Cross-border or international real estate investment is a new driving force in real estate markets globally. In North America there is a growing trend for affluent Baby Boomers to buy properties in Central America for vacation and retirement and this trend is expected to see steady growth over the coming decade.
Real estate professionals in Costa Rica (and globally) are seeking efficient marketing channels to reach buyers who are searching for cross border/international investment properties, second homes, and vacation properties. And North American buyers are looking to countries like Costa Rica for these opportunities because of proximity, value, and life style choice.
Other international buyers are zeroing in on Central America as well. Chinese buyers alone are predicted to purchase US$50 billion of overseas property in 2012, more than US$40b of that outside the United States, so attracting international buyers is important for real estate professionals all over the world and even more important for countries like Costa Rica to advance promotion and PR to the global market.
International Living recently listed Costa Rica in ‘The World’s Best Real Estate Markets in 2012’, stating “These are markets on the upswing. The mainstream hasn’t heard of them yet. And in them today you’ll get excellent bang for your buck as well as great profit potential.”
Whether you are interested in income, short-term gains, long-term investment, a second home to live, or for vacation and enjoyment while it increases in value, Costa Rica offers many opportunities. The process to buy Costa Rica real estate is very streamlined and foreign property owners have the same rights as nationals.
Regulation and oversight in the Costa Rica real estate industry has improved tremendously over the past few years, but it is still very important that buyers do their due diligence on their realtor choice(s). They should be registered in the centralized national database of properties (Registro Nacional). Also select an agent that specializes in the type property or investment you are looking for.
There is a growing trend now for real estate agency companies to be more consultants in that they will also help you with other aspects of moving and living in a foreign country.
In you want any information and/or recommendations on real estate, agents, property investment, second home, or general info on moving and living in Costa Rica, contact at The Costa Rica News, and we will have one of our experts on the Support team assist you.
TCRN Staff