Highly Improbable That Costa Rica Will Suffer a Mortgage crisis As in The United States
Nación Newspaper
San José, Costa Rica
January 26, 2008

According to local experts given the pattern of local interest rates and the fact that the loan market is tightly regulated, a crisis like the one that occurred in the states is almost impossible. Here the market is more controlled instead of letting the market correct itself as in the United States. Too many factors would have to change here in order for a similar crisis to take place. Oscar Rodríguez, the head of the main regulatory agency in Costa Rica, stated, “interest rates would have to climb, unemployment would have to increase, inflation would have to sore among other factors for a similar crisis to happen here.”


Costa Rica Has the Lowest Unemployment Rate in Latin America
La Nación Newspaper
San José, Costa Rica
January 28, 2008

According to the most recent report by the International Work Organization, Costa Rica has the lowest unemployment rate in Latin America and the Caribbean.  Costa Rica’s unemployment rate of 4.8 percent is below all 18 countries in the region. Costa Rica is followed by Mexico 4.9 percent, Chile 7.1 percent, and Panama 7.7 percent.

U.S. Group to Invest $300 Million in a Hyatt Complex
La Prensa Newspaper
San José, Costa Rica
January 28, 2008

Global Financial Group began a 47-acre hotel project . The project will consist of a 215-room hotel, 100 condominiums,  a 18-hole golf course, spa, gym,  a salt water pool and more.

This is another example of big-time players investing in Costa Rica’s boom.

Hot Local Real estate Market Attracts U.S. Firm
La República Newspaper
San José, Costa Rica
January 28, 2008

Electronic Real Estate Associates (ERA) announced it will expand to Latin America. Costa Rica was selected as the first country where they will set up shop. They plan to set up 30 offices in the country.

New Electric Train for Costa Rica
La Prensa Newspaper
San José, Costa Rica
January 28, 2008

If all goes as planned there will be an electric train between the city of Heredia. Later the system wll be expanded to San Jose’s suburbs of Desamparados and Curridabat.

Studies to Begin in February for the New Airport in Southern Costa Rica
La Prensa Newspaper
San José, Costa Rica
January 28, 2008

The Committee for the Development of the Southern Zone will spend  $300,000 dollars in preliminary studies  for the new airport south of Dominical. The new airport will boast a 2,900  meter long runway and a 5,000 square meter terminal with restaurants, bathrooms and other services.

The new airport is expected to cause a boom in the already popular southern zone

Marina for Puerto Viejo
La Prensa Newspaper
San José, Costa Rica
January 28, 2008

A Dutch/American corporation plans to spend $40 million to construct a marina at Puerto Viejo on the Caribbean coast of Costa Rica. However, there is some opposition to the project. One group states that the marina could adversely affect nearby Cahuita National Park and Gandoca-Manzanillo Reserve.