#SanJose will have the tallest #building of #CostaRica │ #costadevelopers

Recently have been built in the country several #apartment towers, however the construction of corporate centers has taken first place.

The #project towers of Colon that promises to be the tallest #building in Costa Rica, will be located on First Avenue in the Costa Rican capital. Its #construction will take 22 months and will have a height of 101.3 meters, with 30 levels, 126 room units distributed in 29 floors.

Torres de Colón is the second stage of the Paseo Colón towers project and has an #investment of $18 million.

A charge of this structure is the signature real estate group Del Parque, construction will be 22.000 square meters. This #developer is already building a tower of 97 meters high and 27 floors, which will be intended to be a building of offices and also residential.

In accordance with Del Parque, the entity The Council on Tall Building and Urban Habitat gave accreditation to Torres Paseo Colón to be the tallest building in Costa Rica.

In spite of the construction of this housing complex began last Thursday, more than 70 apartments are already sold which means more than half of the project.

Representatives of the developer justify that the cause of this accelerated sale is the proximity of the condominium with the center of the city and also the security that it offers.

"Acceptance is that the people have discovered as a wonder to return to live in San Jose. It's the benefit, the car use passes to a second plane, the proximity of services," explained José Luis Salinas, President of the #realestate group at La Nación.

The company presented several innovations in construction as access through electronic fingerprint detection, and a modern system of internal monitoring.

Also public areas will have #gym, projection room, bar, swimming pool, track for running, laundry and #BBQ ranch.

Del Parque has other real estate developments such as Vistas del Parque, Sabana Real, Torres del Parque and other complexes in the capital.

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Enjoy Costa Rica during the spring break

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During the spring break, thousands of young people and their families travel around the world to take advantage of the break of the universities

Costa Rica tourism industry prepares for the spring break 2013 season, the period of recess for universities and many departing to vacation during this time around the world, certainly thousands of tourists choose to Costa Rica as the perfect destination for holidays.

With an influx of 2 million tourists a year, hotels, lodging facilities and other places of accommodation and adventure are prepared for the arrival of hundreds of tourists during this period.

During the month of March and April, the climate of Central American paradise stays warm, one of the hottest periods of the year, perfect for adventure activities like canopy, horseback riding, visit the beaches, mountains and national parks that are kept open waiting for visitors.

Many people take advantage of this holiday season to take a look at the industry of real estate in the country. Family holidays are ideal to consult professionals along the coasts and mountains are your best choice to continue vacationing in paradise.

Coast Developers offers an opportunity for investment and fun that you may not pass. Once or twice a year to visit Costa Rica, stay in their own home with a value of $ 1 million, with total assistance and comfort at a fraction of the price.

The Central Pacific region is one of the most visited and tourism of Costa Rica, in its surrounding areas are great attractions as Manuel Antonio National Park, the marina Los Sueños Resort, restaurants of high luxury, local, own the region's trade and adventure in the air such as cataracts, hiking and more.

Brake spring holidays are ideal for fall for Costa Rica and think about property investment roots, you will not pay more lodging and you can visit the country wherever you want!

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Costa Rica!!! Paradise of The Rich and Famous!!!

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Real estate market in Costa Rica will keep growing

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Expert analysts and international media profiles real estate in Costa Rica will continue to rise.

A stable economy could yield him fruits to Costa Rica in the goods market roots, experts predict that there will be an increase in real estate sales in what has been a market slow, it would however approximate a wave of sales.

"After a successful close in 2012, this year (2013) seems to be a great start with houses of Costa Rica to draw attention to the Web sites of real roots throughout the country, $200,000-$ 450,000 of points of sale at the price," advises The Tico Times, a newspaper in English language in Costa Rica.

"The market is definitely gaining steam," noted Chris Simmons, broker/owner of Remax Ocean Surf Realty in Tamarindo. "Sales in the last year were higher than in the three previous years combined. They are selling properties that have been for 2 years without tenders and there is a growing urgency in the market."

The positive side was that more foreign investors are owners of their property for what the country did not see the same disastrous situation of foreclosure who experienced the United States and other global markets where the properties were heavily mortgaged. As a result, the recovery has been less complicated that in economies that are overwhelmed by the high housing debt.

