The  Costa Rica Real Estate  industry is patiently awaiting the signs of the USA economic recovery while our own is quietly showing very positive signs. 

All the major infrastructure work that was underway never ceased and now most of it is complete adding a lot of fuel to the fire of recovery.  Commercial occupancy rates are still very high and flights are still packed coming into Costa Rica.  Real Estate is picking up as well but mainly on discounted property. 

Please read the following reprint from Inside Costa Rica.
IMF: “Economic Recovery In Costa Rica Is Firmly Underway”

A staff team from the International Monetary Fund (IMF) visited Costa Rica during April 7–13, 2010 to conduct the third and final review of the Stand-By Arrangement (SBA) approved in April 2009. The mission met with Finance Minister Jenny Phillips, Central Bank Governor Francisco de Paula Gutiérrez, other senior officials, and representatives of the financial sector.

After the conclusion of the discussions, Mr. Marco Piñón, the IMF mission chief for Costa Rica, made the following statement:

“The economic recovery in Costa Rica is firmly underway. Economic growth rose in the second half of 2009 and remained strong in the first quarter of 2010. Consumer and business sentiment have firmed up and financial conditions have continued to improve. Adjustments in administered prices have pushed inflation to 5.8 percent in March, compared to 4 percent at end-2009, but underlying inflation has remained stable close to 4 percent. Overall, the rebound in activity has been stronger than originally anticipated.

“The economic outlook has also improved since the previous review in December 2009. The projection for output growth in 2010 has been revised to 3.8 percent (1.5 percentage points higher than before). Inflation is expected to be close to the upper end of the central bank’s target band of 4–6 percent in 2010.

“Performance under the precautionary SBA with the Fund has continued to be very strong, as the authorities met all quantitative performance criteria for end-December 2009 and preliminary data suggest that the end-March targets were also met.

“Overall, the authorities’ policy response to the crisis, supported by Fund’s SBA, has proved effective. The government’s strategy to shield the economy from external shocks with external resources, which in the event were not used, helped preserve confidence, maintain stability, and protect the most vulnerable groups. A supportive fiscal policy has provided a boost to the recovery and a cautious monetary policy has allowed inflation to move to low levels.

“The mission expects that the IMF Executive Board will consider the third and final review of the SBA in late-May 2010. The authorities have indicated that they will continue to treat the SBA as precautionary.”

We at Costa Rica Retirement Vacation Properties have been had a strong focus on finding good properties that are favorably discounted to  accommodate the current market.  So far results have been favorable as we have had quite a few sales as a result.  That too indicates that the market is there and you can’t blame clients for seeking deals in this market.

Here is an example of a timely opportunity and taking advantage of the market.

This is the first Costa Rica Golf course in the beautiful southern zone of Costa Rica.  The developer here is truly committed to doing things right.  His debt free approach and concept of populating the area  quickly with good incentives through deeply discounted pricing and waiving the initiation fees is certainly a formula for success.

People could only dream about a south Pacific Golf course, now it is real with 9 holes already  finished.  The locals will eat up this opportunity not only as a place to play but as a social area as well.

For more on this great place to live and invest, contact Robert or Annie at 1 888 581 1786.

This weekend on the Costa Ballena (Whale Coast), the community is organizing the “Whale and Dolphin Festival”, with activities for each and all. The Ballena Marina National Park Organization and the Environmental Ministry (MINEAT) has gone to all lengths to make this a successful event.

All weekend, there will be Whale Watching tours, a photography exhibition, and a general exhibition stand on Punta Uvita beach by the Whale´s Tail, a sandbar that forms the shape of a Whales Tail at the beginning of the Marina Ballena Park.

On Friday, Sept. 4, there is an Environmental Parade, a workshop for Children, a Public Workshop with 20 minute lectures, and an environmental film and forum discussion.

On Sat., the additional events include a Sand Sculpture Contest, Face Painting, a Storyteller group, Art contest and a cultural night at the Community Center and Craftswomen Center.

Sunday will conclude with Traditional games and more Whale watching tours.

The community involvement is incredible.  When people move here they may chose to become part of a greater cause, saving the environment!  With these types of events, everyone who wishs to may contribute.  From my own home, I have seen the hump back whales leaping from the ocean with their babies.  To think that their future is being endangered is frightening.  This is a chance to do something positive and fun to help.

