Cerro Grande Estates Blog

New Liberia Airport Terminal Opens

admin — Fri, 13 Jan 2012 20:21:23 +0000

The Liberia airport, voted the best secondary terminal in Central America, opened its doors of its new terminal to its arriving visitors on Thursday.

Some nine months after its scheduled opening, U.S. passengers Robin and Elizabeth Brown, owners of a house in Playa Hermosa, were the first to use the new facilities.

The couple arrived at 6:50am on a flight from Miami.

“It seems like a nice airport. It is quite large and comfortable that the old one. I congratulate you”, were the words of Dutchman Carlos Yepes who flew in from Houston, Texas.

It is hoped that the new terminal will boost tourism in the area.

Allan Flores, the ministro de Turismo (minister of Tourism), said the inauguration coincides with the peak tourist season in Guanacaste.

The airport, in addition to being close to the beaches of Guanacaste, will also benefit the areas of Monteverde, La Fortuna and Arenal, Montezuma and possibly even the Central and South Pacific areas.

“The opening of the new terminal comes just in time when Guanacaste claimed her, and we expect to have a record year in the number of tourists to the country”, said presidenta Laura Chinchilla.

From January to November last year, a total of 229.045 tourists arrived in Costa Rica by way of the Liberia airport, representing a 15.4% increase over the same period in 2010.

The cost of the new terminal is an investment of us$35 million dollars. It includes 17 immigration posts (10 more than at the old terminal) and has a capacity to handle up to 1.500 passengers per hour, and four flights at the same time.

With the new terminal the Liberia airport has been upgraded to a Class B from F.

Costa Rica’s Real Estate Market Update

John — Wed, 15 Jun 2011 20:39:07 +0000

Costa Rica was one of the countries whose real estate market plunged when the recession hit. But now Costa Rica’s housing market is reviving, though it is nowhere near what it was during the 2006 to 2007 boom.

“There has been a timid awakening in selling homes and condos on Pacific beaches, while the GAM [greater San José metropolitan area] residential sector has been growing at a steady pace, with an excellent range of properties,” according to Aleyda Bonilla, president of the Costa Rican Chamber of Real Estate Brokers.

Adds Playa Hermosa First Realty’s Les Nunez: “Middle- and lower-priced homes… are really starting to move now, as opposed to the top end. So, anything between us$300,000 and under, you’re getting good inquires and even purchases now.”

Real estate transactions in Costa Rica are typically quoted in US dollars. The Costa Rican colon decreased in value during 2010, from us$1 = 557 colones to us$1 = 493 colones, so real estate has become cheaper from the Costa Rican point of view.

San Jose, parts of Central Valley , the Central Pacific region and Guanacaste are picking up. Atenas in western Central Valley is becoming popular. “Gringo-style” homes are selling in Atenas, especially modestly priced ones which do not exceed us$200,000.

The improvement in housing demand has boosted construction and the mortgage market. Private construction rose 0.7% y-o-y to February 2011 – the first private construction index rise in 25 months. Housing loan volumes also increased 6.38% y-o-y to February 2011.

Costa Rica has some of the best housing stock in Latin America. Less than 10% is considered to be in bad condition. 74% the total housing stock is owner-occupied, and 17% is rented.

Positive outlook for Guanacaste
For years Guanacaste was a wild woolly territory, hard to get to, the domain of backpackers and surfers who appreciated its climate and stunning beaches.

Then Guanacaste took off. The real estate boom in Guanacaste began after the opening of the Daniel Oduber international airport (in Liberia) in 2002 and the opening of the Four Seasons resort, part of the 2,300-acre (9.3 sq. km.) us$400 million Península Papagayo, indisputably the most luxurious development on the coast.

The resort was tagged by Travel & Leisure as among the 500 Best Hotels, the top resort in Latin America. Beachfront and ocean view condominiums in Four Seasons resort are priced from us$1.4 million to us$2.5 million. Houses sell from us$3 million to us$7.5 million.

Another catalyst was the start of direct flights into Liberia from the United States and Europe..

Some of the most luxurious and high-priced properties are available here, though there is a wide range of condominiums in Guanacaste on a price range from us$100,000 to us$750,000, depending on location.

