Costa Rica Condominium Construction – 1,173 Authorized in 2005

Condominium construction quintuples number of urbanizations with security concerns causing increased demand.

The construction of condominiums was almost five times more than the construction of housing developments in 2005 according to the National Institute of Housing and Urban Development (INVU).

INVU approved the plans of 1,173 condominiums, while there were only 246 housing developments, including public housing.

This seems to prove that construction businesses would rather build condominiums; either vertical (buildings) or horizontal.

Security appears to be the main reason for this kind of structure. Condominiums have guards and restricted access.

Escazu, Santa Ana, San Jose and Santo Domingo (Heredia) are the most popular for new condominiums and the condos being built on the beaches are primarily for foreigners.

Expensive: One of the biggest problems with condominiums is their price, making them accessible to people in the upper-middle and upper classes only.

The price ranges from US$70K (¢35 million) to US$500K (¢250,5 million), which are those that have pools and tennis courts.
The principle clients are foreigners.

Many Costa Ricans cannot afford them but also have incomes too high to qualify for a national loan. On the other hand, since many condos in Costa Rica sell for US$50K many developers insist that condos can be bought by middle-class citizens.

Costa Rica Condo Pluses

Security: Condominium owners pay together for the security, and access is limited.

Green areas: Generally condos have green areas with gardens and daily maintenance and some have swimming pools.

Organization: Neighbors must form a board of directors that takes care of maintenance of green areas, payment for security and improvements to the building(s).

Parties: Residents can also give private parties in public green areas, but must respect hours and noise levels.

Customs: The most difficult part is learning to live in buildings [rather than private homes].

Our thanks to Jairo Villegas S. and our friends at La Nación – Costa Rica’s largest Spanish circulation newspaper for their permission use this article.

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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.