By Mike Hardy
The stats are in, the National Associatioin of Realtors(NAR) is reporting a 10.1% increase in vacation home sales for 2012 and accounted for 11% of the home sales nationally. There is a clear recover occuring in the states as buyers are taking advantage of prices that are on average 36 percent below prices in 2005, according to NAR. Many investors are turning towards real estate as bond and money market yields are low and many are cashing out of the stock market and investing in real estate. All the stats show that the vacation home market reached it’s low and is now in recovery mode.
What does this mean for Costa Rica and Los Suenos Resort? Good news for us as we know that our demand directly tracks what is happening in the states. Histors has demonstrated that all market changes in North America lag about one year behind here in Costa Rica so we can expect sales to start moving here this year. So we are expecting the U.S. buyers to come back strong this year and we will continue to see a strong local market push sales as well. Los Suenos’ proximity to the Central Valley makes it an ideal destination for locals and foreigners.
There has never been a better time to purchase in Costa Rica, contact me today to learn more