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Boroughs & Burbs 108 || Costa Rica's Real Estate Boom
Manage episode 379652625 series 2814073
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Join us for an eye-opening journey to the enchanting realm of Costa Rica in Episode 108 of "Boroughs & Burbs." Discover the thriving real estate market and the captivating allure of Tamarindo, where ocean views, luxury rentals, and abundant opportunities await. Our special guests, seasoned experts Brian Bratton and Robert Davey, will unveil the secrets of this tropical paradise.
In 2022, Costa Rica welcomed a staggering 2.3 million tourists, with the United States leading the charge, issuing 1.2 million visitor visas. This remarkable surge, a 70% increase from 2021, reflects the country's magnetic appeal. Costa Rica's Tourism Institute (ICT) anticipates a staggering 3.8 million tourists by 2027, generating an estimated $4.9 billion USD.
Despite the burgeoning demand, Costa Ballena's real estate supply remains limited. The pursuit of affordable ocean-view properties is driving interest further south, making areas like Tres Rios, Lagunas, and Hatillo hotspots for growth in 2023.
This episode delves into the shift towards younger families investing in Costa Rica's real estate market, accelerated by the post-COVID world. The average age of foreigners residing in Costa Rica has dropped, with a surge in younger buyers seeking family-oriented amenities and properties suited for permanent living with middle-income considerations.
While traditional real estate hotspots like Tamarindo and Flamingo in Guanacaste, as well as Escazú and Santa Ana in the Central Valley, continue to thrive, new expat-friendly destinations are emerging in the Southern Pacific region, including Dominical, Ojochal, and the Osa Peninsula.
Don't miss this insightful episode as we explore the real estate transformation in Costa Rica and the changing landscape of property investment. Tune in and embark on a journey to Costa Rica's remarkable real estate boom!
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