Luxury Constructions Along Coast Increase 85%
Luxury construction projects such as condos, villas and hotels increased 85% in 2005 along the northern Pacific coast, known for its tourist attractions, according to El Financiero.
Statistics from the Costa Rican Construction Chamber (CCC) indicate that in 2005, 596,791 square meters were constructed in the northwestern Guanacaste province, 85% more than the 306,654 square meters built in 2004.
Construction is going on mainly in beaches considered prime Guanacaste tourist destinations such as Conchal, Cocos, Flamingo, Tamarindo and Ocotal beaches and the Gulf of Papagayo.
The publication indicated that in Playa Conchal, famous for its white-sand beach, there are 27 condominiums and six villas being built and one hotel expanding its capacity by 120 rooms.
According to experts, the capital gain of properties in Guanacaste has grown between 40-60%.
For example, condos in Tamarindo can cost up to $466,500 and those in Flamingo run as much as $679,000.
Guanacaste is one of the provinces most visited by tourists in Costa Rica because of its culture, forests, beaches and the convenience of the DanielOduberInternationalAirport in Liberia, to which 48 flights arrive weekly.
Tourism is one of the main economic activities in Costa Rica; in 2005, an estimated 1.6 million tourists generated $1.5 billion.
You may be interested
Honduran opposition protesters take to the streetsNoe Leiva / AFP - December 15, 2017
Supporters of the leftist opposition in Honduras blocked streets in various cities around that country on Friday, despite political repression,…
Of snow, kindness and Northern Lights: a Costa Rican in Manitoba, CanadaGustavo Díaz Cruz - December 14, 2017
My mom named me Gustavo Adolfo. I was born in Puntarenas, next to the sea, but my home was in…
Response to disaster: aid successes, struggles in post-Maria Puerto RicoJohn McPhaul - December 13, 2017
As Costa Rica joins many other nations in looking back upon the horrendous 2017 hurricane season, longtime Tico Times contributor…