Costa Rica Ranks in Top Five in World Real Estate Market

The grass may always seem greener on the other side, but when it comes to real estate, Costa Rica might just be the other side the rest of the world is looking at.

Last year, the U.S. Central Intelligence Agency World Fact Book ranked Costa Rica as one of five countries that stand head and shoulders above all other nations worldwide in terms of the potential their real estate markets present property investors.

The book also listed Costa Rica as a Central American success story, because the Costa Rican government has successfully established an economically and politically stable country in which more overseas investors are focusing their financial interests.

Industry professionals say Costa Rica is competing internationally as prime real estate and is in for a boom with overseas investors for approximately the next 10 to 15 years. The boom is already well under way, according to Les Nunez of First Realty Costa Rica Real Estate, based in the northwestern province of Guanacaste.

Without a doubt, its already happening, Nunez said. Within the world market for beachfront property, Costa Rica is still relatively inexpensive, according to Nunez. He says beachfront property on the southeast coast of Florida, in the United States, costs double and sometimes triple its Costa Rican equivalent, and that Costa Rican beach real estate is far less expensive than in other popular tropical destinations such as areas of Thailand.

Prices in tourist areas such as Phuket (Thailand) are far higher per square meter, Nunez said, adding that Asia in general is more expensive than Costa Rica.\r Costa Rica is also less expensive than many places in Europe, such as the Greek Isles, Spain and France, he added. Closer to home, however, Costa Rica remains the most expensive Central American nation for real estate, when it comes to properties such as those on the Pacific Coast, according to Nunez.

Costa Rica has been an attraction for foreigners since the 1980s; it has established clubs, support groups, things like the Little Theatre Group. All that is very attractive when you are moving to a new place, he said.

Nunez also says that time-zone comparability with the United States, with a difference of only an hour or two, helps draw a crowd. Call centers that need to ring the United States love it here, and the connections are good too, he noted.

http://www.firstrealtycr.com A Name you can trust in Costa Rica Real Estate

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