Contact me for more on this great weekend event.   Annie 1 888 581 1786

REPRINT

SAN JOSÉ, Mar 8 (IPS) – The Costa Rican government has declared retirement communities, aimed at attracting U.S. pensioners, to be “of national interest.” Plans to create “retirement clusters” providing complete health services for older adults are seen as a profitable prospect for this Central American country.

Old people as a business: this is the bottom line of the government and private sector’s new project.

Noting the rapid development of the “health cities” in Mexico and Panama, Costa Rican officials and entrepreneurs are poised to tap into the perceived gold mine among middle and upper-middle class senior citizens of industrialised countries.

The concept is simple, and includes slashing red tape to the minimum by providing one-stop residence permits at the Migration Directorate, so that foreigners, especially the well-heeled, can come to live in the country.

Tax exemptions on real estate and vehicles are on offer, and a promotional campaign aimed at older adults abroad will be run by the Costa Rican Institute of Tourism (ICT). The government will also boost training of human resources such as health personnel through the Costa Rican Social Security system, and seek to attract investment.

The Competitiveness Ministry has already identified eight locations for retirement clusters in Costa Rica, in areas of natural beauty with plenty of tourist attractions, and close to large hospital complexes.

Promoting Costa Rica as a retirement haven includes much more than boosting real estate sales or medical tourism. “It includes the hotel sector, travel, hospitals and research. Costa Rica will benefit from it,” Competitiveness Minister Jorge Woodbridge told IPS. Patients and their relatives are likely to travel all over the country, staying at hotels and engaging tour operators and so on.

Every 10,000 retirees are expected to generate employment for 40,000 people a year, 10,000 of them in direct jobs and 30,000 indirectly. The average income of the target population (middle and upper-middle class U.S., Canadian and Spanish citizens) is 3,500 dollars a month.

The main Costa Rican medical centres are already building two major hospital complexes in the city of Liberia in Guanacaste province, the top tourist destination in the country. They will comprise a hospital and residential zone, where services will be provided for four levels of care: active retirement, independent living, assisted living and skilled nursing, in increasing order of patient need.

A small retirement community for 12 people, the country’s only operational cluster so far, has opened on the slopes of the Poas volcano.

The owner, Ronald García, told IPS that “coming to Costa Rica has economic advantages” for foreign pensioners. “They pay for accommodation and medical care, and a family visit from home once a month, and it costs less than paying for medical services back home,” he said. His customers pay 1,600 dollars a month, whereas in the United States they would have to pay 4,500 dollars a month for comparable services.

“We want to attract 10,000 pensioners a year,” Woodbridge said. Estimated annual foreign exchange earnings per 10,000 retirees are 340 million dollars, “so in five years, the total would be 1.7 billion dollars,” he calculated.

In any case, the plan will take at least five years to take off as a national strategy, Foreign Trade Minister Marco Vinicio Ruiz told IPS.

Other Latin American countries have a head start on Costa Rica. Mexico, which has been developing its policy for over 20 years, is now home to 700,000 pensioners from the United States who are living in Mexican retirement communities.

Its other rival is Panama, which has been advancing in this direction for about a decade. Panama has five retirement communities at present, with another 42 currently being licensed and built.

But the government authorities are optimistic. The climate, enormous biodiversity, security, stability, and polls describing Costa Rica as “the happiest country in the world,” are factors that will work in its favour, according to Woodbridge.

Costa Rica’s reputation as “the Switzerland of Central America” will also help.

Not everyone is in favour of the creation of this new market, however. “It will affect the rights of the people of Costa Rica,” said Carlos Páez with the National Union of Social Security Fund Employees (UNDECA).

Páez said “if this is put into practice, doctors and nurses will go into private medicine,” which could bring about a crisis in the Costa Rican public health system, presently stretched to the limit. “There is already a lack of specialists and health personnel,” and the flight of these workers to private clinics and hospitals will only increase the shortage, said the UNDECA trade unionist.

“The first thing the country should do is to solve the crisis in the social security fund, before opening the market to additional demands,” Páez argued.

Every day, some 6,000 people reach the age of 65 in the United States. The baby boomer generation, born between 1945 and 1964, controls 77 percent of the available financial resources of that country.

Forty-six million people in the United States have no medical insurance, a fact that Costa Rica plans to use to attract U.S. older adults to its shores.

