According to the leading real estate agency CRREC, Costa Rica has become a hot-bed of activity with baby boomers migrating to this tiny Latin American nation in pursuit of an affordable cost of living that includes world-class healthcare and many other attractive benefits.
Tamarindo, Costa Rica (PRWEB) August 06, 2013
“Nearly 10,000 baby boomers will reach retirement age in the United State every day for the next 19 years. The stampede of retirees looking for a warmer and cheaper place to live will target the friendliest and most stable democratic tropical countries,” says Jerad Portner, Sales Manager at CRREC.
The leading edge of this surge is clearly represented in the growth in tourism in Costa Rica. According to the ICT (Instituto Costarricense de Turismo), the industry will increase the number of hotel rooms by 1,309 by November of 2014.
While this increase in tourism also reflects the impact of businesses within this thriving sector fully embracing eco-friendly pastimes and a sustainable tourist industry that attracts families and solo-travelers, it also is a reflection of the expanding scouting force of boomer retirees looking for a friendlier climate to spend their retirement years. As an increasing number of boomers experience Costa Rica, more and more of them will want to dig their toes into the sands of Costa Rican beaches.
The slight hit that the economy of Costa Rica took during the international economic downturn was not as significant as that felt in the United States but the slight dip in property values here is now creating the ideal real estate market that will attract the massive number of retirees that want to sell their properties in the US and bring their retirement income to Costa Rica and buy a retirement home here.
With each new peak tourist season in Costa Rica a new wave of first time retired visitors and eager returning retirees make their way to the beaches like turtles looking to lay their eggs. Property values in Costa Rica have been among the most stable in the world, even during the latest economic downturn. And the only direction property values here are heading is up as the influx of new buyers help amplify this trend.
The values of Costa Rica properties, even in the short term, are a wise move as indicators like the anticipated 2014 GDP growth in Costa Rica exceeds that of the US. An economy that is rebounding faster than the US economy makes the stability of property values look good in this tropical paradise.
As the housing market in the United States rebounds and the cost of living rises in a recovering US economy those who are ready to retire must look at the economic realities of selling their US properties on the high cycle and purchasing a home in Costa Rica before a strong up cycle hits local real estate prices.
Homes in Costa Rica can be priced very reasonably. There are still homes available within walking distance of beautiful beaches for under $200,000. But waiting is not the best idea at this point. Prices will be rising due to both the influx of US retirees and the recovery the Costa Rican and global economies.
The lure of tropical paradises like Costa Rica may be initially founded in romantic views of the tropics and a tropical lifestyle but the romance is not far from the truth. The milder climate takes both the stress and bite out of life as it goes in more temperate northern climates. Real relaxation for those who choose to retire comes when you don’t have to worry about getting the oil tanks filled for the first blast of winter and to make sure everything is protected in time for the freezing weather that will surely hit.
The US states with milder climates have already been hit with the initial baby boomer rush pushing up prices beyond levels many can or want to pay. While real estate there has lost value the rebounding economy will sooner or later bring prices to where they were.
As the retirement tidal wave hits Costa Rica and independent retirees pump their money into this economy, secondary businesses will blossom and flourish creating even greater upward pressure on real estate prices.
Whether you are a retiree or a property investor it is time to consider browsing the catalog of affordable Costa Rica homes for sale before the growing movement of people to this wonderful tropical climate pushes property prices higher.
Source / Fuente: prweb.com
Author / Autor: prweb.com
Date / Fecha: 06/08/13
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