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Why Costa Rica Real Estate Prices Are Going Up
People who have never visited Costa Rica always ask me the same three questions. Is it safe? How is the medical care? Is the real estate market going up?
On December 14, the Wall Street Journal reported on a phenomenon that Canadians and Americans also are beginning to discover.
According to the article: "The housing slump has sent many Americans shopping south of the border.
Existing-home prices... are still climbing in much of Latin America and the Caribbean. ... In San Pedro, Belize, the average price of a 2,200-square-foot home was $697,500 in September, up 18.6% from a year ago, according to a study by Coldwell Banker; the price of a similar property in San Jose, Costa Rica, was up 20.7%, to $389,900, the study said.
Costa Rica has been popular for years because of its stable democracy, friendly people, beautiful beaches and stunning biodiversity. Starting with the 2003 opening of The Four Season Resort in Guanacaste, along the Pacific Northwest coast, direct international flights to the Pacific Northwest have increased exponentially, driving an investment boom. Available airline seats are up 26% over last year.
What is new in 2008 is a policy change that looks to drive real estate values up even further. Real ... more
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