According to the CIA world fact book, Costa Rica is a ?Central American success story.? The government of Costa Rica is keen to expand this country?s success and have announced the implementation of a seven year plan for the economic expansion of the country.
To this end they are actively encouraging international real estate investors and those looking for a retirement or second home overseas to come to Costa Rica and explore its exciting and affordable property market.
Right now the real estate market in Costa Rica is booming as a direct result of the Costa Rican government's commitment to promoting the property sector. This is due in large part to the implementation of a series of a tax breaks and incentives that have been made available to overseas real estate investors. The success then of the Costa Rican property market is practically guaranteed.
Two main angles for property investors to explore if they are looking purely for real estate investment opportunities-
Firstly as the natural beauty of Costa Rica proves an irresistible draw for more and more travelers and those in search of the perfect getaway, so the demand for rental and hotel accommodation in Costa Rica is on the increase. The supply of quality accommodation in Costa Rica cannot meet current demand and this situation is likely to deteriorate as the popularity of the country increases. The government wishes to develop specifically for the tourism market and is well aware of this fact and is keen on maintaining it.
Secondly Costa Rica is becoming increasingly popular with the soon to retire US baby boomers who are actively seeking an affordable and attractive location in which to retire. Because Costa Rica enjoys relatively low crime, is neutral, has a relatively high standard and low cost of living it is gaining a reputation among pre-retirees as a must-consider destination. There is therefore room for the development of real estate to suit this particular market or for the purchase and long term lease of real estate to this market. This particular group of people also represents a strong resale demand for those who buy now, improve property and intend to resell in the medium term to release gains accrued.
The government in Costa Rica is working flat out right now to promote growth and as such the market right now is booming, and is only expected to continue. Those interested in making a move should consider committing to the market sooner rather than later while it remains a buyer's market and before opportunities for the strongest investment gains are eroded by increased levels of investor awareness and interest. Now is the time to invest and increase your profits while there is little risk and big gains.
