Costa Rica’s high-end real estate market in the North Pacific, especially in Guanacaste, is booming. Driven mainly by hotels, apartments, and various services, this expansion phase is likely to continue over the next five years.
Guanacaste has several luxury hotels and resorts worth about $400 million. The gradual recovery of tourism in Guanacaste, due to the return of major airlines and the increase in traffic from our main markets after the epidemic, has encouraged the resumption of hotel services and the use of ingredients by local and foreign investors.
Among the drivers of the expansion of the area in Guanacaste are the “famous buildings,” which consist of luxury buildings built with the help of a world-famous hotel. These types of projects are particularly attractive to foreign investors, who are looking for a safe and secure investment with the added benefit of having access to world class products.
Another factor that has contributed to the growth of the high-end market in Guanacaste is the arrival of digital immigrants, North American retirees, and the strengthening of Costa Rica’s international reputation as a tourist destination. The efforts of the Costa Rican Tourism Board (ICT) to position Costa Rica in the world as a destination to connect with the source of life, as well as new ways of working such as remote jobs, have increased the demand for long-term hospitality in beach hotels.
Here are some additional facts about the high-end real estate market in Guanacaste:
- The average price of a luxury home in Guanacaste is around $1 million.
- The most popular residential areas in Guanacaste are Tamarindo, Playas del Coco, and Nosara.
- The factors driving the high-end market in Guanacaste are tourism, investment, and retirement.
Shopping Center in Costa Rica
Costa Rica has managed to position itself as a top destination for nature, health, culture, and adventure. This has also led to many high-income tourists choosing the country as their preferred destination.
“The unparalleled combination of biodiversity, infrastructure development, and focus on sustainable tourism make Costa Rica an unparalleled destination for those looking to balance investment and connect with nature,” said Danny Quiros, Director of Market Research at Newmark Central America.
As the high-end real estate market in Guanacaste continues to grow, it’s clear that Costa Rica is becoming a hot spot for investors and discerning travelers. With its natural beauty, world-class amenities, and focus on sustainability, Costa Rica is the perfect place to invest in luxury real estate.