Costa Rica Guanacaste Real Estate – Aggressive Competition.

The typical Guanacaste landscape, with its golden plains and mountains near the sea, is now more aggresively competing with real estate offers in the Central Valley, taking care of services and facilities for its inhabitants.

The image of Guanacaste as a tourism destiny, enhanced for years, is finally paying off for the region of the North Pacific.

The Central Valley is also consolidating, but this is a different market sector, with its emphasis in the western and northern zones of the valley.

Fair deal: According to Emilia Piza, president of the Costa Rican Chamber of Real Estate Brokers, there still are reasonable offers in the Central Valley. “This does not imply that prices went down”, she says. “There was a time where prices skyrocketed, but now they leveled.”

For Ms. Piza, the value of Guanacaste’s beaches is matched by a stable supply and demand situation. “Although there are many offers, those have to increase due to an equally increasing demand, mostly stemming from a foreign clientele.”

In her opinion, investing both in the Central Valley and in Guanacaste will bring great benefits in the long run. “The development of this tendency is stable for the years to come. Although everything is related to something else in Costa Rica: changes of government, the economy, the credit policies… these trends remain stable”, assures Piza.

Extend the offer: Ms. Marlena Echeverría, another real estate broker, voices a similar opinion. However she sees the main development of the Central Valley happening in the northern and western sectors, like Heredia and Escazú, “with the difference that the north (Heredia) does not support the pace of development, which it is having.”

Seen from her experience, Escazú has an active demand, due to its preference by foreigners, and being “in” with nationals of a high socio-economic level. “On top of being fashionable, the climate and the proximity to the coast, with the upcoming highway Ciudad Colon-Orotina, influence prospective buyers,” adds Ms. Echeverría.

The development of new housing towards the east (Los Yoses and Tres Ríos) of the Central Valley is stagnant at the moment, although the prices are the same.

From her point of view, this also reflects that the market is saturated with similar offers, and not all segments of buyers have been taken into account for. “Usually these houses, for example, are designed for young professional couples, with three rooms on a second floor, and two and a half bathrooms.

Nobody thinks about the senior citizens, who want to live at ground level, and with ample green surrounding them. There is still a huge potential within the Central Valley”, Echeverría explains.

It is true that Guanacaste has been a good place to invest. “The prices have gone up considerably, due to the tourist attractions and because many foreigners are settling in the area. The added value due to high demand is increasing”, adds Ms. Echeverria.

A small condo is selling for around US$100,000, while a bigger house can easily exceed US$250,000, although view, surrounding recreational areas, and facilities influence the final price. She concludes: “the demand in Guanacaste is really impressive”.

Please note!

1. If you plan to build near the beach for rental purposes, take into consideration the location and the construction materials to be used.
2. The topography is an essential factor in the climate design. Analyze carefully the ground in order to have the foundations properly built, and to provide ample rooms.
3. Although the typical housing of the coastal regions is held in a modern design, you’ll find also contemporary or neocolonial styles, which are quite en vogue nowadays.
4. In the cities real estate increases in value according to is proximity to shopping facilities and public services (schools, hospitals, etc.).
5. Other factors for renting in the city are the views, the tranquility and the security offered with the place.

Our thanks to our friends at La Nacion – Costa Rica’s largest Spanish circulation newspaper for their permission to use their article in English.

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Andrew Makarik

to@welovecostarica.com

Andrew Makarik is the main editor of WeLoveCostaRica, a fan of this sunny country. He is also a loving husband and a has a lovely daughter. By being a devoted family man and the biggest Costa Rica fan, he wants to make more people feel at home there. WeLoveCostaRica unites people and helps them find new home or a new travel destination. This website is a friendly community where everyone can find not only information, but also new friends and travel pals. Andrew is also passionate about IT and programming, so he himself maintains a friendly atmosphere in this cozy environment of WeLoveCostaRica.com.