Costa Rica

 

Costa Rica and its Commercial Real Estate Market are unique in many respects. Did You Know... 

•   Costa Rica has a population of over 4,300,000 people and an area of 19,730 square miles.

•   Costa Rica is bordered by Nicaragua to the north, Panama to the south, the Pacific Ocean to the west, and the Atlantic Ocean to the east. It is the only country in which both the Atlantic and Pacific Oceans can be seen from the same point. 

•   It is one of the most developed and economically and politically stable nations in Central America. Costa Rica is also one of the few countries in the world to constitutionally abolish its army.

•   San Jose, with a population of about 343,000 people, is the capital and largest city of Costa Rica. San Jose was the first city in Central America to be illuminated by electric energy.

•   Since the late 19^th century Costa Rica has had only two brief periods of violence. At the present it has over fifty-nine years of uninterrupted democracy, which is the longest in Latin America.

•   Electronics, pharmaceuticals, financial outsourcing, software development and ecotourism have become the prime industries in Costa Rica's economy. 

•   In an effort to attract foreign investment in the high-tech industry, the Costa Rican government has implemented several plans of expansion. It also offers tax exemptions for those who invest in the country. 

•   Lower labor costs and an educated labor force are some of the factors that are attracting foreign investment to the country. The economic growth and the rising FDI in the country have positively impacted the commercial real estate market because demand has increased as well as the quality of the stock.

•   Rentals in Costa Rica have increased in the past 24 months because supply does not meet demand in some sectors of the real estate market. Prices are expected to continue increasing until there are more spaces available.