Capital: San Jose
Language(s): Spanish (Official)
Population: Abt. 4.30 million
Total Area: 51,100 km2
GDP (PPP): 2011 estimate
Total: $55.021 billion
Per capita: $11,927
Currency: Costa Rican colon (CRC)
Costa is a country in Central America, bordered by Nicaragua to the north, Panama to the southeast, the Pacific Ocean to the west, and the Caribbean Sea to the east. Real estate transactions in Costa Rica are typically quoted in US dollars. The Costa Rican colon (CRC) increased in value during 2010, from US$1=557 colones to US$1=493 colones, so real estate has become cheaper from the Costa Rican point of view.
San Jose, parts of Central Valley, the Central Pacific region and Guanacaste are picking up. Atenas in western Central Valley is becoming popular. "Gringo-style" homes are selling in Atenas, especially modestly priced ones which do not exceed US$200,000.
The improvement in housing demand has boosted construction and the mortgage market. Private construction rose 0.7% y-o-y to February 2011 – the first private construction index rise in 25 months. Housing loan volumes also increased 6.38% y-o-y to February 2011.
Costa Rica has some of the best housing stock in Latin America. Less than 10% is considered to be in bad condition. 74% the total housing stock is owner-occupied, and 17% is rented.