Costa Rica Construction Figures - 347.07% more in Guanacaste this year.

Gloriana Gomez

68.18% are new homes and if you look at January 2006 to August 2006, we've seen 300,000 square metres (multiply by 10.76 to get the square footage) more construction than the whole of 2005.

Without a doubt, the dynamic nature of the Costa Rica construction sector promises good things for the future of the our economy.

Construction in Costa Rica is Booming

For Randall Murillo executive director from the Costa Rica Chamber of Construction, this increase is the most important one in the last five years and is the proof of the dynamic nature of the market and a dramatic increase in dollars invested in Costa Rica real estate.

The President of Costa Ricas' brother Rodrigo Arias also commented that this is a clear sign that the national economy is regaining strength meaning increased investor confidence.

Costa Rica New Homes and Real Estate Investments.

• According to the statistics, from the 3.9 million square meters built up until August 2006, more than 2.7 million are from new homes in Costa Rica which represents 68.18% of the total built. In 2005 this sector built 2.4 million square meters.
• The growth in m2 also reflects on the amounts investment. Between January and August 2005 the investment was ¢224,000 million, in the same period in 2006 it was ¢749,000 million which represents an increase of 233.50%.
• The province that shows the largest increase is Guanacaste with 347.07%, followed by San Jose with 327.57%.

Costa Rica Construction - Solid Growth

Murillos added that private construction sector in Costa Rica knew how to respond to the increased demand with more modern materials, high technology construction methodologies and superior professional expertize.

Our thanks to Gloriana Gomez and our friends at La Nación - Costa Rica's largest Spanish circulation newspaper for their permission use this article.