Infrastructure improvements almost always result in higher property values and that means more good news for Costa Rica real estate. In November of 2013 plans for a $450 million loan to improve Costa Rica’s infrastructure were announced. The loan is comprised of one $400 million loan from the IDB (Inter-American Development Bank) and one $50 million from the China Co-financing fund for Latin America. In the last year alone we have seen major improvements in Costa Rica’s infrastructure and we’ve witnessed the positive effects these have had on Costa Rica real estate up and down the Pacific Coast. This most recent announcement will undoubtedly give real estate investors more to look forward to in the years ahead as Costa Rica real estate continues to improve as a location for more than just vacations, but for relocation, development and investment.
In the past few years we saw infrastructure improvements in Guanacaste cause the real estate market to surge. From road repairs and highway expansions to the growth of the Liberia Airport, Guanacaste real estate continues to see the positive effects of infrastructure projects. Most recently, the Southern Zone of Costa Rica has become the talk of Costa Rica real estate experts. With the new Caldera Highway and expansion of the Costanera Sur Highway travelers can now easily access the once secluded Southern Zone. Now areas like Dominical and Palma Sur, that were once a grueling 8 or 10 hour drive from San Jose, can be reached in just a few hours on a pleasantly scenic highway. And plans for expansion of the Palma Sur airport leave even more to be seen with the growth of Costa Rica real estate in the Southern Zone.
Infrastructure Improvements Mean BIG Things for Costa Rica Real Estate
So what does this most recent news in infrastructure improvement mean for Costa Real Estate? That we can expect even more accessibility and even more growth in Costa Rica real estate along the Pacific Coast and throughout the entire country in the years just ahead.
According to the IDB “The Transportation Infrastructure Program is part of government efforts to improve the infrastructure in order to reduce the huge backlog that Costa Rica has regarding investments in transportation infrastructure, reduce costs and travel times of people and goods, increasing road and port security by construction, rehabilitation and improvement of pavements and bridges that are part of the road network of the NTP reference, as well as the expansion and improvement of port facilities included in the plan.” With this news and big improvements on the horizon, 2014 will undoubtedly be a good year for Costa Rica real estate.
For more details on the Costa Rica infrastructure loans visit IADB.org.
For information on Costa Rica Real Estate contact us.
Photo Credit – Tiquicia’s Blog