The increase in sales seems to be due to several factors. The stabilization of the housing market in the United States is having a positive impact in Costa Rica, and condominium sales. Thus, tourist arrivals constantly increased in Costa Rica from 2010 so more potential buyers have the possibility of knowing firsthand the market in Costa Rica.

According to the Tico Times, "people around the world want to buy properties in Costa Rica. The Americans who come to visit and fall in love with the country and South Americans trying to protect their fortunes of questionable Government policies in their own countries are foreign property investor’s most common roots.

To these groups can now add a class newly empowered and ambitious young professionals in Costa Rica and the emerging Russian and European investors. Together, these groups form a demand of changing market of real roots of Costa Rica.

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Financial institutions in Costa Rica are preparing to comply with FATCA law

Costa Rican financial organizations are prepared to meet the demands of the United States on the foreign account tax compliance Act (FATCA), which came into force this year.

The law of United States oblige financial institutions of Costa Rica to provide financial information to the United States internal revenue about their national clients service, the law obliges foreign financial institutions to supply information to the service of internal revenue of United States (IRS) about its customers, with the objective of combating tax evasion through the use of accounts abroad.

Over the next year local agencies will have to modernize their systems so, 01 January 2014, they are able to locate United States taxpayers who have accounts with them and perform the compilation information.

According to Manrique Blen, specialist at the accounting firm of Deloitte tax, institutions will be seeking to identify what customers might be American taxpayers. In January 2014, they will start to contact customers requesting more information to confirm their status as taxpayers. Then the companies will decide that customers should be reported to the IRS.

In 2010 the United States adopted the law of rent, which encourages employers who hire people who have been unemployed for a certain period of time. To cover the cost of these incentives, the Government created FATCA, which has instituted a series of controls on international financial transactions.

The Act does not require, but invites financial organizations around the world to provide this information to the IRS. However, according to close, there are penalties for those who violate.

"As a law of the United States, should not be able to oblige the Costa Rican financial institutions," said. "However, those who do not comply with these processes will be punished by the financial institutions in the United States with deductions of up to 30 percent in any payment made to a foreign financial agency that does not have an agreement with the IRS."

Starting from March 31, 2015, local financial institutions will have to start reporting to the IRS information on clients of United States taxpayers that they carried out operations in 2013 and 2014. From 2016, containing more than $50,000 of personal and corporate accounts containing more than $250,000 shall be informed.

According to Blen, Deloitte advises a large number of banks and has spoken with 90 per cent of the financial organizations of Costa Rica. "Everyone knows FATCA and many already they are applying," he said. "During the rest of this year, all to make changes which to date."

"FATCA is an important development in the United States efforts to combat offshore breach. At the same time, the IRS recognizes that the FATCA application is an important commitment for financial institutions," said the IRS Commissioner Doug Shulman in a statement released in July 2011.

Close also recognizes that one of the advantages of the law is that it allows greater transparency in the destination of the funds and the tax obligations of persons holding financial transactions outside the United.

Blen added that the IRS also offers countries the possibility of signing intergovernmental agreements, in which foreign Governments sent the United States information about financial operations of American taxpayers in their countries. Mexico was the first Latin American country to sign an agreement of this type.

"There is a list of about 50 countries that are negotiating with the United States signing these agreements," said.

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Costa Rica in the top 10 of trade and tourism of Latin America and the Caribbean

Costa Rica within the top 10 of the countries at international level in the field of tourism and trade, according to the international consulting firm Bloom Consulting.

Currently the Central American country is located in post 72 with respect to tourism and ranked 84 in trade, internationally; Mexico is also located within the list at the top (16), Argentina (40) and Brazil (47).

The study argues that Costa Rica has been a country with very stable economy and that keeps it at the top, above competitors in the region such as Panama (74), Ecuador (83), but also it needs to improve to be able to compete with strong brands country like Colombia, which is ranked (69).

According to the signature consultant, the country should invest more in defining a strategy that optimizes their searches through the internet. Brand country of Costa Rica is currently focused on its natural beauty and its coasts, but Blooming suggests that also seeks attraction in the oceans, beach activities and "relaxation" mode are aspects that can strengthen its position.

