In relation to condominium laws, Costa Rican legislation is very open and gives the parties a lot of flexibility in establishing internal condominium regulations, leaving it to almost solely to their determination and with little formalities. In a broad sense, condominium legislation is very similar to that of the United States, and has facilitated the growth of the real estate market by giving similar conditions to those already experimented in other more mature markets to individuals, financing vehicles and financial institutions. Foreign Investment in Local Real Estate Foreign investment in local real estate has also played a mayor role in the growth of the sector.  

Foreign investors have become key players in jump starting the growth observed in the past decade through their investments as developers in the establishment of nucleus real estate circles such as, but not limited too, shopping malls with hotels and office centers in one site, beach and city hotels with golf courses and adjacent residential compounds, and the development of more elaborate and sophisticated residential and commercial complexes. These investments in the precise locations have turned average areas into prime real estate, generating a development boom in the vicinity. Foreign investors have also played a major role in serving as financing vehicles and passive capital partners for local developers, facilitating access to working capital as well as better business practices in some cases.  
 
An important participation of the total foreign investment in local real estate has also come from the more than 11,000 foreign residents who have retired in Costa Rica, buying and developing properties for their use and enjoyment. Most of these retirees come from a high socio-economic bracket and therefore are mostly very sophisticated, generating a new segment in the real estate market. The number of future retirees continues to grow because of the positive climatic, social and economic conditions Costa Rica has, and therefore this segment will continue to be a major contributor to real estate investment. Real estate foreign investment will only continue to escalate as better conditions are given to investors and retirees, as the sector growth increases and novel prime locations arise, and as the demand for tourism related developments continues to grow.  
 
What Lies Ahead Given its strategic location in the center of the Americas, its educated and highly productive workforce, a continuing political, social and economic stability, preferential access to strategic markets, its international standard business infrastructure and high quality of life, Costa Rica’s future seems to be in strong shape. The sustained growth experimented in the past decade will continue with a boost from the more than likely approval of the Central American Free Trade Agreement with the United States (CAFTA), a new fiscal reform and a continuing strong growth of the tourism sector, which is expected to be at least 10% for 2005. This growth will translate into investment and will have a direct impact in real estate, creating a stronger sector, forcing better rates, a wider variety of real estate related products and the birth of more elaborate and dynamic financing vehicles such as REIT's.  
 
Thanks to appreciation, rates that more than likely will remain the same and a more than probable economic bonanza for Costa Rica and the region in the next decade because of CAFTA, the real estate sector will continue to experience strong growth and sophistication and will be expected to perform with very positive results.  
 

Bocaracá Concominiums gives you the property title for your security. You can have it written to your name or to any Private Society you may have. Another very important thing is that properties in front of Bocaracá are under a law that prohibits buildings of more than three stories. So it warrantee you will have great view forever.