How about a project with no debt in a beautiful setting.  Here is one that you can very safely get  involved in without risk and at the same time get a fantastic deal.   Very wisely, this developer understands that this market calls for very safe investment criteria and demonstration of population in the project.  They have it covered as good as any I have seen.

The safe investment part is simply “a project without debt“.  The Population part is reflected on the deal the developer is offering  on the Condo Towers to attract residents and investors wishing to rent their units as well as use it for a Vacation home in Costa Rica. IT IS PRETTY HARD TO GO WRONG AS AN INVESTOR OR RESIDENT ON  THIS KIND OF PLANNING. You will h ave to  find your won long term financing if that is what you need.

I had my on site interview with the owners last Saturday and viewed the project for the first time.  This is the first Golf course in the area and is set up perfectly blending interesting layouts, lush tropical foliage and a par 72 with a good rating.  It has nine holes ready NOW.

It is set in a valley of majestic mountains surrounding the whole complex..the course winds it’s way around the flat lands and up through the hills setting some very interesting holes and spectacular Golf views.

The project will consist of homes, lots and Condos.  The quality is right on the money.  There will be a very nice clubhouse, Golf training center (which is almost complete now) and offer many activities both in the complex and nearby.

Construction of the Condos is well underway and very well planned to accomplish their objectives both safely and securely for themselves as well as their clients.  The first tower completed in 3 months with the second right behind it. The next will be higher up but not hard to access.  The views change very moderately as you go up the hill but any location has a good view and access.

How about 1350 square feet, fully furnished, 2 bedrooms nicely laid out with balconies offering mountains and ocean views for $257,000.  Not only that, the initiation fee of $25,000 is waived in these Condos to help jump start populating the project.

You will be asked for a 20% down and balance in payments scheduled to match your completion completion date.. This is a Costa Rica Golf Property that makes sense.

For all you need to know about this one contact us now:

So many people have been hit financially by the economic downturn that they need to have additional retirement income.  Many are thinking of retiring offshore and picking up B&B operation that can not only provide a place to live but generate income as well.

Jaco beach, Playa Hermosa and Esterillos are perfect locations to start your new life and Costa Rica business.
It is easier now than ever before to realize your dream by purchasing a B&B in the central pacific area. Costa Rica Real Estate prices in Jaco, Playa Hermosa and Esterillos are now affordable so you can have that Pura Vida lifestyle and make money at the same time.

Resort. You can enjoy a beautiful 3 bedroom 2 bath US style owners residence with all the upgrades and realize a good retirement income at the same time.  This Mom & Pop Costa Rica Hotel has 8 separate vacation suites that will make you money year round.

This is a PRIME SURFING LOCATION, Hermosa Beach and Surfing is a very good market for this Hotel.
Ask for cash flow projections on this one.  Find out how you can live for free and earn $70,000 annually living the life of a retired person in the sun.

Jaco Beach, Playa Hermosa and Esterillos are popular with the many tourists that come to enjoy the beautiful beaches, fishing, surfing and the abundant wildlife and local activities.

Another B&B  nearby that comes with a beautiful owner’s residence is the Playa Hermosa B&B.  This secluded property has beautiful tropical landscaping and is hidden away but still close to everything. It is within walking distance to the pristine beaches of Playa Hermosa and just 5 minutes to all the restaurants, shopping and nightlife to be found in Jaco Beach.

The new highway connecting the capital city of San Jose & the International Airport to the Central Pacific beaches has recently opened after 30 years in the planning. This has caused us to see a tremendous increase in tourism and demand for hotel rooms and vacation rentals in our area.  Jaco Beach is now only and hour and 10 minutes from San Jose so if you want to retire in style and lead the good life; you just may want to consider the Central Pacific area of Costa Rica.

I live here full time and feel that I have made the best possible choice by moving to this beautiful Costa Rica Beach area.  If you have any questions about what it’s like to live here; please feel free to contact me as I manage the Lifestyle Real Estate Tours for all of this area and will include all there is to see for the time you allocate to properties.

Carol Odonnell: Cell: (506) 8318-0717 Location: Hermosa/Jaco beach Position: Marketing Director Central Pacific Telephones: Office (506) 2778-7410 Toll Free: 1 (866) 374 -8522 Email: carol@costaricaretirementvacationproperties.com

How the market has changed…….We are seeing some exceptional values these days as the World markets are dictating.  This one is 5543 square feet and priced at $485,000.

