Costa Rica News – Costa Rica is seeing an increase in new home construction. Last year there was a 12% increase over 2014.
The total number of homes built in 2015 was 25,150, according to a report by the National Institute of Statistics and Census.
2014 also saw an increase. Before that, there were three years of stagnation of new homes being built in the country. The records of homes being built are based on municipal building permits.
The homes built last year ranged in price from ¢7 million to over ¢81 million. Most homes constructed, 66%, were less than 100 m².
Housing loans increased by 12%. 72% of housing related credit requested from banks was for the purchase of new homes.
Construction materials cost less and the economy is more stable. These factors are thought to have come into play, leading to more homes getting built.
We are still nowhere near the levels of housing construction seen in 2007.