The Central American country of Costa Rica has been identified as one of the most popular areas for overseas property investment for retirees, business owners and second home buyers.
A multiple listing service has also been incorporated into the property market in Costa Rica, augmenting the growing popularity of the sector by providing a central forum on which buyers and sellers can do business.
Among the features of the country that have made it an attractive option for overseas investors are its luxury beaches, its tropical climate and the fact that it is populated by many people who speak English as their second language.
A large amount of investment has driven the recent boom in Costa Rican property, with large condominiums being built in areas such as Escazu and $100 million being spent on commercial developments such as restaurants and shopping centres.
The launch of property database EstateRealty.com has also played an important part in the rapid development of the property market in Costa Rica.
Tim Schmidt, president of EstateRealty, said: “The vast majority of people start their search for real estate on the internet and we realised someone needed to pave the way for both buyers and sellers alike to help them in their quest to buy or sell homes across Costa Rica.”
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