We are in high season here in the southern pacific zone. The months of November through April are typically when there are more tourists here than during the rainy months.

There is another type of “high season” happening right now as well. This has more to do with world conditions. I know, those from the States are going to think that Mr. Trump is pushing many to look elsewhere. And I suspect that this is true to some extent. I think that Mr. Trump has been good for my Costa Rica real estate business. I think Mrs. Clinton would have been as well. Such is the world that we live in.

However, our property buyers here are not just from the States. We’ve got buyers from Canada, despite their currently weak currency. These people are buying property and essentially paying 30% – 40% more due to the exchange rate on their currency. One has got to wonder – why?

France, Germany, Great Britain – all are providing us here with buyers. Again: why? There are economic, political and security issues happening in various areas of the world. I suppose that greater analytical minds would come up with the cause and effect links in trying to answer the question. But I find that there is one common thread when I talk with these people.

The Reason:
Stress
is pushing, and the promise of less stress, is pulling people to consider a life in Costa Rica. Simpler living is highly attractive. Costa Rica offers this and it (simple living) seems to be the antidote to whatever may be happening in one’s home country.

Uvita, Dominical, Ojochal and the surrounding areas that make up Costa Rica’s southern pacific zone are all seeing an influx of buyers. But there is more. There are some big-money players who are making some moves here that are notable. There are condominium complexes being constructed, and sold at a good clip. There are town homes, urbanization projects and upgrades to some of the antiquated infrastructure in some of these areas.

There is some talk of giving Uvita a facelift. This is much needed. With both Dominical and Ojochal, you turn off the coastal highway and drive into the town. In Uvita, the highway passes right through the town. Up till now its growth has happened with hardly any attention to the aesthetic and it is essentially a strip-mall, Costa Rican style.

This is a pity since Uvita could really have been (or be made to be) one of the most beautiful towns on the planet. So if these well funded entities see the beautifying of the town as in their best interests, great! Although it’s hard to imagine what can be done, short of tearing the whole thing down and starting over again.

The Envision Festival is going on currently. This has become one of the largest events of the year. Kudos to the organizers. I’ve heard that 7,000 people attended last year, but that about half that number are here now.

Uvita Costa Rica's Crunchy Envision Festival

2017 Envision Festival Uvita Costa Rica

Some of the Ticos complain a bit about Envision, claiming that the drugs, nudity and general licentiousness is disrespectful to their culture. I suspect that there is some truth to these allegations, but for me, I’ve never met an Envisioner I didn’t like and the festival provides a time of some fascinating people watching.

I’ve not  personally ever attended. I can hear the music from my home well, the bass notes anyway, and I routinely provide rides to those thumbing to the grocery store and back. There is also the complaint of them being a bit odoriferous, but I can’t speak to this having lost my olfactory sense some years back. So I get along fine with them in my car and always enjoy their upbeat spirit.

So between the time of year and world conditions, sales are good here in the Zone’s real estate market.

About Property Prices:
During the recession, there was not much of a market here. It hit hard and us realtors languished waiting for the anomalous inquiry that might result in a sale. I actually got into brokering hard money loans during this time in an effort to not only make a little commission, but to also help some land owners to not lose their properties.

Prices plummeted during the recession. This was an interesting time. The pre-recession time was a “boom”. The biggest challenge for a buyer then was being able to find an available real estate agent. I felt like I should put a Baskin Robbins “take a number” device at the door. Some of these buyers were our good-old bread and butter retirees, looking to retire to Costa Rica. However, there were lots of folks who refinanced their homes and then found themselves cash-rich and wondering what to do with it. The causes of the recession helped to fuel some of that heady boom and resulted in pushing prices up to a rather silly level.

So the fall of pricing some 40% – 50% during the recession could appropriately be called a correction.

Much of our land here is still at recession pricing. There hasn’t been a big upward push on prices since then. The demand for houses is strong and so we’re starting to see some upward movement there – all very rational though. This is no heady boom. Its simply that the inventory which was glutted post-recession, is finally starting to get mopped up. This was inconceivable in the years following the recession due to the glut.

I still get asked sometimes why it seems that everything is for sale. I find this interesting since I have to really work to find properties for some of the criteria lists I build for my clients.

Yes, I suppose everything is, in fact, for sale, at some price. However, finding what you want, finding that screaming ocean view with good access and amenities nearby, and all this in your budget, can sometimes be a bit daunting.

And then there is that wonderful amenity “simplicity”. I wonder if this could be put at the top of the list. Right up there with “ocean view”. I’m thinking that this one amenity is the primary mover of the current strong market we’re seeing here in The Zone.


