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luxe
Friday, January 29th, 2016  |  USD: Buy 531.29 / Sell 543.92
20 years

Costa Rica housing starts fall 15 percent

house under construction

(ICR Archive)

January 19th, 2016 (ICR News) Costa Rica’s Central Bank reports that housing starts fell 15 percent in the last quarter of 2015 compared to the same period a year earlier, led by a decline in housing targeting the middle-class.

 

For its part, the non-residential sector rose by 18 percent during the same period.

 

Meanwhile, social housing projects – those subsidized or paid for by the government to provide housing to the poor – saw a record increase during the same period.

 

Experts suggest that high interest rates – even during a time of negative inflation –along with stagnant personal incomes and an over-saturated market of existing homes are responsible for the decline.

 

costa rica news

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  • prdatki

    Who, is buying or renting the high dollar apartments in San Jose,That are being built all over the city?

  • Banana Republican

    Colombians

  • FSinibaldi

    El vivo canto.

    En la parte
    superior de la
    montaña siento
    una sombra
    y el candil
    candoroso que
    recuerda silente
    el brillante
    sabor.

    Francesco Sinibaldi

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