I predicted a while ago that the dollar would start to lose value versus other countries. Many countries that many of think have fairly robust economies and stable currency have suffered in the past few years. One country that has not suffered has been Costa Rica. Unfortunately for us in the US, that is driving up prices in Costa Rica as the dollar slips against the colon. This is both a good thing and a bad thing. It is a good thing for anyone who'd taken their dollars and bought property in Costa Rica since as the dollar slips, the value of the land does not. In fact those who own property there effectively make money when the dollar slips since the real estate market in Costa Rica is an international market and unless you are selling your property in dollars (most people don't) you are now getting more dollars than ever for your property. I suspect you will quickly see developers in Costa Rica move away from pricing their properties in dollars since as the dollar drops, so does their revenue.
Costa Rica Blog
Tags: currency values, devaluation, Costa Rica Colon, US Dollar devaluation