Price Increases and Pricing Policy Changes

ISSUE #173: Jan. 27-Feb. 2, 2008


Price Increases and Pricing Policy Changes


When I started Residencias Los Jardines, I started writing a weekly news letter —determined to tell all the good, bad, and the ugly. I knew some readers would be interested in the construction process. I expected others might be interested in the lifestyle of two people who had decided to live outside the box. For others, the adventures of lita, the parrot and the cat took on an entertainment saga all its own.

Residencias Los Jardines is finished. We periodically have resales and rental availabilty. Some readers may be interested in this information.

More and more, the content will be dominated by events of our new project, "El Dorado" for short. While the future is always uncertain, I again aim to tell it like it happens —the good, the bad, and the ugly, and that is what follows.

In an effort to make the format more interesting and visually appealing and to field inquiries re. El Dorado, the news letter is now being distributed by Jan Kozak, Marketing Manager, Hacienda El Dorado. I will remain the author.



Effective immediately an across the board price increase of 5% on all units currently marked as available on our website is to take place:

For those prospective buyers that have reserved a unit verbally, they have until Wednesday, February 13, 2008, 5 p.m. to wire their reservation deposits in order to keep the original price.

This is not an ad hoc price increase. Recently, the dollar devalued 4% against the Costa Rican colon and construction costs continue to rise. Hacienda El Dorado prices will from now on be tied to the National Construction Price Index.

Website: We're in the process of moving on to a different company. Some changes are showing up but features are still under development. It's unfortunate and disruptive. I'm not sure why the breakdown ocurred and days of problem solving may or may not yield an answer so we'll just start anew. We are now moving our website from a server in Argentina to Costa Rica. The Optional Upgrades section should be ready (if all goes well) by February 17, 2008.

Marketing: We still haven't cracked the Tico market. We're giving up for now and reallocating are marketing budget elsewhere. 

Sales: We have sold both of the units in building 23, a Cortez Split Ground Floor unit in building 3 and 12, the last Triana Ground Floor Unit on lot 10 and an Upper Level Unit in Ponce Villa in building 2. We have several other discussions underway for Ground Floor Units in Balboa Split Villas in buildings 13 and 18 and hopefully, we should also sell a Balboa Villa Single Family home on lot 14. We also have an ongoing discussion with a prospective purchaser from Spain for a large Cortez Villa Single Family home of 485 square meters (5,220 square feet) on lot 6.  See the attached updated site plan for reference.


Architect: We made a few changes to the site plan. We're now on version 47. What changed. As well as getting the icons the right size and shape, eliminated a lot that we felt would be rather small given the setbacks necessary and when we realized that we need a place for necessary site mechanicals, eg. a pumping station, in that area as well as more parking for the office area, we simply allocated a different use to that area. Fortunately we had not designated a house so didn't have to deal with anything there.

Wall: We continue plodding along on this. We have to get one electrical pole moved and ICE should move another pole which now is prominently standing in the middle of the street and very vulnerable.


For Sale: Nothing available at the moment. I had expected that two units would come on the market in January but they didn't. We continue to await word.

For Lease: Nothing available now.


February 01, 2008
The Lowest Unemployment The most recent report from the International Labor Organization (ILO) points out that Costa Rica has the lowest rate of unemployment in Latin America and the Caribbean.

February 01, 2008
Donors Leave Costa Rica The generous Scandinavian countries, the Agency for International Development, the World Bank, and cooperation from Canada, as well as the Taiwanese, have left Costa Rica with their stories as the leading donors to this Central American nation.

February 01, 2008
Best Tourism Destination
The United States tourist sector chose Costa Rica as the number one tourist destination in Latin America in 2007.

February 01, 2008
Tourism Campaign
The Costa Rican Board of Tourism (ICT in Spanish) will launch an aggressive advertising and marketing campaign, in fears of the impact on tourism of recession in the United States.

February 01, 2008
Engineering Firm
U.S. firm Emerson Process Systems & Solutions is to open in Costa Rica its first center of engineering and design in Latin America.

February 01, 2008
Costa Rica Central Bank Cuts Overnight Rate to 3.25%
By Carlos Barletta Jan. 31 (Bloomberg) -- Costa Rica's central bank cuts its benchmark lending rate and predicted economic growth will slow this year.

February 01, 2008
Costa Rica Files for Arbitration in WTO Gambling Dispute

Action Could Upend U.S. - E.U. Agreement Billions in Issue WASHINGTON, Jan. 31 /PRNewswire-USNewswire/ -- The international Internet gambling dispute, potentially valued at billions of dollars, continues. Costa Rica and Antigua separately filed for World Trade Organization (WTO) arbitration on January 28, seeking compensation from the United States as a result of the U.S. withdrawal of its commitment on cross-border gambling services. The new arbitration requests could potentially derail the settlement for compensation agreed to late last year by the U.S. and the E.U.  

January 30, 2008

Costa Rica's unemployment rate dips to 4.8%

By Alex Leff Tico Times Staff | Costa Rica has broken a long-held jobless rate streak that hovered around 6%, dropping to 4.8% last year, a United Nations agency reported.

January 30, 2008
Allergan to shut Irish plant, shift to Costa Rica

Wed Jan 30, 2008 4:43am EST DUBLIN, Jan 30 (Reuters) - U.S. medical device maker Allergan (AGN.N: Quote, Profile, Research) will close its breast implant factory in the east of Ireland and shift production to Costa Rica, resulting in the loss of 360 jobs.

January 30, 2008
San Jose's La Sabana Park to Get Makeover, Costa Rica
Posted by Thomas (Costa Rica News) With several hew high rise condominium blocks' being built around the edge of La Sabana Park and with a few more in the pipelines to be built, an emphasis has now been put on rejuvenating one of San Jose's most tranquil of places.

January 29, 2008
Costa Rica to Ask for US Trade Delay
By MARIANELA JIMENEZ – 36 minutes ago SAN JOSE, Costa Rica (AP) — President Oscar Arias said Tuesday he will ask the U.S. to delay implementation of a free-trade agreement to give the country time to pass several necessary local laws.

January 29, 2008
Costa Rica's Exports Up
By Paul Smith (Costa Rica News) The final figures are in for Costa Rica's 2007 exports after officials spent the most of this month tallying up the totals for the final month of December to find that the amount of exports had increased by 14%.


Weather: The strong winds have blown themselves out as the cold front passed. We've had normal breezes and sunny days.

Brian, Lita, Hugo, irreverent Vicka, the pigeon toed parrot, and the newbies— Chico and Chica.

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