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My wife and I have always loved the city life being close to everything with good choices of stores, restaurants, theaters and movies so even though we know San Jose is not an attractive city at the moment we feel that it is turning a corner.
We have been traveling here for over ten tears and now see there are good things happening in San Jose and some seriously large upscale real estate projects planned for the city.
Here’s my question: Assuming San Jose is going to improve in the future, as a real estate investor where would you buy real estate in San Jose now to try and make a good investment?
Like most major cosmopolitan cities (London, New York etc) the ‘exclusive’ city areas tend to be near parks and I would suggest that if one were to invest in San Jose., the best place would be to the west of the city near Parque La Sabana or one of the other quieter little parks.
I have personally made an investment in this area in a top of the line luxury building due to be finished in August 2008 so have looked into traffic pattern etc.., very seriously myself. Whether it proves to be a profitable investment – and for San Jose this was a high-priced apartment at US$2,050M2 – remains to be seen.
My somewhat contrarian logic is simple: Although many people have been moving out of the city, the vast majority of businesses remain in the GMA – the Greater Metropolitan Area and of course, the best legal, medical professionals remain here as well as government. These people continue to work here no matter where they live.
Within five years, with the staggering growth that we have seen, Escazu, Santa Ana and Ciudad Colon will eventually just become part of expanding ‘city’ of San Jose. So if I am going to live in what will be a decent sized city then, I would prefer to live in the actual city itself rather than be a ‘commuter.’
Lastly, as you will have seen from our article on global real estate prices at [ https://www.welovecostarica.com/members/1537.cfm ] even though this is an expensive apartment I am buying at $2,050M2 – a comparable apartment in London would cost TEN TIMES more and in New York SEVEN TIMES MORE. It would cost a lot more even in Bangkok, Thailand, Shanghai, China and twice as much in Warsaw, Poland, three times as much in Madrid, Spain.
Scott Oliver – Founder
WeLoveCostaRica.com
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