After 2005, the property market here in Costa Rica went in to stagnation. Unable to handle the serious decline in interest in real estate, many agencies closed their doors.

During the peak of the world recession, realtors really began to struggle with how to counter the current economic climate. Sure foreclosure properties were common place but without buyers it’s inconsequential. A few savvy investors did seize the opportunity but over the whole, the average home investor looking for either a vacation or retirement home, were nowhere to be found.

Essentially the Costa Rica property market was as quiet as a morgue and like any recession, this gave opportunity to a select few.

We are now seeing much more co-operation amongst realtors and even the formation of a Costa Rica MLS. Realtors quickly realized that they are stronger in formation and alliance with one another rather than a non-cooperative competitive environment that has dominated here for so many years. Sometimes change is better.

Then the crazy uncle walked in the party and spiked the punch…

These days we are witnessing a shift in attitude towards investing in Costa Rica property and other Latin American countries. It would be difficult to not surf around the WWW and not come across some form of advertising for real estate in the big three… Costa Rica, Panama and Nicaragua.

A keen investor mind will tell you that there is great potential in investing in tropical countries especially a country as democratically stable, eco-friendly and all around relaxed as Costa Rica. Investment in real estate is a relatively simple process and in most regards, easier than purchasing property in Canada or the US.

Average beach properties being sold are between $300-$400,000 USD while inland properties being sold are still relatively low at $50-$150,000 USD.

With plenty of media coverage, Costa Rica is more and more popular every day. The tourism industry in 2009, allocated millions to target the US market. Dubbed “CR Plus”, this marketing campaign was designed to appeal to the frugal traveller looking for an escape vacation but at the same time not losing their shirt.

This campaign continues today as the tourism board realizes that in order to improve tourism numbers, they need to place the country in front of the people that matter most. Ideally the correct target market.

Heading in to the future, it would appear the market is on the rise yet again. We don’t believe we will see the same conditions of the early 2000 market any time soon but at the very least, we are on the rebound.