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 The Costa Rica Forum
 Costa Rica in General
 Who is STILL buying real estate?
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| Author | Topic: Who is STILL buying real estate? |
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dac8555 Full Member Posts: 264 |
posted 09-07-2006 12:14 PM
  
A friend of mine the other day said he is selling condos on the beach...really high dolar stuff...$500k+, and said he sold 4 units in the past 3 months.
do people really think the CR bubble is different from the rest of the world?
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mediatica Full Member Posts: 146 |
posted 09-07-2006 02:05 PM
The beautiful thing about Costa Rica is that the market is an International one. I have been a Realtor in Tampa for 6 years and our bubble has hit. However, I am limited to a more local clientele for the most part. So long as ocean view property is under a million, you will find people from far and wide to gobble those properties up. Look at how expensive Europe, NYC, California, etc are. I am still buying real estate in C.R, but I am taking more time to look for the non-marked up properties that still will turn a profit in the short term (but I am in it for the long haul if I have anything to say about it). That's just one person's opinion... |
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mamica Recent Member Posts: 1 |
posted 09-07-2006 05:53 PM
Hi, this is for mediatica. I am considering a move to Costa Rica and was wondering if you could give me some info. Do you have an email address where you can be contacted? Thanx |
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trevorchilton Full Member Posts: 139 |
posted 09-09-2006 02:12 PM
Who is buying real estate is not so much speculators but what I would call long term holders. From our project I have found most of our buyers are those wanting to get a foot into tropical real estate before it gets too expensive for them like Hawaii and Miami has. Then there is that flood of baby boomers who have managed their assets well that are looking for a future retirement or at least very long holidays here. Finally there is a group of very upset Americans that want out from being anywhere Bush and his buddies are. Finally there is the international investor from anywhere in the world that just plain like Costa Rica and what it has to offer. No this is not a cheap real estate market for many good reasons and I do not think we are going to see a bubble burst on a wholesale level. However with that being said there is an all to common trend amongst developers to charge for units what foolish people will pay rather than having a selling price that relates to cost plus a reasonable profit margin. The profits that many are getting away with are somewhat obscene when you know what it costs to build. The units sold under these false pricing scenarios are more at risk to a deflationary trend in the future. However there is still developers out there that feel it is important to offer value to their customers so for those that are looking just keep looking until you find someone that speaks your language. You can find an example of such on our own webite: www.gardensofdreamscostarica.com. |
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mediatica Full Member Posts: 146 |
posted 09-09-2006 05:42 PM
Mamica, my email is: mediatica26@yahoo.com. Website is: www.bluewaterpropertiesofcostarica.com. I look forward to hearing from you! |
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LaTigra Full Member Posts: 203 |
posted 09-10-2006 04:35 AM
well said Trevor - couldn't agree more with your analysis the buyers today have the staying power to produce very obscene ROI's in the future remember folks - 1945 + 62 = next year and Boomers is not an american deal - the german, russian, frenck, english and other boys went home to their girlfriends too ... ------------------ just an old gringo enjoying the pura vida |
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julius Recent Member Posts: 3 |
posted 10-24-2006 08:02 PM
Hi there, just in case you guys want second opinion before buying any property in CR, you may want to check it out with people who have indepth knowledge of the site and reasonable cost of real properties in the area. Don't have to worry a thing coz it's all for free... thanks. Check it out at Costa Rica Property |
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scubanow Recent Member Posts: 9 |
posted 10-24-2006 09:17 PM
Hi Dac 8555 ! What do you think about bringing Cell phone to use in Costa Riva? I'm from usa. Will my charger work there? Thanks! |
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dac8555 Full Member Posts: 264 |
posted 10-25-2006 04:10 AM
scuba, Doesnt work i am afraid. they are on a special network here. You have to buy a new "chip" for the local services...but it is very hard to buy just the "chip" becuse they assume the cell phone is stolen. this is not my area of expertise...but there are only certain types of phones that work here. The safer bet is to buy here, rather than in the US. but, if you already have the phone, bring it down and you can ask around if a chip is available. |
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JUANEBAT Full Member Posts: 62 |
posted 11-10-2006 12:42 PM
