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Costa Rica: 2013 Real Estate Trends

Article Summary:

Real estate market trends in Costa Rica for 2013 have confirmed a trend toward mixed-use projects with spaces for various uses, especially commercial, residential and office space.

Photo Credit: Destination 360

Original Article Text From el Financieror Costa Rica via Google Translate :

Projects under construction in the GAM

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.

Link to Original Article:

From el Financieror Costa Rica

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