Some people absolutely love the idea of relocating while others think moving to a new home is a laborious chore. However, even though relocating can be stressful, you might find the effort was well worth it once you’ve settled in. You might need to find a new home to make getting to work easier, or you might have decided to downgrade and save some cash now that the kids have homes of their own. Alternatively, you might be looking to invest in a property in order to make some cash at a later date. If you’re looking to downsize so that you have more money to spend during retirement or would like to buy a home for investment purposes, you might want to consider purchasing a property in Costa Rica.
If you’re approaching retirement, you might worry that your money won’t go far enough in the place you currently live, but many foreign countries have a much lower cost of living than you’re used to, meaning you could enjoy a life of luxury without needing a lot of cash. Additionally, if making cash is your main priority, you can purchase a property in a country that has a growing economy. The property pricing trend in Costa Rica shows that property investment can be extremely profitable, which is why this article details some of those trends below.
Property Prices in Costa Rica
Lots of people think that moving to a new country would take too much effort, but it’s actually easier than you think to move to Costa Rica. Plus, the following pricing trends show that purchasing a property in Costa Rica is a smart investment:
- Condo prices in Costa Rica – The purchase price for a condominium in major cities such as San Jose increased by 3.6 percent on average in the year leading up to August 2016, thanks largely to the fact that luxury condos are becoming increasingly sought after by foreign nationals and affluent Costa Ricans. Many studies show that condo prices are set to rise further.
- House prices in the capital – Some people like to relocate to a quaint town in Costa Rica to escape the hustle and bustle of the metropolis they currently live in. However, you might want to consider purchasing a house in Costa Rica’s capital, San Jose, because house prices increased by a whopping 6.2 percent in the year leading up to August 2016.
- The property market is growing – Rising house prices is a good reason to invest in Costa Rican property, but it’s also good to know that property purchasing activity has increased by 14 percent since 2013. That means your property will become more valuable and you’ll have more customers to target as we progress into the future.
A Change of Scenery
Now that you have a little money saved and fancy investing it in something worthwhile, you should consider purchasing a brand new property in Costa Rica. Just make sure you compare listings thoroughly to ensure you spend your money wisely.