Investors have the chance to take part in a unique opportunity - getting in on the ground floor of a major revolution in Costa Rican real estate. New development in a long forgotten city is breathing new life into Costa Rica real estate and bringing a potential flood of tourist dollars. Learn more about this opportunitiy in the following article by Pathfinder International.
A billion-dollar gentrification project is going to transform a forgotten port town in Costa Rica into a major Caribbean hot spot. If you get in on the right side of this massive cash injection, you could make a lot of money.
A billion is a lot to spend on a scheme like this. But Limón needs a lot of work.
For much of the last century, Limón was a company town. The controversial United Fruit Company managed the port, built the railroads and bridges, looked after the colonial buildings, and ran the local businesses.
Back then, bananas were a better business than tourism. When the company pulled out of town in the 1960s, Limón became Costa Rica’s forgotten province.
When the Costa Rica tourism machine began bringing in droves of foreign visitors in the 1980s, it was the northern Pacific coast that most benefited. Those who bought in the north Pacific coast of Costa Rica in the 1980s have done well...very well in fact. Prices have appreciated tenfold in some locations like Tamarindo. Today this area of Costa Rica is known worldwide as a playground for the rich and famous. By contrast, Limón isn’t...but I think this is set to change.
The Costa Rican government has decided to develop Limón in much the same way the Mexican government developed Cancun in the '70s.
Last month, the Costa Rican President allocated $80 million to kick-start the restoration of cultural buildings in Limón and improve the city infrastructure. The rest of the money--$900 million--will come from private investment. When it becomes easier to get here, the tourist stampede is going to be staggering.
The first major development on this Caribbean coastline has been launched. The $40 million development includes a 500-slip marina, two breakwaters, a shopping center, 800 homes, a yacht repair area, and a luxury hotel.
The marina will change this sleepy Caribbean outpost. How much? Consider Los Suenos on the Pacific side of the country. This was Costa Rica’s only private marina. When it was developed, the area boomed. That will happen on the Caribbean side. Expect to see cafes, restaurants, bars, and boutiques springing up. Expect to see prices rise, reflecting the pricing of the marina residences.
The coastline here is the stuff of Caribbean postcards. The sand is white and the water is turquoise. Back from the coast, you have the Talamanca Mountains. You get magnificent views of the Caribbean and the surrounding mountains and valleys. The breeze is fresh and the wildlife abundant--70% of the coast is protected.
Buy here today and you can still get in at “forgotten” Limón prices. With the gentrification of Limón, and the new marina, this area won’t remain “forgotten” for long.
This article has been republished from Pathfinder International. You can also view this article at Pathfinder International, a site discussing international real estate opportunities.