Aside from the Four Seasons resort, there are three more hotels, including a Barcelo hotel. More than 1,000 luxury homes are expected to rise in Peninsula Papagayo. A private 18-hole Jack Nicklaus designed golf course is also scheduled to open in 2014, one of the three golf course attractions planned in Peninsula Papagayo along with the currently existing 18-hole Arnold Palmer signature golf course.

Also under development is the us$15 million La Marina Papagayo. La Marina Papagayo’s Phase I was opened on January 13, 2009, and includes 180 boat slips accommodating private boats ranging from sport fishing boats to mega yachts. The marina is expected to have 370 slips upon its completion.

Tamarindo, the biggest coastal town in Guanacaste, is a hit among tourists, especially surfers. It has the most developed tourist infrastructure in Guanacaste. Due to its popularity, Tamarindo property prices have risen, and average homes and condominiums sell at prices ranging from us$200,000 to us$700,000

Located at the southern part of Tamarindo is the Hacienda Pinilla, where hundreds of condominiums and villas are being built around 4,500 acres of nature preserve by the Atlanta-based owner, Hoover Gordon Pattillo, who bought the land as a family vacation homestead 30 years ago. Over two weeks in 2008, Hacienda Pinilla sold 43 Spanish colonial condominiums for us$580,000 and up – without any advertising. Nowadays, ocean view condominiums sell in Hacienda Pinilla at around us$725,000 to us$1.1 million, and houses range from us$840,000 to us$2 million.

The us$35 million expansion of the Daniel Oduber Quiros airport is expected to finish later this year, allowing it to accommodate around 1,500 passengers, reaffirming Guanacaste as Costa Rica’s second most important airport.

The area’s promoters have taken to calling it the new Gold Coast. Guanacaste is low in humidity and has just two seasons- the Green Season, May to November when there are morning or afternoon showers that clear to provide spectacular sunsets, and the High Season, with beautiful sunny days from November to May.

Trip Advisor Ranks Tamarindo Beach in Top 10 Beaches

Nancy — Thu, 07 Apr 2011 20:41:29 +0000

Top 10 Beaches in Central & South America

http://www.tripadvisor.com/TCBeaches-g291958-cTop10-Central_America.html

Costa Rica Retirement

John — Fri, 25 Mar 2011 23:22:59 +0000

Costa Rica lives up to its reputation

Submitted by Cozta Rica on March 25, 2011 – 9:19 amNo Comment | 258 views

Costa Rica land has an outstanding reputation for being a prime retirement heaven, with beautiful climate, accessible healthcare, citizenship rights for foreign owners and affordable real estate. The oldest democracy in Latin America is the pride and joy of Costa Ricans; that and many other amenities such as the low cost of living has convinced thousands of retired Americans to invest in the country’s real estate market. Costa Rica car rental.

Costa Rica real estate is really diverse, just like the country itself, small but full of surprises. The biodiversity of the country is worldwide known and attracts millions of visitors every year. Properties can be found near both the Atlantic and Pacific Oceans and

Costa Rica real estate is like no other in the world because of the natural beauty that surrounds it.
If you want to retire in Costa Rica or simply invest in real estate, you can choose from beautiful city neighbourhoods in regions like Escazú, Santa Ana or Rorhmoser, beautiful beaches in Guanacaste and Limón, or real estate in the mountains where the weather is fresh and the views are amazing. Car rental Costa Rica.

If you enjoy mild temperatures that range between 70 and mid 80s F, properties in San Jose city is for you, but you can also enjoy the year-round warm weather of the beach, which usually averages between 80 and 90 F. These temperatures allow people to forget about air conditioning or heat and just leave their windows open all day long. Costa Rica real estate can range between $80,000 and million dollar mansions and estates, so it’s your choice if you want to live the simple or the rich life in paradise, or invest in a moderate or aggressive way in Costa Rica real estate.

Retirement is not the only excuse you can have to invest in Costa Rica, because there is no restriction that says that you even have to be in the country to own properties, so if a vacation home is what you want, Costa Rica real estate is the choice for you.

With the world in crisis, Costa Rica real estate is still a good investment and retiring in Costa Rica can stretch your money a long way. Two thousand dollars can provide you with a stable and comfortable life, you can hire a maid easily and groceries and utilities are considerably less expensive than in the U.S.A or Canada.

