Saturday, February 13, 2010
Dear Reader,
Costa Rica elected the country's first female president last Sunday. Laura Chinchilla was a former vice-president. She has promised continuity with outgoing President Oscar Arias' moderate free-trade policies. This is good news for those of us with an interest in Costa Rica's Southern Zone and the "Forgotten Province" of Limon.
One of President Arias's major achievements was the completion of the coastal highway. This opens up an area that we are bullish on (the Southern Zone) to a whole new market.
The Southern Zone has stayed off the beaten track--until now. The scenery is stunning. The beaches are pristine. Its home to numerous parks and reserves, with almost two-thirds of the land preserved. You won't see high-rises or mega-resorts. Instead, you'll come across boutique or family-run hotels, tiny restaurants, and a relaxed pace of life that's easy to get used to.
It's undiscovered because it was tough getting here. Plans are afoot to build a new international airport, but for now, there's a local runway and open-sided hangar (and small Cessna-sized planes, too). Until its completion, the coastal road had sections without any surface, and lunar-sized craters. This lack of access deterred everyone, apart from diehard surfers and sport fishers. Now that the road is finally finished, the Southern Zone will attract mainstream tourists who prefer traveling in comfort.
The coastal highway took 30 years to get from initial planning stages to the official opening last month. Way back in 1979, the then Costa Rican president Rodrigo Carazo Odio planned a coastal highway. Work started on the highway many years later, but ground to a halt in the 1990s. The highway only got back on track three years ago, thanks to President Arias.
President Arias kick-started the final stage of the coastal highway in July 2009. In June 2009, he also kick-started the gentrification of Limon, in Costa Rica's Forgotten Province.
The Forgotten Province is on Costa Rica's Caribbean coast. The water is clear, the sand white, and the pace of life is tranquil. Back from the coast, you have the Talamanca Mountains, with views of the ocean and the surrounding mountains and valleys. The breeze is fresh and the wildlife abundant--70% of the coast is protected.
President Arias allocated $80m for the restoration of cultural buildings in the city of Limon, and improvements to tourist infrastructure. That $80m is a tiny drop compared to the $900 million projected investment from private sources to upgrade tourism amenities and infrastructure in the province as a whole. The ports of Limon and Moin are due for modernization, with Moin expected to double cruise ship arrivals in the next three years from the current 250 arrivals a year to 500.
Two guys with their finger on the pulse of what is happening in Costa Rica's Caribbean, Gill Phelan and William Ogen, shared their reasons for choosing to love and work here, and what 2010 holds for their region, in a webinar recently. Click here to listen to that webinar.
Whilst the election of Costa Rica's new president caught the attention of the world's press because she is female, it caught our attention because it bodes well for continued support and development of Costa Rica's Southern Zone and the province of Limon. The big news two weeks ago, the official opening of the coastal highway, was only reported by local media channels. Real estate investors need to pay attention, however. The new highway is more noteworthy. Once word gets out that the Southern Zone's eco-wonderland is now quickly and comfortably accessible, increasing numbers of mainstream tourists will travel here, fall in love with the area, and want to own a piece of it. That should push property prices upwards...so now is the time to explore this area. Click here to discover how you can do that for only $250.
Margaret Summerfield
Editor's Note: Steve Linder had his own news for us this week. He normally runs one Southern Zone chill weekend trip a month, but has already sold out two trips in March. Rather than turn anyone away, Steve added a third set of dates (March 13-16). Steve says the third trip is selling fast--so reserve your space now.
You might also be interested in:
Costa Rica’s South Pacific Highway is Now Open
Posted Under:
costa rica, appreciation potential
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