There is a strange phenomenon happening for the last 4 months here in Costa Rica. In our business and with some associate Realtors, we have seen a noticeable drop in inquiries. However, the ones of late are of much higher quality. What I mean by higher quality is that they are a more seriously minded buyer and have cash. Before there we had a larger number but mixed with a large number of curiosity seekers. This results in more efficiency and certainly increased sales even with the lower count.

We are very pleased to report this during these times with the US market crisis.

One would have thought that the Europe and English buyers of Costa Rica  Real Estate would be coming here in droves. Personally we have not seen that much of an increase there even with the high cost they are experiencing in their countries and the buying power of the Euro.

As you watched the market spin down last week, it appeared to support the old belief if the USA sneezes the rest of the world gets a cold. Other markets fell dramatically in sync with the US. That would lead one to believe that the US is still the factor in real estate here no matter how bad it looks for the dollar.

This is merely an observation, but when correlated, it seems we cannot bank on the foreign markets as one would assume.

Our large development projects division indicates that there is still a high level of confidence here as we are swamped with requests for large tracts for Hotel, Casino beach front and ocean view land. This is made up of 80% USA then the balance from Europe and other sources.

With over 70,000,000 baby boomers on stream, and Costa Rica’s Real Estate ranking (in the top 5 in the world) and Tourism rating I am sure this factors into it and the confidence has not fallen even in light of the US market.

Our banks are finally taking an int erst in end financing which is helpful especially for the investor types. Hopefully the rates will get more favorable with the recent US drop in the prime rate.

We are beginning to see an upturn in inquiries again and feel this will continue through 2008. We need to be very sensitive about pricing of product as there are some pretty attractive buys in the USA today.

We are fortunate to be able to offer low taxes, great climate, good proximity to the USA, excellent health care, high standard of education, friendly people and beautiful country.

We have more Americans per capita here than anywhere else in the world and there is a large mix of other nationalities.

I have every confidence that Costa Rica is still a very viable consideration for retirement and investment.

If you are an investor or planning retirement, please feel free to call me at any time toll free at 1 888 581 1786 for any further information you may need.

Caldera highway gets construction go ahead at last

By the A.M. Costa Rica staff
Transport officials have given the much-awaited go ahead for the $230 million San José-Caldera highway.

This means that Autopistas del Sol S.A., the concession holder for the project, has 30 months to complete the highway. The 77-km (48-mile) highway will decrease dramatically the travel time from the Central Valley to the Pacific coast.

The first stage of the job is the reconstruction of the existing highway from Parque La Sabana to Ciudad Colón. Much of the highway already is multi-lane.

The big job is a 39-km (24-mile) section from Ciudad Colón to Orotina. That highway is only graded roughly now, although bridges are in place. The third and final step is improvements of the highway from the Orotina interchange to the Puerto de Caldera at Puntarenas.

Autopistas del Sol will have the right to collect tolls for 25 years to offset the investment.
The Ministerio de Obras Públicas y Transportes said that employees worked during the holidays to make sure all the requirements were in place for the start of construction.

Autopistas finally got all its financial commitments in order four days before Christmas, and a company official asked to be allowed to start work a week ago.

During the holidays transport ministry workers said they got final approvals from the Ministerio de Ambiente y Energía, reviewed and approved plans and did the paperwork so that the company would not have to pay taxes on imported equipment. Environmental approval was needed because Autopista will take gravel from several deposits along the route.

Ministry workers also had to coordinate with the Compañía Nacional de Fuerza y Luz, the Instituto Costarricense de Acueductos y Alcantarillados and the Instituto Costarricense de Electricidad for moving water and sewer lines, electric lines and telephone cables, they said.