What is the outlook on property value in Costa Rica?
Just some points that we consider to be important.
If you are looking at developing land in Costa Rica here are a couple of things to consider:
a) Title of land. Is the title clean? You can get title insurance there. (Hauser Consulting can provide a due diligence on the property).
b) Zoning. Can the land be developed as you want it to be? There is not a lot of zoning in place in Costa Rica, although municipalities for the past five years have started to put resources behind zoning. Each case would need a proper study.
c) If it is in the beach town is it titled or concession land? There’s a big difference. Contact Us for further information.
d) Do you know how to develop land there? Is the land on a public road? An easement? Are utilities nearby? Will you be building a development there? If so, you’ll need SETENA and INVU permits.
e) Who will be your in-country person to oversee everything? Let me know if you’re interested in this aspect of the business. I have a trusted network of bi-lingual professionals that I work with.
f) in terms of the market outlook. I’ve seen the market recover from the recession, which hit Costa Rica in 2009 and stayed through 2013. Prices in the north are not what they were pre-crisis (although I would argue they were unsustainable and will probably never get back to those levels). In the south pacific (where I’m more familiar with the market), prices have stabilized and have increased over the past 24 months.
In terms of pricing, as with all real estate, it depends on location, location and location.
If you need further assistance please contact us at
Info +(506) 6006-0502
Phone +(506) 2201-1484
Fax: +(506) 2224-1302
Property values vary regionally and Costa Rica has an abundance of diverse regions. Â The information shared in this article will enable you to better understand Costa Rica’s diverse regions. http://news.co.cr/costa-ricas-diverse-regions-and-unique-attractions/6580/
As anywhere – it depends on location and what you are purchasing. Sales are slow overall – so if you decide to leave be prepared for the timeline involved. If you think about it who are the primary purchasers of certain real estate transactions – I would say expats. Which means there is a smaller pool of potential sellers if and when you sell – as this demographic is relatively comparatively speaking. And everyone is looking for a bargain. So in my experience CR is a buyer’s market overall.
In Tamarindo, there seems to have been an increase in tourists and interested buyers over the past few years. Â I wouldn’t call it a “hot market” yet, but things are improving. Â The future depends upon many factors, including global economies. Â Trying to predict that is like trying to predict the stock market – if I could do that, I’d be very rich!