A New Type of Property Buying Option in Costa Rica

Uvita Costa Rica Walk-to-the-Beach development Villa Del Sol

Video done by Chuck Chastain of Aerial Media Typically the type of property that I have sold over my years in Costa Rica real estate have been multi-acre, ocean view properties. These have been sold to hardy individuals that have deemed themselves up to the task of taming these jungle laden acres to their will – and then … Read more

State of the Market – Midway 2013

Should I buy or buy and build a house in Costa Rica?

I don’t know the exact percentage but I’d guess at around 90% of the visitors to our offices here start the conversation stating that they would like to buy a house. They are not interested in building. Until recently, this desire went unfulfilled. After looking at the meager house options, the actual base-line interest of the buyer would be exposed: they wanted to own property in The Zone. A house would be the first pick, but barring that, a raw piece of land that they could then build on would be an acceptable fall-back position to fulfill the fundamental interest that they had in owning something here in The Zone.

Most prospective buyers wanted to buy a house. Most prospective buyers bought raw land.

Now things have changed.

Is The Zone at the Tipping Point?

One of the screaming ocean views in the southern pacific zone of Costa Rica.

The place is packed. More and more people who bought land in the past are building or have built (and are happy about it.) Travel & Leisure put The Zone as the #1 place to visit for 2013. What the heck is going on?

I was invited to a house christening last night by Richard & Debby up at Costa Verde Estates. It was a small gathering, made up primarily of migrators, most of whom have just recently built a house or are in the process of doing so. I observed and heard some rather interesting indicators of a tipping point there.

One of the screaming ocean views in the southern pacific zone of Costa Rica.
Richard & Debby: Living the good life in Costa Rica’s southern pacific zone. The view is partial, and is from their home in Costa Verde Estates.
  • numerous statements of an obvious love of Costa Rica and The Zone in particular
  • they were happy with their builder and the process was relatively smooth
  • comments about the resources now available to a home builder in Costa Rica
  • comments about how many people are talking about The Zone back home
  • comments on how many people there are vacationing in The Zone
  • how packed the hotels and vacation rentals are
  • guesses as to what the next 10 years are going to be like here
  • the reality (or not) of the international airport going into Palmar Sur (majority – NOT)
  • the effect of the highway being paved between Quepos and Dominical

There was a palpable feeling of “we are at the tipping point” here.

The facts that alcohol consumption

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State of the Market – October 2012

Houses at San Francisco's Fisherman's Wharf

What is the current market like in Costa Rica real estate?

I get asked this question quite a lot these days. Well, actually that is probably the question that characterizes the life of a real estate agent anywhere – and probably at any time, except when it is clearly known that there is a recession or a boom, neither of which describes the time we’re in right now.

Houses at San Francisco's Fisherman's Wharf

We are currently in the depths of the rainiest time of the year here in The Zone (read: Costa Ballena), the area of the towns around Dominical, Uvita and Ojochal. For some reason this is the “low season” for tourism here. For those of us that live here, it is a delightful time of year. Sure, there are lots of days filled with rain, and at times unbelievable rains. But this is part of the appeal that brought us here in the first place. These rains are also what make the rest of the year so appealing. The southern pacific zone of Costa Rica is one of the lushest areas of Costa Rica, largely due to the fact that it truly is rain forest.

If I were to shop for property here in The Zone, I think that I would consider looking in October. You’d have no problem finding an available realtor, and you’d get to see what life is really like here, as well as be able to see how a potential property handles the rain.

Current Market:
The months leading up to October saw a surge in house sales. There was considerable activity in real estate, almost all of it in the house sector. Lots, on the other hand, not so much.

My crystal ball says

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New International Airport In Costa Rica Aims For “Green” Status

dollar+airplane+scarlet+macaw

The strongest principle of growth lies in the human choice.   – George Eliot

Now that the Costanera Sur (Coastal Highway) has been completed, the new international airport for the southern Pacific zone is the single, most popular, regional question we receive. Most investors want it. Most environmentalists are alarmed by the thought of it. But, everybody wants to know how it is progressing and when/if it will be built.

dollar+airplane+scarlet+macaw
Can money and a safe environment co-exist?

As per a recent report in the July edition of Enlace, a small local newspaper here in the southern Pacific zone, the Costa Rican government just concluded a meeting to determine the future of the International Airport in the area.  They also discussed how this airport would also be the 1st “green” airport in Latin America.

Another Airport Article?

I’m skeptical when I see news articles for the new International Airport in the Sierpe/Palmar area.  There has been talk of building this airport since I moved here in 2006.  Although Costa Rica has developed by leaps and bounds over the last 10-15 years, slow progress is the custom here.  The difference with this recent announcement is

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Interested in Costa Rica real estate as an investment. They primarily live somewhere else, but they own property in Costa Rica for the asset appreciation potential as well as possible rental income. Some just buy and hold (land-bank). For developed properties, the investor has a vacation home to visit as desired.

Migrators spend a regular amount of time in Costa Rica during each year.

Re-locators are those that are looking to move to Costa Rica from wherever they are. They will live full-time in Costa Rica.