What does the Costa Rica Real Estate market look like for 2017 ? We were curious to see what the local real estate service providers were thinking. To ask the question a survey was prepared in both English and Spanish and it was circulated among the Real Estate service providers in Costa Rica. The survey was answered by 95 persons; 46 persons in Spanish and 49 in English.
The 10 questions asked were:
- What is your expectation for the economic outlook of the Costa Rica real estate market for 2017?
- Where are you located ?
- Where do you anticipate foreign Buyers of real estate will come from in 2017? Rank in order of largest contributor
- What do you believe is the most pressing issue facing the real estate industry?
- With continued global geopolitical instability and the prospects of the elections in the United States would you consider that investment in Costa Rica will be stronger than ever during the next 12 months.
- Which of the following best describes you
- What are Your Buyers looking For ?
- The current government of Costa Rica under President Luis Guillermo Solis is hurting the real estate sector
- What should the Costa Rica government do to attract more foreign real estate buyers ?
- What changes would most improve the real estate sector in Costa Rica ?
Some of the comments provided by the survey participants to the question of what the government should do to attract more foreign real estate buyers were:
- Invest in Roads, Infrastructure, Security, and enforcement of Environmental laws
- Collect the taxes already on the books and improve infrastructure.
- Increase security
- Provide incentives
- Create loan program for foreign buyers of Costa Rica property
- Make residency easier
- Reduce bureaucracy
- Enforce & Collect existing taxes …………..
Some of the comments to the question : What changes would most improve the real estate sector in Costa Rica?
- Require licensing for agents
- Provide easier financing for foreign investors.
- Lower the cost of living so people can put more money into real estate and changes in the law enforcement sector.
- Have better control of zoning and urban planing laws
- Improve banking and credit
- Stable government policies and Security……………..
You can see the full results of the survey below.