The Costa Rica real estate market is an immature market place. What I mean is that we are WAY early in the cycle. If you think back to Boston 200 years ago, I suspect that you’d find that there were large parcels of land for sale there. These were bought and subdivided, and little by little it became what we have now, which in some of the “nice” areas of Boston, the houses go right to the property line and all real estate transactions are sales of property with a building on it.
In my years of selling real estate here, I have sold very few built homes. Most of my deals have been raw land, either large parcels that could be developed in any number of ways: subdividing and selling lots, farming, reforestation, commercial ventures such as a golf course or a restaurant, yoga retreat etc…
The large parcels are rare now, and a lot of the subdividing has been done. We are now strongly, into the re-sale of lots phase of the cycle. We are also seeing more houses on the market.