It is true that the world is in unfamiliar territory, and that no one can say for sure what the immediate or long term future holds. We, here at C21 Ballena Properties, are listening closely to our buyers and our clients. We are closely tracking our website visits, inquiries, and campaign participation; and there are clear upward trends in the Costa Rica real estate market. 2018 and 2019 were record years for sales for all of us along the Costa Ballena (South Pacific Coast) as a result of a strong USA and European economy, and strong consumer confidence.
Now, those same markets are looking at Costa Rica as a safe alternative to living in more densely populated countries. Other factors, such as our public health care system, easy access to advanced medical treatments, and a relatively easy process for residency, have increased the number of people who are considering Costa Rica as their new permanent residence.
The outstanding efforts of the Costa Rica government in response to the COVID-19 pandemic has highlighted other incredible accomplishments of the government of Costa Rica, such as the protection of so many beautiful, uncrowded beaches and rainforests, the abundant wildlife, and the strong environmental protectionism of this tiny, tropical country. In fact, the country was able to run more than 95% of 2019 on renewable energy sources.
Each of these facts, coupled with declining real estate inventory, may result upward pressure on prices in the real estate markets, as the effects of the pandemic ease, airports re-open and people feel safe to travel.
Our team has been very busy dealing with potential buyers; conducting safe, virtual tours; answering inquiries; and YES, selling properties, over the past several weeks. A lot of savvy investors are looking to act now, during the crisis, in order to get as much value for their money as they can.
Without a doubt, Costa Rica is a small country that offers big experiences to all. Although we do not know when the social confinement will end, we can assure you that once the pandemic passes, this beautiful country will welcome you with open arms!
Do you have a question about this article, or real estate in Costa Rica? Feel free to contact us.