Real Estate Development in Heredia Is Booming – Main factor is high level of education

Just ten years after Spanish colonists established the first settlement in the Valley of Cartago, colonization spread to other areas in the Central Valley. Among the first of these was the village of Barva, less than three kilometers north of what is now the city of Heredia.

The colonists first began building churches so that the populace could comply with its religious obligations and ceremonies, such as weddings, baptisms, and funerals. This was communities’ most important development priority during colonial times.

In 1706, the first parish church in this region was erected in Lagunilla, near the village of El Barreal, only to be moved several kilometers to the north in 1717, to the site that would become the city of Heredia.

Houses in outlying areas were sometimes burned to help “motivate” their occupants to move closer to the center of the developing town; the Spanish had great vision in the old days.

Variously known throughout the colonial period as Villa Vieja or Cubujuquí, Heredia is named for the man, Don Gonzalo Fernández de Heredia, who managed to obtain the title of “villa” for the newly formed settlement. The church in the center of Heredia is now one of the oldest in Costa Rica, dating back to 1797.

With the introduction of coffee to Costa Rica, plantations soon populated the fertile southern slopes of Barva Volcano. The steep and very rainy northern slope did not become populated until much more recently.

Recent Developments in Heredia:

While in days past religion was the motivating force behind development, nowadays Heredia is booming due to very different factors. Still, geographic position is important. Heredia has great access to highways to San José, the airport, and the Caribbean coast.

Heredia is also home to many high-tech companies and warehouses. But what makes Heredia most competitive is its human capital, a very young population with the highest level of education in the country.

Every trimester a big employment fair is organized by leading companies to attract highly educated employees with English-language skills. Global demand for educated people is high, which is why big companies like Hewlett Packard choose Heredia for their offices and factories.

It doesn’t stop there. This growing working population needs homes. Dozens of residential condominiums are being and have been built to fulfill demand. These are great times for developers!

Typical Middle-Class Costa Rica Condominiums

When there is a growing working population with increasing economic wealth, the construction of malls, hospitals, etc. soon follows. First came the Cariari mall. Two years ago, Paseo de las Flores opened its doors, and its shops are now doing big business.

The newest addition is still under construction: Heredia’s first oficentro, called Bratsi, with more than 355,209 sq. ft. (33,000 m2) of office space. The fact that already 30% of the space has been sold is an indication of the high demand and the speed of development.

What’s Next For Heredia?

Much more of the same: more condos, more business, more universities, more shops, etc. What’s new? A growing upper-middle class–that is, a population that typically moves out of the city into the hills. The hills of Heredia offer great investment opportunities, and rapidly rising prices can be expected. Here’s notice to all buyers looking for residential property: find your piece now!

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Written by Costa Rica Realtor Bart ten Kate.

If you would like to email Bart Ten Kate, our preferred Costa Rica Realtor in Heredia for more information about living in Heredia, please help us to help you by using simple form below:

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.