CURRENT NEWS

JULY 31/09 Costa Rica Offers Good-Quality Health Care

Costa Rica has universal health care, one of the best health systems in Latin America. As always with nationalized health care there may be waiting, but the quality of Costa Rica's health care is excellent. Affordable private health care is also available, very affordable, and high quality. Many doctors speak English and have received training in Europe, Canada, or the U.S. There are three large, private hospitals that most expatriates use: CIMA hospital in Escaz, Clinica Biblica in San Jos, and Clinica Catlica in San Jos-Guadalupe.

Statistics from the World Health Organization frequently place Costa Rica in the top country rankings in the world for long life expectancy, often even ahead of Great Britain and the United States, even though the per-capita income of Costa Ricans is about one-tenth that of the U.S. and the U.K. Arguably, one reason for this is the slower pace of living in Costa Rica. And, of course, the healthy, fresh, non-preservative-laden foods found there, and the welcoming tropical climate. Costa Rica just seems to be a healthy place to live.

A full range of cosmetic and reconstructive procedures are available in several modern clinics. With the addition of contemporary laser technology, the ability of Costa Rica's plastic and cosmetic surgeons to provide world-class services has been enhanced. Prices are sometimes 50% lower than in the United States, but it is important to note that each case is different, and prices are quoted on an individual basis after a consultation.

From simple fillings to complicated multiple implants and periodontal work, Costa Rican dentists are as qualified and skilled as dentists anywhere--and prices are far less than most anywhere else. This is another growing area of health tourism--foreign patients seeking dental work arrive in Costa Rica in greater numbers every year. Laboratory work, too, is much cheaper in Costa Rica, and materials used are all FDA-approved and imported from the U.S

Source International Living Website http://www.internationalliving.com/Countries/Costa-Rica/Health-Care

Another of the many multi millionaires who are buying Costa Rica real estate, even in these times, they seem to know of what is to come. Demographics show that 85 million US boomers will be retiring in the next 10 years, there will be much more interest here as this is the biggest population of US expatriates in the world and has so many benefits that will not escape those who do their homework.

Why Is Well Known US Real Estate Investor Henry Kaufman Investing Millions In Costa Rica Real Estate In 2009? Written by Scott Oliver

One of Henry Kaufman's most recent real estate investments was in 2006 when he bought a third of downtown Tulsa, Oklahoma for a little over US$100,000,000

Henry Kaufman has made a fortune investing in distressed real estate but he made it crystal clear that he does not anticipate making the same kind of very high returns typically associated with "distressed" real estate investing in Costa Rica because he does not believe that Costa Rica real estate is at all "distressed".

In fact, Mr. Kaufman is clearly impressed that Costa Rica real estate prices have remained so stable whilst so many other real estate markets are plummeting in value. For the average Joe who sits there on the sidelines always waiting for his ship to come in, the fact that Henry Kaufman is investing millions of dollars in Costa Rica real estate is probably not 'news.'

But, when sophisticated real estate investors - who are accustomed to making serious money while the average Joe remains on the sidelines - see that a real estate investor like Henry Kaufman is investing in Costa Rica real estate, it is very, very good news because it tends to give a little push to these people who then start buying...

You can of course sit there and do nothing if you wish, however, if you have been waiting patiently for an opportunity to invest in Costa Rica real estate - or buy a home for your well deserved retirement - may I humbly suggest that you don't wait around too long because although this kind of news may take a while to bounce around the world, once it's been read a few times and totally digested, prices in this very attractive area will most likely be going higher!

The video interview between Scott Oliver and Henry can be found if you sign in to the www.welovecostarica.com website.

This video interview will be posted somewhere around August 5 2009 , the questions to be discussed include:

1.In your long and clearly successful investing career, you've often been a bit of a contrarian with your investments and it's been written that you are not presently invested in real estate or securities in the US or in Europe so why invest in Costa Rica real estate?

2.What would you say are the major attractions in this area for Americans thinking about living and retiring abroad?

3.What's the overall concept behind this particular project that you are investing in?

