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While not a lot has changed as far as foreign buyers purchasing real estate here in southern Costa Rica in 2011, I have noticed a definite increase in the nationals buying confidence again. Banks are finding themselves in the dilemma of holding on to cash or lowering interest rates and get it moving again.

For a U.S. economy I know the interest rates here are still a joke, but for here they are at an all time low. Ticos' are as tired of hearing negatives about the economy as we all are and with a drop in interest rates, (and after all, we've all survived so far!) the national's are cautiously proceeding with local investments in real estate again.

 

Just this year I have sold 6 of an 8 lot subdivision about 7 kilometers out of San Isidro in a little community called MiraValles and as you can see in the pictures we are already building the first home there. We have been selling 2.5 acre plantations www.paradisecoffeeplantations.com to a national niche at a steady clip this year as well.

 

So in conclusion I believe that with the locals regaining confidence again it will only be a matter of time until foreigners will too. I have always said that what a local is willing to pay is the best thermometer that, the price is right, the time is right and that it's a good investment!

Nat Yoder

P.S. I hope to include an article in the Nov issue about the first golf course and a 5-star mountain resort coming to San Isidro real soon! We will keep you posted!



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