The options to make a good investment in Costa Rica are endless, with outstanding restaurants all over the country, year-round outdoor entertainment and beautiful sites all over. Rent a car in Costa Rica.

So remember that Costa Rica is waiting for you to make your move, you could live in paradise if you choose carefully and take your time while looking for real estate.

Self Directed IRAs to Purchase Costa Rica Property

John — Fri, 18 Mar 2011 22:49:45 +0000

After seeing so much wealth disappear in the stock market over the last
few years, many people are looking at real estate as an investment
alternative. The U.S. stock and bond markets, hindered by political and
economic uncertainly and the war against terrorism, combined with
corporate scandals and corruption (i.e. Enron, Worldcom etc.), resulted
in many investors seeing their retirement accounts cut in half. While
stocks were going nowhere after tanking in 2000, real estate prices
logged their biggest rise on record between 2001 and 2005, with an
average annual gain of 19%, according to the National Association of
Realtors.
Compare the return you have received on your stock/bond investments
over the same period to the gains produced in real estate. Who hasn’t
seen a real estate investment you could have bought for pennies “back
then” and can’t afford to buy now? How can you be satisfied with
mutual funds breaking even or being slightly profitable when real estate
can easily provide you with double-digit returns?
After completing a successful real estate transaction, do you ever wish
the profits weren’t taxable, giving you more money to do the next deal?
How many more deals could you do if you didn’t have to give away a
portion of you profits to the tax man?
A little known option for investing in real estate is using your
Individual Retirement Account. So how do you do it? You simply
complete a tax-free rollover of your existing IRA from your current
retirement account custodian to an IRS approved custodian that allows
you to have a Self-Directed IRA. These custodians are commonly
called “Self Directed IRA Administrators”
Investing in real estate within an IRA is not a new concept. In fact,
there are more than $7 trillion dollars held in retirement accounts with
3% of those retirement accounts currently in Self-Directed IRA’s with
real estate holdings. Real estate investment within your IRA is a viable,
productive alternative to mutual funds, stocks, bonds and your typical
brokerage accounts. Which do you know more about: stocks or real
estate? If you answered real estate, then consider using your expertise
to boost your retirement funds.
Are you asking, “Why haven’t I heard of this before?” Who would tell
you, your stock broker? They will only let you invest your IRA in
investments their firm offers. The traditional investment community
has control of over 97% of retirement accounts, and they have been
making a great living off your accounts. Why would they want to let
you know about alternatives that they would not be able to charge for?
They make commissions, brokerage fees, management fees and
account administration fees handling your stock, bond and mutual fund
investments.
What types of retirement accounts can be moved into a Self-Directed
IRA? That’s easy; traditional IRA’s, SEP IRA’s, Roth IRA’s, 401K’s,
403B’s, Coverdell Education Savings, Qualified annuities, profit
sharing plans, money purchase plans, Keoghs, government eligible
deferred compensation plans. In other words, virtually any and every
retirement account! Once you have opened your Self-Directed IRA,
you are free to use those funds to purchase raw land, improved real
estate or a variety of investments previously unavailable to you with
your traditional retirement accounts. The rules governing allowable
investments by Self-Directed IRA’s preclude an IRA’s investment in
life insurance, collectibles (artwork, antiques, coins, gems etc.) and SCorporations.
Virtually, all other types of investments are permitted,
and thus the range of possible investment choice is nearly unlimited.
Consequently, your Self-Directed IRA can purchase any form of real
estate.
As to be expected, there are important rules and regulations to follow.
However, they are very simple and reasonable. Some of the most
notable are: 1) the real estate must be an investment property, not a
personal residence for you or family members. 2) You are not allowed
to personally guarantee a loan for your Self-Directed IRA; you can
however use a commercial non-recourse loan. 3) When you buy real
estate the seller cannot be a disqualified person. A disqualified person
is yourself, your spouse, your children, your parents or a corporation in