4.In your opinion, what is the biggest mistake that people make when investing in real estate?

5.What sort of return are you hoping to achieve with your real estate investments in Costa Rica over what period of time?

Source: www.welovecostarica.com article and interview by Scott Oliver

The Liberia airport is less than a 1 hour drive from Potrero. This kind of infrastructure development, and increases in tourism, precedes property value increases in the Gold Coast area in the near future.

According to the contract, $35 Million USD will be invested in the design , construction, maintenance, and operation of a new passenger terminal.

An annual growth rate of 20% in tourist visitation via the Liberia airport has forced the Costa Rican aviation officials to build a new terminal to meet the demand. The new facilities will have a capacity for 1500 people, while the current terminal can only accommodate 900 passengers. Additionally the runways and parking platforms have been improved with $654 Million USD for exterior projects. The improvements and expansion will allow 11 planes on the parking platform instead of 4 planes.

The contract was signed at the same time that an announcement was made regarding the fact that the Liberia airport will welcome new charter flights from Canada, Belgium, the United Kingdom, Germany and possibly Spain during the second half of this year.

Source The Journal, July 2009

JULY 24/09 Costa Rica to invest $68 Million US for potable water supply system for Guanacaste

This means that the region will experience accelerated growth and increased property values in the near future. Many developments in areas such as Playa del Coco have stopped due to lack of water.

AYA (Instituto Costarricense de Aquaductos y Alcanteries , or the National water board) announced the Governments plans on developing a $68 million USD potable water system for Guanacastes main towns and beach areas, including Potrero. This news was announced on the anniversary of the Annexation of Guanacaste; also know as Independence Day, celebrated July 25. The local aquifers, the Corobici river, and canal system from Arenal will be developed to bring water through a new pipe system and treatment plant that will have a volume of 1 cubic meter per second .The coverage of this project is to be the largest in Costa Rica supplying potable water for 35 communities and over 55,000 people.

Source El Sabanero July 2009

Costa Rica has been effected by the downturn in the world economy, however they have not fallen far compared to the large economies of the world and they will, as predicted, pick up quickly as tourism and investment returns due to some of the reasons listed in the quoted articles below.

Central America chooses to look at the recession through rose tinted glasses. They are posing the curious question: If Central America goes backward slower than the rest of the world, isnt that the same as a relative gain?

Now economists from the World Bank to the Economic Commission for Latin America (CEPAL) are predicting Latin America will recover faster than other regions of the world. That is most likely due to factors more complicated than optimism, but a cheerful disposition never hurts.

Source Tico Times, Perspective by Tim Rogers, July 10 2009

If health and happiness is more important than money to you, this is good news, the food, climate, and lack of negative factors such as stress, fast food, and air pollution, combine to make this a true paradise for retiring and investment.

National Geographic and Quest Network qualify Blue Zones as the places in the world where people live longer, healthier lives than anywhere else in the world. Last year the Costa Rican Nicoya peninsula was named one of the six known Blue Zones in the world by US scientists studying why people in Central America live longer than in Europe and the United States. As Guanacaste becomes known for its surf beaches and upscale resorts scattered along the coastline, the visitor should think of moving to this fabulous climate and the benefits of relocating to the Costa Rican Blue Zone. Forest covered mountains and farmland spread over most of the peninsula where Nicoyans live happy and healthy lives eating a flavourful diet abundant in fruits, vegetables and corn tortillas, drinking nutrient and mineral rich water and, most importantly, enjoying the unique dry tropical Pacific climate.

Source Tico Times, http://www.bluezones.com

This is one of the most important factors when considering a third world country for investment or retirement, this kind of news will continue to support the future boom in retirees to Costa Rica, already the largest community of Americans outside of the USA.

Costa Rica is number 47 among 207 nations, as shown in a study by the World Bank Institute (WBI). Costa Rica stands out as the country in Central America that does the best job to mitigate insecurity. Of the regions countries Panama is in second place ranked 104, El Salvador is next as 118, then Nicaragua on number 135, Honduras as 145, and finally Guatemala as number 156.