On the issue of trade, the leaders of Latin America are Brazil in the post 11, Mexico, 25 and Chile in the number 33. Costa Rica ranked 84 worldwide and 10 in Latin America, it has demonstrated a very strong economy with competitive levels of growth in the region.

One of the factors that are taken into account in the ranking performed by Blooming, are the hospital industry and real estate, which encourages the Central American country to stand out and compete with others in the region such as Panama and Dominican Republic. The consultant mentioned that for Costa Rica the future is promising if it maintains its levels of growth.

The efforts of the authorities of tourism and foreign trade in the coming months with the brand country could make sure the country is located within the top five positions in Latin America and e Caribbean in the next study.

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The construction industry aims to a growth of 11% in Costa Rica

Chamber of Construction of Costa Rica said that for this year it is estimated that the construction of residential and urbanizations will grow by 11%.

 The Costa Rican Chamber of construction recorded growth speculated the country must respond directly to the improvement and acceleration of procedures related to start construction, as well as speculation in the economy’s growth.

The President of the Chamber of Construction, Gonzalo Delgado, has expressed that to achieve growth that is planned, it is necessary to build a long term commitment of the institutions of the State planning to improve the conditions of access to housing.

Delgado also mentioned that it is a requirement that the figures of trusts, pension funds and public works concession are developed so that this takes place. It is also essential for the sector to reduce interest rates and work on the stability of the exchange rate.

The development of the sector in the previous year’s also indicates that last year's growth was 11%, with approximately 570 000 square meters of construction recorded in processes of 2011.

These data recorded by provincial correspond to the following figures in accordance with construction area: Puntarenas showed a growth of 43.6%, Heredia a 25.3%, lemon a 24.9%, Guanacaste 20.8% and San Jose a 6.8%. Alajuela and Cartago provinces showed a decrease of the construction.

Costa Developers properties, are located in the Central Pacific, in the Puntarenas province, according to the figures the province that has seen the greatest growth; this area has become a suitable target for the development of real estate, among other factors by its proximity to the city and its natural beauty.

The Chamber of construction specified that the expansion of residential buildings is a 23.3% and in the sector of commercial developments, have had a rapid expansion with a 1.6% growth. Categories showing negative numbers correspond to industrial buildings and offices.

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Costa Rica will see revitalization of industry in 2013

This year 2013 promises to attract large amount of foreign investment which will be allocated to different sectors of the national economy.

The year 2012 was characterized in Costa Rica by the large influx of foreign investment and large buildings, offi-centers and hotels developments, not only in the tourist regions but also in the capital.

This year suggests that foreign investment will attract industrial, commercial, tourist and real estate companies. It includes also clothing shops, supermarkets, restaurants and others.

The Central Bank indicated that at the end of the year 2013 foreign direct investment would reach $2 250 million, which corresponds to a 2.27% above what was estimated in 2012.

Sectors where the investments will focus will be distributed in different sectors, for example 25% will be allocated to the sector of high technology, clean energy, and services that will be installed in zones. Residential projects will also be included in the sectors of Escazú and coastal as the Central Pacific and Guanacaste, establishment of shopping centers and hotels.

The real estate firm Colliers International, commented with outstanding artworks in the country that seek to end this year; in the 2011 consolidated the construction of 142 846 square meters and in 2012 about 964 103.

Sonesta Hotel and Casino aims to be the most significant hotel development of the greater Metropolitan Area and is scheduled to open in the first half of the year; with an investment of 40 million dollars and 171 rooms at 1500 square meters.

In Guanacaste is also expected to inaugurate the hotel Andaz papaya and San Jose Hotel Park Inn three stars.

The Director of the Costa Rican Coalition of Development Initiatives (CINDE), said is expected to consolidate at least 30 projects in the areas mentioned above for the next twelve months. This investment not only stimulates the economy but that in turn works as important generation of employment.

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Living Abroad Solutions to Scary Retirement Facts

Even in the best of times saving for retirement is often a monumental and difficult task, now with middle class opportunity shrinking, economic “cliffs” and austerity measures, it can be not just daunting but scary.

Many Americans are starting to look at options to make their finances for retirement more assured.

Here are five hard facts on retirement and how living abroad can provide viable solutions.

1. Americans live for approximately 19 more years after retirement

This represents 20-25% of your entire life and further, approximately half the population will live longer than average life expectancy.

