SOLD-Second Home Buyers and Investors Leaning More Towards Safety Offered By Costa Rica.

The latest numbers released by the E360 study of 612 potential second-home buyers illustrates that Costa Rica is well positioned to benefit from increasing interest in homes abroad.

• A staggering 45% of second home buyers are entering the market to search for new real estate.
• 51% of respondents are looking at international markets, with Mexico scoring highest.
• Of the 54% who indicated that now would NOT be a good time to buy, 79% stated that they would be likely to purchase in the next two years.
• Second home buyers are driven by “lifestyle and vacation attributes” – 46%; “investment purposes” – 41%; and “retirement” – 11%.
• These respondents are interested in the $200,000 to $400,000 price range, and 60% are not interested in receiving financing for the purchase.
• An overwhelming number are looking for a second home close to their primary homes or investments (within 1,000 miles).

The last bullet point naturally has put Mexico high on the list of international destinations. However, Mexico is a virtually failed state that has widespread violence, massive political corruption, and is engaged in a social turmoil with the United States. These are not features of a safe second-home investment.

• Water and mountain views are ranked #1 and #2 in this study. Some sections of Atenas offer both, while the entire Central Valley contains panoramic views, and two coastal areas are within a reasonable drive of the country’s main population center.
• Spa and medical facilities are gaining interest among respondents. Costa Rica’s medical tourism industry continues to blossom, with direct investment from state banks used to fund the conversion of hotels into medical and holistic retreats.
• The “lifestyle and vacation attributes” mentioned by respondents could not be more abundant in Costa Rica. Costa Rica continues year after year to score at the very top of quality of life and happiness polls. A significant portion of Costa Rica’s GDP comes from tourism, indicating a vacation-friendly atmosphere and service-oriented economy welcoming to foreigners. Furthermore, it is the most visited country in Central America, per capita, at more than double the rate of Mexico.
• The $200,000-$400,000 price range is optimal for Costa Rica real estate investing, and is great news for current homeowners in this price range who wish to sell. In Atenas, this is typically a 3-4 bedroom home, 2,500 sq. ft. plus, with pool and a view in a gated community – exactly where the average retiree is likely to purchase.
• Costa Rica is roughly the same flight time as Mexico from the Northeast, and one-hour flight past Mexico from the West, putting it well within the zone of interest according to this study.

The information provided by the E360 report offers an invaluable bullish look ahead to the future of a small, safe, and attractive country like Costa Rica.

Costa Rica’s easy access, diverse terrain, growing economy, and peaceful living should put it at the top of any second homebuyer’s list.

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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.