During the late 1990’s and early 2000’s, a tiny country in Central America began to see an unprecedented rise in international tourism, forever changing the reputation of this region of the world. Prior to the mid 2000’s, Central American countries conjured up ideas of Banana Republics, but as visitors flocked from all over the world to experience the natural beauty of Costa Rica, the reputation of this Central American country changed forever. —
By 1999, tourism had become the largest foreign exchange earner in Costa Rica, earning more foreign exchange than bananas, pineapples, and coffee combined. Thanks to the government’s prioritization of establishing national parks and protected areas of land, Costa Rica quickly became one of the top ecotourism and nature destinations of not just Central America, but of the world.
As the tourists came year after year, another trend began; that of the expat living abroad. The housing market in Costa Rica became an enticing investment opportunity for many visitors from the United States, Canada, and Europe. The most popular region for these North American and European transplants was Tamarindo and the surrounding region of the Guanacaste Province. Vacation homes, second homes, and retirement homes were popping up all along the beaches of the Pacific Ocean and Costa Rica saw an even larger increase in tourism and foreign investment.
Attracted to Tamarindo Real Estate by the excellent weather, the natural beauty of the region, low property taxes, and low property acquisition costs, North Americans and Europeans began building and buying homes throughout Tamarindo and the surrounding beaches. Large developments of luxury villas, condos, and homes began dotting the shoreline, putting Costa Rican's to work and helping the economy grow. But, by 2008, as the housing bubble burst in the United States and elsewhere, Tamarindo Real Estate and the rest of Costa Rica felt the effects of a struggling economy and construction and purchasing fell, tourism declined and it seemed as though bananas, pineapples, and coffee would be making a return as the front runners to Costa Rica’s economy.
As the housing market has recovered, and with the Baby Boomers coming of age for retirement, Tamarindo is once again becoming the top choice for tropical, beach front real estate. With luxury housing options available for a fraction of the price as in the United States, Canada, and Europe more and more visitors are deciding to turn their 2 week vacation into an extended stay and making Tamarindo their home away from home.
Developments such as Punta Playa Vistas’ Ocean View Real Estate in Playa Conchal, which was recently featured on The Home and Garden Network’s (HGTV) popular show House Hunters International are seeing foreign investors purchase real estate at an astonishing rate. With luxury ocean view condos starting at less than $199,000 (USD), it’s no wonder more and more people are calling Tamarindo Real Estate and the surrounding beach towns home. Thanks to the recovering real estate market and the Costa Rican government’s commitment to foreign land and real estate ownership, it looks like real estate in this tiny, tropical country has nowhere to go but up.
Name: Christian Desmond
Email: Send Email
Organization: Punta Playa Vistas Ocean View Community
Address: Playa Conchal, Costa Rica
Phone: (732) 962-6525 U.S.
Release ID: 23718