Construction of condominiums grew 130% last year
April 9th, 2013 (InsideCostaRica.com) The high cost of land, resource use, and security are just some of the reasons for the high growth in the number of square feet dedicated to the construction of condominiums between 2011 and 2012.
According to the Costa Rican Chamber of Construction, condo development grew by almost 130% in the last year, while single-family home construction grew just 5%.
During 2012, some 870,000 square meters of condominium construction occurred, while the year previous that number was 387,000, according to the chamber president, Gonzalo Delgado.
Delgado said most condominiums are targeted at upper middle class families, but there are plans for projects for lower-income families.
Delgado believes that condos will be “the way of life” in the near future.
Contrary to condominiums, the construction of hotels and offices showed negative growth during the same period.
ATTENTION: If you are seeing this message,
