Industry: Real Estate Construction is up 3%
Friday, August 21, 2020
From January to June of this year, the constructed area of warehouses and other industrial properties in Costa Rica increased by 58,273 square meters compared to the same period in 2019, which is equivalent to an annual increase of 3%.
Colliers, a firm specialized in real estate, informed that as well as the built area, the availability of spaces in the Costa Rican market also increased. The study specifies that as of June of this year the space of industrial properties without renting was located in 221,156 m2, which is equivalent to a 50% increase with respect to what was reported in June 2019.

Check out the "Feasibility studies of real estate projects" that we carried out at CentralAmericaData.

In the case of the industrial construction inventory, the report called "Real Estate Market Outlook: Industrial Division Q2 2020" details that between the second quarter of 2019 and the same period of 2020, the total area increased from 2.22 million m2 to 2.28 million m2.

You may be interested in "Real Estate Supply: How do Prices Behave?" reviews that "... According to Colliers' research, most of the industrial construction inventory of the Great Metropolitan Area (GAM) is located in Alajuela (46%) and Heredia (26%), which represent 72% of the total. Cartago is the third location with the largest number of warehouses, as it is home to 12.6%."

Pablo Fernandez, general manager of Colliers, explained that "... the effects of the pandemic already have some reflection in the second quarter of this year, although this real estate sector remains healthy."

Thanks to the measures taken by the administrators and owners of the industrial complexes, up to now the impact has been controlled, the specialist said.

Reports from CentralAmericaData state that during 2019, 56 environmental impact studies were presented in Central American countries for the construction of industrial plants, and Costa Rica concentrated 58% of the estimated investment.

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Costa Rica: Industrial Real Estate Market up to December 2016
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Key entities
Colliers Costa Rica
Costa Rica
Real Estate Infrastructure & Construction
industrial facility
industrial investment
industrial sector
industrial park
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