[slideshow]Many of the people looking to make the move and escape to Costa Rica, especially those interested in the coastal areas, are looking for a lifestyle change. People are looking to make investments that can reflect who they are and how they are planning on living their life. The problem many people run into when looking for that lifestyle-changing investment is that Costa Rica, being popular for foreign investors for years, is safe, beautiful, with well-preserved national parks, and the prices are not always what they had imagined. The prices of real estate in Costa Rica also do not reflect the base concepts for real estate investment.
Prices begin to run on the high end, naturally, in the very popular areas such as Manuel Antonio and Escazu. Two bedroom condos on Jaco beach, on average, are in the $350,000 price range, varying substantially depending on the project, size, and location. Please note that these prices are high because land values are high and the concrete construction demanded in the tropics is expensive.
It is very hard to get ideal lifestyle facilities lie large pool areas, gyms, barbecues, and great locations anywhere under $250,000 on the beach or within walking distance to the beach. The one project, which continues to have sales and expand upon the vacation rental program, which was promised and now is in full swing, is Costa Linda. Costa Linda features condos starting at $165,00 with all the bells and whistles. Costa Linda is located only a shirt, 1 block walk to the North end of Jaco beach.
Jaco beach remains one of the most visited areas on the Pacific Coast of Costa Rica. With the new highway and close, quick access to San Jose, not only does the area still have investors and vacationers from the U.S. and Canada, but the area is experiencing an influx of investors for commercial reasons, vacation condos, and homes from the Nationals of Costa Rica.
This has allowed the real estate market in Jaco to keep its head above water and even allowed the area to move further with development. Currently on the main drag through Jaco, you can see at least 3 buildings under construction, which will feature new amenities the town can enjoy.
Another positive sign, the rental numbers for the area are on the rise. The North end of Jaco beach, where Costa Linda is located, is where the actual beach is at it’s widest. Walks along the beach at this point can yield views of some spectacular rock formations and unspoiled wildlife. There are rarely crowds of people on this part of the beach, and you can really enjoy the taste of the salty breezes, the sound of the waves lapping the shore, and get some quiet tranquility. This is Jaco Beach at its best.
The location of Costa Linda is only a 2 block walk to the busy central area of Jaco, where clubs, restaurants, and shopping are all to be had. One of the most important objectives in selecting a real estate investment is location. Everyone has heard the old adage Location, location, location a million times when it comes to real estate. During boom times, many people built developments in areas where no interest existed prior. Their development approach was If we build it, they will come. The good news to those few developers who got involved early enough in the boom, is that many investors and buyers put aside that location, location, location advice and did, in fact, purchase in these developments.
The bad news for both those buyers and the developers was, and is, that most of these developments had a difficult time fulfilling, and many times did not fulfill, the promises they made about amenities and further phases of development, which would have theoretically brought more value to the area, because they didn’t have further sales.
Now those same developments can’t produce vacation rental incomes, which the property was supposed to produce when finished because travelers don’t have an interest in that area. Nowadays, when the market is very real and fiercely competitive for sellers, a property’s location has proven to be key. Only the developments with prime locations still have sales and are producing rentals (which, of course, creates income for the owners) and have completed the promised amenities and phases of development.
It is the combination of location, actual product, and price point which comes into effect when making a solid investment. In any market, that means it is a sellable asset, as well as an asset which can pay for itself and even, potentially, create a return on investment via rentals or appreciation. Having a sellable asset is an asset that the current general market can afford.
When looking at properties during the boom, there were a substantial amount of people who were confident in making investments abroad, and who had the access to cash resources via refinancing in the U.S. At that time, there were more high rollers with access to cash and people with large incomes ready to invest in Costa Rica. Therefore, a condo that was a great deal at $850,000 had a number of buyers. Now, even if a condo is an incredible deal at $850,000, it might still be a substantial period of time before a buyer comes along looking for that specific investment and has that kind of cash.
Costa Linda is one of the only projects with a steady stream of buyers because it foresaw the lack of affordable vacation and retirement condos in the market and filled it in. They also had the forethought to secure financing for future investors. They are currently providing financing with 30% down and 6.5% interest. That means that buyers can still get a condo for approximately $200,00, which is a prime piece of vacation real estate in one of the hottest areas on the Pacific Coast of Costa Rica for $60,000 down and payments of under $1000 a month.
These are numbers which can appeal to a much larger percentage of people looking to invest in Costa Rica. This is one of the biggest reasons, along with the actual product and its amenities. Costa Linda remains a success for its past investors and will be successful with future investors. It is a sellable asset. As far as rentability is concerned, vacationers are looking for the close distance to the beach and town, as well as all the in-house amenities, such as pool areas, playgrounds, and the actual living space. Costa Linda has it all.
Here, investors and renters alike experience suite style bedrooms with a full granite counter kitchen, comfortable living room, and balcony to enjoy the tropical sunsets. Due to the affordable purchase prices and condo dues, the owners are able to rent their condos out for a far more reasonable value than probably 90% of the new construction condos in the area. At the same time, the owners are making a nice income that does not completely undercut the purchase price that they paid.
To help keep the current momentum or potential investors coming to the project, potential buyers currently can get a two nights free stay in one of the condos for simply for making the trip to come and take a look at Costa Linda, and they can also receive up to $1500 credit for travel expenses if a purchase is made.
Costa Linda is on the right track to keep investors coming to the Central Pacific!
For more information, visit Costa Linda Jaco Beach Condos information site. If you would like to talk to an agent right now, you can call 866-403-1345