Costa Rica Real Estate – Pre-Construction Windfalls

In my opinion, the Guanacaste area is the most active real estate market in Costa Rica and we believe it will remain very active for at least another 3-5 years.

One of the reasons this will continue is related to additional flights on existing routes that are coming into the Liberia airport in our region, as well as some significant new routes that are opening up in the last quarter of 2005 and the first quarter of 2006.

Additionally, a massive amount of money, literally hundreds of millions of dollars is being invested in the area by large scale investors and developers.

The baby boomer market coming to Costa Rica is just getting bigger and bigger as time goes by.

Supply and demand are definitely out of whack and to be frank, most professional real estate agents are struggling to isolate enough quality “product” to sell to this growing market.

As a result, the selling of spec homes and pre-constructed condominiums is one
of the more active markets as buyers want to get into something – ‘anything.’

Many of the buyers of either the spec homes or pre-constructed condominiums are
seeing appreciations of at least 25% by the time the home or condo is completed
which generally take about a year. Payments are typically related to levels of construction completed.

Some buyers are selling their contract for the home or condo they are purchasing
before it is completed and before they have even fully paid for it. Why are they doing this? Well it is because they are realizing net profits of over 25%.

As my good ole granddad used to say; “That’ll keep ya in bread in peanut
butter.”

Written by: Scott MacDougall who has lived in Costa Rica for more than ten years and has been intimately involved in real estate construction and land development during this time.

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Andrew Makarik

to@welovecostarica.com

Andrew Makarik is the main editor of WeLoveCostaRica, a fan of this sunny country. He is also a loving husband and a has a lovely daughter. By being a devoted family man and the biggest Costa Rica fan, he wants to make more people feel at home there. WeLoveCostaRica unites people and helps them find new home or a new travel destination. This website is a friendly community where everyone can find not only information, but also new friends and travel pals. Andrew is also passionate about IT and programming, so he himself maintains a friendly atmosphere in this cozy environment of WeLoveCostaRica.com.