Thursday 7 December 2023

More than a million people rent housing in Costa Rica

Paying the bills


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7 December 2023 - At The Banks - Source: BCCR

Paying the bills


QCOSTARICA — More than a million people live in rented homes in Costa Rica, according to an analysis carried out by the Centro de Estudios del Negocio Financiero e Inmobiliario (CENFI) – Center for Financial and Real Estate Business Studies).

According to the study, families with monthly incomes of ¢475,000 to ¢775,000 (US$879 to US$1.435, at today’s exchange rate) do not have access to credit due to the housing supply currently generated in the country; Houses worth more than ¢50 million colones.

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Melizandro Quirós, Executive Director of CENFI, explained that it is necessary to improve access to housing for low – and middle-income families, with offers of less than ¢40 million colones.

Earlier this year, in January, CENFI said that the price of housing rentals will continue to rise this year.

At the time, Quirós commented, there was also increased demand from families looking for places to rent.

Both conditions continue to this day, as the price of rentals has skyrocketed in certain areas, and the availability of housing rentals dropped.


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