Lately there have been ongoing issues regarding prices on properties in Costa Rica. A few days ago I was commenting that prices in Costa Rica real estate are quite cheap for us foreigners and that it is possible for us to purchase a nice luxury villa in a paradisiacal location for a lot less a normal home costs in the United Estates. Which is great for all of us ex-pats looking for a nice place to retire and rest, but it is a nightmare for people in Costa Rica who want to rent or buy their own place.

 

Rent prices in urban locations have gone crazy high and not at all affordable for the regular mid-class Tico. In Costa Rica, apartments and homes for rent in locations near usual work places for mid-class professionals will cost as much as one person’s month salary in the best case scenario, some regular sized homes will cost even more than a regular Tico makes a month, especially in the San Jose areas where most people go to work.

 

Lovely view from Escazu home

 

On one side Costa Rica gas prices have created a new mentality where people are trying to use less gas, so people try to get a place near their work places which has become impossible. I have learned that some people feel that real estate prices in Costa Rica are thought out for people that earn US salaries while Costa Ricans struggle to get by with salaries that do not match the Costa Rica real estate market.

 

According to some information I read, even real estate sales in Costa Rica beaches have gone down in the past couple of years, which incidentally matches a crazy increase in prices on properties. Costa Rica beaches and natural retreats are one of the most wanted locations for foreigners yet, for some reason, the prices on downtown locations has become very similar to Costa Rica luxury villas even though the ones offered are regular homes. Owners and realtors have excluded local market by offering mostly all furnished homes, which makes sense with the prices offered but turns into a hassle for Costa Ricans who need to move since in most cases they already own their furniture and appliances.