It was also qualified as the leader nation in Latin America, in the ranking of competitiveness and tourist appeal, according to the World Economic Forum (WEF)

In the report of the WEF, Costa Rica ranked number 42 out of 133 nations and the highest in Latin America, over Brazil 45, Mexico 51, Panama 55, Chile 57, Uruguay 63, and Argentina 65. This document considers that security is the factor that plays the most significant role on the evaluation and loss of appeal of the region

Source The San Jose Post, April 24 -09, World Bank Institute, World Economic Forum

More good news about the quality of life and the happiness of the locals , all these items add up to Costa Rica being a quality place to live and invest with great potential for substantial equity growth.

Costa Rica is the happiest place on earth, and one of the most environmentally friendly, according to a new survey. The New Economics Foundation (NEF) looked at 143 countries that are home to 99% of the earths population and devised an equation that weighted life expectancy and peoples happiness against their environmental impact. Latin America did well occupying 9 of the top ten spots. Australia came in at 102 place, as other western nations did poorly, with Britain coming in at 74 and the USA at 114 th.

The NEF measurements found Costa Ricans have a life expectancy of 78.5 years, and 85% of the countries residents say they are happy and satisfied with their lives.

Those figures along with the act that Costa Rica has a small ecological footprint, combined to push the small nation to the top of the list.

Costa Rica has a peaceful reputation because it has no army, and is also known for its protected ecological zones and national slogan pure life.

Source Tico Times

Word is out and the world is realizing how great a country Costa Rica is, as study after study show its high rankings, another factor in the coming real estate boom.

The environmental efforts developed by Costa Rica placed it number 5 on the list of the cleanest countries of the world, according to Forbes magazine.

The distinction came after the Environmental Performance Index (EPI) of the year 2008, done by scientists of Columbia and Yale Universities, in 149 countries. The study analyzes environmental practices on water and air quality, and on natural vitality among others.

According to Forbes the Costa Rican economy is based on a robust eco-tourist industry which is benefited by private and government actions that protect biodiversity. The magazine points out that the country could improve the index if it achieves its initiative of becoming, in the year 2021, the first nation with neutral carbon balance: C-Neutral.

Forbes also highlights that Costa Rica has been efficient in avoiding an increase in tree cutting, and that it also achieved a score of 97, in forestry, air pollution and climate change categories.

In total, the country got a score of 90.5 points out of 100. It is surpassed only by Switzerland 95.5, Sweden 93.1, Norway 93.1, and Finland 91.4.

Source: San Jose Post April 24 2009, Forbes magazine

What this means for our development is there are really two tourist seasons, the dry season Dec May , and the Mid year June- August. Rental incomes for 8-9 months of the year will provide a good return on investment to those who want to rent their units or lock outs

According to the National Chamber of Tourism (CANATUR) this vacation season

( June- August) is expected to help beach and mountain hotels increase their reservation and occupancy levels. Studies conducted by this business group in the past has shown that the most visited regions during this time of the year are Jaco, Northern Guanacaste, Puntarenas, La Fortuna, and Monteverde.

Regarding where foreign tourists who visit Costa Rica come from, the average data from the last 3 years indicates that 43% are from the USA, 26% from Central America, 16% from Europe, and 5% from South America.

This is due to the Costa Rican Tourism Institute (ICT) and CANTUR campaigning and establishments offering packages and promotions- as tourists in the current economic situation seek quality service but also saving money.

Source The Journal, July 2009

The Multi Million dollar JW Marriot Hotel with the largest swimming pool in Central America has just opened near Playa Langosta, and the ocean front golf course at Hacienda Pinilla.

The $100 M Flamingo Marina has been awarded to the sucessfull bidder, construction should start soon. A Cruise Ship dock has been included in the plans for the Marina.

