Developers will have new buyers in early 2012 thanks to the rising middle class housing market and a new law that would benefit around 350 000 middle class families.

Housing fell 20% in the first quarter of 2011 over the same period last year. But these indicators could improve in the coming months after the approval of the deferred bonus mechanism to facilitate access to housing for about 350 thousand families.

This bond would generate a new kind of Costa Rica Real Estate consumers, people with monthly income above ¢300 000 but less than ¢1 million, that have faced problems for not being eligible for credit for home or social assistance that allows them a to have real housing solution.

This new law will animate much of the construction market, because there are very few projects with homes priced less than $100 000.

The mechanics of the deferred bonus is based on supporting the monthly repayments during the first five years, increasing the value of homes can be built between 15% and 21%.

Middle-class families that qualify with net income above, which must make a saving by way of premium and get a loan at a financial institution.

For example, a middle class family with a monthly net income of ¢ 960 000 could access a housing solution of almost ¢ 36 million, 15% more than they could hope now without the deferred bonus .

Of this amount ¢1.3 million would be the subsidy that could be distributed to over five years to repay a portion of the monthly payment.

The number of families who aspire to the subsidy has not been calculated but it is estimated that the number of projects dedicated to this type of houses could double over the next two years.

Moreover, this construction boom would not affect the already established developments (with homes of more than $100 000 since they are directed to another segment of the population.