Costa Rica!
And no, this isn't a "hook" - it's real. Houses in the gated community of Costa Real near Jaco Beach in Costa Rica first went on sale 2 years ago for $160K. These same houses are now selling for $265K, and it is very likely that they will continue to appreciate significantly.
Consider this - these houses are brand new, 2 and 3 bedroom homes, where each bedroom is a master bedroom. The community boasts of numerous amenities, like pools, tennis courts, basketball courts, community BBQ area, and just a 3 minute walk to the beach. Okay, well it isn't beachfront. But the only thing separating this community of lovely homes from the clean, award-winning Playa Bejuco (Bejuco Beach) is a set of palm trees! So there's no hotel or condo building separating these houses from the beach - its some of Costa Rica's beautiful palm trees.
And don't think that this is the ONLY example of this kind of appreciation. Costa Rica's appreciation rate in general is 10-30%+ - with the higher appreciation rates being seen in the coastal areas of course. This strong growth is being driven by several factors, including continuing tourism growth, continuing infrastructure development, and a country that makes it easy and safe for foreign investors to bring their money. With all of these factors combined, you have a real estate environment that is prime for massive growth.
In fact, the growth has been going on for several years now. Real estate developers have been hard at work building condos, hotels, and communities. But the commercial retail development has not kept up. Many areas in Costa Rica are now facing a situation where they are in need of retail services to support the community. This means that opportunities are plentiful for commercial retail development as well.
Tiffany Wilson is a real estate investor and an International Real Estate Consultant for Compass Properties, with offices in US and Costa Rica locations. She is passionate about Costa Rica and loves telling people all about it! She can be reached at twilson@compasscostarica.net. Check out Compass Properties website at http://www.dreamingofcostarica.com/ for more information on Costa Rica real estate opportunities.
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