Sensational Reporting on 'Falling' Real Estate Prices in Costa Rica

George Lundquist - September 2008

I just had to comment on Garland Baker's article in AMCostaRica on falling real estate prices in Costa Rica.

This is a classic case of the five blind men each touching a part of an elephant and describing what they feel as if it is the composite of an elephant. Each may be correct in what they describe but, it is totally incorrect to generalize from one part to the whole.

For over six years I have been taking guests to the areas of Costa Rica that I feel are the most desirable for retirement living. I have also been buying and developing properties in one of these areas for more than four years. I have been aware of the prices many of my past guests have paid for lots, raw land, existing housing, and their building costs.

During this time I have been advising my guests that not only are the highly advertised beach areas way more expensive; in my opinion, from a retirement point of view, they are much less desirable because of higher costs, heavy traffic, and higher crime.

Costa Rica Retirement Tours with George Lundquist

Mr. Baker has assumed that the part of the elephant he is familiar with is representative of all of Costa Rica. One of the areas he mentioned is the Parrita area where most of us would not choose to live even for free because of heat, humidity, mosquitoes, travel time and lack of infrastructure.

This area has been highly promoted by boiler room hucksters and is in no way representative of Costa Rica or quality developers of integrity.

In the areas that I am familiar with, it has been my experience over these last six years:

1. Property prices have been rising at a steady pace.
2. There remains essentially no violent and very little non-violent crime in our area.
3. There is an increased desire to buy a value piece of property as soon as possible due to obvious building cost escalation. Many guests are signing purchase agreements before they return to their home country.

Maybe one reason things are slowing for the highly advertised, highly hyped, high priced places that Mr. Baker mentions is that thanks to my website and sites like WeLoveCostaRica.com - more people are discovering that are many more desirable places for retirement at much more realistic prices.

Written by George Lundquist. George's goal is to give you enough facts and exposure to the Tico and Gringo lifestyles existing here for you to make the best possible decision as to whether living here part or full time is for you.

If you conclude you would like to live or invest here, you will be able to eliminate a lot of places to narrow your search and be able to proceed objectively.

Are you thinking of retiring in Costa Rica? George Lundquist offers a 4 day 3 night all inclusive "Expose me to life for the Non-Rich in the Costa Rica Tour which you can see here." Or, you can email George here.