IL Postcard
Where to Find the Best-value Lots in Costa Rica
Date: 05/09/2008
You’ll pay big bucks for a home in Costa Rica’s Manuel Antonio, but look farther south, and the prices are far lower...for now.
Friday, May 9, 2008
Southern Costa Rica
Read more about Costa Rica in International Living Postcards—your daily escape
Some of the most amazing scenery in Costa Rica is in the southern zone, in an area that runs south of Quepos to the border with Panama. Landscapes here are dramatic—panoramic ocean views…lush tropical rainforest…and sheer jungle-clad slopes, rising sharply away from pristine stretches of sandy beaches.
In a country with an established real estate market like Costa Rica, this sounds like just the type of place that would attract a lot of fervent investors. But it remains under the radar in terms of property development because it’s hard to get to.
The Costanera Highway is unpaved between Quepos and Dominical, and the airports are small, local affairs. The airport in Palmar Sur is a one-woman show—she issues tickets, checks baggage, and answers queries, all while you sit on a wooden bench overlooking the small strip, alongside your other co-passengers…all 11 of them. No duty-free or airport food here.
But these are exactly the kind of conditions I look for when scouting for a good real estate opportunity, as the property prices are low at the moment, and infrastructure is set to improve.
Road improvements on the Costanera Highway are already underway and scheduled for completion in two to three years. This should cut the 90-minute trip from Quepos to Dominical to 25 minutes. Combined with plans to construct an international airport in Palmar Norte, due to begin this year and to be completed in 2010 (funds have been allocated by the government), it all adds up to one thing: Property prices are almost certain to climb.
For now, pricing here is among the lowest in Costa Rica. A 1.25-acre lot close to Ojochal is available for as little as $55,000. Construction costs are roughly $85 per square foot. So, for $225,000, you can own your own piece of this tranquil setting in a custom-built, 2,000-square-foot house on a large lot.
That really is a good-value buy, considering a 2,200-square-foot condo in Manuel Antonio (nearer to Quepos) averages $595,000; and a 1.25-acre lot is listed for $325,000. Compare this with a quarter-acre lot in a development in Tamarindo with valley and lake views for $400,000 .
The climate in the southern zone is tropical, with a dry season from December to April, and a rainy season, typically bringing heavy downpours in mid-afternoon. The temperature does not vary much, and averages 79 degrees Fahrenheit year round. Elevated properties in the area normally have refreshing sea breezes. This is the perfect spot for outdoor activities, from surfing to diving, hiking to bird-watching, and whale-spotting to sport-fishing. The feeling is tropical, fresh, and close to nature.
Ronan McMahon
For International Living
Editor’s note: Ronan is the executive director of Pathfinder, and contributing editor to Real Estate Trend Alert, a new IL publication for individuals who want to take advantage of global real estate trends long before they become common knowledge.
Read related articles:
- What Will a New Airport Mean for This Quiet Stretch of Costa Rican Coast?