Real Estate Market in Costa Rica in June 2013
Monday, November 4, 2013
2013 has confirmed a trend toward mixed-use projects with spaces for various uses, especially commercial, residential and office space.
The commercial property market has shown an increase in supply of 9.8%, totaling 884,135 m². Among the activities that have contributed the most to the dynamism of this market is the opening of fast food restaurant chains and projections are that it will continue to increase.

"Neighborhood Centers" continue to show steady growth in supply and go hand in hand with the expansion strategies of convenience stores, pharmacies and other businesses interested in locating their outlets near the residences of their customers, states a commercial real estate market report by Colliers International.

"The entry of property under the category of "Regional Center" in late 2012, has led to a re-arrangement of the sector with some migrations, renovations and improvements to existing complexes ...". A large percentage is rented while still in construction stage.

Rental prices of the Regional Centers properties are located at between $15 and $45 per square meter, while for the Neighborhood Centers prices are between $17 and $21 per m. The Community Centers have prices ranging from $18.50 to $30.
Source: elfinancierocr.com
Source: elfinancierocr.com
More on this topic
Panama: Real Estate Boom in Suburbs of Capital
July 2014
The increase in residential real estate projects around the center of Panama City has doubled land prices in some areas in the space of five years.
The real estate boom experienced in Panama City can now be seen in the prices of residential projects in areas previously considered as "suburbs" where residential real estate developments are priced at over $80,000.
Commercial Real Estate Market in Costa Rica
February 2014
There is Increased investment in medium-sized commercial developments in the vicinity of residential areas.
Changes in people's habits, looking to cut commuting time from their place of work to their homes is influencing the investment decisions made by real estate developers who are focusing on building medium sized malls (between 1,000 and 5,000 m), located in the vicinity of residential areas and at high traffic points.
Costa Rica: Office and Store Prices in Mini Cities
August 2013
Rent an office in a standard office building costs around $17.38 per square foot, whereas in a mixed-use development the price rises to $23.
This was revealed by a study by the real estate company Colliers International, who also explained that "when it comes to mixed use commercial premises, the average price recorded by the company reaches up to $28, whereas in other commercial centers the figure drops to $18.17 ", reported Elfinancierocr.com.
Land Values Up in Downtown San Jose
July 2013
The demand for housing solutions and commercial spaces in downtown San Jose has led the cost of land per square meter to rise to $1,200.
Nacion.com reports: "Mata Redonda, Merced, Catedral, Hospital and El Carmen have in the last three years represented half of the total square meters (sqm) for which there are applications for building permits. In this area, construction of houses and stores has the most dynamism ... ".
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