Costa Rica Real Estate – Explosive demand in Liberia housing

The initial Costa Rica Chamber of Construction study shows housing shortage in Liberia, Guanacaste.

Attracted by the offers of new jobs and investment opportunities in Guanacaste, some inhabitants from the Central Valley are migrating to Guanacaste however, when they get there, they can not find a place to live or they have to pay sky high monthly rents.

The construction of hotels, luxurious condominiums, vacation houses in the coast continues but the real estate available for the local residents gets harder to find every day.

Nowadays, the most dramatic case is Liberia, where finding a lot to build on or buying a house is almost an impossible mission. It costs more to rent or buy a house in Liberia than it does in San Jose.

Carlos Marín, the Mayor of Liberia said that there is a lack of available land and that those who still owe some, want to sell it to foreigners or keep it until they can get a higher price.

The foreign investment has increased the prices immensely and now there is no land for the people of Liberia, said Marin.

The lack of housing in Liberia mainly affects professionals such as lawyers, architects, administrators and engineers that have been moved there by the developing companies due to the lack of qualified personnel in the area.

Trainers and football players are also running around trying to find places to live. The rent and sales prices of the few available houses in the area are twice as much as the prices in San Jose.

Juan Carlos Arruba, physical trainer of the team called Liberia Mía, said that he paid $800 monthly rent (400,000 Colones) for a two story apartment at the end of the Rohrmorser Boulevard. It was totally equipped, security guards 24 hours a day and all the utilities included.

Meanwhile in Liberia, an apartment without furniture, facing the street, without security costs between $400 (200,000 Colones) and $600 (300,000 Colones).

Due to the fact that the demand is bigger than the offer, the owners take advantage and charge very high prices, said the director of the Construction Chamber, Randall Murillo.

“The rental price of a little house in Liberia is the same as the rental price of a penthouse in San Jose”, said Murillo.

The Costa Rica Chamber of Construction is making a study of the lack of houses in Liberia, Carrillo, Santa Cruz, and the Metropolitan area. The results will be ready in a month and a half.

Renting an apartment or a house in Liberia costs an arm and a leg. Buying is almost impossible. A house of 260 2mt (2,796 square feet), located in a residential area with private entrance and green areas costs US$250,000 (125,000,000 Colones). Three years ago the price of that house was US$100,000.

Roger Vlasos, a local real estate broker in Playas del Coco, said that he wanted to invest and live in Liberia, but not with those sky high prices.

Gerber Wolf, General Manager of a local construction company said that prices have increased due to the high demand. This company is building the first middle class project in Liberia which will be 95 M2 (1,022 square feet) apartments with two bedrooms, two bathrooms, living-dinning area, kitchen and a laundry room priced at US$110,000 (55,000,000 Colones). The first 336 units were sold before they were finished, said Mr. Wolf.

Our thanks to our friends at La Nación – Costa Rica’s largest Spanish circulation newspaper for their permission to summarize this article.

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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.