Colli Real Estate

Foreclosure Fever: It’s Heating Up in Costa Rica

The real estate market crash in the US has ignited a fevered interest in buying Costa Rica foreclosure properties as people eagerly look to move their savings and investments offshore. For investors from the US and the UK, Costa Rica foreclosures are a great way to get money out of failing economies. Of all the offshore options, Costa Rica is an excellent choice – it’s politically stable, continues to grow as a tourist and retirement destination and there are no restrictions on non-residents buying properties. 

In response to the growing demand for more information in English about Costa Rica foreclosures, CostaRicaRealEstatePages.com has recently launched a Costa Rica Foreclosures list and consulting service on their already established Costa Rica property MLS at www.CostaRicaRealEstatePages.com. As they explain on the website, there are some great investment opportunities in Costa Rica foreclosures, but investors should rely on professionals to do thorough research before a purchase to minimize the risk of legal issues which could jeopardize an investment.

The number of properties going into foreclosure in Costa Rica is increasing almost daily, as is the quality of the properties. With so many good options available at a discounted price, buying at market value doesn’t make sense. The best way to get a good ROI is to begin with an excellent deal that gives you a head start, and buying foreclosures is a great way to get ahead in Costa Rica.

For those people still holding on to their cash, hoping the market will go lower yet, the estimates are 2-6 months for the market to hit bottom, although some say it already has. So be careful not to wait too long – if you are planning to wait until everyone says it’s ok to buy again you will be following the herd and buying in a rising market, thus missing out on this opportunity.

Everyone’s goal is to “buy low, sell high” and now is the time to buy.  Statistically the US experiences a recession approximately every 75 years.  The last one was in the 1930’s and here we are in 2008, right on schedule. This means that most of us will have just one golden opportunity in our life to buy this low. The people who buy now will be the ones selling high later.

Foreclosure properties in Costa Rica sell for 50-70% of their market value. There are no hot tips here, just common sense that says your goal is to pay the lowest price possible and foreclosures offer that margin of return hard to find elsewhere. A safe haven for foreign investment, Costa Rica property has been considered a inspired investment for years. Now we’re experiencing a market primed for profit and investing in Costa Rica foreclosures may just be the opportunity of your life time.

By Jennifer Cross, November 2008
For more information about buying foreclosure property in Costa Rica, or to receive a free list of the lastest foreclosure properties, please contact Jennifer Cross at Jennifer@costaricarealestatepages.com

About the Author

Jennifer Cross is originally from Toronto, Canada and has been living in Costa Rica for about four years. She now runs www.CostaRicaRealEstatePages.com, the English MLS for Costa Rica real estate.

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