This is classic example of opportunities in Costa Rica Real Estate today.  This is one of Costa Rica’s primer Golf communities and very well built and designed home.

Golf families will love this one.  It is 5543 square feet and priced at $485,000 and is in Cariari.

Cariari Country Club features Lifestyle for all with it Olympic poll and smaller ones for the smaller family members along with many Tennis courts both indoor and outdoor and lighted yet.  All the facilities are here. Great for entertaining, family outings and more.  Best of all it costs only $1000 per year after basic membership.

Drive you golf cart to the course and join in the skins game every Tuesday 6, Thursday and Saturday.

Subscribe to our Blogs at the top and for more information on this one……..

Robert Shannon: Cell: (506) 8820 5627 Location: San Jose office Position: Director of marketing  Telephones: (506) 2293 2446 – Toll Free: 1 888 581 1786 Email: robert@costaricaretirementvacationproperties.com

I have so many people in this market that have been to Costa Rica seeking property close to the beach for a very low budget..  Until now, I just couldn’t help them and they either settled for something else or decided not to buy.  Now, I can.  The opening of the new highway as well as the advancement of this small project has changed all that.

Last week Robert wrote about  clients seeking investment properties in Costa Rica and are coming to Costa Rica ready to buy.  He suggested that it doesn’t work that way for various reasons.  Well, I have broken the rule because I have one that is very real value and you don’t have to wait for it to com along, it’s here and now.  Yes, it was some time coming as lots needed to be separated, roads and services had to be installed.  I have been on this one for a year and I wanted to be the first one to know when it was truly ready for market

Imagine a property touching a beautiful wide river that you can swim and fish or take boat with mountains in the background and more, only five minutes to a wonderful beach.  Imagine only 1 hour form Sam Jose with all it’s great amenities such as health care, shopping, dining and much more.  Imagine $39,000 only.
This is one of those investment opportunities whereby you can come prepared to buy because this is a truly exceptional value.  SEE IT HERE

Costa Rica Retirement Vacation Properties has the good fortune to be privy to some very good value properties.

Consider using a self directed IRA on this one and forget you have it for 4 or 5 years, IMAGINE

Our Lifestyle Real Estate Tours are very comprehensive.

For information on this property:
Steve Martinez : Cell: (506) 8827 9258
Location: San Jose office
Position: Marketing associate
Telephones: (506) 2293 2446 – Toll Free: 1 888 581 1786
Email: steve@costaricaretirementvacationproperties.com

Buying Ocean front Condos is the dream of many. Vacation homes in Jaco beach have been very expensive by our standards (not by California  or Florida) in the recent past.
A vacation home often provides a good way to defray costs of owning through the rental pool programs.  Caution – Not all projects have great Rental Pool Programs. Also, maintenance can be very high.

When choosing a Vacation home one has to pay particular attention to the maintenance and the rental pool that is being offered.  Costa Rica has experienced it’s first drop in prices in 20 years and some deals are appearing, but you must heed the foregoing.  Here is an example of a very good product at a great price, good developer and one of the best rental pools.

It has what we as professional Realtors  deem amenities that match up with the price.   It is located in the center of Jaco Beach, central Pacific and is now 45 minutes from the Capital with all the amenities and world class health care.     This is the latest luxury ocean front development to be completed in Jacó Beach. Located in the heart of town, you can easily walk to countless restaurants, markets and shops.  Suite 302 in the North tower is situated on the 3rd floor as close to the sand as you can get. Two bedrooms and 2 and a half bathrooms feel spacious in this 1,615 square foot condominium appointed with porcelain floors, granite counter tops and all furnishings down to the silverware.  Eventually an on-site commercial center will host restaurants, a day-spa, fitness center, and more. 70% financing is offered.  We include this project on our comprehensive Real Estate Tours.

Carol Odonnell:
Location:Hermosa/Jaco beach
Position: Marketing Director Central Pacific
Telephones: Office (506) 8318 0717
Toll Free: 1 (866) 374 -8522  or  1 888 581 1786
Email: carol@costaricaretirementvacationproperties.com

True Community Living,  A Golf Resort reaching out to its local community.

