New marina near Limon in Costa Rica

Property investors interested in buy-to-let in Costa Rica should be encouraged by the latest tourist figures which show a healthy increase in the first half of this year.

According to the Ministry of Tourism in San José foreign arrivals increased 16% from the same period last year. That amounted to an additional 133,000 visitors.

The research also shows that most tourists came from the US indicating that this is the market to target in terms of holiday rental yields. A total of 54% were Americans and 17% were Europeans.

A spokesman for the Ministry of Tourism said they were pleased with the figures as there had been concerns that the economic downturn would dent the number of visitors from the US. Fears that increased airline prices because of the higher cost of fuel would similarly dent the European market have also not materialised.

A new marina development near Limon is also being hailed as an opportunity to attract more investment and visitors. It will be the first large scale yacht-friendly resort on the Atlantic coast of Costa Rica.

The first phase is due to start construction later this year and will consist of 200 houses around canals and a beachfront along with a 123 slip marina. As it is outside the hurricane zone it is a safe harbour and will take yachts up to 250 feet.

Called Isla Moin, it is a 20 minute flight from the capital or a two and half drive through the mountains. Eventually the project will include 800 condominiums, villas and estate homes, a luxury hotel and space for 500 boats.

'The Atlantic Coast is still largely underdeveloped. This project will give Costa Rica a new resort and as it is aimed at the boating fraternity it will be able to attract a different group of people. Also south of Mexico there are few deep bay yacht moorings below the hurricane line,' the spokesman added.

The property market is expected to grow by more than 15% in the coming years in Costa Rica according to David Stanley Redfern. 'The large number of tourist arrivals is likely to fetch rental yields of 10% or more,' a spokesman said.

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