Many American (especially baby boomers) have realized that apart from declining middle class opportunities, a potential bankrupt social security system and other economic disasters and woes, their savings are simple not going to last. Many have discovered that living aboard can significantly increase their odds of having sufficient money in their Golden Years.

2. Real estate values

Many retirees are expecting to cash in on their number one asset, their home/property.

The survey conducted by the Professional Risk Managers’ International Association for FICO found that home prices in the united Sates are unlikely to recover before 2020 and mortgage defaults will persist for years, says a survey of bank risk managers.

The report, Emerging Trends in Real Estate from the Urban Land Institute, predict above-average growth for Latin America, well ahead of that for the United States and Europe, and other survey’s from across the global predict Latina America and specifically Central America, will see significant growth in real estate value, as more and more investors jump into the largest emerging market on the planet.

If you are looking at improving your asset value, living abroad on your own real estate is increasing attractive.

3. Medical cost will continue to rise, as well as your need for medical attention

It is a well known fact that US medical costs will continue to rise as will insurance costs. The aging population in US will also require more medical treatments as they age.

It is also a fact that medical and dental treatments and procedures in places like Costa Rica will save you from 30% to 85% compared to the USA. (See TCRNs Health section for numerous article medical tourism)

4. Currently, the average Social Security retirement payment is just $1,220 a month

How far does $1220 go? Not far in North America. There are several areas in Central America, like Costa Rica where $1200 covers your monthly cost of living expenses, rent utilities, food and even leaves a little extra.

For example in Costa Rica, outside of the densely populate urban centers or tourist traps, a nice 2 or 3 bedroom house is around $400/month, utilities including cable and internet will run you around $150/month, food is$450/month approximately.

5. The average cost of an assisted living facility is approximately $40,000 a year in the U.S.

Projections estimate that about 3 million US expats will join the million+ already in Mexico and Central America within the next 10 years. Other estimates place the number closer to 10 million by 2025.

That, added to the shortage of affordable assisted living facilities in the US, creates a huge opportunity for investors and developers. When you search the news online you can find numerous investors, developers and existing assisted living facility businesses already moving south of the border, to take advantage of cheaper development costs, lower cost of living, less expensive but still highly skilled labor, and the growing number of baby boomer expats moving to Central America.

Living abroad for retirement has become a reality for many Americas and is projected to become a major consideration for the baby boomers population which are now hitting retirement age at a rate of 10,000 per day in the US.

For more information visit www.costadevelopers.com and retirement in Costa Rica, contact us on the form below and one of our Customer Service Experts will be glad to help you.

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Tico flower producers seek buyers in Europe

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Eleven companies exporting flowers and plants will exhibit their products this week at the world’s largest flora fair, the IPM Essen 2013 in Germany.

The event brings together some 1,500 exhibitors showcasing their products to 60,000 buyers from 90 countries, according to Costa Rica's Foreign Trade Promotion Office (PROCOMER).

Company representatives also will participate in business meetings with buyers from Poland, according to PROCOMER Trade Promotion Manager Álvaro Piedra, who added that recent studies carried out by them show that the Polish market is very attractive for Costa Rican producers.

The results indicate that there are more than 200 Tico products with export potential to Poland, especially plants, flowers, foliage and fresh produce.

"Poland has a population of 38 million, is the sixth most populous country in the 27 that make up the European Union, and its economy has recently shown attractive economic growth," Piedra said.

In 2010, Costa Rica exported some $140 million in flowers and foliage, especially to the United States and Europe.

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Costa Rica becomes a country of high luxury for visitors

Years ago the small country of Central America was known as a little explored natural destination and with limited possibilities to find accommodation and services of high luxury, found in the Caribbean and other countries. However that has changed and today it has become a tourist destination paradise and desired by many.

San Jose, the capital city has grown enormously and is capable of accommodating hundreds of businessmen and tourists looking for luxurious, comfortable and good price places to attend activities of world order, business congresses and other meetings; a focal point in new investments of the Ministry of tourism of the country.

With an input of about two million tourists a year, the country has made efforts to offer visitors everything you require when visiting the country.

