Costa Rica is a very beautiful and diverse country. From Caribbean and Pacific beaches to mountains, plains and the Central Valley, there is something for everyone. But natural beauty is far from the only reason people invest in land here. Another reason is that property can still be found at reasonable prices, especially compared to most North American markets.
In fact, the troubles plaguing the US economy have turned Costa Rica into more of a buyer’s market as well. There are numerous unsold properties in existing developments, and a lot of the land on the market is sitting untouched as many smaller players – those who depend on mortgaging an existing property to come up with the capital for new purchases – are finding it harder and harder to do so.
This leaves the market wide open for the serious investor. Developers who are taking a realistic view of the market are dropping prices anywhere from 20 to 40 percent compared to the peak prices of three years ago, and offering other incentives to those with the capital to take advantage of the current situation.
The province of Guanacaste remains a hotbed of development, ever since the Daniel Oduber International Airport was built there five years ago, so a savvy investor might look for properties in other parts of the country, where prices have not climbed as much or as quickly.
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