which you or any other disqualified person owns a 50% or greater
beneficial interest. 4) The Self-Directed IRA is responsible for all
expenses related to the asset for the life of the investment, additionally,
any income generated by the asset must be received by the Self-
Directed IRA. Although some additional rules apply, the
aforementioned are the most pertinent. Not to worry however, a good
Self-Directed IRA Custodian will ensure that you are always in
compliance with IRS rules and regulations.
Some additional features of a Self-Directed IRA include the ability to
partner with other individuals, their IRA’s, any other qualified or
disqualified individual, and even yourself (with your personal nonretirement
funds). The Self-Directed IRA is responsible for all
expenses related to its asset for the life of the investment.
If your Self-Directed IRA is partnering with another investor, each bill
must be paid according the initial established ownership ratio. As
previously stated, it is acceptable for your Self-Directed IRA to partner
with personal funds or disqualified persons. However, it is extremely
important to remember that the ownership percentages must be kept
constant throughout the deal and all expenses as well as income must
be split according to that ratio. It is also important that the dollar
amounts be proportional to percent ownership among all qualified and
disqualified persons. Because all property expenses, including taxes,
insurance and repairs, must be paid from finds in your Self-Directed
IRA, you’ll need liquid funds available in your account. All income
generated from the property will be deposited in your Self-Directed
IRA account so you can use that money to cover costs. Additionally,
you can make annual contributions to your Self-Directed IRA
according to federal guidelines.
Investments in your Self-Directed IRA are NOT just limited to
individual parcels of land and improved real property. You can even
purchase shares of a Limited Partnership, Land Trust, C-Corporation,
Limited Liability Company, TIC (tenant in common interest), REIT’s
and more! For the long term investors out there, you will be happy to
know that you can even choose to withdraw real estate from your Self-
Directed IRA and use it as a residence or second home when you reach
retirement age. At that time, you can elect either to have the Self-
Directed IRA sell the property, or take an in-kind distribution of the
property. Under that arrangement, your Self-Directed IRA custodian
assigns the property title to you. You will then have to pay income
taxes on the current value of the property (at your then current tax rate,
presumably much lower than during your working years). These taxes
are just as you would pay for any distribution from an IRA, regardless
of whether the asset is real estate, cash, stocks, bonds or mutual funds.
However, if the property was held in a Self-Directed Roth IRA, you
won’t own taxes at all! This makes a Self-Directed Roth IRA
extremely attractive if you anticipate that your real estate investments
may one day become your retire home.
Most IRA’s are neglected and left to languish at the direction of others.
The typical individual makes his or her annual $4000 tax-deductible
contribution, leaves it to their stockbroker to invest and then complains
at the end of the year about the poor returns. You have the power to
take control of your retirement, to direct your IRA to the level of
risk/return that fits your comfort zone and to make it grow at a rate that
will cause it to be self-sustaining in your retirement years.
In addition, investing in real estate for your retirement may serve as a
means to diversify your retirement portfolio. You now have a way to
hedge against the cyclical changes in the stock market, bonds, the
economy, and bank and government based investments. Land and
property are loosely correlated to the stock market; the value of real
estate tends to rise when stocks are going down. Real estate is the
ultimate hard asset. There are no corporate and accounting scandals. It
is a tangible asset, and not just a paper certificate. There is great
downside protection because real estate inherently maintains value, as
contrasted with stocks, where the entire investment could go to zero!
Now consider all of these factors, the current domestic and economic
data, the Baby Boomer demographics and the need to diversify out of
the falling dollar and into appreciating hard assets. The choice is clear.
Investing in the right international real estate is a smart way to
diversify your retirement portfolio! And, investing in Costa Rican real
estate is your best option!

