Attempting to put a stop to this practice, the Costa Rican Realtors Chamber (CCBR) has issued new internal regulations among its associates.
According to them, realtors must now sign a sale authorization agreement with the owner of the offered lot. In it, the parties must agree the terms and conditions of the future sale.
“Many are welcoming the measure, although they know that time is needed to see if what impact it has”, reported Elfinancierocr.com. “For example, Mauricio Céspedes, director of the National Tourism Chamber, believes that the crisis cleaned and corrected the brokerage market, but the effects of this process will only be visible once the real estate market recovers”.
Source: elfinancierocr.com
More on this topic
March 2010
The price of the average lot next to the recently inaugurated highway increased between 25% and 60%.
Realtor Jorge Rosales reported that some plantations that used to be sold at $9 per square meter have doubled their value ($18 per square meter).
El Financiero analyzed several aspects of this situation, including the real estate and the construction materials markets.
August 2009
Foreign investors are interested in purchasing lots, both in the coast as well as the interior of the province of Darién.
Offers for the lots range from $1.000 an hectare, without property title, to $3.000 for terrains with property titles.
" ... Americans and Colombians are the most interested. In the long term, they expect to invest in tourism centers or teak plantations", reports Prensa.com.
January 2011
The real estate developer of tourism projects expects to raise $ 10 million in order to fund construction works in 2011.
Lanzo Luconi, director of Aldesa Investment Fund, the concessionary of the project, said that they still have not defined how many acres will go on sale, as well as the size of the lots.
June 2009
Prices for properties in the main zones of Panama City dropped in 2009 by between 15% and 20% compared to those of 2008.
Figures from the Department of Economic Affairs at the Chamber of Commerce, Industries, and Agriculture of Panama, which were published at Prensa.com, indicate that “in 2008, the cost per square meter for an apartment on Balboa Avenue was, on average $3000, but in 2009 it fell 20% to $2500; Similarly, in San Francisco, the cost per square meter was $1,600, 15% less than in 2008."
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