High European Real Estate Prices Means More Europeans Retiring to Costa Rica.

Although most of our VIP Members are from the USA, recently a British couple who had been working in the USA for many years visited Costa Rica to check it out as a possible retirement home.

They did actually make an offer on a gorgeous new home in Trejos Montealegre for US$295,000 but at the last moment decided to go back to the UK.

We had discussed how times have changed and that real estate prices in the UK were now stratospheric. But you see, very few people in North American are familiar with the prices of real estate in Europe and for comparisons, they tend to use their local markets, the places where they live.

But if you understand how expensive real estate is in Europe, you will appreciate why more and more Europeans are buying Costa Rica real estate.

In the most recent May 2006 edition of Property Investor News in the UK they talked of a “developer’s price guide” for different areas of the UK – 220 British pounds per square foot in Glasgow, GBP380 in London and GBP120 for a “conventional block of residential apartments.”

According to Property Investor News, as of June 2006, the national average in the UK for land only is 1.5 million British pounds per acre which is equivalent to US$2,763,150 per acre or about US$63.43 per square foot – Just for the land!

So if we were to compare this incredibly well equipped 3,200 square foot new luxury home in Costa Rica, fifteen minutes from ‘everything’ with the prices of a “conventional” apartment in the UK, the cost would be 384,000 British pounds or US$707,366

It is not just North Americans that are retiring in Costa Rica and buying real estate, it’s Brits, Italians, Germans, Swedes, Dutch and people from every Central and Latin American country too.

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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.