Costa Rica Tourism up in 2011

John — Fri, 18 Feb 2011 17:49:40 +0000

Posted: Friday, February 18, 2011 – By Rommel Téllez

More travelers and more foreign investors could make 2011 a turnaround year for Costa Rica’s top income generator.

In January, tourism visits in the northern province of Guanacaste, partly a bellwether for Costa Rican tourism trends, increased by more than 28 percent over the same month last year. That figure represents 31,637 foreigner visitors, a local record for the province. The previous high was 29,206 visitors in March 2008. Most were from U.S., Canada and the U.K.

Currently, 42 direct weekly flights land at the Daniel Oduber Quirós International Airport, based in Liberia. This is an increase of 14 percent in the past year, according to the Civil Aviation Authority.

Apple Vacations, Air Canada, TUI and first choice are among the flight companies that now include Guanacaste as a destination.

“It seems that this is going to be great year for the industry,” said Tourism Minister Carlos Benavidez.

Last year, medical tourism generated $250 million in revenue for Costa Rica’s health services industry, according to Massimo Manzi, executive director of the Council for International Promotion of Costa Rica Medicine, or Promed (TT, Jan. 28). In December and January, growth reached 10 percent.

Earlier this month, several representatives from big U.S. insurance firms visited Costa Rica to inspect local hospitals and clinics. They’ll use what they find to fine-tune a new insurance product for corporate clients that could pave the way for even more health-care options for international patients.

The group of experts included insurance brokers, cost analysts and political advisers. During the tour of medical centers, each verified that sites comply with international safety and quality regulations.

No Artificial Ingredients Video

John — Sun, 02 Jan 2011 18:41:35 +0000

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CIMA hospital has broken ground in Liberia

John — Thu, 11 Nov 2010 18:05:36 +0000

November 25, 2010

‘Pacific Plaza has just begun construction just outside of the Liberia airport, the CIMA Hospital and Medical Plaza will be the first two buildings to be built.

After being given the starting signal on November 2nd, the construction officially began on the first complete medical services community in Costa Rica, located in Carrillo Guanacaste 10 KM from the Daniel Oduber Liberia International Airport.

The first phase will have a total built area of 16,000 square meters (160,000 square feet) and the construction will take approximately 12 months to complete. The hospital will be managed by the CIMA corporation, will feature a class A medical services hospital, and the medical center will have room for 40 medical specialty offices and some convenience stores.

“The initial term of the work of Pacific Plaza, embodies the commitment and success of the management over the past two years, we look forward to the opening of the project and the implementation of CIMA Guanacaste” … noted Mr. Bennet, Director General of the Hospital CIMA in San Jose.’

38 Reasons Why Move to Costa Rica

John — Wed, 25 Aug 2010 15:42:08 +0000

Autor: AE Costa Rica Real Estate Content Writer

~ 25/08/10

By Christopher Howard M.A.*, www.liveincostarica.com

(1) Year-round spring-like weather in the Central Valley. One of the most ideal climates in the world. No heating or A/C needed in this area, so you will always feel comfortable

(2) An unblemished international image and reputation. How often doe you hear bad news about Costa Rica? Only good news! As the say here, “Solo bueno,” which means “only good.”

(3) Latin America’s oldest democracy

(4) NO army or terrorism. Costa Rica has NO enemies.

(5) Excellent health care at a fraction of the price you would pay at home. Dentists are cheap, too. Many doctors and dentists are trained abroad. Costa Ricans who reach the age of eighty have the longest longevity rate in the world beyond that age. This is mostly due to the country’s lifestyle. Many a foreigner who has moved here claims that “they have added years to their lives and life to their years.

(6) Good real estate investments if you do your due diligence and buy at the right price. In 2006 Costa Rica was considered one of the world’s best emerging real estate markets. Many properties are in locations with breathtaking panoramic views. You would pay millions of dollars for these views in some parts of the U.S. Costa Rica is a prime warm-weather destination like Hawaii and retirement haven which will drive the real estate market in future years.

(7) More North American residents proportionately than any other country outside of the U.S. They can’t be wrong!

(8) A tightly-knit expat community

(9) The ONLY country in Latin America with a time-tested organization (Association of Residents of Costa Rica or ARCR) to help you with everything you need to make the move from A to Z.

(10) An excellent quality of life. Costa Ricans have one of the highest life spans in the world and the country boasts around 900 centenarians.

(11) Good communications with high-speed internet in may areas. Cable and satellite television are available with all of your favorite programs from the United States.

(12) Tax savings – The financial benefits of being a U.S. citizen living abroad is attractive because you can enjoy the tax-free foreign earned income benefit of more than $90,000 per year.

(13) Opportunities for savvy entrepreneurs

(14) Friendly people with a great sense of humor and a country populated by one of the “happiest people in the world.”

(15) Many people but not everyone speaks English.

