Costa Rica Real Estate and International Investors
Costa Rica Real Estate and International Investors
There are international developers currently looking for deals in Costa Rica real estate. The past boom in the country created some opportunities because many properties in Costa Rica were left unfinished when the market fizzled in late 2008. They are looking for the money trees of the next boom.
However, some Costa Rica real estate opportunities that look good are not what they appear after doing a little research into their funding. The most common problem is the original founders borrowed too much money to get the projects moving because they believed they would sell the properties in Costa Rica fast enough to pay off the debts.
There are other problems too. Many of the original developers did not do their due diligence and bought land that in some cases could not be developed. In other cases, only a small portion of the Costa Rica land is dividable and buildable. Other problems range from water issues, slope of the land, offsets from springs and rivers, and forestry restrictions, to name a few.
There are property deals to be had in Costa Rica today. From single properties where the owners are broke and need cash and are willing to accept in some cases ridiculous offers to large developments that were never finished.
In the case of the large projects, some have real big problems and expensive ones to fix from a legal point of view, but there are others that do not have legal problems or at least only little ones that are easy to fix.