Investors in Costa Rica
look more toward
Tamarindo region
Costa Rica’s real estate is setting a torrid pace
amongst foreign nationals, with 2014 again
expected to be a busy year. Supported by a
strong recommendation from International
Living magazine ranking it as one of the best
investment locations in the world, Costa Rica is
on target to reach new highs.
The year 2012 saw more than two million
international arrivals and development and
construction continued its healthy run during
the first quarter of 2013, then just continued
on that track throughout the year. So far this
year, the Central Valley is attracting the most
buyer attention. But on a per capita basis, the
less heavily populated Tamarindo region of
Guanacaste’s Gold Coast is setting the sales
pace this year.
Costa Rica’s Central Bank says the country is
experiencing quarterly sales increases that rival
the boom year of 2000.
North Americans lead the rush of those foreign
buyers in search of a second home investment
in Guanacaste, where rental properties are
in high demand. But while North American
foreign buyers comprise 65% of buyers in that
state, it is expected that new financing and
credit options will attract more of Costa Rica’s
own growing middle class and drive up prices
in Guanacaste.
Luxury real estate leads the
way in Costa Rica
Baby boomers seem to be on the lookout for
good buys in Costa Rica. This section of the
foreign buying market is particularly attracted
by the beauty of the country, the reasonable
cost of living and good living standards, and
sees their purchases as a great investment
opportunity.
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The country has for a long time been seen
as attractive due to its treatment of nationals
and expats equally in the area of property law,
and the fact that there is neither property tax
nor residency restrictions for foreign nationals
wishing to own real estate.
Luxury property prices remain strong, even
as lower priced real estate has stagnated or
dropped in value. High net worth buyers are
drawn by the unique experiences on offer here.
Costa Rica is also seen as an eco-friendly nation,
and a place of incredible natural beauty.
The strong market for luxury purchases in
Costa Rica has not been limited to real estate,
however. In 2011 as the country’s economy
struggled along with the rest of the world,
the sale of luxury cars jumped 15% over the
previous year and more than half of the sales
were made to foreign nationals. Luxury apparel
sales and vacation stays also jumped and
the trend is expected to continue as Costa
Rica’s international appeal among the luxury
segment of the buying public improves.
Airline traffic continues to
set records
Worldwide airline passenger growth is set to
rise fastest in the Middle East and Asia-Pacific
regions during the five-year period between
2012 and 2017, with the overall rate likely to
rise by 31.2%, according to the International Air
Transport Association (IATA).
The association predicts there will be 3.91
billion passengers annually by 2017. Of the
anticipated increase of 930 million passengers,
638 million will travel on domestic routes and
292 million on international routes. After the
Middle East and Asia-Pacific, Africa and Latin
America will likely see the fastest growth rates.
The largest single market will be China and
nearly one-quarter of all new passengers are
expected to be in that country. Traffic in the
Asia-Pacific region is to account for 31.7% of
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