In the last few years Costa Rica has worked in attracting new airlines to offer service in the country. So far this year the Tourism Institute (ICT) confirms it has generated 96,501 additional seats thanks to the arrival of new airlines and the increase in the frequency of flights to and from Costa Rica. Minister of Tourism, Mauricio Ventura, explained that Costa Rica has created its own strategy for the attraction of new airlines, by demonstrating that it is an ideal and profitable destination. “We have clear objectives: more seats, new markets, and the positioning of Costa Rica as a tourism destination; these actions, however, have to come hand in hand with the actions of the private tourism sector which focused on offering a differentiated product and assured the quality of the destination”, stated Ventura.
In a matter of two years the country went from having one direct flight to Spain through Iberia, to 8 direct flights from Europe: British Airways and Thomson Airways from UK, Condor from Germany, Air France, Edelweiss from Switzerland, KLM from the Netherlands and Lufthansa from Germany. This year the announcement of direct flights between Portugal to Costa Rica was made and this will generate 3,268 new seats for this market. Also, KLM added another flight on Sundays from January 28 to March 4 representing 1,764 more seats. Edelweiss also confirmed a third flight as of September 30 adding 3,768 more seats while Air France is flying twice a week all year round. Alaska Airlines will offer flights on a daily basis for the months of June, July and August. LATAM airlines, company that began operations just about a month ago in Costa Rica offering flights to Lima, Peru three times a week has already confirmed it will add another flight as of March this year.
New airlines are expected to start operating in Costa Rica this year connecting to Asia, Europe and Latin America. So, how does this relate to what is happening in the real estates market, especially on the Ballena Coast in the southern zone of Costa Rica? Let’s analyze the impact. More and more people are looking for the “GREEN”; which is what the rainforest infused Ballena Coast has to offer. We have seen more Europeans here than ever before. Not just as tourists, but as purchasers of real estate. Homes, Lots, Commercial Property and revenue generating opportunities, all have been sought after. New home construction is also booming in the area. Right now, it is still somewhat of a buyers market but that is changing quickly as a result of the influx. Indeed, the anticipated surge of new people discovering Costa Rica and the Ballena Coast is fueling the market, which is showing signs of rising prices. For potential buyers, now is the time to make a move if owning property in Costa Rica is on your priority list. If you are an owner of property on the Ballena Coast, then now may be a good time to call us for an appraisal and talk about listing your asset with our team of professionals. Bottom line is that a shift is coming, and it is up to you to make the next move. Pura Vida is waiting.
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