General Overview of Costa Rica Property and Investments

Discussion in 'Caribbean Real Estate' started by GringoBob, Apr 26, 2007.

  1. GringoBob

    GringoBob New Member

    Costa Rica is located in the southern portion of Central America and is bordered with Nicaragua on the north, Panama on the south - CR is an emerging democratic republic and has no military so is considered as a 'peaceful' neighbor by all other CentroAmerica states -

    CR has the highest GNP of the region and is considered very stable in the economic community in spite of recurring double digit devaluation of their 'colones' currency - currently at 518 to a $ dollar -

    Physically, Costa Rica is oft compared in size to West Virginia or Kentucky and has many many sub-climates within it's overall tropical climate - the utility infrastructure of Costa Rica is the privatized outgrowth of former state monopoly systems and the infrastructure is lagging behind development in the rapid expansion areas as of this date - we see a 5 to 7 year catch-up beginning to take shape but are not sure how rate increases will be dealt with to accommodate required expansion of services ?

    property and property investment in Costa Rica can be categorized into 9 specific zones or geographic areas, each with it's own plus and minus score and level of popularity or activity - we will overview those 9 zones but can not adequately describe exact detail in this available space .....

    zone 1 - southern pacific coast = this is the west or pacific coast area next to Panama which is most identified by Golfito and the bay of Dulce - probably the least expensive usable land in Costa Rica but also the area most lacking support and infrastructure at this moment in time - lots of talk and some activity with new harbor and promise of future International airport which would be third in CR

    zone 2 - central pacific coast = Manuel Antonio and Quepos area up to Jaco and the beach areas - long standing tourist get-a-way area and lots of new construction activity in zone but infrastructure is lagging and water or electric problems are becoming more frequent

    zone 3 - north pacific coast = coastal beaches and areas of the Nicoya Peninsula and north CR - booming area - especially the Coco, Tamarinda and Flamingo areas which are now in site development with major international projects - at this moment in time, this is the most expensive area for speculation and the most desirable area for long term investments

    zone 4 - south central interior = hot - barren - underdeveloped and underserved - very large ranches or farms and very few services - ever been to Salina Kansas ? you could spend a week there one night in Buenos Aires CR

    zone 5 - central valley = the historical retirement center of CR which includes the Capital City San Jose and the country's largest second cities of Alajuela, Heredia, Cartago, Grecia, Naranjo, Palmares, San Ramon and Atenas - this is where everyone bought for nothing 30 years ago and now want $70 per square meter to allow you in - seems as though there are more Canadians leaving the area than coming in and we don't quite understand that ? - climate for central valley is wonderful with warm days and cool nights and that is why it has been so popular as a retirement area - still a few spots to buy and build but be very cautious and curious

    zone 6 - north central valley = the area north and a bit east of the central valley and on the Atlantic side or the divide - this is where we live, work and play - we have more rain than the central valley but we have a more even distribution of temperature so on an individual basis that was our trade-off for our retirement villa - in this region, we can still find property for less that $1.00 per square meter or $0.10 per square foot and take our time as the baby boomers figure it out - we do not have or need heaters or air conditioners in this little corner of paridise

    zone 7 - Guanacaste = the northwest open plains of Costa Rica where it is hot and dry for half the year and hot and rainy for half the year - the later being the 'green season' as we refer to it and that always corresponds with tourist activity - this region is where there is currently a 'feeding frenzy' of speculative flipping of properties and probably more scams than we are aware of, or even want to be aware of - this is definitely the 'hot zone' of Costa Rica as I write this in April 2007.

    zone 8 - south Caribbean Coast = very tranquil and laid back areas of the east coast areas of Costa Rica which are just above Panama - people still build houses with no windows over there and crime is not so prevalent but you know that will change as time moves on - services seem to be adequate for sustained growth and political mentality seems to encourage just that - sustained growth in small increments - few large scale overnight developments outside the port city of Limon

    zone 9 - north Caribbean Coast = this is not accessible by car so you must boat or airplane in and find very large nature preserves with swamp protection perimeters - very popular eco areas where the giant sea turtles birth their young at the Nicaragua border area of Tortuguero National Park and Reserve Area

    and so, with this horribly oversimplified zone view of Costa Rica, we invite you to come and see where we live in peace and harmony with our 'tico' neighbors on pensionado income and with taxes that are less than $100 per year - there is something for people like us here as well as people who wish to actively participate in investments strategy and flipping dealers ...

