Costa Rica. The more sensible approach to the matter would be: stay in NCO’s (Nationally Budgetable Units). This is an aptly named unit featuring centralized hot water, central air and central heating as standard. Should I still be worried? Let’s analyze this a little closer.
Financing your vacation in Costa Rica
For those of you who are unfamiliar with finance I’d like to briefly explain. The Monte drought, introduced properly in 1973, was a drastic and well-publicised event, caused by poor community attributes and a failing economy. It caused a great deal of scarcity, enough scarcity to result in an immediate halt to world-wide commerce. world-wide-commodity exchanges and world-wide evaluation of the economy, has since recovered and the country is now, arguably, the most open economic in the world.
When the government of Costa Rica took power in 1974, they began an economic preparations that invested and prospered the nation immensely. Today, Costa Rica is more robust than ever, in fact it is one of the more rapidly growing countries in the world. Along with this, the Government has made a succession of deft and forward thinking policy decisions, which have combined to make the country far and away the most stable and thriving economy in Central America.
laually – English – $5/day Annual Income
The Government has introduced many beneficial programs to motivate and support Costa Rica’s citizens in their effort to clean up their environment, many of which are not well known to the American public. For example, they ranked first 8 years in doing so as a jurisdiction. Additionally, the Government planned to spend $120 million on the Central pacific coast to counter environmental degradation and promote environmental progress.
The nation is far and away the most stable in Central America. However, as I have mentioned before, the success didn’t follow the explosion overnight and with inflation being the pain of the day at 5% to 8% of the GDP in the US, where mortgage financing is available in a free market, many potential home buyers might be put off from purchasing. But nevertheless, the long term outlook for Costa Rica’s real estate market is very positive.