Buying Land in Guanacanaste

[benson]

We have been researching buying a residential lot in the Northen Pacific region. Our plans are to buy now and then move over in 3 - 4 years. We would ideally like
to buy an oceanview lot or alternatively something near a beach with and enough space to build a home with a couple of cottages that we could possibly rent out. We are looking in the Tamarindo area around Playa Grande, Flamingo, Conchal, Protero areas beacause it has the infrastructure we need in order to set up a business and have access to schools etc.

My question relates to the best place to buy in terms of overall investment. I have read on various sites that certain areas have maxed out in terms of appreciation
and that others still offer a good investment opportunities. Does anyone have any recommendations or thoughts?

Thanks...

[Russ]

The area you are looking at is a good choice for infrastructure, schools and amenities.  Arguably the hottest market in Costa Rica the last several years running. 

You should do particularly well with the business you are contemplating during high season. 

As for this area being maxed out (or Jacó) for appreciation, I'm not sure I buy into that theory.  Now for anyone to expect the appreciation shown in the past to continue indefinitely, I don't think that is wise.   But I see this area (the Northwest Pacific Coast ) as developing further and continuing to appreciate in the long term.  As more foreigners move in and build, more and more services will come on line to cater to them.  I see that as more other facilities are built and amenities offered, the area will become even more attractive and prices will continue to rise. 

Now definitely other areas are cheaper, but it may not be wise to say that they have more potential. There is no guarantee that what has taken place in the Tamarindo/Flamingo area will happen in any other particular area.  Within a short period you had a confluence of development factors that no one in particular was expecting, which caused supply and demand to become unbalanced:
- The Taiwan bridge opened
- The Country Day School was built
- The Liberia Airport became international
- The Papagallo concession issues were settled and the area opened up to new developers. 
- Ocean view and beachfront properties on the market became uncommon, then scarce, then very rare to non-existent. 

Take Parrita for instance.  Some unscrupulous have taken land that was worth maybe $1 - 5 per square meter and are marketing it at $25 per square meter, promoting the area as comparable to the Northwest Pacific or Manuel Antonio, and saying that people who buy now will double or triple their money in a year or two.  Because similar "factors" exist, like the new road to Jacó or the Orotina "space port".  (exaggeration intended)

While it is true that many areas in Costa Rica have great upside potential, particularly when certain improvements actually come to pass, I don´t think it is possible to look at what has already happened and think that things will come together so quickly for those areas and also conclude that the prices we see today in Tamarindo, Flamingo, Jacó and Manuel Antonio are sure bets for any other particular area in Costa Rica, especially in a range of less than 5 years. 

My 2 cents, lets what the real experts say! 

[costaricabuilder]

CR's like anywhere else. If you get in on the ground floor of a new project before the developer has achieved success you can expect healthy appreciation. There are a couple of positive things happening in addition to what Russ offered with the bridge, airport and school opening in GTE. The old Rancho las Colinas golf course near Playa Grande was recently purchased by a developer and this same developer bought an additional large parcel adjacent to the golf course. Some exciting eco-friendly developments are happening in this area. Also, FORBES traveler rated Playa Grande as one of the top 10 adventure destinations in the world. http://www.forbestraveler.com/2006/10/06102301_story.html

[costaricabuilder]

Last month I was invited to inspect a lot for a prospective buyer in a new project on Costa Rica's Pacific coast that focuses on ecological development of the infrastructure and conservation of the existing natural environment. It is located in the area known as Playa Grande just outside of Matapalo in the province of Guanacaste and access is via a newly paved public road, forty five minutes from the Liberia International airport. With two private and entrances and full time security the community offers peace of mind as well as an aesthetically beautiful slice of paradise.

Playa Grande is famous for the giant turtles that nest on the beach and FORBES Traveler rated it in the top 10 adventure destinations in the world. http://www.forbestraveler.com/2006/10/06102301_story.html
Also many conservationists have been involved with protecting the area from extensive development and poachers who used to exploit the turtles and their eggs. http://www.pbs.org/edens/costarica/ridley.
 
This new project is named Baula Hills and is located on a high elevation approximately two kilometers from the white sand beach of Playa Grande, adjacent to the Las Colinas Golf Course, one of the three local PGA golf courses located within 15 minutes of the community. http://www.worldgolf.com/travel/cosrica.html.

The majority of the large estate lots have views of the Pacific Ocean and Playa's Grande and Tamarindo, Costa Rica's #1 surfing beach. Playa Grande is famous for ecological tourism and has attracted European as well as North American investors and many folks who have wanted a place to call home in this Costa Rican paradise.

The primary goal of the development team is to blend the individual lots into the existing natural forest. Extensive design and care have been taken to create a biologically compatible waste treatment system apart from the natural spring aquifers that supply the clean drinking water. All of the winding streets will be constructed of natural brick pavers and all water and electrical distribution is now being installed underground.

All building sites are a minimum of 5000 square meters or 1.24 acres. This size of building site enables the owner to enjoy an ample home with plenty of green areas. As you can see from the photos both the homes and green areas enjoy spectacular views of the Pacific Ocean, the local golf course and the breathtaking beaches on the Pacific coast of Costa Rica. Prices for lots begin at $90,000 and increase based on location and size.

A short drive away in Flamingo Beach is the Country Day School which is a college preparatory and accredited, English language school, committed to high academic standards and achievement through a balanced program structured primarily on United States curricula. This school serves students from early childhood through high school. http://www.cdsgte.com/

Additionally, in Flamingo the community enjoys the full service Flamingo Equestrian Center, http://www.equestriancostarica.com/.
All approvals are in place and construction of the underground infrastructure is underway.

[Writer]

For information on different projects in this area, contact Larry or Rick at Pacific Coast Realty.  http://www.CostaRicaRealtor.com

Pacific Coast Realty is a member of the American European Real Estate Group.
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