According to the Observatory of Tourism, Migration and Sustainable Development at the National University, Guanacaste’s real estate market in Costa Rica has undergone a radical transformation in just three years, with an astonishing 400% increase in property prices between 2020 and 2023. This unprecedented growth has been driven by a combination of factors, including the tourism boom, demand for luxury housing, and the region’s constant economic development, solidifying Guanacaste as one of Costa Rica’s most attractive investment destinations.
The Force Behind the Growth: Tourism in Guanacaste
Guanacaste, home to 5% of the world’s biodiversity, attracted over 537,823 foreign tourists in the first semester of 2024, a 25% increase from the previous year. This surge in tourism has fueled growth in the real estate market, especially in luxury developments, leading Guanacaste to represent 25% of all real estate development in the country.
The impact of the tourism boom has also driven the development of new high-end housing projects, significantly contributing to the rise in real estate prices. This explosion of luxury residential and tourist projects has not only elevated prices but also added value to the region. In 2022, Guanacaste’s real estate market generated transactions worth $156 million, a significant increase from the $104 million recorded in 2021. This dynamism continues to attract both national and international investors.
Guanacaste’s economic landscape has experienced substantial growth, and the future looks even more promising. In the last 20 years, Costa Rica’s GDP per capita has increased by 60%, reflecting a solid economic environment. The OECD projected that Costa Rica’s GDP grew by 2.3% in 2023 and will grow by 3.7% in 2024, indicating continued and even accelerated economic expansion.
The demand for housing is not limited to purchases; the rental market has also experienced an uptick. Currently, a two-bedroom house in Guanacaste can fetch a monthly rent between $700 and $800. This increase in rental prices reflects the growing interest from both locals and expatriates looking to enjoy the quality of life the region offers.
Investment Opportunities
With over 1.5 million annual tourists, Guanacaste is in a privileged position to continue expanding. Beachfront properties and luxury homes with modern finishes remain the most coveted, while the region prepares for an even more accelerated phase of economic expansion in the coming years.
Located near Liberia and Daniel Oduber International Airport, Ciudad Nya presents itself as an excellent investment opportunity. Offering luxury apartments and more than 60 amenities, this development capitalizes on the tourism boom and the region’s economic expansion, offering a unique and profitable lifestyle.
The best time to invest? Probably yesterday. But you’re still in time to be part of this growth in Ciudad Nya.
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