More

    Real Estate Construction in Costa Rica Grows Despite Pandemic Crisis

    Investors develop projects with high pre-placement percentages

    Must Read

    TCRN STAFFhttp://www.TheCostaRicaNews.com
    Like you, we are tired of corporate media that is politically driven and one sided. So we decided to focus on news that’s important to people. We’re Creating a Conscious alternative news network that we feel the world needs and we need your help! We can’t do this without you! Support news and media that matters and that can help change our world!

    Despite the economic crisis caused by the Pandemic, the construction sector is still active, especially class A has the largest inventory. According to experts, in order for developers to start with the construction of these projects today, it is necessary to have a high pre-placement percentage.

    During the fourth quarter of 2020, many new projects entered the market, picking up the vacancy rate above 10%, expected for a healthy market. The country has the highest vacancy rate in the last five years, due to the economic uncertainty generated by the Pandemic, which is why office owners and / or administrators have the challenge to attract customers with infrastructure improvements, higher quality amenities and more competitive prices in the market.

    TIP: Get updates on upcoming Costa Rican Retreats & Events by joining our newsletter. Don't miss out on what's happening around you! Click here.

    “Costa Rica Real Estate”: The Best Investment For You

    Diversification of Amenities

    As part of the trends that continue during this period is the diversification in the amenities offered by constructors to their potential occupants, mainly focused on the well-being and health of the buyers.

    In turn, the rental price decreased slightly and the maintenance fee continued to increase. A phenomenon observed in the multiple improvements of buildings to comply with the new sanitary regulations in the country.

    Caution among developers

    The Tico Market Outlook also shows a caution among developers when launching class A + projects, which comply with characteristics that make them very exclusive with high capital gains, so that the entry of new inventory the market is very small. By 2021 at least 60000m2 of construction would enter the market, which would impact even more the availability rate of the current market.

    Daniel Yepez/ TCRN Columnist/SP

    www.propertiesforsaleincostarica.com

      LIKE THIS ARTICLE? Sign up to our newsletter and we will send you updates of our latest content as soon as they are available. Click here.

      SourceSP
      ViaHJM
      - Advertisement -
      - Advertisement -

      Latest News

      The Safety Of Future Electric Air Taxis Is In The Hands Of Costa Ricans

      The company Avionyx, based in the country, signed a service provision contract with Joby Aviation for the verification of the software that will operate the aircraft
      - Advertisement -

      More Articles Like This

      - Advertisement -
      Language »

      Interested in Upcoming Retreats & Events in Costa Rica? Get TCRN In Your Inbox & Get Updates.