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During the first quarter of 2013, Costa Rica had a total of $866 million dollars of Foreign Direct Investment (FDI), which represents a growth of 41% compared to the same period in 2012.
Costa Rica’s real estate sector received $377 million dollars of FDI in the first quarter of 2013, which are the highest recorded real estate sales in a single quarter since 2000.
The $377 million dollars invested in real estate during the first quarter of 2013 represents 90% of total sales recorded for the entire year in 2012.
FDI is an investment made in the country by persons, whether natural born or legal residents, who live outside of Costa Rica. To calculate it, the Central Bank recognizes investments of over $500,000 that have been recorded in the National Registry of Properties.
According to Costa Rica’s Central Bank, property sales on the Pacific Coast in the Province of Guanacaste were the most active in the first three months of the year. However, it did not provide a breakdown of the performance of the individual counties. According to the Costa Rican Chamber of Realtors, the areas around the Daniel Oduber International Airport in Liberia, Guanacaste attracted most of the new investments.
Additionally, in Costa Rica’s Central Valley, there was a 13% increase in commercial construction and a 9% increase in the manufacturing sector, compared to the first quarter of 2012.
Yeah thanks Tom but what’s your comment?
What is it you’d like to discuss about the FDI in Costa Rica?
What’s your question?
Copying and pasting a news item can be worthwhile but this is a Discussion Forum where we try to discuss things…
What is it specifically that you would like to discuss about this Tom?
I have been conducting construction and land inspections for foreigners in Costa Rica since 1992 and can tell you for a fact that now, more than ever, North Americans are bringing their money down here to invest. http://www.costaricahomebuilder.com/property_inspections_costa_rica.html
What leads you to that conclusion Tom?
What facts exactly have led you to that conclusion?
I ask because [u]NONE[/u] of the Recommended Realtors or developers we have featured on this site would agree with you … Not one!
Scott
This article in todays La Nacion provides details.
http://www.nacion.com/economia/Inmuebles-vuelven-mira-extranjeros_0_1352864732.htmlThere are nearly 40+ new construction projects in and around Nosara this year . Much more than we have seen in recent years. I would agree with your assessment.
There has been a big surge in hotel investment this year (which alone has to be at least $400 million) but increased institutional investment has very little to do with individual North Americans “bringing their money down here to invest” in Costa Rica real estate.
The search data below is from [url=http://www.google.com/trends/]Google Trends[/url] and I would suggest that this flies in the face of your statement that: “more than ever, North Americans are bringing their money down here to invest.”
Costa Rica Real Estate
[img]https://www.welovecostarica.com/members/images/CR_Real_Estate.jpg[/img]
______________________________Costa Rica Retirement
[img]https://www.welovecostarica.com/members/images/CRRetirement.jpg[/img]
______________________________What do the numbers on the graph mean?
The numbers on the graph reflect how many searches have been done for a particular term, relative to the total number of searches done on Google over time. They don’t represent absolute search volume numbers, because the data is normalized and presented on a scale from 0-100. Each point on the graph is divided by the highest point, or 100. When we don’t have enough data, 0 is shown.
I perform at least four construction inspections per month for North Americans who are purchasing homes here with cash. The trend from my small business perspective has been increasing buyers with cash during the last year. Certainly this does not account for a $377 million dollar surge in the 1st quarter of 2013. The data I shared on WLCR came from statistics that the Costa Rican Central Bank published in La Nacion. Perhaps there are differences in the official data provided by the Costa Rican National Registry, the Central Bank and Google Trends.
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