During the first decade of the 21^st century, Costa Rica went through a very active period of real estate appreciation and land development. This period coincided with a housing market bonanza in the United States, which came to a crashing halt in 2008 and is widely considered to have been one of the precipitating factors of the global financial crisis.

 

To a certain extent, the development boom in Costa Rica is still ongoing, but an international real estate brokerage believes that the market is due to enter another period of acceleration. A recent press release by Palms International, a Costa Rica and U.S. based resort real estate sales and marketing company specializing in resort real estate throughout Central and Latin America, suggests that investors should consider purchasing at this moment.

 

The following paragraphs have been excerpted from the press release by Palms International:

 

As the Costa Rica real estate and investment markets prepare for the next big boom, 2015 may represent the last chance for great values and outstanding opportunities on purchasing investment property and development land in Costa Rica. Prime development land in the coastal regions, specifically along the Pacific, is once again on the radar with a consistently improving real estate market that is fueled by record low pricing, simply due to the basic economics of supply and demand for prime development property.

 

From the building of a new Chinese economic zone, near the recently expanded port of Caldera on Costa Rica’s Central Coast, to the newly proposed International Airport near Orotina combined with the announcement of a $450 million World Bank Loan to improve infrastructure countrywide, the real estate investment environment in the Central Pacific region can best be described as “rich.”

 

Stemming from an improving real estate market in the Americas, where the market is shifting from first to second home buyers, rising tourism in Costa Rica and foreign direct investment reaching an all-time high, there couldn’t be a more opportune time to buy land in Costa Rica.

 

“After being one of the hottest real estate markets on the planet in the mid-2000’s and with the subsequent collapse of real estate values throughout the U.S., Latin America and the Caribbean, Costa Rica now has a wealth of incredible real estate values,” says Amanda Jennings, of Palms International Costa Rica.

 

“We are now seeing an increase in real estate investment and major hospitality groups from the U.S., Latin America and China are researching and purchasing development land in record numbers. The substantially lower land prices that we currently see won’t be around long. Prices will soon begin to move back towards pre-recession levels over the next 12-24 months as supply tightens,” adds Jennings.