Costa Rica is Still the New Flavor of the Day for Resort Developers

I have done some research since my first visit to Costa Rica, and let me tell you that several reasons are coming together in order to keep things the way they are for this Central American jewel.

 

It is no secret that Costa Rica has the hottest real estate market in Latin America today; and when you do look for opinions from well known experts you will come across statements like:

“I think the story of the year in Central America is Costa Rica. Talk is cheap, but finally we are seeing tangible results.”

Those were the comments from Scott Berman (A principal at PricewaterhouseCoopers) a couple of years ago, and from what I’ve seen as a reident of this country for over a decade, more and bigger results are showing up year after year. Scott’s actual words when asked to name the hottest real estate market in Latin America today were:

“From a resort perspective, clearly Costa Rica,”

I am not too big on quotes; however I will include one more, this one is from the Managing director of the Latin America operations for Jones Lang LaSalle, Shannon Robertson.

“Costa Rica is the…flavor of the day, there are some real problems infrastructure-wise, but because of the brand name among Americans, it’s got a lot of momentum.”

Time has gone by and several of the infrastructure problems that were present in the past are been systematically dealt with by the Costa Rican government; that has deemed wise to move quickly in order to provide a much more attractive panorama for current and future projects in the Guanacaste Area.

As we continue to move forward in the year, the presence of new projects such as the ones from the Intercontinental, and Hilton franchises, are definitely giving another boost to the “face lift” initiative from the local government, making things get better a lot faster than the usual time.