Press Release – The 2012 Central America House Price Snapshot
Press release on Central America Real Estate Prices, Belize Real Estate, Nicaragua Real Estate, Costa Rica Real Estate, Panama Real Estate
SHINING A LIGHT ON REAL ESTATE PRICES IN CENTRAL AMERICA
Reveal Real Estate And Global Property Guide Release
The 2012 Central America House Price Snapshot
Whether you’re moving down the street or purchasing property in a foreign country, it’s your market knowledge that will help you succeed. Ideally you’d go to market armed with a reliable and consistent set of market comps, price data and neighborhood information. This is the kind of information that helps build a picture of what constitutes value in a particular market and allows buyers to move forward with confidence.
The problem for investors looking at real estate in Central America is that it can feel like a venture into the unknown. Official property statistics are not available, sales and transaction data are not reliable and the same property can be marketed by different brokers at different prices. This makes it hard for buyers to get a good handle on what the market is doing and make an informed investment decision.
It’s against this background that Reveal Real Estate (http://www.revealrealestate.com) and Global Property Guide (http://www.globalpropertyguide.com) have prepared the 2012 Central America House Price Snapshot. The study provides a “snapshot” of the sales price of a typical three bed house across 12 different property hotspots in Central America. The results are generated by a special Benchmarking Group of recognized real estate experts with in-depth knowledge of their local markets.
“The goal is to help improve the transparency of the real estate market in Central America and provide a useful data-set for buyers, sellers, developers, analysts and everyone involved in the sector,” says Claudia Gonella, co-founder of Reveal Real Estate.
The snapshot shines a light on some of the most popular purchasing destinations for international investors. Often described as “hotspots,” these are locations with inherent natural appeal and local attractions that draw in tourists as well as real estate investors. Places like Ambergris Caye in Belize, Tamarindo in Costa Rica, Boquete in Panama and San Juan del Sur in Nicaragua.
• The median house price for the 12 markets was $260,000
• The average house price for the 12 markets was $285,000
• A $425,000 price gap was found between the most expensive market (Placencia Peninsula, Belize) and the most affordable market (Granada, Nicaragua). Note: The house identified in Placencia, Belize is located on the beachfront
• In all locations the price for a typical three bedroom house was below $580,000. If we remove the beachfront property identified in Placencia, in the remaining 11 locations the price for a three bed house was below $380,000.
• The two lowest priced markets are located in Nicaragua.
• The two highest priced markets are located in Belize and Costa Rica.
The snapshot (available at http://www.revealrealestate.com/snapshot) can’t compete with the mountain of market data available in more mature real estate markets, but it’s a first step in improving the flow of information to buyers and sellers interested in opportunities in Central America.
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The 2012 Central American House Price Snapshot coordinated by Reveal Real Estate and lobal Property Guide, reveals the sales price of similar homes across 12 real estate markets in Belize, Nicaragua, Costa Rica and Panama. The study relies on input from members of a special Benchmarking Group comprised of recognized real estate experts in Central America who were asked to report the sales price of a “typical house” in the last year for a specific area.
The “typical house” is defined as a single family home, approximately 2,200 square feet in size with 3 bedrooms and 2 bathrooms, on a lot no greater than ¾ of an acre located in a “middle market” neighborhood where international real estate investors are purchasing.
Benchmarking Group Members include:
- Ann Kuffner, Escapeartist Belize, http://belize.escapeartist.com/relocating-to-belize-personalizedbelize-relocation-services
- Macarena Rose, Rainforest Realty, http://www.rainforestrealty.net
- Petra Wolf, Coldwell Banker Belize Real Estate, http://www.coldwellbankerbelize.com
- David Joyce, RE/MAX Colonial Properties, http://www.remaxcolonialproperties.com
- Brooke Rundle, Coldwell Banker Nicaragua Real Estate, http://www.cbnicaragua.com
- Jeff Soderlind, The Horizon Group, http://www.nicaraguarealestatehorizon.com
- Steve Linder, Pacific Lots of Costa Rica, http://www.pacificlots.com
- Ivo Henfling, GoDutch Realty, http://www.godutchrealty.com
- Joost Hauwert, Hidden Coast Realty, http://www.hiddencoastrealty.com
Paul McBride, Boquete Highlands Real Estate, http://www.boquetehighlandsrealestate.com
- Mike Vuytowecz, Inside Panama, http://www.insidepanamarealestate.com
- Kent Davis, Panama Equity, http://www.panamaequity.com
- A video explaining the approach is available here: http://www.revealrealestate.com/snapshot
About Reveal Real Estate – Reveal Real Estate connects Buyers looking for property in Belize, Nicaragua, Panama and Costa Rica directly with Sellers who have listed their property for sale. Website: http://www.revealrealestate.com
About Global Property Guide – Global Property Guide is the world’s leading source of international residential property investment research and data. Website: http://www.globalpropertyguide.com