Real Estate Perez Zeledon

Great news for real estate buyers in Costa Rica.  A new decree protecting consumers was signed by President Oscar Arias Sanchez on August 6, 2009 and became effective as of October 27.

The new law requires that real estate developers register their projects with the Ministry of Industry, Economy, & Commerce.  Developers must show financial solvency sufficient to complete their respective projects and requires that consumers only make phased payouts for pre-construction projects.   Buyers are also protected from sales contracts that force them to surrender their rights or allow developers to escape liability for unfinished projects or breach of contract.

These new regulations are long overdue, as many consumers fell victim to fraud by developers that sold pre-sale projects and never started or completed construction.

We are excited about these new requirements as it will enhance the protections for our clients and for our brokerage.  In the past, we had to say no to developers pushing pre-construction.  We did not want to recommend a product that could be risky to our buyers.  Now, with these new regulations in place, developers can show that they are in compliance with the law and prove their financial solvency to deliver the finished product while our consumers remain protected by proportional pay-out schedules and professional escrow services.

Posted by:

Aaron Dyer | Broker Manager
Coldwell Banker Vesta Group Perez Zeledon
www.cb-perezzeledon.com

Clear Gold!

The Southern Pacific Zone of Costa Rica has become the site of the next Gold Rush, CLEAR GOLD!

With the popularity of doomsday scenarios as depicted in Hollywood movies such as 2012, and popular folklore regarding Hopi and Mayan Indians, Costa Rica is quickly becoming an even more desirable place because of the year-round abundance of our most precious and necessary resource, water.

While it’s true, the rain can cause a delay or impede your plans for a casual day in the sun, you can’t really complain about the rain when you choose to visit or live in the rain forest!

One of the marvels that draws so many tourists and ex-pats to visit then live in Costa Rica is the abundance of fresh water springs. If you’ve never seen water bubble up out of the ground, or pour out from an outcrop of rocks, it is similar to having a religious experience.

Ever since we’re young, we’re taught to avoid drinking water that is not pure or doesn’t look clean. The first time you stick your whole face into a spring and gulp down copious amounts of the purest water this planet has to offer, you can’t help but feel truly blessed to be alive and fortunate to be at that moment in paradise.

This year is predicted to be very dry in Costa Rica due to the “La Nina” phenomenon. Here in the Southern Zone we get a lot more rain than the the north in the Guanacaste and Nicoya regions. We’re entering December and the rain is going strong here in the south. Our springs, streams, creeks, and rivers are full.

The national water company AYA, or Aqueductos y Alcantarillas is developing two new hydroelectric facilities here in the South, one in the Savegre river valley south of Quepos on the old road between Quepos and San Isidro de El General, and the other will be the largest man made Hydroelectric plant and Lake, El Diquis Lake in Buenos Aires.

Just like Arenal, except without the volcano, we’ll have our fresh water lake along with all the aquatic sports, fishing, fresh water snorkeling, scuba, kite surfing, wind surfing, and leisurely boating activities that will continue to bring electricity to more homes, fun for all, and employment for the locals.

Published by:
Mitch Kiwan
Owner | Broker
Coldwell Banker Vesta Group Perez Zeledon