Tuesday, July 1, 2014

Real Estate ticos promoted in Geneva and Dubai

Several days ago the journalist Karen Retana published in the same newspaper a note referring to the real possibilities that exist right now that Arab and European investors to invest in real estate in Costa Rica.

Some firms, such as the one mentioned in the article with which I am in contact and collaborate, began promoting from Europe and now from Dubai to Costa Rica, the market may be attractive for a country like ours that has two seas, has a geography only with its rivers and mountains, flora and fauna of global ecological interest and also a special tourist attraction.

The initiative is excellent. Europeans begin to see Latin America as a good place for investment, the Arabs barely know us, but they could invest, Americans have already invested heavily in technology, services and Real Estate, we can ask ourselves why we could not do European and moderate Arab countries.

Two important facts support that effort, first initiative of this government to establish diplomatic relations with some moderate Arab countries, which suggests in trade and investment opportunities that open from these latitudes, and moreover treaty free trade agreement being negotiated with the European community and things, the opportunity is served.

But promoting and attracting investors to the country is not easy, is costly and should make a great effort, set up an office in Dubai or Geneva require much investment and work.

For these promoters is that the most important investment rules are clear, only then can convince the investor, the Costa Rica must also do your homework, know that property prices have reached exorbitant sums in some cases, have had disproportionate increases without any foundation, along the Costa Rica this will change some habits in recruiting companies to promote their properties professionally and will have to sign the authorization to the promoter. Without clear rules, no business to do.

Costa Rica also forget that there are other markets to invest, you think for example that the other Central American countries have competitidad with ours, but forget to Panama. This country is our real competitor, remember for example when environmentalists opposed the pipeline in Costa Rica, Panama adopted the project and made ​​it a reality.

Today competition we have with this country is to pay close attention not only in the real estate field is already strong and that the values ​​of its properties are much lower and attractive, but because Panama is ahead of us as infrastructure, has a more modern, open and dynamic banking and financial system than ours, their rules of construction are more expeditious and attract more investors now Panama is offering incentives for hotel chains to invest in capital projects 40 floors and more with tax advantages that are offering 15-year extendible way to build there.

The latter I quote desataco and because we know that there are some opposed to the realization of buildings of a certain height groups, we understand that there are areas that need care and protection, but the areas studied and chosen by the Municipality of San José for buildings between 15 and 40 floors should be made to respect, it is worth remembering that there is well-founded that the city should not continue to spread horizontally because it threatens rivers, groundwater and protected areas theory , logic tells us that at least in San Jose should grow vertically.

Given the above, the executive, local governments and Costa Ricans should be clear of everything here exposed if investors claim that Geneva and Dubai and elsewhere come to invest in our country.

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