Why Brexit Has Boosted Costa Rica Property Demand
The Latin American Gallery, a new Latin American property specialist has just been launched, highlighting growing demand for Costa Rican real estate which has risen 20% in the last 2 months. The Latin American Gallery is the first property consultancy in the United Kingdom to specialize in high-end Latin American real estate and travel destinations. Their aim to is to bring sound investments of high standard properties in new locations for the UK market, according to founder Alejandro Romei.
Since 2002 Costa Rican property demand has been on the rise internationally with a slight stall due to the 2008 world financial crisis. American Baby Boomers were at the forefront of this demand, looking for a quieter pace of life, a lower cost of living, and proximity to untouched nature and beauty. About five years ago, Brits began to take notice of Costa Rica and thanks to the low cost of exceptional health care and the ranking of the Happiest Country in the World by the Happy Planet Index in both 2009 and 2012, the demand for Costa Rican real estate was on the rise again.
With European airlines, including British Airways and Thompson Airways adding new flight routes to and from Costa Rica, ease of access began to increase and the emerging market has seen lots of investment and improved infrastructure over recent years. Another reason as to the rise in British investment in Costa Rica is the recent Brexit result. As the British pound continues to become unstable, more and more Brits are looking to invest in stable foreign markets and Costa Rica has enjoyed a healthy history of stability ever since abolishing its army in 1948.
The sound education system in Costa Rica also brings a vote of confidence for British investors as a country with a healthy education system means a country with an educated and informed populace. The country’s strong health care system is also a major selling point for Brits looking to invest aboard at sound and stable countries.
The Latin American Gallery is offering fully managed luxury turnkey properties that owners can live in year round or rent out to tourists. These luxury properties are located in the Guanacaste Province, the most popular destination for tourists with the shortest wet season and fantastic weather year round. Luxury condos in the Playa Flamingo beach community are starting at just $899,000. The resurgence in Costa Rican property values since the 2008 global financial crisis has continued and the commonly accepted view is that the country will see more and more international investors, lessening the country’s dependence on US investment over the coming years. Investors who purchase luxury turnkey properties through The Latin American Gallery have the option to rent out their properties throughout the year with complete support and maintenance through rental companies provided by The Latin American Gallery. This is the perfect opportunity to combine a lifestyle buy with a long term investment where investors can turn a profit.