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Costa Rica Real Estate & the current economy

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By : Isham Collier    99 or more times read
Real Estate is BIG business down here in Costa Rica. The recent economic crisis the world is feeling, has not been as much of an issue here as elsewhere. The tourism markets have been hit pretty hard and although Real Estate sales have slowed down, land prices and property values, have remained very stable.

What this means is that if you have already invested in Costa Rica Real Estate, no worries, your investment is secure. If you are looking to get into the market here, than it is your lucky day, there are many deals to be made with foreigners, needing to liquidate, due to the crisis going on in their home countries. This creates an atmosphere of selling property well below the market value. If you are one of the few, unaffected by the global turmoil, now is a good time to buy. Most likely, the property you just bought has appreciated, instantly, from day one.

Condo sales have been hit by the global money crisis the most in Costa Rica. Before the financial markets crashed, condo development had been going through the roof. With less people buying right now it has driven some condo developers to desperate measures. This is good news for you, the consumer. Many condos at many price points are available. Try getting a condo on the beach in Florida for 150k or less. Not likely. Between Florida or Costa Rica, I'll take Costa Rica.

There can be a downside to trying to purchase Real Estate in Costa Rica. There are many scammers here, as can be found the world over. A common practice is for someone to sell the same piece of property, over and over, to as many people as possible, and bolt. Buyer Beware, if the deal really seems too good to be true, it's probably is. Use common sense. You may have also heard of squatters in Costa Rica. While it is true squatting has been a problem in the past, it should be noted that squatters only have rights on very specific types of land. They cannot move into your beach house while you're out of the country and claim it for themselves. Farm land, is the only land in Costa Rica, that squatters have a chance of causing you problems. In addition, tougher enforcement of existing laws have made it harder and harder for these folks to squat.

The bottom line is this, now is a great time to invest.
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