The areas near the Daniel Oduber airport are the most coveted for investors, said Randall Fernández, manager of Ranfer-Networking. Perhaps at this moment when you are reading this note, a deal is being closed to purchase a land or a hotel in Guanacaste.
This province has become one of the most attractive spots for international investors, to the extent that there is little space left to offer at this time.And as the months go by, there is no doubt that news will begin to emerge about the hotel chains and luxury residences that will be installed in the province.
That panorama emerges from a recent study on the real estate market in the North Pacific prepared by the Ranfer-Networking firm.Investors are clear that Costa Rica and, specifically Guanacaste, is what people long for after the pandemic.
“The pandemic created a global awareness of the need to be in healthy environments and the tradition of conservation puts us in an unbeatable condition,” he said.
In turn, he emphasized that it was found that Costa Rica is being perceived not only for temporary enjoyment, but also permanent. “Not just as a second home, but as a first home,” he emphasized.
“To this add that news such as the Earth shot prize, awarded by Prince William for the conservation of the environment, generates a greater resonance to the high reputation that the country already had,” he emphasized.
On the hottest sites, the study identifies Celeste, Nosara and Palmitas beaches; also to Flamingo for the push of the marina and Hazelnuts, which is said to be on track to become the new Tamarindo.
In addition, it highlights that the Nicoya Peninsula has its own rhythm and atmosphere; He describes Santa Elena as a thriving place and Carrillo is perceived as a jewel not yet exploited.This situation generates that the scarce availability of land that remains is obtained at the price of gold, in many cases.
Even to the extreme that “the profitability equations do not give to develop projects” and there are not few cases where the response of investors is “I like that property, but at that price they do not give the numbers,” the study highlighted.
And it is that although in the province there are still lodgings between $ 50 and $ 200, the truth is that there are also projects focused on well-being where the cost of one night exceeds $ 1,000.”Being in fashion and being a destination positioned at the top of hospitality and retirement worldwide make it worth it”, highlights the market study.
For the country, the rise in real estate is synonymous with work for real estate, construction, service companies and other activities that have settled in the province.In turn, it is a catalyst for the economy and an important generator of employment and opportunities, reveals the report.
But it also creates challenges for the country. Along these lines, Ranfer-Networking identified the difficulty in accessing water as the main one, given the lack of investment, in some cases, and timely management, in others.
“This situation makes development more expensive because it causes high investments in the search for a solution aimed mainly at the desalination of seawater, so as not to depend on wells or the public system.”
Other challenges are working in the slowness of processes, the lack of personnel with a good level of English and in the articulation to achieve an orderly and sustainable development to turn the province into an engine of economic development that improves the quality of life of the population, highlighted the study.
“The productive chains from this development are possible and are practically created by opportunity or necessity, small and medium-sized, service and productive companies are integrated as a development cluster”, he evidenced.
How Is Guanacaste?
These are some of the findings of the study on the real estate market that Ranfer-Networking found in Guanacaste:
1. The arrival of tourists through the Guanacaste airport already exceeds pre-pandemic levels.
2. Several hotel chains manage the construction of new lodgings or expansion of existing ones.
3. There is a thriving market for luxury home construction.
4. Eco resort projects are the new trend.
5. There are important transactions for land with a vocation for beachfront development and with ocean views.
6. The most sought-after land are those closest to the airport.
7. The most sought after areas are Celeste, Papagayo, Santa Teresa, Conchal, Mojagua, Santa Elena, Pinilla, Manzanillo, Nosara and Garza.
8. International developers have settled in the province in search of the few remaining land.
9. The cost of land has skyrocketed in reaction to high demand.
10. Surfing is driving the beach circuit to become very sought after.