www.CostaRicaTicas.com

Now that the U.S. real estate market has been in decline for about a year I'm curious as to whether there have been any "noticeable" repurcussions to the C.R. market. Is the C.R. market as strong as it was a year or 2 ago or has anybody noticed any sort of slowdown. I ask because I came very close to pulling the trigger on a deal a year ago but fate made things not happen and now I'm wondering whether that may have been a blessing is disguise and that timing may now be better or getting better. Appreciate your comments. Thx.

I think the days of wild appreciation are on hold a little but I don't see prices dropping rapidly. Even in California you don't see prices dropping rapidly. You do see houses sitting on the market a long long time, though. Lack of any reliable statistics here makes anything anybody says little more than guesswork, though.

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"The only normal people are those you don't know very well." Joe Ancis

What you see here in California is all the folks that fell for the "No money down" loans 3 to 4 years ago, are defaulting and losing there casas. Flexible rate loans are flexing the wrong way. Good time to check out the bank owned (REO) properties for good deals.

We went looking all weekend at a large number of properties we had reviewed 6 to 9 months ago. None have been purchased, nor built up. All are still available for the same price, or strangely enough, more. Only Escazu and Santa Ana have seen real drops in prices, but they were WAY over valued to begin with. Belen was just flurting with high prices right before the bubble burst.

For examples;

Santa Barbara de Heredia - Very nice area, a little off the beaten track(higher altitude)
- Vistas de Santa Barbara - Same prices, but 85% of the buyers backed out of original purchases, no new constructions in past 9 months - prices from $15 m2 up to $75 m2
- 7k m2 lots - all still available, half a house completed on 1 lot(ugly as all hell) - all 6k+ m2 lots for $15 m2
- many other lots, fincas, and quintas in the area for $10 m2 up to $45 m2

San Juaquin de Flores - Extremely nice area, just outside Heredia close to the highway
- No new construction on any of the large land we reviewed 9 months prior
- prices have increased to $40 m2 up to $85 m2

San Antonio Belen - Extremely nice area, between Santa Ana and Cariari
- No new contruction
- lots have decreased from $150 m2 to $85 m2
- a couple of the large parcels are being broken up because of lack of interest in large land

Santa Ana - Nice area, traffic is terrible now, much hotter in the past 2 years
- Lots of new construction
- lots have decreased from $150/$250 m2 down to a more reasonable $75/$125 m2
- this area is hotter than Escazu, temperature and sales

Without a doubt the Costa Rica Central Valley has been slammed just as hard, if not worse, than most areas in the US. The prices have decreased in all of the upscale areas, but possibly increased in the outer reaches.

Until the government cracks down on non-tax paying land owners, the prices are not about to budge. Why would they sell land for cheaper when they don't have to pay anything to maintain it ?

What about condos? I know Panama City has a condo boom going on but I'm not sure I've heard of *any* condos being built in San Jose.

there are condo going up in Alajeleta and Desampardos also.

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Living Life To the Fullest {Pura Vida}

There are 10 high rise condos either planned or under initial construction around Sabana Park. There are also many in Escazu.

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Pura Vida
Only Irish coffee provides in a single glass all four
essential food groups:
alcohol, caffeine, sugar and fat.
Alex Levine

Irish
How much of a price differece is there between Escazu and Sabana Park? I own the prices in Escazu are really expensive.

where aren't condos being built in and around SJ or all of CR for that matter. A lot of them are marketed at north americans and the prices can be quite outragous but some are pretty reasonable and I have considered buying one over the last few years over purchashing a small home due to the fact of round the clock security and many are gated with a pool. The entire wall at SJO is nothing but marketing for condos and there is a new magazine out mostly in english marketing the condos in CR.

If I remember correctly the prices in both areas span from around 89k to 800k depending on what amenities ,size and exact location.
What I don't know is how many have central air/heat.

I don't really see why you'd need either, especially the central heat. This time of year I turn on the fan, low, and that's plenty. During January I may actually sleep with a light blanket in addition to the usual sheet and light bedspread.

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"The only normal people are those you don't know very well." Joe Ancis

Looking for any information on Wellington Asset Management. They have developed property in the Jaco area.

I believe their first project was Columbus Heights and now they are doing pre-construction sales of a project named Vista Pacifica.

Any first hand knowledge would be greatly appreciated.

I wouldn't exactly call this a nice area, much less an extremely nice area. I spent one of the top 5 worst weeks of my life there in 2005 in a shitty, beatup, dirty, filthy, smelly, ugly rental house. And we had a rental car so we drove around a lot and saw a good part of that area. Getting into the city was a real breeze, but only after 1am. Pretty much any other time, it took about 45-60 minutes for the 15 minute drive.

Oh, if you like fried chicken, this place is for you. A pollo frito (aka pollo crispy) joint on every block. Yummy!

I have asked the exact same questions several years ago and just about every reply I received back suggested this is a scam outfit NOT to be trusted. BEWARE!!!

I won't go so far as to vouch for them, but I use to see one of the main guys in Jaco alot. Drank with him a few times, had dinner a couple at parties. He didn't strike me as a scam artist. I know a few other people who know him and seem to respect him. That's as much as I know. Take it as you will.