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Costa Rica - Improvement in the Construction Sector Reported

Real Estate

The construction sector showed an improvement during the last two months of the 2009, informed theCFIA (Federated College of Engineers and Architects).These kind of constructions go from dwellings for retire people, apartment projects, hotels and even homes for sale.

The registration procedures for new constructions, indicated in a press released, show a recovery after few months of recession in this economical activityin the Costa Rica Real Estate. The lowest point happened on February 2009.

This information corresponds to the registry of professional responsibility for plans of news constructions processed during November and December of the last year. Curiously, comparing to the same first two months of the 2008, November and December of 2009 has more favorable data.

According to the Federated College information, the dwelling sector concentrates the most quantity of square meters registered, especially in the one-family housing.

The total of meters registered annually to this entity is 5,58 million square meters. This amount is 36% less than the total in 2008, year in which the Costa Rican Chamber of construction reached its highest point (concentrated between January and October), and it registered a total annual of 8,79 million of square meters.

Concentrated in San José

The construction growing was given specially in San José. One of each three square meters registered during 2009 corresponded to any Real Estate located in San José. Escazú and Santa Ana are the main lands.

Guanacaste was the most affected sector during last year recession. Only 41% of the total of the 2008, was registered there in 2009.

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