Costa Rica Real Estate - Lehman Bros. to Offer Mortgages to Expats

U.S. citizens will be the first clients in bank’s foray into C.R.

Making history on the local real estate front, Lehman Brothers Bank has agreed to finance mortgages for foreigners hoping to call Costa Rica their new home.
Lehman is the first foreign bank to provide home financing to non-residents. The Delaware-based institution struck a deal with Stewart Title, which has an office in San José, to facilitate the process on local soil.
“As we look to expand our mortgage lending opportunities outside of the United States, they (Stewart Title) were a natural fit,” said Eric Hibbert, managing director of Lehman's resort home lending group, based in New York.
However, the bank does not mean for the deal to be exclusive.

Costa Rica Ranks 7th on the list of most attractive investments in Latin America

Costa Rica positioned it self as the 7th best place for investment amongst all the countries in Latin America and the Caribbean, indicated studies made by the economic commission for Latin America and the Caribbean (CEPAL).
The $1,889 million achieved by Costa Rica last year, was only surpassed by Brazil, Mexico, Chile, Colombia, Argentina and Peru according to the report.

The study highlighted the relative importance of all the investment achieved by the Central American countries , if related with the internal gross product (IGP)

Jacó, Garabito – With an investment of nearly 300 million colones, the municipality of Garabito, in alliance with entrepreneurs and the Development of Public Works and Transportation (MOPT), is building a highway that stretches through four communities and will benefit more than 2500 residents in the area.
The project in progress brings together the communities of Bajamar , Guacalillo, Cuarros and Lagunillas of Garabito.
The purpose is to convert the rural path into 21 Kilometers of asphalt, with two lanes going in both directions.

Three new golf courses are being planned for the Central Pacific, two of which are nearly ready to begin construction and represent more than $20 million in investment, say developers.

If completed, they would bring the total number of courses in the region to four, including the La Iguana Golf Course at the Los Sueños Marriot Ocean & Golf Resort. Another four courses have been built along the northern Pacific coast in Guanacaste, and at least four more are planned for that same region.