Living in San Jose, Costa Rica – Photos of new luxury apartment buildings sprouting up around the Parque La Sabana

I spent some time with a couple of young, very creative real estate investors from Manhattan this week who are both ecstatically excited about the real estate investment opportunities presented to them here in San Jose, Costa Rica.

They believe in “location, location, location” and we had a drink or two in my new penthouse apartment and they both agreed that if they were to buy a similar apartment anywhere in Manhattan that it would cost – at a minimum – ten times as much. In a prime building in a prime area? More like fifteen times as much!

Luxury apartment buildings are sprouting up around Parque la Sabana and no! Prices around San Jose’s ‘Central Park’ have not declined, they have in fact
increased. I agreed to buy my new apartment in pre-construction at $2,100M2 in late 2007 and comparable apartments are now (January 2009) being sold in pre-construction for $2,800M2.

In buying so near San Jose’s slightly smaller equivalent of New York’s Central park (Parque La Sabana), where so many new luxury apartments are sprouting up, they feel as if they are investing around Central Park in Manhattan – fifty years ago …

You can easily buy a luxurious, park view apartment for about $500,000 which would cost you over US$5,000,000 in New York City

And you would pay a tiny fraction of what a New York City apartment owner would pay in property taxes and a fraction of what they would pay in maintenance fees.

And the weather is so perfect here, we never use heating and rarely use air conditioning … That alone saves thousands of dollars per year.

Both are avid surfers but neither of them wanted to choose one area on the coast to buy because they like surfing in different spots. So with easy direct flights from Newark to San Jose, they plan use their San Jose apartments as a base to travel to different beaches to enjoy the surfing.

Needless to say, the property taxes and monthly maintenance fees in Manhattan are also about ten times as much than they are in Costa Rica too so Jeff & Josh feel very pleased with their decision.

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Written by Scott Oliver, author of How To Buy Costa Rica Real Estate Without Losing Your Camisa and Costa Rica’s Guide To Making Money Offshore.

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.