If you are traveling to Costa Rica seeking a high luxury vacation, can be found. Currently there are marinas, golf courses, luxurious restaurants and hotels. Near projects of Costa Developers, where you can enjoy an unforgettable vacation, the luxurious Central Pacific Resort: Los Sueños, a place where it has access to a true oasis of tranquility and comfort.

Despite having taken a direction towards the buildings and most luxurious services and that they meet high standards, Costa Rica continues to be recognized worldwide for sustainability and conservation of the environment in urban residential and tourist complexes.

These centers for visitors have been catalogued as part of the stream of eco-tourism, which make up the eco-lodges, eco-resorts: centers of placement for tourists possessing high luxury and comfort without forgetting the flag for the conservation of nature and resources, something that much attention from the visitors.

Areas such as Los Sueños Resort and Marina in Herradura, Jacó, tourist complexes in Manuel Antonio, Central Pacific and Gulf of Papagayo in the North Pacific. Definitely Costa Rica has become a paradise for those looking for both comfort and harmony with nature.

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What do “baby boomers” wished to have when going on vacation?

There’s no question that comfort and price are two important elements when going on vacation, and people between ages of 48-69, that have been called the baby boomer generation, become more demanding bout what they look for when traveling for leisure and pleasure.

A recent survey conducted by WatchBoom.com an online magazine with 7000 subscribers, revealed interesting suggestions to resort and vacation centers on the world.

One of the most important things, of course is the price, but curiously 60% of people who responded to the survey said they’d be willing to pay a few extra dollars if they’re promised to have a time to remember, even if that is on high season.

Travelers also prefer all-inclusive hotels, giving them the choice to not pay anything extra for food or drinks. “Knowing that your tab for food and drink is covered takes a lot of unknowns out of budgeting for a vacation, especially for (Boomers) who foot the bill for family reunions and the like.”

More than 50% of respondents say they would prefer a “garden view” room at beach resorts because of pricey “ocean view” rooms at some resorts, and one of the subscribers said that “you can’t always get a front-on view of the ocean” from an ocean view room.

Boomers were also asked which the top five foreign destinations to vacation were; the results of those places are 1.Mexico, 2.Hawaii and the Caribbean, 3.Spain, 4.Costa Rica and 5.Canada.

The most important reference to choose a place is the experiences of others; the best way to find out how good or bad is a place is from the previous travel of relatives or friends. But online reviews are also very important, some say they’d rather see some good and bad reference instead of only wonderful things, “When I see a whole string of reports saying a hotel is really wonderful, and nothing ever goes wrong there, I get a feeling that the reviews have been ‘planted’ by the hotel.”

On the other hand some do rely on what others have said about the places on the web, “I rely on reviews by people who’ve actually stayed at hotels to steer me away from noisy, dirty and otherwise awful places…things I’d never have known from pictures of hotels on the websites.”

All inclusive hotels have a challenge of pleasing baby boomers’ visitors around the world, Costa Rica is no exception of it is surely a place where you will find everything you’re looking for to have a great time.

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6.9% more tourists came to Costa Rica on the third trimester of 2012

According to statistics of the Central Bank of Costa Rica (BCCR) and the Directorate General of Civil Aviation (DGAC) between January and September 2012 the income of tourists to the country, rose at a 6.9% leaving as the balance $ 1.7 billion to the State.

These figures show that in the first nine months of the previous year (2012), a total of 1.635.348 people entered the country by airway, while in the previous year (2011) the same figure was 1.593.999 which reflects growth of 2.5%. The authorities even scanned the last quarter of 2012.

In addition to the income by air, is added the entry of tourists who arrived in the country by land, which were 1.799.000.

According to the corresponding authorities, since 2008 the number of tourists entering the country is maintained between 2,000,000 and 2.100.000 per year, which shows a clear change in the figures that were presented between 2004 and 2007.

The Minister of tourism, Allan Flores indicated that data are still needed "I have information that the airport Juan Santa María closed in a significant way, as well as the International Airport Daniel Oduber." You have to wait to have the data for the fourth quarter of 2012 ".

The country has made strong efforts to issue of marketing and exposure of the benefits and attractions to visit the country, which is expected to translate into the increase in the number of tourists entering the country. Tourism is one of the main economic activities of the country. Costa Rica plans to invest 17 million dollars for the promotion of tourism in 2013.

