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Costa Rica Commercial Real Estate Market News and Information
This category has information related to commercial real estate in Costa Rica. Buying, selling, leasing real estate, plus expert advice and market conditions.
BCR Calls for Payment from Condo Owners
- Wednesday, 07 March 2012 01:00
- Last Updated on Saturday, 03 March 2012 10:41
- Written by Rod Hughes
The news blog Top10CostaRica reported last week that Banco de Costa Rica (BCR) had cancelled the loan used to build a Moravia condo and had called on the owners for immediate repayment of its own.
The building was condemned by the Health Ministry as structurally unsound in a 2010 inspection, the blog reported.
Construction Finally Rebounds from Recession
- Tuesday, 06 March 2012 04:37
- Last Updated on Saturday, 03 March 2012 10:50
- Written by Rod Hughes
Finally, after at least three years in doldrums, the construction trades in the country are apparently rebounding from the worldwide recession. A Trimester Survey of Business presented last Thursday by the Costa Rican Union of Chamber and Associations in the Private Sector (Uccaep) revealed a definite upswing in the trade.
The survey covers the first three months of 2012. Construction Chamber head Gonzalo Delgado noted a definitely upbeat tone in constructors due to gains in such cantons as Alajuela, Escazu, Curridabat, La Union and Limon.
Southern Zone International Airport a Step Closer
- Tuesday, 28 February 2012 05:37
- Last Updated on Monday, 29 November 1999 18:00
- Written by Russ Martin
Today the official newspaper, La Gaceta published the terms for bidding on the contract for the environmental impact studies that would allow the government to clarify the possibilities of building an international airport in the Southern Zone.
Banco Popular Foreclosures Grow 500%
- Wednesday, 22 February 2012 01:24
- Last Updated on Monday, 29 November 1999 18:00
- Written by Russ Martin
According to information released by Banco Popular, the real estate for sale by the bank grew 5 times from 2009 to 2011. In December of 2009 the value of foreclosed real estate in the bank's portfolio was 2.221 billion colones, while in 2011 it was valued at 11.178 billion.
Sugeval Levies Fine against Multifondos
- Wednesday, 14 September 2011 05:23
- Last Updated on Monday, 12 September 2011 08:54
- Written by Rod Hughes
Buying buildings not yet constructed is costing the Multifondos SFI investment company 49 million colones in fines. SUGEVAL, the watchdog agency that is the equivalent of the Securities and Exchange Commission in the United States, ruled the firm in violation of finance law.
Multifondos general manager Antonio Perez defended the investment violation, claiming that Sugeval did not take into account that the buildings were considered agro-industrial land partly constructed.
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