Costa Rica Real Estate Market Maintains Good Health

Offering and occupation of offices, industry, and commerce show good signs in recent years.

Costa Rica real estate sector of the Greater Metropolitan Area (GAM) – in offices, industrial and commercial works – maintains a healthy behavior, since the number of projects and the new inventory has grown in the last two years, as well as the level of occupation.

According to the first edition of the Real Estate Health State in Costa Rica, by Cushman & Wakefield / AB Advisory, in real estate, Costa Rica offers enormous appeal in different sectors of industry, as well as economic, social and economic factors. Environmental, and follow-up to global trends.

In 2016, 105 new projects were registered (in all three sub-markets) compared to 2014.
Only in new inventory, in 2016 entered 85,387 square meters (m²) more than in 2014.
On the other hand, the net absorption levels in those three years have increased continuously and the gross occupation remains stable.

Daniel Álvarez, the Managing Partner of Cushman & Wakefield / AB Advisory, commented that Foreign Direct Investment (FDI) income, economic and consumer behavior are factors that have influenced the dynamism of the last five years and demand.

“Developers have been able to adapt increasingly to trends with healthy growth,” he said.
Although in 2016, overall industry growth contracted from 2015, construction of the private sector rebounded and the vacancy rate in industries and offices decreased.

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VIAThe Costa Rica News (TCRN)
SOURCEDaniel Yepez
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