January 2026
Costa Rica Real Estate Market: Overview, Outlook, and Opportunities
Real Estate Market Index
Costa Rica is characterized by a relatively small and stable real estate market. In 2023, the market returned to pre-COVID 2019 levels, while the decline observed in 2020–2021 was driven by an outflow of foreign buyers and pandemic-related restrictions. In 2026, the market has continued its trajectory of steady, gradual growth.
Foreign Buyer Activity
The share of foreign purchases traditionally accounts for approximately 15%. The country remains a popular destination for retirement relocation from North America.
Houe Price Index
Foreign demand is not the dominant force in the country; however, it has a significant impact on the premium real estate segment in prime locations. As a result, developers tend to target foreign buyers, which negatively affects the availability of supply for the local population.
At the same time, the number of domestic market transactions has been steadily increasing over the past four years, even after the post-COVID recovery phase.
At the same time, the number of domestic market transactions has been steadily increasing over the past four years, even after the post-COVID recovery phase.
Foreign Buyer Activity
The primary foreign buyers of real estate in Costa Rica are Americans, followed by investors from the European Union, with Canadians ranking third.
Real Estate Prices
The highest prices are observed in Guanacaste, followed by Puntarenas and San José. The largest price gap between apartments and houses is recorded in San José, the country’s capital.
Domestic Demand Dynamics
San José also records the highest average rental yield at approximately 8.4% per annum. It is the strong rental demand in the capital that underpins the existing price differentials.
Regional Characteristics
In coastal regions such as Guanacaste and the Central Pacific coast, foreign buyers account for a significant share of the real estate market. This is driven by the strong appeal of these areas for tourists, retirees, and investors from North America and Europe.
In coastal regions such as Guanacaste and the Central Pacific coast, foreign buyers account for a significant share of the real estate market. This is driven by the strong appeal of these areas for tourists, retirees, and investors from North America and Europe.
Most Promising Segments
The most promising segment is condominiums, where demand continues to grow steadily. In contrast, demand for land plots slowed significantly in 2024.
The most attractive locations for investment are Guanacaste, San José, and Puntarenas.
Amid rising geopolitical tensions, the Costa Rica real estate market may emerge as one of the beneficiaries, driven by increasing inflows of affluent buyers from North America.
The most promising segment is condominiums, where demand continues to grow steadily. In contrast, demand for land plots slowed significantly in 2024.
The most attractive locations for investment are Guanacaste, San José, and Puntarenas.
Amid rising geopolitical tensions, the Costa Rica real estate market may emerge as one of the beneficiaries, driven by increasing inflows of affluent buyers from North America.