Another Chance to Make Big Profits in Costa Rica… But You Must Act Now
Today's Financial News - Posted December 22, 2008
Ronan McMahon of International Living has located a rare opportunity for those looking to invest in real estate in lush Costa Rica.
By Ronan McMahon, International Living
Wish you had a time machine? I just might be able to help you out with that!
Back in the early 1980s, International Living recommended buying real estate in northern Costa Rica. Readers who took this advice reaped big rewards.
This part of Costa Rica became the No. 1 destination among foreign retirees and investors who wanted to buy land that would increase dramatically in value. These buyers made very wise decisions, as the prices for beachfront property along the Pacific coast increased six-, eight-, tenfold, and beyond throughout the ’90s.
Your chance may have passed in this part of Costa Rica, but I can tell you where to find another pocket of opportunity… a place where prices have stayed low. Why? The area I’m talking about has been difficult to get to. That’s set to change — giving you the opportunity to position yourself ahead of the Path of Progress.
Some of the most amazing scenery in Costa Rica is in an area that runs south of Quepos on the border with Panama. Landscapes here in Costa Rica’s southern zone are dramatic: panoramic ocean views… lush tropical rainforest… and jungle-clad slopes rising sharply away from pristine stretches of sandy beach.
In a country with an established real estate market like Costa Rica, this sounds like just the type of place that would attract a lot of fervent investors. Difficulty getting there has kept it under the radar in terms of development and kept prices far lower than areas to the north.
The Costanera Highway is unpaved between Quepos and Dominical and the airports are small, local affairs. The airport in Palmar Sur is a one-woman show — she issues tickets, checks baggage, and answers queries, while you sit on a wooden bench overlooking the small strip, alongside your co-passengers… all 11 of them. No duty-free shop or airport food here.
These are exactly the kind conditions I look for when scouting for a good real estate opportunity… especially when plans to improve the infrastructure are in place.
For now, pricing here is among the lowest in Costa Rica. I found 1.25-acre lots close to Ojochal for as little as $65,000. Construction costs are roughly $90 per square foot.
So for $245,000, you can own your own piece of this tranquil setting in a custom-built, 2,000-square-foot house on a large lot.
That really is a good-value buy, considering that in Manuel Antonio, near Quepos a 2,200-square-foot condo averages $595,000 and a 1.25-acre lot is listed at $325,000.
The important news for investors is that road improvements on the Costanera Highway are underway and scheduled for completion next year. This should cut the 90-minute trip from Quepos to Dominical to 25 minutes.
An international airport is planned for Palmar Norte. Due to be completed in 2010 (the government has already allocated funds), the airport is planned to open in stages; the first, in 2010, will allow international flights with a maximum capacity of 50 passengers.
Eventually, the plan is to have a runway capable of accommodating even the world’s largest passenger plane, the Airbus A-380. An airport of this scale needs to be close to a hospital and one opened last year in Cortes, just 10 minutes from the airport.
I have been bullish about the opportunity in Costa Rica’s southern zone for the past six months. Today I got word of a government policy decision that makes this opportunity even more exciting.
The Costa Rican authorities have tightened up the regulations for developing land in this area. They are committed to controlling the pace of change, and prevent destruction of primal rainforest. This limits the number of future projects, and sets out to preserve the raw beauty of the landscape.
That all points to one thing if you get into this market today… the value, like northern Costa Rica in the ’90s, will soar in value.
Editor’s Note: Ronan McMahon is the Executive Director of Pathfinder, which specializes in finding offshore real estate before most people catch on… and at prices you’d only think to find in history books. It’s not easy to get hold of Ronan… That’s why I’d hate you to miss out on his next speaking engagement with International Living… the Ultimate Event IV, March 3-6, 2009 in Quito, Ecuador. At the Ultimate Event IV, Ronan will show you where you can still buy investment property like a renovated beachfront home for under $70,000… and expect its value to keep rising for years. Or how to find, today, places like the Caribbean island of Ambergris Caye, off the coast of Belize, where a beachfront lot that went for $35,000 in 1991 is now worth $360,000. But I must warn you… the Ultimate Event IV has already generated unprecedented interest and seats are filling up fast. So don’t wait any further, sign up for the Ultimate Event IV now!
Next Article: Will the beggars please form a line…
2 Responses to “Another Chance to Make Big Profits in Costa Rica… But You Must Act Now”
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December 22nd, 2008 at 4:24 pm
This article is a little off….I own and run the Coldwell Banker office in Tambor (located on the Nicoya Peninsula) and we have 1.25 acre lots for $30,000, in a gated community WITH power and water. These lots are within 8 minutes to the beach and an EXISTING airport! ALL the roads are paved here. In the same project I have 2 acre lots WITH GREAT OCEAN VIEW for $50,000!! All with power and water…It is true that there are several places in Costa Rica where you can find great deals…but there are certainly better deals than what this guy's pushing. write me at spencerj [at] purecosta [dot] com for more details or visit http://www.purecosta.com. If you really want good deals in beautiful, accessible areas of Costa Rica, you've gotta see what I have to offer. It'll blow you away…. Pura Vida! Spence
June 26th, 2009 at 1:25 pm
I agree with this article. I live and work in Costa Rica’s Southern Zone. Stationed out of Dominical, I operate in the areas south of Quepos all the way to Palmar Sur. Land prices do reflect that this area is late to develop. Due to current market conditions, prices have dropped and there is more inventory on the market than ever before. It is surely a buyer’s market! However, as the Costanera is paved between Manuel Antonio and Dominical, and the International Airport is built in Palmar Sur, the window for cheap investment is limited. Prices will be sure to rise as infrastructure develops. Therefore, the article is correct saying “you must act now”. For more information e-mail Trevor [at] landassurance [dot] com or check http://www.landassurance.com. Pura Vida! Trevor