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COSTA RICA |
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Costa Rica Real Estate Market Conditions
(Update)
Costa Rica Real Estate Market Conditions And
Expectations For The Future
Throughout the past decade we have seen
market conditions go from a "sellers market"
to "buyers market", which is where we are
today. It's not uncommon today to see
properties that once had high price tags,
going for 30-50% less than appraised value.
Like most other markets, the Costa Rica real
estate market is deeply rooted within the US
economy. And when these markets are in a
recession, it affects all other markets that
depend on the US consumer. For this reason,
BuyingCR (http://www.buyingcr.com) chose
early on, to target different markets
outside of the USA like Asia, Russia, Canada
and others. For these countries seem to have
recovered strongly from the economic
collapse of the past few years and making
them obvious marketing targets.
We see them daily. By the dozen actually.
Press releases saying that the Costa Rica
real estate market is booming and property
in Costa RIca is being shifted left, right
and centre. Well in case you hadn't put it
together yet, this is a load of bollocks.
All agencies throughout Costa Rica are
experiencing the current economic situation
and anyone telling you otherwise, is telling
you only what you want to hear rather than
the raw goods of what's really happening.
Now we're not saying it's been like this
forever. Not at all. However over the past
year, the Costa Rica real estate market has
been getting progressively slower.
So what does all this mean? Well essentially
this creates a "buyers market" when the
seller is pressed to move his/her property
in order to cover other commitments. This
produces a market full of motivated sellers.
So right now, what we have is a flood of
listings, many priced at below appraised
value, who are all bidding for the buyers.
This is what's called a "buyers" market. And
this is what we currently have here in Costa
Rica.
This means that what we have is a catch 22.
We've got tremendous value on Costa Rica
property, however we are struggling to find
qualified buyers.
Costa Rica Real Estate
BuyingCR- http://www.buyingcr.com |
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