Its exports remain strong, tourism numbers are at record levels, and the country has one of the highest levels of foreign direct investment per capita in Latin America.
Historically, Costa Rica has been a profitable region for real estate investment, with between 15 and 20 per cent returns recorded year-on-year from 2000 to 2008. The financial crisis did have an impact on the market, but prices have stabilized in recent years.
Foreign investors have been capitalizing on this particular market of late with purchasing activity already up 14 per cent in the first quarter of 2013 compared to the same period last year.
Economically, Costa Rica’s GDP is expected to rise, which will fuel investor interest. The IMF indicates that the GDP will increase by 4.2 per cent in 2013 and 4.4 per cent in 2014.
In the aftermath of the global crisis, overinflated real estate prices dipped to more realistic and fair market values, according to local real estate agents.
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate
Investment Hot Spots:
Bowman, Rorketon, Baker-Brook, Rocky View County, Libau
From its political to natural landscape, there are many reasons why Costa Rica is viewed by investors as one of the safest emerging markets in which to expand their real estate portfolio.