Costa Rica: Lack of Water Affecting Real Estate Development


News from Panama / Monday, November 3rd, 2014

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The problem is not new and there are no short-term solutions in the pipeline to counter this difficulty which has slowed investment in several projects for urban and tourism developments.

According to the Costa Rican authorities “… housing growth has slowed … that’s a fact, and it will remain slow for years, because the investments being made are not enough.”

Yamileth Astorga, academic and researcher who holds the presidency of the Costa Rican Institute of Aqueducts and Sewers told Elfinancierocr.com that “… The slowdown not only allows time for the entry into operation of extension works on various aqueducts, it also allows municipalities to better plan the development centers of their respective counties, in order not to further affect water sources because of disordered growth. ”

Gustavo Araya, president of the Costa Rican Chamber of Hotels added “… We understand the problems of water supply, in turn, we regard limiting of the development of tourism projects as the worst solution. Those damaged are not the hoteliers or developers. They just look for another country. Those who are really affected are the citizens who have the possibility of working in the area restricted.”