Hello everyone,

As with every beginning of the year in Nativu Guanacaste, we try to look into our crystal ball and predict what lies ahead in the real estate realm in this incredible area of the world.

Exchange Rate

In 2023, we experienced the steepest drop in the exchange rate that we have seen in a long time. I believe we finally reached the lowest point that the BCCR will allow, as it has been actively buying more dollars in the market, preventing the dollar from dropping below the 500 colones mark.

This has many repercussions for 2024. New constructions have become considerably more expensive, so we will not see many reductions in the sale price of developments that experienced this dollar drop in the last 12 months.

The positive aspect of this drop is that it allows Costa Ricans who earn in colones to access the real estate market in Guanacaste again, mainly in the case of lots, as the drop in the exchange rate affects them positively both in cash purchases and access to mortgage loans.

Buyer’s Market

2024 will continue to be a buyer’s market. Property owners are willing to negotiate a little more and even finance transactions directly. Those owners/developers who managed to build before 2022 may make price reductions to stand out in the market.

Water, Water, Water

Many areas in Guanacaste are not issuing water availability permits for new constructions, partly due to the intervention of AyA in some of them. This puts a brake on the development of the area in some places. Personally, I believe that although it may be bad for business, it is good to create a balance with our ecosystem. It is also a barrier to prevent the volume of developments from being excessive.

2024 will be a year of stability, which we hope will translate into a better level of confidence among real estate buyers.

Thank you very much.