    there are some maps and links on our webpages and I will be pleased to answer your questions to the best of my ability -

  2. GringoBob

    GringoBob New Member

    I am very pleased your good member TH4S recommended this site to me -

    my stats counter indicates you have about 80,000 visits a month - is that a fairly accurate count ?
  3. TH4S

    TH4S New Member

    We meet again,Welcome,;)
  4. GringoBob

    GringoBob New Member

    we sure do Tommy , and I thank you again for this recommendation :cool:
  5. GringoBob

    GringoBob New Member

    it is actually a 'beta' unit developed by a friend - that is why we wanted to compare the accuracy to your own in-house stats - as you know, most external units are terribly inaccurate so we just playng a bit - muchas gracias :cool:
  6. Dia Soleado Invest

    Dia Soleado Invest New Member

    Thanks for this very insightful crash course on Costa Rica. If there are any developers out there who have anything going on in the North Pacific Coast (zone 3) we would love to hear from you.
  7. timmy

    timmy New Member

    Wow it seems I should leave my focus from Spain and move it over to Costa Rica, thanks for the crash course!
  8. winnergirl68

    winnergirl68 New Member

    Looking for land in The Bahamas

    My husband and I are looking for land in the Cays of Abaco in the Bahamas. We are also interested in Costa Rica, though we have less experience in that are (we lived previously in The Bahamas for two years).
  9. Adrian B

    Adrian B New Member

    I can help you and advise you in anything you need in Costa Rica related to investment, real estate property and land development.

    Please feel free to contact me. (506) 205-3957, my name is Adrián Bejarano R.
  10. Crashklein

    Crashklein New Member

    Hi There winnergirl68,
    Is it possible for Americans to purchase land in the out Islands of the Bahamas? I fell in love with Norman Cay many years ago. There was a sunken airplane near by rumored to be once full of drugs.
  11. winnergirl68

    winnergirl68 New Member

    Out Islands

    Yes, Norman Cay is one of the island cocaine runners in the late 70s and early 80s used to traffic from Columbia through the Bahamas into the US. But, yes, Americans can buy land fairly easily in what the Bahamians refer to as the 'family islands'... or 'out islands.'

  12. Crashklein

    Crashklein New Member

    What are the prices like in that area for beach front property and how much with a home on the property?
  13. Crashklein

    Crashklein New Member


    Hi Bob,

    Can you tell me how I can find demographics for the town of Guapiles? I would like to know who is buying land there. I would like to know if they are Ticos buying a 2nd home,Workers, retires or foreigners? I hear that land is selling quickly at $6-$10 per square meter.

    Thanks for your help,

  14. GringoBob

    GringoBob New Member

    good morning Steve -

    don't know of any reliable demographics for Guapiles but do know the activities there are about 70% gringo (front end of the boomers) and 30% tico weekend get-a-way places

    Guapiles is a nice conservative area with decent weather and clean air - good place to relax
  15. Crashklein

    Crashklein New Member

    That is very helpful Bob. Do you know how I might get info on what companies are interested in coming to Guapiles?
  16. jvizman

    jvizman New Member

    demagraphics for what purpose? developing?
  17. GringoBob

    GringoBob New Member

    we lived in La Herradura Spain (50km east of Malaga) for a few years before deciding to retire and build in Costa Rica - Spain was very cold seasonal and very expensive to the degree of exceeding US cost-of-living
  18. Crashklein

    Crashklein New Member

    Is the cost of living going up in CR? Or are development costs going up because of the devalued US dollar?
  19. jvizman

    jvizman New Member

    both!! the dollar is down and oil is through the roof! it has to send the prices of everything here up!
  20. misch.chief

    misch.chief New Member

    what's the deal with costa rica at the moment - is it the place to be at the moment, like Cape Verde was a couple of years ago?

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