You are sitting on your couch, surfing the net for international real estate opportunities asking your significant other if now is a good time to buy a property in Costa Rica. I know, you’ve been thinking about this for a few years andhave even been here a couple times locating the right community to make such a decision. You’ve even put your toes in the Costa Rican ocean with a sigh of joy and know that one day you will take that step….
Here we are, right in the cross hairs of the 9-12 month economic lag from the USA. I bet you were hesitant to buy that homeup there last year with the 3.5%, 30-year mortgage rates that existed then.Heck, home prices in the USA were the lowest in years nine months ago and the affordability index was the highest in almost 60 years! Real estate was cheap – and hated. So what gives? Why are you not making the decision to buy yourself a wonderful property here, now?
(Let me remind you of a few things: Costa Rica, regardless of the global financial uncertainties, will always remain a stunningly beautiful place on earth.A country with only 4.5 million people and still considered the “Switzerland of the Americas”, and still no military… she is just perfect for you, now.Costa Rica property supply levels are still very high, thus prices are still relatively low. We are a secondary market (one where it takes 3 – 10 hours to reach – not too far, yet international in flavor) so absorption rates are naturally longer. The volume and velocity of sales simply takes longer in our market due to our market characteristics)
Back to the 9-12 Month Lag -we are now witnessing our very own selling craze in Costa Rica, which is attributed to when the markets in the USA began their surge. Believe it not, nine months ago (ok twelve months ago) a buying frenzy began in the USA like never seen before, yet you were probably on the fence to buy waiting for some confirmation.Now it is hitting Costa Rica. We are at the beginning of what might be a long-term trend here as our prices are still low and supply remains high.It is a perfect situation for you sitting on your couch (and on the fence) deliberating when to make your purchase here. Maybe I can help make this easier for you.The statistics are there for you to read yourselves, rather than listening to me. I would, however, like to end by saying “I told you so”. If I was not to write this article for you, now, you will miss the best buying opportunity in many years in Costa Rica. The 9-12 month lag is hitting now. The time to be a buyer is right now.