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You point out some things Martin that I think a lot of people don’t stop to realize. The fact that there are many “recession proof buyers” out there is in fact keeping the market here very strong. It’s those middle income buyers that just a few years ago were able to come down and buy a beautiful beach front home or ocean view lot for $50K that are the ones unable to realize their dream of owning that same property today. The land, homes, condos, etc. that are in the $400K range and up are still selling strong and will continue to do so simply because of the financial stability of the buyers in that price range. I was in California in June and discussed with a real estate agent the market in the San Francisco bay area where we moved from. Looking at a list of 20 homes that had sold in the general area of our inlaws in the last month, all of the houses were in the price range of $750K to $1.5 million and roughly 80% of them sold for more than the asking price. It’s the median priced homes that are stagnant still in that market. There is still a lot of disposable income coming into Costa Rica and the baby boomer phenomena will fuel the market for at least the next decade.
Martin’s article is at < https://www.welovecostarica.com/members/1596.cfm >
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