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Buying Real Estate on the Booming South Pacific Coast
The Investment Potential in the Undeveloped South Pacific
Having not been south of Quepos for so long, the only thing that I had in my mind was a "bad" road, some very rickety bridges and a lot of beautiful, virgin jungle, that seemed to primitive to be a destination, much less a full time place to live or invest. Much to my surprise, once we had reached the newly graded road (rumor has it that this road is being worked on and will be completed very soon,) just south of Quepos, I began to see that this area has clearly been discovered and is being developed for foreigners to come and create their dream of paradise, through a variety of landscapes.
The first area that we encountered, as we drove along the Costernera, which is the name for the coastal highway, was a development called the Hills of Portalon…this was an upscale, hillside community, above the little town of Portalon, where people can invest in larger parcels for equestrian home sites. It was very interesting to see the hills, dotted with large, newly built homes, making us wonder what the rest of the coast was going to be like.
Next, was the town of Matapalo…this area is a nice, medium sized Costa Rican town, that seems to be growing more popular by the week. None of these areas are what most foreigners would consider, urban, but they are increasingly growing, offering services, supplies and shopping centers that will one day become the local resources for the new influx of entrepreneurs and investors.
As we drove down the coast and approaching the section of the Costernera where the Pan American Highway intersects, the jungle becomes more apparent to the eye and the road starts to get closer to the Pacific Ocean. At the intersection of these two major roads, the Costernera becomes a paved, expressway, which extends into the Osa Peninsula, going toward Panama. The areas that have already, clearly been affected by this super highway are Dominical, Uvita and Ojochal, which are growing rapidly. Below these areas, going toward Puerto Cortez, will eventually be boom towns, once there is confirmation that a new International Airport will be started in the Puerto Jimenez region. There is an airport now, but it is for small, commuter flights, originating in San Jose. Real estate prices in this area are already feeling the impact of the anticipated international airport and consequent development, for tourists and settlers, alike.
The above mentioned areas of Dominical, Uvita and Ojochal are really expanding. It would be a mistake for anyone to believe that these towns aren't good real estate investments or will not continue to grow in both real property appreciation, business opportunities, plus personal services to the burgeoning tourism industry. There seems to be a wonderful, community spirit and an openness to anyone who wants to invest their time, money or energy into this tropical paradise located in the southern pacific zone of Costa Rica.
All it takes is a desire to escape your present lifestyle and accept the adventure that is available in this area of the world. The real estate development potential seems to be a signpost of the future, and the opportunities are unlimited for the person who is looking for both a lifestyle change and a good investment opportunity. While investing in other countries does have it's appeal, if you live in Costa Rica it may make sense to invest in more real estate in Costa Rica from logistics point of view
Article by Dale Green
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