• Highway rises land price
Value increased 25% to 60% in sites, farms and villas near Caldera Highway.
The owners of land surrounding the newly opened road to Ciudad Colón-Orotina are fit for happiness.
The price of property increased by 25% and 60%, although in some areas increased to 100%, according to a survey done by EF Realtors.
For example, the properties facing the road have experienced an increase of 30%.
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More: El Financiero
• Costa Rica tops list of 'happiest' nations
(CNN) -- Forget Disneyland! Costa Rica is the happiest place in the world, according to an independent research group in Britain with the goal of building a new economy, "centered on people and the environment."
In a report released Saturday, the group ranks nations using the "Happy Planet Index," which seeks countries with the most content people.
In addition to happiness, the index by the New Economics Foundation considers the ecological footprint and life expectancy of countries.
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More: CNN
• Costa Rica tops happiness, 'green living' poll
SAN JOSE (AFP) - Costa Rica is the happiest place on earth, and one of the most environmentally friendly, according to a new survey by a British non-governmental group.
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More: Yahoo News
• First section of asphalt going down on the Costanera Sur
By the A.M. Costa Rica staff
Asphalt work has started on a section of the costanera Sur., the vital Pacific coast highway that has been promised for three decades.
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• Good Weather in Costa Rica During Global Financial Storm
By Jeffrey Hickcox & Michael Anthony of Ameurope Global Services
The Global Financial Crisis, as it is being called, is clearly the number 1 topic of discussion. Economists and politicians have weighed in from all sides to paint a universal picture of despair. However, one economist, Peter Schiff, accurately states, "There is always a bull market somewhere." There is mounting evidence that Costa Rica is that 'somewhere' and one would be wise to look at the fundamentals of why Costa Rica maintains a strong position amid global weakness.
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• (No) Drill, Baby, Drill
Sailing down Costa Rica’s Tempisque River on an eco-tour, I watched a crocodile devour a brown bass with one gulp. It took only a few seconds. The croc’s head emerged from the muddy waters near the bank with the footlong fish writhing in its jaws. He crunched it a couple of times with razor-sharp teeth and then, with just the slightest flip of his snout, swallowed the fish whole. Never saw that before.
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More: The New York Times
• Costa Rica lures new wave of retirees
By The Miami Herald
Published: Monday, November 17, 2008 at 1:00 a.m.
Last Modified: Sunday, November 16, 2008 at 3:48 p.m.
SAN JOSE, COSTA RICA -- Shielded from the equatorial sun beneath an umbrella, Jim and Carol Lynch reflect on their unusual decision to move from the small town of Fayetteville, Tenn., to a suburb of this Costa Rican capital.
"Look around you, man," Jim Lynch says. "This place is beautiful."
They are among a small but growing cadre of baby boomers for whom Latin American countries with communities catering to gringos are becoming the new Florida, or at least, what Florida meant to previous generations.
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More: The Miami Herald
• Caldera in Site! The San Jose-Caldera project will finally be a reality.
Truck loads of stone, tractors and backhoes that are moving dirt, frequent traffic detour, widening streets, blowing up structures, and a trail of red dirt that little by little transforms into a highway…. The San Jose-Caldera project will finally be a reality.
It will take 45 minutes less than it normally does to get to Puntarenas. You will get to the port of Caldera in approximately an hour an ten minutes. If you compare the highway with the actual route, either the Aguacate or Cambronero, it will have less cliffs. You will also run into a series of different services like automatic toll booths and rest stations.
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More: La Nacion, Nov. 16 - 2008
• Costa Rica's economic outlook improves
Citing the Costa Rican government's declining debt burden, Standard & Poor's Ratings Services (S&P), one of the big three credit rating agencies, raised its outlook on Costa Rican government debt to positive from stable, according to S&P.
Credit ratings measure the risk of default of particular debt issuers, in this case the Costa Rican government. Other thing being equal, the lower the risk an issuer will default on its debt obligations, the lower the interest rate it will need to pay to borrow from markets.
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More: The Tico Times
• Costa Rica Real Estate Investors Market Update
Costa Rica Real Estate Investors Market Update - Finance Minister says Costa Rica is in a "very strong and very favorable" financial position.
President of the central Bank of Costa Rica - Francisco de Paula Gutiérrez
1. In looking at Costa Rica's balance sheet, you will quickly see that according to the country's Finance Minister Guillermo Zuniga, Costa Rica is in a "very strong and very favorable financial position.
2. Costa Rica is enjoying a budget surplus.
3. Imports and exports are only declining slightly.
4. Costa Rica is less reliant on the USA than we have ever been.
5. Not only is Costa Rica in the best financial condition its been for over a decade...
6. Costa Rica's banks are also in very good shape.
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• COSTA RICA, a Paradise for foreign investment
Costa Rica stands out for its economical and political stability, sound democracy, and transparency on public institution processes. A quality educated system and qualified human resources availability. The facilitation for foreign investors and the access into markets through regional trade are some of the advances factors that Costa Rica has achieved by having a privileged lace with one of the friendliest business climates and as one of the main destinations for freeing direct investment (FDI) in Latin America. Gabriela Llobet, general director of the Initiative Coalition for Development (CINDE) says that “Costa Rica has become the fourth nation in Latin America that entices the most FDI per inhabitant only overcome by Panama, Chile and Uruguay and has positioned above large economies like Mexico, Colombia, Argentina, Brazil and Venezuela”.
Moreover, high tech-sectors such as modern manufacturing, services, and medial devices where Costa Rica hosts more than 150 multi-national companies among several worldwide leading companies.
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More: The Central America Times
• Amazon in Costa Rica
Amazon, one of the world’s largest on-line retailers, will be opening a new customer service and call center this November in Heredia. A Director of Customer Service for Amazon has affirmed, “Costa Rica has developed a great infrastructure that complies with our needs and has become the base of operations for other large call centers. Our center in Costa Rica will permit us to continue serving our clients in a fast and efficient way”.
More: La Nacion, August 12, 2008
• National Chamber of Tourism Report
The National Tourism Chamber reported last week that the number of tourists grew 12% during the first half of the year compared to the same period last year, with more than 1 million foreign tourists visiting the country.
More: The Tico Times
• S&P Turns Bullish on Costa Rican Debt
Citing the Costa Rican government´s declining debt burden, Standard & Poor´s global credit ratings services raised its out-look on Costa Rica government debt to positive from stable, according to S&P.
Credit ratings measure the risk of default to particular debt issuers, in this case, the Costa Rican government. Other things being equal, the lower the risk an issuer will default on its debt obligations, the lower the interest rate it will need to pay to borrow from markets.
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More: The Tico Times
• Canadians save the Day
Forget U.S. baby boomers. New buyers are in town: Canadians.
Several real estate brokers with offices along the Pacific Coast -prime beachfront property- said Canadians increasingly are replacing U.S. buyers.
¨ (The real estates market) flattened out in, like, October last year then… all of a sudden, the Canadians came back into the market¨, said Don Powell, a RE/MAX sales agent in Tamarindo.
Fewer U. S. buyers, spooked by the looming recession and credit crunch, are gobbling up beachfront property. The U.S dollar also has not fared well against other currencies, including the Canadian dollar.
An ERA real estates representative in Guanacaste said their customers used to be an even mix of U.S. and Canadian buyers. Now, Canadians head the pack.
More: The Tico Times
