Real estate market index
Costa Rica is characterised by a relatively small and stable property market. In 2023 the market returned to its pre-Covid levels of 2019, while the decline observed in 2020–2021 was driven by the outflow of foreign buyers and pandemic restrictions. In 2026 the market continues on a trajectory of steady, gradual growth.
Activity of foreign buyers
The share of purchases by foreigners has traditionally stood at around 15%. The country remains a popular retirement destination for North Americans.
Nationality of foreign buyers
Foreign demand is not the dominant force in the country, yet it has a material impact on the premium segment in the best locations. As a result, developers tend to target foreign buyers, which weighs on the availability of supply for the local population.
At the same time, the number of transactions on the domestic market has been growing steadily over the past four years — even after the post-Covid recovery phase came to an end.
The main foreign buyers of property in Costa Rica are US citizens, followed by investors from Europe, with Canadians in third place.
Property prices
The highest prices are recorded in Guanacaste, followed by Puntarenas and San José. The widest price gap between apartments and houses is found in San José, the country's capital.
Rental yield
San José also shows the highest average rental yield, at approximately 8.4% per annum. It is precisely 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 substantial share of the property market. This reflects the strong appeal of these areas to tourists, retirees and investors from North America and Europe.
The segment with the greatest potential is condominiums, where demand continues to grow steadily. By contrast, demand for land plots slowed markedly in 2024.
The most attractive locations for investment are Guanacaste, San José and Puntarenas.
Against a background of rising geopolitical tensions, the Costa Rican property market may prove to be one of the beneficiaries, thanks to an increased inflow of affluent buyers from North America.
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