Who are buying real estate in Costa Rica .? I did about 5 days ago. Land, (In process of been developed). And ,yes it maybe risky , but also has potential. Ocean view (Manuel Antonio, you can see it in the distance, about 5-8 miles or more ??..no sure) place name : LAS PALMAS they are 1.25 acres average . I got 2.17 acres with stream and view of a waterfall 15 feet away at the entrance . I don't need the money and could sit there for 10 years , is ok . Does anyone knows if there is any place where they built many (hundreds?) of small , 1 bedroom cabins with a loft , and communal facilities for solo or small party of travelers ..Years ago, I received a brochure , they were selling 400 cabins like those near Orlando Fl , for $14,000 a piece! I regret I didn't buy one .. Wonder if can be done in CR ... Text |
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cooler45 Full Member Posts: 15 |
posted 11-21-2006 11:25 PM
I don't think the costs of properties in Costa Rica has already reached its ceiling. The real estate industries is very much stable and still very promising to investors. There are locations and developments that caters to people with limited budget anywhere in Costa Rica. One will just have to be more careful with the people they deal with or end up buying a piece of property more than its actual market value. Be wise but be nice. julius www.costaricaconsultants.com |
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dac8555 Full Member Posts: 264 |
posted 11-22-2006 09:21 AM
cooler, You are, of coarse, in the real estate business. It is your job to be positive about it. I was a stock broker in the late 90s and early 2000-01, and it was my job to tell people "oh, yeah...the market should go back up soon...patience." you may very well be right, and i may be wrong. But it seems that some people say "its costa rica...it is not the US...it is different here" and dont realize the risks involved. do you think that the prices wont correct here like they are correcting in the US, Europe, Australia...etc? do the clients think it wont correct? do they just buy becsue it is chaeper than Califorina and hawaii so therefore it must be a good deal? |
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cooler45 Full Member Posts: 15 |
posted 11-27-2006 10:12 PM
Dac8555 Thanks for your comment but it seems that you missed my point. Being positive about the industry doesn't mean hiding all the risk and negatives an investor should know about the market. While I am aware of all sorts of negativity that have been said about real estate sector, we still believe that the industry remains stable and very profitable for investors or buyers at this point. It’s just a matter of proper timing, knowing trusted people in the industry and thoroughly studying the market before making any decisions. Investors don’t just buy because it’s cheap, but rather because for them it’s currently a very wise investment. We do not underestimate our client’s capacity to decide when buying or investing into something here in Costa Rica. I understand it was your job as broker to tell people "oh, yeah...the market should go back up soon...patience." but ours is more “Get in now while it is hot”. Those who listened to their agents and invested in California and Florida early have made fortunes. Costa Rica is the next California. It is not something we simply believe, we see it happening before our eyes. Our clients are tripling their investments in only a few years…many more than tripling. The great thing is knowing Costa Rica as well as we do, we don’t see it slowing anytime soon. Julius www.costaricaconsultants.com |
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plaboon Full Member Posts: 16 |
posted 03-24-2008 05:44 PM
I'm down in San Pedro right now and I've been talking to the local "real estate professionals" in the beach towns and everyone has said the market is seriously slowing down and pushing inventory is getting harder every week. Same thing that happened in Florida, Las Vegas, California, etc... I'm personally going to wait until the market corrects itself which is certainly is going to happen. There is no rhyme or reason to the pricing of real estate here other then "Someone paid alot of money for condos here so we will build similar condos next to it for around the same price". One thing to remember is that everyone uses the same old line comparing a country's real estate to early Florida or Hawaii and to me that is the worst pitch ever. There are so many factors that I won't get into here but just remember in the last hundred years the dollar has devalued to 4% - meaning if you just kept a dollar in your dresser drawer it would be worth $25 (and this is not collecting compounding interest). Costa Rica has the most stable government now in central america but will it last the long haul? Maybe maybe not - NO ONE knows and anyone that says they do is trying to sell you something. Try and drive down any road in any city here and not see "NO TLC" spray painted on the walls... The people (at least the ones with access to spray paint) are not happy with whats happening to their country. Does anyone remember the last unbeatable tropical investment mecca? I think it was spelled C-U-B-A... I love this country, just sick of all the "Buy Buy Buy" crap I see on the forums. |
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dirkinoz Recent Member Posts: 9 |
posted 03-27-2008 08:27 AM
My question has nothing to do with real estate. We returned from CR about a month ago and also saw the NO TLC everywhere. I hate to admit my ignoraca but may I ask what that means? |
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jdocop Full Member Posts: 426 |
posted 03-27-2008 08:55 AM
I think that is a reference to the CAFTA, the so-called free trade agreement between the U. S. and various Latin American countries, including CR. |
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