Construction in Costa Rica up 22% over last year
Buzz | Cozta Rica | November 11, 2008 at 7:34 amDespite a worldwide economic slowdown, Costa Rica Real Estate news reports that the Costa Rica Chamber of Construction boasts that construction in Costa Rica is not in crisis, but up 22% over 2007.
Earlier this year, the Chamber of Construction had projected that by the end of 2008, construction in Costa Rica would be between five and six million square meters. This represents an increase, which would range between 20% and 30%, compared with 2007. The calculation carried out by the CCC is based on the number of applications for construction permits, which are recorded on an annual basis by the National Institute of Statistics and Census (INEC).
Reports of an annual increase in construction comes at a time of great uncertainty in the real estate sector since the media announced stoppage of several prominent Costa Rica real estate projects, restriction on credit policies, and increased rates of unemployment.
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Costa Rica, despite the crisis in economic growth. The real estate in Costa Rica is still in a good position. This is due to attraction and splendid beauty of Costa Rica. Since there is a lots of improvement in construction department, which keeps the revenue of the nation in a good position.