When I read articles about new developments in Costa Rica that have done horrible damages to the environment as well as destruction to the local community, it makes me proud that the first Golf Resort in South West Costa Rica has gone to great lengths not only to protect the environment, but to improve the local community. The San Buenas Golf Resort has a vision to significantly invest into the people and infrastructure of the pueblo of San Buenadventura, it´s new neighbor. There are 4 main projects.

-Escuela San Marcos This school is a completely new 2 room educational facility for 28 local students in kindergarten through 8th grade. Materials were donated by community members. All labor and construction was completed by the staff of SBGR. This includes an upgraded electric system, improved drainage, and an edible fruit and medicinal plant garden.

-Recycling Programs Located in the new Escuela San Marcos, and focused on educating the students on the importance of recycling, the project receives plastic, glass and aluminum from 90 local businesses. The SBGR employees use company trucks bi-weekly for pick up, recycling more than any other project in the Southern Zone. A pilot program for the Canton of Osa is being formed.

-Local Hiring Practices SBGR employees 20 men and women in various capacities, but would like to hire every willing person in San Buenaventura. In order for them to excel, every new staff member is provided with training and educational materials. Remember the old saying “Give a man a fish….”

-River Rehabilitation Project To minimize local flooding and erosion the river banks are being lowered and routed to access parts of the Golf Course, creating a natural floodplain on site, not in the town. Additional reforestation will provide stability and not affect playability.

-Road Improvements SBGR will be providing laborers and equipment on a regular basis as part of the community plan dedicated to improve the road conditions. Plans are to improve 5 kilometers of the Coastal Highway to a standard 14 meters wide, improving safety and access.

As time goes by, SBGR will create and join many other community efforts. It is commendable that while so many other developments concern themselves with maximum profit, they put the community and minimal environmental impact first.

Annie Drake, marketing manager, south Pacific
Costa Rica Retirement Vacation Properties

Not Par for the Course, Golf for the Ecologically minded Golfer

The new, exciting news in the South Pacific region of Costa Rica is the SAN BUENAS GOLF RESORT, the first one in our area. Not only are locals thrilled about the project and the new possibilities that it offers, but we are proud of the ecological, environmental way it has been developed.

This 18 hole course is dedicated to the preservation and conservation of the land upholding the highest standards to cause minimal environmental impact. The 332 acres was originally a pasture that had been deforested for the cattle. Great efforts were made to leave the 220 original trees in tact, thus influencing the design of the course. Traditional tractor work which can cause damage was replaced working with the natural existing features. The local sand and gravel provided the perfect drainage.

The SBGC did not only stop at preservation, but actually made more of a positive impact through reforestation. Through the advice of forest engineer, they are adding 15,000 more trees, including a wide variety of fruit trees and over 80 varieties of indigenous trees. This ongoing project is supported by 2 on site nurseries with plans to build a larger 3rd nursery. This former pasture will one day be a migration corridor for native wildlife, while in the meantime providing shade for residents, golfers and employees.

The Paspalum grass, native to Australia is also an ecological benefit. It can be irrigated, live and thrive off salt water, thus diminishing weed growth. It has minimal, low toxicity fertilizer requirements and tolerates wet conditions well, but has minimal dew collection thus facilitating faster drainage. Playability will not be affected by rains.

An Earth University graduate advises SBGR on greenhouse management, seedling propagation, pesticide, herbicide and fertilizer production from organic materials. They are creating natural pest control systems. Some of these methods predate the use of modern chemicals. It is more common to see birds than bugs there.

As far as water goes, the importance of responsible and sustainable water management is a priority. The project is located on 3 high flow springs that produces enough water to sustain the community and future growth, leaving a surplus to tie into the local water system. The mini waste water treatment plants are aerobic verses the normal anaerobic septic systems, creating a cleaner process. Natural Bio-filters like shrimp, fish and crayfish will be seed the projects wetlands resulting in water that is perfect for irrigation. Only recycled gray water, rain and small springs will be used for irrigation, no potable water.

In future entries, the luxury amenities of this Ecological Haven will be described. The clubhouse, golf academy, hotel, villas, condominiums and view lots are inviting, but it is nice to know that something of this magnitude could be created with such low impact on the environment.

For a tour of this great property, call me, Annie Drake  at 1 888 581 1786 or drop me a line
annie@costaricaretirementvacationproperties.com