Costa Rica Real Estate Magazine June-September 2020

NORTH PACIFIC

Photo by Allen Lungo

What has happened in these environments?

1) The government and utilities have invested in infrastructure - Most signifi- cant regional and local roads have been paved, electric power grids have been upgraded, and significant water projects are adding to existing resources in the most desirable, dry areas. 2) The Liberia Airport has been re- placed with a new, world-class structure, that immediately increased its capacity. It has already been expanded after just 3 years of operation of the new facility 3) Business and personal communi- cation has greatly improved. The avail- ability of fiberoptic internet service and speeds is now widespread, and cellular phone networks have been expanded and become much more reliable. 4) In spite of recent tax changes and increases, Costa Rica still applies very attractive rates to property-related taxes. The basic annual tax rate for non-luxury, titled property is ¼ of 1% of value. 5) The quality and availability of private schools has steadily increased. This has become a significant factor in attracting families to relocate to Costa Rica. Devel- opers now feature intentions to have a school within their projects as a market- ing asset.

6) The quality, affordability, and availa- bility of health and dental services has in- creased. In response to the influx of visi- tors and new residents, both the public and private healthcare systems in Costa Rica have expanded and added ser- vices. The government has announced plans to invest $42 million (USD) in new facilities and locations. Most private hos- pitals are adding Guanacaste clinics, ur- gent care centers, and other satellites in Guanacaste’s most active areas. 7) Global interest in Costa Rica and Guanacaste remains very high. The annual visitor volume to the country re- cently surpassed 3,000,000, and 52% of them came to Guanacaste. The historic trendline has been consistently positive. 8) Long-awaited projects of global in- terest are moving forward. The most significant is the development of a new, 211-slip, ocean marina in Flamingo, ap- proved by the government in late 2018, and expecting to be completed in 2022. In general, it can be seen, that the initial wave of interest in Guanacaste, created by the addition of the international air- port in Liberia, has rippled many times, and those activities have evolved to now support a stable, integrated economic foundation for long-term investment suc- cess in the province.

Photo by Allen Lungo

Photo by Irving Dávila

74 COSTA RICA REAL ESTATE MAGAZINE

Article from page 71