Popularity - North American retirees or expatriates seeking a hideaway, but now the appeal of Costa Rica is reaching a wider audience as eco tourism takes off in Costa Rica in earnest and the numbers of those seeking second homes or a brand new home in Costa Rica are growing. Natural beauty of Costa Rica – palm lined beaches, a coastline that brushes both the Pacific and Caribbean oceans, magnificent mountains and rainforest – and these natural attributes are attracting more and more tourists to the country every year. Investment is required into accommodation and general tourist facilities and to this end the government of Costa Rica are working to make the investment environment as attractive as possible.

For the investor – there are many opportunities in Costa Rica’s tourist sector. Alternatively a real estate investor could seek to target the growing numbers of visitors seeking quality self catering properties for short term rental or those looking for holiday properties for sale in Costa Rica. Many resorts in Costa Rica have seen some of the greatest gains in property value of late. An investor can look to some of the good rental yields as well if he carefully selects the product.

The retirement market – Costa Rica with it’s easy access from North America, is already home to many retired Americans, the cost of living is low, property costs are cheap and the country is regarded as safe therefore it is of appeal to a growing number of retirees seeking a cheaper alternative to their home country to make their retirement savings go that much further. Further, it is a fun country with nice people and it’s beauty never ceases to cause one to marvel when looking at the mountains, valleys and oceans.

The investment climate – Costa Rica is and has been politically and economically stable for many years. It has no army to defend it either and has a strong positive bond with the US which makes it a safer emerging market for property investors than many in Central America.

The economy has been gaining strength since 1997 and the government is committed to maintaining the strength of the economy by attracting more overseas investment and offering significant investors generous tax breaks. The long term appeal of the Costa Rican property sector becomes obvious.

Playas del Coco will be getting a major supermarket as part of the Pacifico project there.

The Jack Parker Corp. said a 20,000 square foot Auto Mercado will be part of a commercial development that also will contain other small businesses to service the 175-acre project.

The New York-based company says it has 56 residences under construction and scheduled for completion starting in March. The company set Saturday as the official start of its sales effort.

Playas del Coco also is the home of the sprawling Mapache condo development that transformed the fishing village into a major real estate marketplace.
The Jack Parker Corporation said in a news release that it is looking to Costa Rica because the U.S. real estate market is slowing, there are runaway home prices there and land is disappearing.

The 500 residences within Pacifico include 350 condominiums, town homes, and villas, 20 rental apartments and 150 single-family home sites. Floor plans are available with one, two, three or four bedrooms, and prices start from $150,000. Home sites, most with Pacific Ocean views, range from the $90,000 to $400,000.

Playas del Coco has been a construction hotspot since flight operations have increased at the Daniel Oduber airport in Liberia. The Jack Parker Corp said its development is just 22 miles from the airport. Lately some slowing in real estate sales in the Playas del Coco area has been reported as a result of the declining U.S. market.

Courtesy of: AM Costa Rica Staff