RE: What is the outlook on property value in Costa Rica?
Just some points that we consider to be important.
If you are looking at developing land in Costa Rica here are a couple of things to consider:
a) Title of land. Is the title clean? You can get title insurance there. (Hauser Consulting can provide a due diligence on the property).
b) Zoning. Can the land be developed as you want it to be? There is not a lot of zoning in place in Costa Rica, although municipalities for the past five years have started to put resources behind zoning. Each case would need a proper study.
c) If it is in the beach town is it titled or concession land? There’s a big difference. Contact Us for further information.
d) Do you know how to develop land there? Is the land on a public road? An easement? Are utilities nearby? Will you be building a development there? If so, you’ll need SETENA and INVU permits.
e) Who will be your in-country person to oversee everything? Let me know if you’re interested in this aspect of the business. I have a trusted network of bi-lingual professionals that I work with.
f) in terms of the market outlook. I’ve seen the market recover from the recession, which hit Costa Rica in 2009 and stayed through 2013. Prices in the north are not what they were pre-crisis (although I would argue they were unsustainable and will probably never get back to those levels). In the south pacific (where I’m more familiar with the market), prices have stabilized and have increased over the past 24 months.
In terms of pricing, as with all real estate, it depends on location, location and location.
If you need further assistance please contact us at
Info +(506) 6006-0502
Phone +(506) 2201-1484
Fax: +(506) 2224-1302