The real estate development firm Caspi International plans for a new 14-story oceanfront condominium tower in Costa Rica might be a signal of the re-emergence of the region’s real estate market. This oceanfront development sets a new standard in the world of luxury real estate, not just in Latin America but on the global standards, with its world’s largest penthouse.
The $120 million Genesis Puntarenas will feature a sprawling 68,459-square-foot, 10-bedroom masterpiece called “The Caspi Icon” with three stories of living space, a private helipad, swimming pool and tennis court. The luxury property will include 40 condominiums, 6 bi-level penthouses and 1 master penthouse.
Located along the sandy beaches of Puntarenas, this condominium tower is distinguished by its unique, all-glass facades, which allow residents to enjoy the lush landscapes as an extension to their living space, virtually. The individual units feature top-of-the-line finishes such as marble flooring, quartz countertops and Scavolini kitchens, while the building boasts five-star amenities including a two-story fitness center, infinity pool, spa services, on-site restaurant/lounge, wine cellar, cigar parlor and business center. Genesis Puntarenas is expected to be completed by mid 2010 and will be located in the Pacific Coast city of Puntarenas, about a half-hour drive from the capital city of San Jose via the region’s new six-lane toll road. Units are priced from $473,000 to $3.3 million.
In addition to investing in a home, investors also get a rare chance to own a part of the Costa Rican shoreline. So, for those who want to explore foreign real estate, Latin America offers some of the best opportunities.