Is the Real Estate Bubble Going to Burst in Costa Rica? - Canadians and Others Outside of the U.S. Will Help Drive the Costa Rican Market
Posted October 8th, 2007 by Christopher HowardThe percentage of Canadian “boomers” is higher than the U.S., not that the actual numbers are. Canadian baby boomers are a huge group: proportionately 50 percent larger than the U.S. boomers. (Canada has an approximate population of 33.3 million and the U.S. has about 301 million of which there were 76 million boomers). For every five U.S. expatriates in Costa Rica, there is probably one Canadian. My prediction is that Canada will be a large investor in Costa Rica in the near future.
Furthermore, the Canadian dollar is now on a par with the U.S. dollar. Because of this, you can expect more and more of the equity in the booming Canadian real estate market will shift to popular retirement places like Costa Rica. The U.S. has been hostile to some Canadian investors.
Why wouldn’t a lot of equity from housing in say, Vancouver where the least expensive house costs $600,000, shift to Costa Rica ?
