New areas of Costa Rica opening up to property development

Costa Rica attracts foreign investors
Property development in Costa Rica is reaching out to previously inaccessible areas and offering investors different choices, according to a new guide.
The opening of previously non developed areas along with government investment could create a property boom, according to the publication, Costa Rica - The Owners Manual.
Developments underway or starting soon include the largest full-service marina in Central America, new hospitals, a new airport and new roads.
'The massive government approved projects underway will catapult this area on to the world stage with blistering speed. Massive, government infrastructure projects like this don't come around often. The last time we saw something similar was 10 years ago, a few miles down the coast, when property prices exploded by over 800%,' it says.
Costa Rica has been popular with US retirees for almost 20 years but is only now coming into the mainstream. It has a stable government, plenty of foreign investment, a well-educated population, first-rate health care, and a thriving tourism sector.
'With space running out in the most popular towns, the government is working furiously to open up previously inaccessible areas. Costa Rica now ranks as the most technologically developed country in all of Central America. The government has attracted several high-tech companies by offering tax holidays of up to 20 years. There are also many incentives for tourism companies,' the book continues.
'The workforce is well educated and most speak English. Costa Rica offers investors and relocated businesses plenty of advantages. Among the companies to open branches here are Acer America, Baxter Healthcare, Intel, and Panasonic.
'The presence of offshore banks has grown exponentially in recent years. Within the last three years, the total amount of funds these banks have attracted has increased by 65%,' it says.
Attractions include diving and snorkelling, walking, white water rafting, fishing and kayaking. Property consultants reckon that high in the Central Valley you can still find bargains but even on the Pacific Coast, the current Mecca for property investors, it's still possible to find small fishing villages and unspoilt stretches of beach.

Source: http://www.propertywire.com/

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