Once labeled the hottest market on the planet by MSNBC, Costa Rica real estate still offers plenty of opportunity. Throughout this thriving sector of the international real estate market, Costa Rica brings great news and exclusive opportunities to savvy buyers. Recent reports show the increasing strength of the Costa Rica real estate market and low comparative prices, the growth of the luxury market and unique fractional opportunities are among the many reasons Costa Rica is one of the world’s most attractive locations for purchasers of international luxury real estate.
Steady Market Improvements and the Allure of Costa Rica Real Estate Attract North American Baby Boomers
According to a recent article on WorldPropertyChannel.com, the Costa Rica real estate market has reported steady improvements during 2012 and 2013, primarily in reaction to a strengthening economy and housing market in the United States which is steadily increasing the confidence of North American buyers. While median condo and home prices are increasing, the sale of lower priced properties has declined. Based on this and other indicators, industry experts in Costa Rica real estate expect a positive trend in both sales and pricing in the upcoming year.
Specific areas of interest for second home buyers and investors remain the lush, coastal areas of Guanacaste and most recently on the rise, the Southern Zone of Costa Rica. These fast emerging submarkets have remained relatively undeveloped and offer some of the most spectacular landscapes and vistas in all of Costa Rica.
Apart from second home buyers and straight investors there are increasing numbers of baby-boomers on the hunt for real estate and they are quickly discovering the appeal of life in Costa Rica. According to The Wall Street Journal, investor interest is growing considering that in the U.S. there are over 10,000 baby boomers turning 65 each day. These boomers appreciate the scenic wonders, lower cost and higher standards of living marked by affordable luxury and see the attractive investment potential in Costa Rica real estate.
Costa Rica Luxury Real Estate Continues to Surge Despite Market Conditions
Costa Rica’s overall real estate profile continues to grow with its appeal as a place to find real value, especially in the luxury real estate market. According to WorldPropertyChannel.com, while lower priced properties dropped or flat-lined in recent years, the luxury real estate market has seen a surge, in spite of the downturn. “High Net Worth Individuals” have discovered that they can find exceptional value in the luxury market in Costa Rica as well as unique experiences in the exceptional offerings of Costa Rica real estate.
While luxury real estate in Costa Rica saw a rise, so did the entire luxury market. From luxury cars and luxury apparel to luxury hotels and resorts, this entire sector has seen excellent growth over the past few years. And as more wealthy internationals see Costa Rica as a place to invest and find leisure, the luxury market will continue to experience an upward trend.
One unique mark of luxury in Costa Rica real estate is the celebrated and inspired talent of local and international architects. Contemporary and traditional Spanish Colonial flavors as well as a high quality of architecture characterize a large number of ultra-opulent estates that are satisfying the needs of wealthy international buyers discovering Costa Rica. The exclusive and authentic resort community of Hacienda Pinilla showcases this famed traditional architecture throughout the entire development. From sprawling haciendas to townhomes and luxury villas, Hacienda Pinilla offers traditional luxury in the province of Guanacaste with a wide range of exquisite properties.
Low Comparative Pricing Adds to the Allure of Costa Rica Real Estate
In Costa Rica low comparative pricing brings another big draw for international buyers. From 2000 to 2012, property was found to be 50 to 70 percent less expensive than comparable properties in the United States.
So, what can you get for around $400,000 in Costa Rica? On Costa Rica’s Pacific Gold Coast, you can have an elegantly furnished 2-bedroom 2-bath Villa with open vistas and lush surrounding gardens in the famous Los Sueños Resort and Marina. Only minutes for the golf course, steps away for the secluded pool and surrounded by endless amenities, you can enjoy the best of Costa Rica all while living in a secure gated community in paradise. For more information about this listing click here.
Along with Affordable Luxury, Fractional Ownership and Luxury Private Residence Clubs are on the Rise in Costa Rica
Beach condos have always been popular in Costa Rica but now a new segment of the real estate market is making waves in condos and luxury homes along Costa Rica’s thriving pacific coast. Fractional ownership and luxury private residence clubs are the fastest growing segment in the second home market worldwide. Properties like the Hacienda Club in Guanacaste and the Los Altos Club in Manuel Antonio offer buyers luxury properties in prime Costa Rica locations with all the services of a boutique hotel at a fraction of the price. With prices at the exclusive Hacienda Club starting at only $98,000 for a 1/8th share, international buyers will enjoy the finest in luxury and service in a worry-free form of real estate ownership.
From expected growth to affordable luxury and some of the most famed landscapes in the entire world, there are many attractive elements to buying real estate in Costa Rica. As North American baby boomers and wealthy international buyers discover the unique appeals of Costa Rica real estate, the market will continue to improve while the array of real estate offerings will continue to expand. As Costa Rica continues to improve its international profile industry experts are certain this trend of growth and expansion will undoubtedly continue.