Road improvements , The road is presently paved to Flamingo. This dry season a road crew worked for months on the final 3 kilometers of gravel road from Flamingo to Potrero. They have widened, ditched, and built the road up with 12" of gravel. This is in preparation for asphalt paving next dry season I have been told. The paved roads from Tamarindo to Flamingo have all been upgraded and have painted lines and reflectors installed to the point of being better then the Pan American Highway. Thisis to be the Gold Coast Highway and will pass through Potrero on its way to Playa del Coco and Peninsula Papagayo.

Tamarindo is a mere 30 minutes drive from Potrero, in the future we see a similar event happening there where the waves and location is world class. The attraction of this unique dry tropical area will be soon noticed by the world once we host world class events such as this or Golf tournaments on the exceptionally beautiful seaside golf courses of Playa Conchal, Hacienda Pinnilla, and the Four Seasons Papagayo courses.

The top sporting event to be held in Costa Rica this year will be the International Surfing Associations (ISA) Billabong World Surfing Games (WSG), which will take place July 31 through August 9 in Playa Hermosa near Jaco in the Central Pacific.

Organizers said some 35 countries have already confirmed their participation in the planets most important surfing competition. Of those delegations, 17 have already indicated they will come with full teams, including top world powers: Australia, Brazil, the United States, South Africa, France, Portugal, Tahiti, and New Zealand, among others. Costa Rican beaches have positioned themselves as some of the most popular surf destinations in the world, this is why ISA picked Costa Rica to host its first World Surfing games ever.

At present, Costa Ricas surf tourism represents a 20% annual income for the country. According to the data generated by the Costa Rican Tourism Institute (ICT) almost 200,000 surfers from other countries visited in 2007 attracted by the quality of the waves in places such as Jaco and Tamarindo. In fact Costa Rica beat out favored candidates to host the 2009 competition, including Brazil and South Africa.

Source: The Journal July 2009

These people have done their homework and realized the ever increasing popularity of tourism in Costa Rica and its potential for investors and retirement for the millions of baby boomers make it a secure place to put their investment dollars. American Billionaire Steve Jacob has invested in a $42 million dollar property nearby and is doing a $600 million dollar project. Saudi Billionaire Hotel Mogul is planning on building 6 major hotels in Costa Rica, most of them are going to, you guessed it, the Guanacaste Gold Coast, and we are right in the middle of it.

The new floor plans have been drafted and changes made on the website, There are now 3 sizes of units to choose from . The 3-D shot of the building has been posted on the website. Pedro Murillo, an architect from Mexico, who is working in Canada has been instrumental in getting the new conceptual plans, elevations, and 3-D work completed.

The project has passed the environmental study and the deep waterwell has been passed as having sufficient potable water for the development. The geotechnical study has revealed that we have some very good bearing capacities for the building.

There has been a great deal of interest in the project even though the finishing date is 2 yearsplus into the future.

Scott Olivers of We Love Costa Rica has a great article on Costa Rica real estate & land development.

We have a clip available for download - click here ( Word Document ~ 170kb ).

At present we are in the process of processing the conceptual drawings and getting our permits. In Costa Rica this is a big task and a slow process. We expect it to take 1.5 years, it has already been 6 months. The construction drawings have been started for Phase 1, which is the first building with 15 units. We are predicting that the excavation work will start in late 2008 and the building will take 1 year to complete.

Presales will not be offered until we know all of our costs and have the contracts with the contractors signed. We are however starting a list for interested buyers so that they can be the first ones to pick their units. This will also allow full ownership units to be able to pick out some of the interior finishes making their units unique. Please go to the Contact Us page and fill out the form if you have any questions or want to be put on the list for this exciting project.

The Marina at Flamingo was put out to bid and they are now deciding who will do the project. There is proposals that will expand the marina to a 400 slip harbour, spending millions to do it, making it one of the largest and best on the coast for many miles.

The Marriot Hotel should be breaking ground on a very large hotel complex on the other side of Flamingo. Yet another sign that this is the best beach area in the country to be in.

Panorama from the Loma del Sol Site                                                                                                                                          

Panorama at Playa Sugar Beach on Potrero Bay