relative Central Valley land values

[sprite]

I bought my property two years ago for $4.38 a sq mtr. Yesterday I was looking at advertised prices for several “similar” properties in my region. By similar, I mean property qualities such as proximity to city and towns, infrastructure, altitude and beauty of view, etc. These properties are being advertised at between $17.50 and $18.00 per square meter! I can find more expensive listings around Grecia, but that is a bit further from my region which is the Naranjo, San Ramon, Palmares area.

I know this area pretty well for a non resident.Is it possible that land prices have increased by 4 times as much in just over two years?
Or am I misjudging?

Edited on Jul 19, 2008 13:37

[mollyjim]

…but will they sell for that?
I paid virtually the same price as you also two years ago for my 10,850 meters, about 15 minutes NE of Grecia. By the time the infrastrucure is in place this fall, I will have another $1.25 per meter in it. Has privacy, good view, rio along one boundary. I feel confident I could easily sell it (don’t want to) for a significant profit, but for 3 to 4 times the purchase price? I think not. These prices seem overinflated to me, probably due to the “all gringos are rich syndrome”. I suppose some may bite at those prices, but those are the ones who drive up the prices for everyone.

[sprite]

My 12000 square meters has two 10 meter high waterfalls along a stream and a major river at the border. The view is great and very private and peaceful.I would never sell it. But none of the advertised properties have streams, rivers or waterfalls. One was not even gated. (mine is not either) It makes me wonder if I shouldn’t have bought an additional piece of land at that time.

It is so hard for Americans to estimate real estate values in CR. Will people buy land at the $18 per sq mtr I have seen advertised in the area? Who knows? But even if sellers are high balling the prices and end up selling at half the advertised price, that is still a substantial increase in value…two times what I paid a few years ago. When does the CR boom end? These things are always cyclical.

Edited on Jul 19, 2008 13:35

[sprite]

Assuming that listings we see on this site are at a pretty fair and realistic level,on today’s home page is an article about a gated community lot half the size of mine and being listed at over two and a half times my original cost.

[dehaaij]

Don’t know about outside of San Jose, but within the city and all it’s outlying suburbs (say within a 30 minute bus ride to downtown) it is very difficult to find a small lot say 100 or 200 sq. m. for less than $75/m. Most prices are in the $100-$150 range. I’m talking about normal middle and upper class areas. A neighborhood in poverty or land adjacent to a river would of course be a lot cheaper – all the way down to nothing at all which is the way many live. However, I think many would be surprised at the appearance of the neighborhoods with land prices around $100 sq/m. They’re the very typical ones with nothing in the way of what people from the US would consider attractive.

Jon

[rafael]

For some fair prices in Central Valley Costa Rica visit http://www.vistasdesarchi.com
If you don’t see what you are looking for they’ll help you find it

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