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

Fire sale: Banco Popular lists 200 properties at up to 60 percent off, up to 100 percent financing

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(Archive image for illustrative purposes only)

(Archive image for illustrative purposes only)

January 14th, 2016 (ICR News) Costa Rica’s Banco Popular announced on Thursday the listing of 195 bank-owned properties at prices up to 60 percent off from their appraised value.

 

The properties include residential properties, farms and lots, and commercial properties and will be available until January 29th, the bank said in a media release.

 

The bank is also offering financing of up to 100 percent of the purchase price, with fixed interest in colones at 8 percent for 10 years or the Prime Rate (currently 3.5 percent) plus 3 points for those wishing to finance in dollars.

 

The properties can be viewed by clicking here.

 

Editor’s note: The site linked above has been loading very slowly Thursday morning, likely due to a high volume of traffic.  If the page does not load, please try again shortly.

 

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  • richard schlinder

    None of these farm properties show number of hectors.

  • Ken Morris

    Not important, but as a curiosity I counted only 31 houses out of 195 properties at an average discount price of around $75,000. Seems like most of those who went under owned lots (though a smattering of fincas and office buildings too) while the homeowners were not poor, on the average for Costa Rica. Just an index of the overall economy. Lot owners going belly up makes sense,. I would imagine that people buy these with big dreams only to run out of money and say forget it. The houses are more interesting. Probably some are deaths in the family and so forth, but on the average we don’t seem to be looking at poor, unemployed Ticos. We seem to be looking at upper-middle class Ticos walking away from houses that required an income in the neigborhood of four times the national average to buy.

  • Brian Carr

    Richard, why would you want to know about such insignificant details as how many hectares are included? Remember , here , generally speaking details are not important. Clear concise communication is rare, period. Actually, you know this as you’ve been here for sometime. Smile, laugh, accept, and move on, as this is this problem is part of the norm here !

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