Why Baby Boomers Are Buying Real Estate And Retiring In Costa Rica 2


The U.S. Census Bureau defines the Baby Boomers as those born between January 1st, 1946 and December 31st, 1964. As of January 1st, 2011 more than 10,000 baby boomers will turn 65 per day, a pattern that will continue for the next 19 years. The question isn’t if there will be a lot of people retiring. The question is… where are they going to go? With escalating government debt and rising taxes, many retirees are looking outside of the U.S. for a retirement location.

What is a Pensionado?

Retiring In Costa Rica

A morning walk and talk.

Retired or semi-retired people from the United States, Canada and Europe have always been a strong contingent in Costa Rica. I have read that there are approximately 100,000 foreign residents in Costa Rica. I would bet that number is much higher given there are still many expats living a perpetual tourists (e.g., leaving the country every 90 days) or their residency is “in process” which allows them to forgo the inconvenience of leaving.

With good and experienced legal help, it is not difficult to get permanent residence in Costa Rica. In order to qualify for retired (pensionado) status, the applicant must show proof of $1,000 in monthly income from a qualified pension plan. A married couple needs to show proof of only one pension of $1,000 per month. Pensionados agree to live in Costa Rica for a minimum of 121 days (approx. 4 months) per year and there is no maximum. Since most people looking to retire qualify for pensionado status and want to live in Costa Rica more than 4 months out of the year, the requirements for being a resident are more than manageable.

It’s An Adventure Every Day

Over the past 10 years, Costa Rica has risen to the top of retirement destinations. Warm weather, spectacular property, abundant wildlife, nice people, less stress… these are just a few reasons why millions of people visit Costa Rica every year, and why many fall in love with the country. One expat who retired to Uvita in 2008 summed it up recently by saying, “It’s an adventure every day.” It may sound cliché, but it is indeed true.

As I write this, my son is taking video of the white-faced monkeys in the trees by our house. Yesterday, we admired the howler monkeys while planting banana trees in the yard. I just returned from surfing with three dolphins. It is indeed “an adventure every day.”

Finding Your Costa Rican Property

Ok, so you are interested in retiring in Costa Rica, specifically the area in and around Uvita. Now you will want to find a place that resonates with you. Here are two key factors we have identified over the years—

Climate. Take advantage of the consistent ocean breeze by finding a property in the mountains. You won’t need air conditioning, thus you’ll save significantly on your monthly electricity bill. You’ll also be able to spend more time outside, which is what Costa Rica is all about. For those who don’t like the bumpy dirt roads, there are nice ocean view options offering quick 2WD access from the main highway.

House or Land. Most people come looking to buy a house, yet many end up buying a piece of land and building. This is because we are still early in the building cycle, especially in and around Uvita. Clearly, it is easier buying an existing house, but I do not discourage people from building in Costa Rica. We know many retired folks who have had good experiences with their builders. They also end up with a house that fits a longheld dream, and it’s tough to put a price on that.

My uncle, a baby boomer, lives down here in a lovely area above the small town of San Buenaventura. He likes the solitude, the wildlife, and his neighbors. Retiring in Costa Rica made sense for him, especially considering he purchased the land his current villa sits on at pre-boom prices. The good news for anyone looking to relocate or invest in land now is the real estate market has declined back to pre-boom prices. In fact, our inventory is loaded with ocean view lots under $100,000.

How To Navigate Our Non-MLS Market

There is no MLS (Multiple Listing Service) in the southern Pacific zone of Costa Rica. All of the real estate companies have their own database of listings that they have built up. The big misconception is that you need to work with all of them in order to find your property. Like Ben and I said in our last Talk Show #20, we have many of the same listings. Let us save you time and money, by contacting them on your behalf. That way, when you come down, we have already previewed the property that fits your criteria and narrowed down the list for you. The savings in time means you will have more time to enjoy the warm ocean, take a nature tour, meet new people, and relax into the pura vida.

So, please browse our listings and contact us if you would like to get more details on real estate and retiring in Costa Rica. Saludos!


About Tigre

My first visit to Costa Rica was in 2002. I immediately fell in love with the warmth of the climate and people. After spending two weeks in San Jose, Puerto Viejo on the Caribbean side, and Tamarindo in Guanacaste, I knew there was a good chance I would return sooner than later. Sooner came just 6 months later when my uncle mentioned he was flying down to Costa Rica to close on a piece of property in the Southern Pacific Zone. On that trip I found my own piece of paradise above the small town of San Buenaventura, home to the San Buenas Golf Resort. Two years and 8 trips later, I decided to move to Costa Rica full time. Every day I am thankful for that decision.


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