Thursday, July 22, 2010
Why 2011 is the Best time to Buy Real Estate in Costa Rica
I work mostly as a tour guide in Costa Rica and have been doing it for ten years. I have seen the country change quite a bit. Just two years ago I was watching young men my age become millionaires buying and flipping properties on the Pacific side of Costa Rica. There have been a few cases when clients from the tours have asked about real estate and have even returned to look for property in Costa Rica.
The area I know best when it comes to the central Pacific side is the area of Dominical. It happens to be my favorite, the most green, and where the mountain meets the sea. In July of 2010 I toured a couple around for a week looking at real estate working with some realtors and seeing a few peices I knew of. What we saw was very interesting.
There is a lot for sale some of which are sales of people that want out because of the USA economy crash last year. But with all these things for sale we are not seeing much things being sold. Which if you are looking for property in Costa Rica and really want the best deals then maybe the best deals are yet to come. If the economy does not fix itself in the next few months like some might have expected it to then there will be more people needing to get out, more things for sale, and lower prices.
If I had the capital to invest in some land in Costa Rica I would wait till 2011 and get in. I really feel there is so much land down here on the coast in the hands of foreigners that there will be many more that need out which will cause a huge supply and not much demand and leave a gap there for very low prices. There is also much land left in the central valley. Right now more and more coffee plantations in Costa Rica are being cut into because of the growing population. The central valley is becoming a popular area because some of the best hospitals in Costa Rica are located in the Central Valley.
Its funny how things work. Before it was the Costa Rican selling his piece of paradise to foreigners to get a few dollars that they would have never seen any other way. The Costa Rican new how to live humbley and some kept there humble lifestyles and others splurged on new trucks and fancy living (for a few months then it runs out). What we have now is American's that need out only because they might have never knew how to live humbly. This might be the only answer to the economic problems. What do you think the answer might be?
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