(16) 1000s of activities to stay busy and happy so you won’t get bored

(17) A nature lover’s Disneyland and the perfect place for those who like adventure tourism. Volcanoes and rain forests are near the Central Valley and the Caribbean and Pacific Beaches are only a few hours away.

(18) Affordable hired help

(19) The country’s sheer beauty

(20) Fantastic beaches with warm water. No wetsuit is needed here!

(21) One of Latin America’s prime tourist destinations according to Travel Weekly magazine.

(22) Many products and services from the U.S.

(23) A huge variety of inexpensive fruits and vegetables available all year

(24) Affordable transportation (buses and taxis). You won’t really need a car here.

(25) Much less expensive than living in most countries

(26) Exotic flora and fauna

(27) Low property taxes ( A quarter of one percent of the home’s listed value up to $200,000)

(28) A variety of local restaurants, offering some of the best chicken and fish, plus, Japanese, Chinese, Thai, Indian, Italian, Mexican, typical Costa Rican food and more.

(29) Convenient Location. You can be in Miami or Ft. Lauderdale in under three hours.

(30) Beautiful and devoted women.

(31) Low violent crime rate compared to most places. I wouldn’t be living here if I thought my life was in danger. Crime is on the rise world-wide and Costa Rica is no exception. NO country is entirely crime free nor is immune to the increasing crime rates that you find almost everywhere in the world. Furthermore, the news media likes to sensationalize crime in every country.

(32) You want to experience a new culture and people

(33)) You want to do volunteer work like teaching English to school children or contribute something to the country in another way

(34) You want the life-long experience of learning a beautiful language to open a whole to new world of possibilities

(35) You want a simpler lifestyle

(36) You want start a new and exciting life abroad

(37) Costa Rica is a place for those who believe and are willing to seek something better in this world and their lives.

(38) Plus so many more intangibles

* Christopher Howard M.A.
Relocation/Retirement Expert, Author &

Costa Rica: The Happiest Place on Earth

John — Sun, 17 Jan 2010 15:58:41 +0000

Costa Rica: The Happiest Place on Earth

Written by Travel Department

Sunday, 17 January 2010 10:06

(CNN) — Forget Disneyland! Costa Rica is the happiest place in the world, according to an independent research group in Britain with the goal of building a new economy, “centered on people and the environment.”
Costa Rica is known for its lush rain forests and pristine beaches.

Costa Rica is known for its lush rain forests and pristine beaches.

In a report released Saturday, the group ranks nations using the “Happy Planet Index,” which seeks countries with the most content people.

In addition to happiness, the index by the New Economics Foundation considers the ecological footprint and life expectancy of countries.

“Costa Ricans report the highest life satisfaction in the world and have the second-highest average life expectancy of the new world (second to Canada),” the organization said in a statement.

They “also have an ecological footprint that means that the country only narrowly fails to achieve the goal of … consuming its fair share of the Earth’s natural resources.”

The Central American country, tucked between Nicaragua and Panama, touts its lush rain forests and pristine beaches. Its president, Oscar Arias Sanchez, won the Nobel Peace Prize in 1987 for trying to help end civil wars in several Central American countries.

This year’s survey, which looked at 143 countries, featured Latin American nations in nine of the Top 10 spots.
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* iReporters show off colorful Costa Rica

The runner-up was the Dominican Republic, followed by Jamaica, Guatemala and Vietnam.

Most developed nations lagged in the study.

While Britain ranked 74th, the United States snagged the 114th spot, because of its hefty consumption and massive ecological footprint.

The United States was greener and happier 20 years ago than it is today, the report said.

Other populous nations, such as China and India, had a lower index brought on by their vigorous pursuit of growth-based models, the survey suggested.

“As the world faces the triple crunch of deep financial crisis, accelerating climate change and the looming peak in oil production, we desperately need a new compass to guide us,” said Nic Marks, founder of the foundation’s center for well-being.

Marks urged nations to make a collective global change before “our high-consuming lifestyles plunge us into the chaos of irreversible climate change.”

The report, which was first conducted in 2006, covers 99 percent of the world population, the statement said.

Ney York Times Article on the same subject – Costa Rica the Happiest People ion Earth

Last Updated on Sunday, 17 January 2010 14:41