January 26th, 2011
Tamarindo Real Estate: an Expert Overview by Courtney Borquet
October 13, 2010
Since I have lived in Tamarindo for almost ten years, people are frequently sending me emails and asking me questions about the local real estate market. I am not an expert in this field, but fortunately I am good friends with one. Remax Tamarindo Manager/Sales Associate Courtney Borquet has been working in Tamarindo real estate for about as long as I’ve been working in the Tamarindo surfing industry. She is a true expert in this field. Courtney is providing us with local real estate information through a series of blogs starting with this one. She can be found using the contact information below. I hope you find this information useful!
TAMARINDO REAL ESTATE BLOG SERIES PART 1:
Costa Rica is a perfect vacation destination for many international travelers. Tropical waters, consistent swell, and a variety of surf breaks have been bringing visitors to Guanacaste for decades. Some of these vacationers have decided to purchase property in the area and make Costa Rica their primary or secondary home.
The country saw a significant increase in real estate investment from the late 1990s until 2009, when the economic environment changed. Last year the volume of real estate transactions decreased, but some lucky people were able to purchase properties at prices that have not been seen in years. There are still some fantastic deals available.
Most of the properties that were purchased by foreign investors were paid for in cash. This helped the real estate market by preventing a flood of forecloses. The interest rates and tighter lending policies in Costa Rica are the reason we continue to see people preferring all cash purchases. Some sellers have become more creative, and are willing to offer short-term owner financing with thirty or forty percent of the purchase price down.
Costa Rican residents are savvy about the opportunities available now in their country and many of the recent purchases have been made by nationals. North Americans are continuing to purchase vacation properties to escape the cold northern winters, live near the beach, or retire where their dollars can go further. The lower US dollar has also helped the prices become even more affordable for Canadians and European buyers over the last couple years. The diverse backgrounds of the buyers can be seen in most of the beach towns in the country.
As we prepare for high season, we see a number of opportunities for buyers in the market. There are a few select properties that are still deeply discounted below comparables because of sellers who require a quick sale for personal reasons. You can find lots, condos, and homes within a wide range of prices. Lots just a short walk to the beach can be found north of Tamarindo for USS45,000. Beautiful ocean view condos are now priced as low as $190,000. Fantastic ocean view lots with views of the Tamarindo surf breaks can be had for $150,000…
If you have been looking to purchasing a vacation property in spectacular Costa Rica, this could be the perfect time for you.
Manager and Sales Associate
Remax Ocean Surf
SERVING THE GOLD COAST FOR TEN YEARS!