Costa Rica A Hot Real Estate Market

The u.s. real estate market may be cooling, but one place where real estate Is still hot Is Costa Rica. This stable, Spanish speaking democracy in Central America is currently one of the hottest real estate markets in the world. Guanacaste Province located on the Pacific Ocean side, in particular, is the fastest growing area. Blessed with pristine beaches, lush tropical rainforest and good weather, this area has seen a significant increase in the number of Americans, Canadians and Europeans living here. This small country has attracted more than 100,000 expatriates to its shores with its pro-American stance, its safe and equal protection of property ownership by foreigners, and its reasonably priced real estate. Further; the low cost of living in this small country allows many to maintain their life style on retirement income. Costa Rica is also attracting younger expatriates 24 Westside Today· February 2007 with its promise of higher quality of life, American schools for young children, and its growing economy. The Costa Rican economy is being transformed from its long-time dependence on coffee, bananas and cattle-raising to one centered on industries such as tourism, microprocessor production, and high-tech telecommunications services. Tourism is providing additional opportunities for investors. With its spectacular natural beauty and peaceful atmosphere, Costa Rica attracts over one million visitors annually. Many of these visitors are attracted by eco-tours. Costa Rica is well known for the premium that it places on the environment. In fact. the odds of seeing wildlife are greater in Costa Rica than anywhere else in the world. Costa Rica is also a world leader in terms of eco-friendly practices and protected areas, with 27%of its land mass designated as national parks or reserves. "wnen I planned my first vacation to Costa Rica 7 years ago, I had no idea how it would change my life," says Carol Ferguson a former resident of Washington, DC and Miami, Florida. "I am living here full time with my family in Tamarindo, Costa Rica and building a new home in this amazing community called Tamarindo Heights. We are fulfilling our life's dream of living near the ocean, our kids go to a great American school, my husband has all the telecommunication and internet resources he needs to work, and we are living a significantly healthier lifestyle." It is clear to see why Costa Rican real estate is hot. If is a country of unequalled beauty, with friendly people, a high standard of livlnq and an interesting blend of local and foreign cultures that truly make it the jewel of Central America.