Homes in parts of the Caribbean and Central America could offer a refuge from the global credit crunch thanks to a relatively low cost of living, real estate sellers have said.
CR Communities, which specialises in Caribbean property projects in Costa Rica, said the country’s stable political condition also meant homes can be bought securely.
The company has just released property plots in the new Pacific Views scheme, Magallanes, and is offering off plan prices for a limited time.
Executives said the property could appeal to retirees and people hunting for second homes in the sun.
Company president Preston Gitlin said: “With the global economic turmoil, people are now more than ever discovering how cost-effective it is to retire here.
“Our clients have had successful careers in North America and Europe and realise the benefits of stretching their savings twice as far by living in Cost Rica, without sacrificing their way of life or standard of living.”
Available property lots at the Pacific Views project offer an of average 1.25 acres and are going for the limited-time, pre-construction prices of $58,000 to $102,000.
The site is at a height of almost 4,000 feet and offers space for 13 homes, just a stone’s throw from an existing company development called Pacific Hills.
The company has named ESFERA as a recommended design specialist for homes on purchased lots to “ensure a consistent degree of quality”.
Elsewhere homes east of Costa Rica in the Caribbean and in wider Central America continue to be a draw for investors thanks to tax breaks in countries like Belize and expected appreciation on the likes of Barbados.
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