www.CostaRicaTicas.com

As if Jaco didn't have enough hi-rises going up--I counted 5 cranes three weeks ago. Coupled with Daystar's hi-rise projects and now Ramada-----
Good-bye sleepy little fishing village--Hello big developement



Ramada resort hotel in Jacó to be started in October

By the A.M. Costa Rica staff


A Ramada hotel in Jacó will be the centerpiece of a project that also will include six 10-story towers holding 38 condos each. The giant project is likely to change the face of the Pacific beach community. The project is just two blocks from the beach. The full name is Ramada Resort & Residences Jacó Beach.

Century 21 Playa Jacó said it is marketing the units to investors and occupants in anticipation of the completion of the project in November 2007. Construction is supposed to start in October. The project is being developed by Grupo Zeta of San José, which developed the concept of free zones in Costa Rica and also owns the Megasuper grocery chain.

The towers contain two- and three-bedroom units that sell for from $267,800 to $309,600, as well as penthouses that are being marketed pre-construction for $572,900.
Thomas Ghormley H., the Century 21 broker, said discounts are available for investors who purchase entire 38-unit towers. He said the project is ideal for foreign investors and those seeking a second home in a peaceful stable country.

Ghormley, in a cover letter to prospective investors, said the hotel will have 72- rooms, five-star amenities and four-star service. Any advance payments, he said, would be held in third-party escrow.

Zeta said two adult swimming pools and two pools for youngsters will be part of the project, as well as spa and fitness facilities, a bar-b-que area, a playground and a sun deck.

In addition to several condo projects in the Central Valley, Grupo Zeta is a major rice and pork producer with offices in San Jose's Barrio Dent. It also has real estate holdings in El Salvador, Nicaragua and Guatemala

Is that in colones? ¢¢¢:lol:¢¢¢ Do people actually pay that in a third world country?



It's not so bad, they're offering a discount if you buy the whole tower.

I hope the Ramada will be chica friendly.

Yes, I believe those prices. All you have to do is walk down the main drag in Jaco and look at all the advertisements for new developments. Prices are outrageous for everything in Jaco. So..where is the next paradise

dapanz1

They pay well above that. Check out prices in Escazu or Santa Ana

Some prices in these areas make those prices seem very reasonable
Remember Escazu and Santa Ana are not anywhere near water and yet the prices are higher.

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

I'm starting to believe the folks that think it is an artificial market. IMHO I think a lot of buyers are buying blocks of these as investments and that al ot are going to be sitting empty. I'm no expert but I know Jaco has a bit of a rep and don't see wifey and the family wanting to come here.

3rd world-
Think about where all the big easy money is? Is it in dealing with mongers, drug oriented individuals, surfers, etc---or taking the big easy $$$ from the rich families. "They"(policia/gobierno) could, relatively easily, dispense with the drug presense and violence, and even the hookers could be compartmentalized into a restricted area in the quest for the big ecotourist family dollar.....the adverse possibilities to us, run of the mill, mongers are endless. Adios Central Disco, adios El Bohio(at the end of the year), where does it end--there will be no local, colorful little joints on the beach....only upscale hotel/condo bars and Planet Hollywood types,etc, catering to the $2/500k condo crowd. I guess I won't fit in anymore. Que lastima!

When the CR economy crashes we'll see if the prices are still $300K. I would be very leery about making that kind of investment in a country that is teetering on bankruptcy.

Jaco... I don't think the Costa Rican economy has anything to do with the prices. Gringos are the market here, not locals. I recently sold the family home near Sacramento for over 300k, the home my father paid less than 13k for in 1958. Prices will fall here when prices fall in the States, not before. There are still plenty of bargains in this country but they aren't the gringo developments.

IMHO, Jaco is popular because it's close to San Jose, and that's about it. There are lots of nicer beaches and better prices.

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

I concur with Thirdworld...I will be suprised if there are not many empty units. Won't the investors and/or buyers visit Jaco prior to buying? What are they going to think once they see the 'crappy' beach there?! At least the Los Suenos development a few miles north has a marina and golf course. And Quepos has an airport and better beaches.

_________________
"In a nation ruled by swine, all pigs are upwardly mobile, and the rest of us are phucked until we can put our acts together; not necessarily to win, but mainly to keep from losing completely"...Hunter S. Thompson (RIP)

We've got so many scum bags selling drugs and peddling ass on the streets. So many people are gonna run screaming when they visit for the first time. I'm talking the family types. And the news didn't help yesterday, although it was in Spanish and probably not many gringos watching. It was a 15 expose on the seediness of Jaco. Showing the guys talking with the girls on the street, the BB, the Monkey bar. Showed it like this is all there is too Jaco. Wasn't very good publicity.

I'm not so sure about those units going empty.

Las Vegas a hot, sandy town in the middle of a desert and has high-rise condos going up EVERYWHERE and we're talking HUGE amounts of money.
There is no tropical climate, there is no ocean, there are no bargains and there is no view (except neon) yet people are flocking to buy these places.

With the mass of baby boomers reaching retirement age over the next 20 years coupled with the over-hyping of Costa Rica investments in the US (check out every edition of the Sunday newspaper in any major city in the US) and you've got a mentality of people thinking this is the place to retire.

With the inflated prices of housing in the U.S. people will look at the prices in Costa Rica and think "this is a pretty good deal". When they sell their house at home they'll have the money to buy their dream house in Costa Rica.

When I tell people I visit Costa Rica they always ask me about the land being so cheap. I tell them that was 10-20 years ago. That train has left the station. But all the advertising has done it's job. The perception still remains that you can move there and live on an acre with an ocean view in a nice 3BR house with maid and gardener for $60,000.

Once a guy convinces his wife to visit she'll fall in love with Costa Rica. All he has to do is convince her it's safe and she'll move. They won't see the dark side of things for awhile. You can be sure the real estate "agent" won't be telling them about it.

As I see it it's not going to get any better anytime soon.

Wit

There is definitely still money to be made in property here. I'm just not sure if the best investments are these high priced condos. I have a friend that pretty much built a mansion for what a lot of the condos are starting out at. I'm just speculating though. I'm definitely not an expert here. Hope all is going well back home Witling. Good to finally meet you.

TW,
How the hell could things be going well back home? I'M BACK HOME!
It will get better in 55 days.

Seriously, it was a pleasure meeting you and hanging out at Kamur and the Del Rey. Hope to see you again over Labor Day.
Good luck on the business ventures. I hope you're very successful, I may need a job someday.

Hugs,
Wit

Hey Witling, You need to come with me to Jaco some time ... Maybe we can get TW to come out and party with us. 'Word on the street' is that he might learn to cut a rug real soon . As for the new condos ... I just want to know which digs will be housing all my poosie?

_________________
"With foxes, we must play the fox." ~ Thomas Fuller

jaja Yeah, I'm a pretty boring guy on my home turf. I've got the info, but I don't really like to go out in Jaco. Try to save my energy for SJ. And yes, this week I am going to get a dance lesson or two. The gringo that can dance salsa has the keys to the kingdom down here.