Costa Rica: A good long-term property investment prospect

Costa Rica has been marked out as a country which may potentially yield good long term results for property investors.

The Costa Rican property market is currently looking very bleak. Many overseas property buyers in the past have chosen Costa Rica as a country to have their holiday homes in. However this market has all but vanished and many high-profile residential developments aimed at property investors have had work on them stopped.

The lack of buyers in the market has helped prices to tumble throughout the country. Indeed many of those who own second homes in the country are now trying to rent their properties out to tourists in the hope of gaining some income from their holiday homes.

Experts believe that the rate of development was partially to blame for the Costa Rica housing market problems. A few years ago, housing developments and associated buildings such as golf courses were springing up all over the place and the rate of growth was unsustainable.

The fall in prices means that there are some bargain property and real estate deals to be had in Costa Rica. Many developers are now keen to sell and canny property buyers should be able to negotiate up to a third off property prices.

Real estate is one area buying foreign propertys should also aim to look at. Land with teak growing on it is especially tipped as the teak can be sold and therefore provides a good return on investment. If you pick the right plot of land, when prices start to rise again, property investors should see a good return on investment as people return to thinking about buying and building second homes in Costa Rica.

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  1. From Posts about overseas property,property abroad as of May 19, 2009 | overseas property buyers lounge | May 19, 2009

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