We are starting to see the high season for tourism start in Guanacaste, but the real estate sales for local real estate agents is year round. Most agents report more tours and showing requests in the months of December to April, but sales are reported 12 months per year. Statistics even show an increase during the months of July to December as clients come back to enjoy the green season in Costa Rica and make the final decision to purchase.
There are still fantastic properties available, but inventory is lower this year near the beaches in some price points. Because of the cost of land and construction, we are not projecting many new developments to be occurring near the beach in the $100,000 to $250,000 area, but have seen some nice luxury home projects in the planning stages.
We are continuing to see a high demand from people from the United States, Europe, and Canada looking for warm locations to retire near the ocean. Expats are often pursuing a change in lifestyle. We have also seen an increase in people that are working remotely and can live anywhere in the world. The international airport in Liberia offers easy access for international travel if residents need to travel for work. The continued increase in demand has also come from families that are moving to the area. Playa Flamingo and Playa Tamarindo offer a number of international, bilingual schools and extracurricular activities for children that have relocated with their families.
We often see people that would like to rent in the area for a year before purchasing, but are finding it very difficult to find a long term rental in the area where they would like to live. Some of these individuals are purchasing now to be able to have a wonderful home to live with the goal to sell after a year or two, or rent the property. We find most of the people that come with intent to stay only a year or two often make Costa Rica their permanent residence.
Interest rates are still very low in many countries where people might be looking at taking a loan off existing assets to purchase a home or condominium in Costa Rica. While financing is still difficult for nonresidents, some owners will offer financing for three to five years with thirty to fifty percent down. We hope to have other types of short term private financing options at reasonable rates in the future.
Contact RE/MAX Ocean Surf and Sun to find out the properties that are currently one the market in Costa Rica. We look forward to helping you fulfill your dream of living in Costa Rica!
Courtney Borquet, Broker/Owner