San José, Costa Rica (APR 14, 2016) The Costa Rican government has demonstrated its commitment to attract and grow Chinese investment in the country with a new treaty. LX Costa Rica, the country’s leading luxury real estate agency, is following suit with a stronger international presence and support for Chinese-based investors.
In March, the Legislative Assembly of Costa Rica approved a bilateral treaty for the promotion and protection of investments with the People's Republic of China. The China-Costa Rica treaty demonstrates the Costa Rican Government's commitment to promote Chinese investment in the country, running the full gamma of business and personal investment including luxury real estate purchases. Likewise, LX Costa Rica has begun working with its international network to offer a full range of services for China-based investors, including mandarin-speaking clients.
LX Costa Rica is already reaching the top Asian markets through international partners. Together with Luxury Portfolio International® and the largest China-based real estate website, Juwai, LX offers a Chinese-language portfolio of Costa Rica’s top residential properties, with an average value of 8.6 million RMB (¥).
Over three dozen LX Costa Rica luxury properties are currently promoted to thousands of Chinese buyers each day from over 315 cities throughout China, as well as major Chinese communities in Taiwan, Hong Kong, Malaysia and Singapore.
"The global Chinese investor and elite home buyer is a huge opportunity for real estate sellers in Costa Rica. Chinese consumers represent about one-third of the global luxury market and they are already very active in Costa Rica. LX is building out the necessary relationships to reach these Chinese investors and provide a seamless service experience as they search for their luxury home in Costa Rica," said Andrés Riggioni, LX Partner & CMO.
Costa Rica is the only country in Central America with active diplomatic relations with China, hence the enormous potential to attract investment to the country.
"Having an agreement to protect investments with a country of the size of China is of great importance to us. China is one of the strongest and the most strategic markets in the world. It offers numerous business opportunities for us," said Alexander Mora, Foreign Trade Minister of Costa Rica.
The Costa Rican Ministry of Foreign Trade has published data indicating that in 2014 registered Chinese investment in Costa Rica was already growing faster than the previous two years combined, and the relationship has grown since then. Private Chinese investment in luxury homes and properties in Costa Rica is expected to grow at a similarly fast pace.
About LX Costa Rica
LX Costa Rica (www.lxcostarica.com) is the leading luxury real estate agency in Costa Rica’s capital. The agency boasts the largest curated collection of residential luxury properties with an average historic listing of over $1,5000,000 and an impressive client base of UHNWI, including former presidents, top executives, leading NGO directors, and media personalities. LX Costa Rica is consistently recognized for their personal service, a deep understanding of the luxury real estate market, and discreet access to San Jose’s finest portfolio of luxury properties. LX offers award-winning luxury marketing and sales and is an active member of Leading Real Estate Companies of the World and Luxury Portfolio International.
About Luxury Portfolio International®
Luxury Portfolio International® (LuxuryPortfolio.com) is the luxury face of Leading Real Estate Companies of the World®, the largest global network of premier locally branded companies dominated by many of the world's most powerful independent luxury brokerages. Luxury Portfolio International attracts a global audience of visitors from over 200 countries/territories every month and marketed over 50,000 luxury homes last year to over three million high-net-worth visitors.
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