Global economy, the thousands of possibilities in Central America.
The global economic crisis is obviously a top three topic on everyone’s minds. These last years have been especially hard on those that were on the edge of retirement and were forced to continue working well past the retirement age just to survive the loss of pensions. Many are seeking new options to make their retirement dollars stretch longer.
Costa Rica and Central America in general are looking better and better as a possible alternative. The key reasons include lower cost of living, good medical care, an educated work force, and an excellent climate. In Costa Rica tourism has continued to increase despite the world economy. Forecasters predict a significant increase in tourism for the next five years. It is for this reason that Costa Rica will continue to have more and more ex-pats moving here.
Playa Negra Real Estate Trends.
Real estate prices in Playa Negra and the surrounding areas have mainly stayed level throughout. Sure, there have been many homes, condos, and lots that went into fire sale. A large percentage of these were bought with second mortgages on first homes. When the market dropped out up north those who were on the edge of making it had to make steep discounts on their properties here so they would not lose their principal home up there.
The largest upside to all of this here at the beach is that developers are changing their vision. In years past, lot prices close to the beach in and around Playa Negra generally exceeded $100K. Now, the new trend is to find a way to make prices more accessible to those on a smaller budget. For example, one development near us with amazing ocean views a mile or so to the beach had large 1 ¼ acre lots for well over $100K. They recently changed their game and now offer smaller lots with the same views for only $39K. Other developers are following suit with ¼ acre lots for only $25K.
Sure, every now and again a true fire sale comes up in the areas surrounding Playa Negra. However, one has to be here in the moment. The true good buys are the ones listed above. They offer security for the future.
Don’t hesitate to contact us for information about today’s best buys.