The real estate market in Costa Rica is influenced by various factors, both economic, political and even international changes. This 2025, the real estate market will be influenced by all kinds of factors that may benefit some sectors, while others may experience changes.
With the advice of Melizandro Quirós, economist and executive director of CENFI, find out what these changes and trends will be in the real estate market for this 2025 in Costa Rica.
Real Estate Market Forecast 2025
In recent years, the Costa Rican real estate market has undergone significant changes, mainly due to global economic changes, credit policies and housing demand. In 2024, we experienced an increase in construction costs and a lack of access to affordable land.
At the same time, foreign investment in free trade zones and industrial infrastructure has boosted the construction of warehouses, industrial manufacturing, and more. The tourism sector has also experienced changes in favor of the growth of vacation rentals or short-term rentals.
Therefore, this year 2025 will be a scenario full of opportunities and challenges: where should you invest in real estate? Which sectors will benefit and which ones should you be wary of? Find out below.
Positive aspects for 2025
The growth of free trade zones or industrial investment zones
Extended free trade zones could continue to be of interest for foreign investment in the industrial and manufacturing sectors. Logistics centers, industrial parks and warehouses located in Grecia, Cartago and Alajuela could be of interest to this sector.
This growth in industrial investment is evidenced by the increase in investment and construction of warehouses in various parts of the country, such as Liberia, Guanacaste; free trade zones in Grecia and El Coyol de Alajuela.
Increased rental demand
As homeownership becomes more difficult in 2025, the likelihood of an increase in rental searches is greater. This increase will benefit both the residential, long-term and commercial rental sectors.
Similarly, in the tourism sector, the popularity of vacation rentals (Airbnb or vacation rentals) is on the rise, thanks to the popularity and interest of tourists in choosing this type of accommodation.
Improvements to road infrastructure
Thanks to road improvement projects in the Greater Metropolitan Area and other major land transport routes in Costa Rica, the attractiveness of previously inaccessible areas has been improved. In addition, these repairs will help reduce transport times, which could benefit the commercial sector.
As for the tourist and residential sectors, new roads and highways will provide convenient and fast access to different parts of the country, thus improving the quality of life.
Increase in luxury housing
The demand for luxury real estate properties, of large land extension, is increasing; both in tourist areas and in urban areas. Santa Cruz de Guanacaste, was the canton that counted in 2024, an increase in luxury constructions or properties of large extension of land.
For this reason, the sale of large lots (referring to land of more than one hectare) or properties already built, valued at high prices, could be of interest to buyers and investors in 2025.
Growing agricultural and export sectors
Although the focus has been on free trade zones, exports and manufacturing have been stable throughout this period, helping the overall economy and domestic consumption.
Investment in production farms, whether for agriculture, manufacturing products such as jams and other food products, or livestock farms, are businesses that can remain stable and strong in 2025.
Risk aspects for 2025
Rising construction costs and difficulty accessing mortgage credit
In 2025, it is expected that there may be an increase in the cost of materials and construction, which will make the construction of housing and real estate projects more expensive. This is in addition to the changes in the conditions established by the main banks for the approval of loans and mortgages.
In addition, changes in interest rates or the exchange rate (the price of the dollar) could hinder the purchase and construction of houses and real estate by 2025.
Lack of affordable land in the GAM and slowdown in the housing market.
Due to the shortage of affordable land in the GAM (Greater Metropolitan Area) sectors, the construction of low-cost homes has decreased or slowed down, leaving few options for those seeking affordable homes or homes with limited budgets.
Similarly, the construction of homes of less than 100 square meters has decreased, while the construction of high-end projects and luxury properties has increased.
Uncertainty Due to International Political Changes
Changes in international politics could bring changes that affect the business and investment sectors in Costa Rica. Since these are external changes, predictions regarding these changes are uncertain. However, it is advisable to keep an eye on changes in trade trends.
This 2025 is a year full of new real estate opportunities, and if you want to make the most of these changes, don’t hesitate to work with experts in the real estate market. At Nativu, our advisors stay up to date with market trends and can help you make the best decision for your real estate dreams.
Don’t hesitate to contact us now and start invest wisely.