As the Minister of tourism, the overall expectation for the year 2012 correspond to an income of more than two million tourists, is however too early to make approximations. However, if indicated that most of the recorded tourists come from the United States and Canada.

"What I can tell you is that we are increasing the budget in promotion and marketing and our participation in international fairs; "also hope to have completed the National Convention Center, which will attract another form of tourism this year", said Flores.

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Where are the “best buys” in Costa Rica?

Year after year we’ve seen that the more than 2 million tourists that show up to explore this country keep falling in love with it and become interested in purchasing property in Costa Rica; with such promising panoramas within the next years in the Real Estate business and with a lovely destination, how come you doubt?

International Living magazine recently shared information about where are the hot spots to purchase property in Costa Rica, not surprisingly the Central-Southern Pacific stills in top 1, not only because it’s proven to be the best area to live and vacation but because of all benefits of it.

Think about a place which is located very close to Costa Developers projects, Manuel Antonio National Park, the most visited place in the country by tourists, not only because it is very close to the Central Valley but because of its immense natural beauty. The park is so visited; there are restrictions to get it, 600 people during the week and 800 on the weekends.

If you happen to be on that area, moving a little to the south you’ll find Corcovado National Park, for those who are truly down for a completely natural outdoors adventure, this is the place to be; a pristine reserve full of wild life, without roads, stores or hotels, huge tall trees and all kinds of birds to watch and enjoy.

Not only Manuel Antonio and Corcovado are located around the Central-Southern Pacific area, but a lot of places to enjoy as well, and numerous, countless activities to have lots of fun.

The following spots where to the northern are of Alajuela (city approximately 10 miles from San Jose) San Carlos, where you will find beautiful landscape and a lot of activities to enjoy, such as delicious hot springs, horseback riding tours and many more. On the third place, International Living chose the Caribbean region of the country, which despite all its current social problematic situations also holds a beautiful landscape.

No doubt, the Central-Southern Pacific stills your first top choice in case you’re looking for a great place to vacation and enjoy retirement, family travel. Take a look at our website so you can see yourself vacationing at this paradise.

Posted By Costa Developers

Protecting global water sources

A study by research group Ecosystem Marketplace noted that 80 percent of the world’s countries are facing issues related to threatened water security.

A report released this week finds that more countries are turning to environmental services programs to protect sensitive water sources.

Facing increasing water scarcity, many countries are turning to environmental service payments to help mitigate the effects of climate change and pollution.

From 2008 to 2011, initiatives to protect and restore forests, wetlands and other important ecosystems have doubled in number. The report covers 205 programs around the world, 21 of them in Latin America. Globally, the number of programs has increased by 100 in three years, totaling $8.2 billion in investment, a significantly greater amount than in 2008.

Ecosystem Marketplace analysts noted that investing in programs to protect water at the source, rather than spending on treatment, could result in considerable savings for governments. It also helps to guarantee water security and provide environmental and social benefits to communities.

Another problem Latin Americans face is a general lack of water treatment infrastructure. Coupled with the effects of pollution and climate change, the lack of treatment facilities is converting a region rich in hydrologic resources into one that is highly vulnerable to problems with accessing potable water.

The study notes that China is a global leader in investing in programs to protect hydrologic resources at the source. The Asian giant accounts for 91 percent of global investments in environmental services programs protecting water. Chinese officials, for example, offer new health service benefits for residents in mountainous communities in exchange for better groundwater management, which they say will help improve potable water access.

In the United States, officials in New York chose not to invest heavily in new water treatment facilities, opting instead to implement compensation programs for farmers in the Catskills who agreed to work to reduce pollution in regional lakes, rivers and streams that provide New York City with potable water. Thanks to these efforts, New York had enough drinking water to make it through the recent Hurricane Sandy.

The study also notes that 68 other environmental services programs operate in all of North America.

“The benefits of these hydrologic programs extend well beyond water; they support biodiversity, reduce emissions and provide income to rural families,” said Genevieve Bennett, the report’s lead author.

But private-sector participation in these types of programs remains limited, despite the fact that many companies have reported problems related to water availability. Most of these types of programs are operated by nongovernmental organizations or by governments.

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