Excess Supply in Costa Rican Office Complexes

©image: Robert Scoble

Office parks were the hardest hit in 2008, in comparison with other sectors of the real estate market such as industrial and commercial, due to an increased supply of new buildings and the effects of the international crisis.

El Financiero of Costa Rica published an article based on the quarterly report from the real estate industry developed by Colliers International: "Office complexes had an annual increase of 20% in available area (totaling 753,548 square meters) but rental prices fell by 12% to $14 per square meter."

Source: elfinancierocr.com

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