High Priced Costa Rica Beach Real Estate? Don’t blame the Ticos!
I had a discussion with a couple of ‘gringos’ about Costa Rica beach real estate at the checkout counter in the Escazú supermarket the other day.
They were complaining to each other about the “outrageous prices” of a particular Costa Rica beach real estate project near the beach.
The developer was selling lots but these men were talking loudly about how they thought that in this specific area, the “Costa Ricans were pricing themselves out of the market.”
I was familiar with the project and asked them why they did not buy one of the lots?
“Because the prices are too damned high?” They told me…
How many lots are left for sale? “There’s only about three lots remaining for sale, the rest were sold a few weeks after they were put on the market.”
So some people are buying these lots? “Well yeah! Their first newspaper advertisement hasn’t even come out yet and they’re nearly sold out! But you gotta be nuts to buy at those prices.”
I knew the answer but asked them anyway…
“Who was selling the property?”
“It’s a group of young guys from California who bought a big chunk of land, cleared it, put in some basic roads and now they’re are selling it off – But they’ll make more than ten times their original investment and we don’t think that’s right!
Hmmmm!
- According to my friend and attorney Roger Petersen, who is the author of ‘The Legal Guide to Costa Rica’, “The majority of people selling property on the gold coast (Central and Northern Pacific) are foreign developers selling to foreign buyers.” And yes! The majority of the buyers are Americans.
- According to Penny Layman, one of our Preferred Real Estate Professionals; “95% of all beach properties I know are for sale are owned by Gringos, may be even closer to 98%.
So if we are to complain about the prices that are being charged in some areas of the beach… Then don’t blame the Ticos please!
High Priced Costa Rica Beach Real Estate? Don’t Blame The Ticos!
Article/Property ID Number 521
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Andrew Makarik
to@welovecostarica.comAndrew 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.
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