It’s been interesting to see how property market has risen out of the crash, very much like a Phoenix out of the ashes.
In particular, Costa Rica property is hitting the headlines with more frequency as investors seek out the ‘safest,’ locations to acquire assets.
Doom and Gloom in Europe – Yet the Sun is Shining in Costa Rica
As the European economy continues to balance precariously, currency fluctuations and poor saving interest rates have left many investors looking to acquire property in this Central Pacific country.
So what went wrong? When the real estate industry was at its peak, so much cash was generated from property, in retrospect, it’s fair to say that people got carried away.
It’s hard to believe that many investors bought property abroad without even seeing it, banking on online deals and nothing more than design concepts. With the convincing smooth tones of a cowboy real estate agent many unwise investors signed on the dotted line and we still hear about their horror stories today.
Cautious Investor’s & Intelligent Decision Making
Fast forward to today and it’s a very different reality. Investors are more cautious and buying tendencies have changed. With more intelligent decision making, savvy investors are doing more research and putting returns on the back burner in return for a safe opportunity.
As a consequence, the foreign property industry has changed. Where investors were looking for quick returns in unsecure markets they now seek out emerging markets that offer security.
Costa Rica Leads the Overseas Property Recovery
Costa Rica was one of the first foreign property markets to experience an increase in sales after the remnants of the economic crisis where laid bare.
When people started to do their research, they soon found that the South Pacific of Costa Rica was one of the leading top real estate markets for 2012. Don’t just take my word for it! International Living Magazine created a Global Real Estate Index that placed the South Pacific of Costa Rica in the top 3 of 27 prime investment locations around the world.
So which properties make a great investment? With million dollar views, Casa Colibri is a 2 bedroom 2.5 bathroom property that dreams are made of. It is currently on the market for a reduced price of $679,000. Positioned on a 2.90 Ha landscaped lot, surrounded by jungle and ocean views. This property is located in an area that is highly sought after and continual infrastructural improvements in the South Pacific will only add to this beautiful homes value.
It should be noted that as most property holds it value in places where only the wealthy can buy, where the affluent do not need to sell quickly when the going gets tough you’ll notice that there are no price drops and property holds it value. And get this, properties in these locations are the first to recover from the downturns and usually grow quicker during up cycles too.