As a result of over a decade of strong growth the local wealthy have grown the demand for high end products and service have surged.
Porches, Rolex watches, Gucci, luxury real estate, along with luxury hotels and resorts, have all seen tremendous growth over the past few years and experts expect the luxury market to only improve as more “super wealthy” see Costa Rica as a place to experience, relax and invest.
Signs of wealth can be seen everywhere. Private homes and condos have grown especially in the surrounding areas of the Central Valley. The number of luxury cars on the streets rose dramitally as well, 2011 saw a 15% increase in luxury cars sales over 2010.
Higher end brands such as such as Burberry, Lacoste and Cartier are continuing to arrive at San Jose’s shopping facilities as brands are continuously expanding their distribution into the emerging Latin American market.
It’s not just affluent foreigners that enjoying the luxury boom in Costa Rica but the local wealthy as well. From the mid-1980s to the present Costa Rica’s wealthiest segment has nearly doubled its wealth.
Latin Americas super wealthy, elites continue to grow; in 2010, Forbes list of the World’s Billionaires showed the first real surge of Latin American mega rich coming to the forefront with more than 30 Latin Americans making the list, with more arriving every year.
Luxury travel options and value are growing as well in Costa Rica with the ultra opulent resorts and hotels seeing record numbers of visitors. A growing luxury travel market is precursor to the growing interest in luxury real estate. (To see some of the drivers in Costa Rica’s luxury real estate market you can read Luxury Lifestyle is more Attainable than Ever in Costa Rica http://thecostaricanews.com/luxury-lifestyle-is-more-attainable-than-ever-in-costa-rica/13855)
Luxury real estate in Costa Rica is distinguished by the creative talent of local, worldwide known architects. From the ultra chic contemporary designs to the pure colonial creations, the unique style and high quality of Costa Rican architecture can be seen in the large number of ultra opulent estates that continue to spring up to satisfy the growing number of super wealthy locals and internationals arriving on our shores.
The Costa Rica News (TCRN)
San Jose Costa Rica