2024-2025 South Pacific Costa Rica Real Estate Market Report

January 17, 2025 in Real Estate in Costa Rica, Tips for Buyers, Tips for Sellers

2024 Year End Costa Ballena Real Estate Market Report: Exclusive Insights from Osa Tropical Properties

By Osa Tropical Properties

At Osa Tropical Properties, we pride ourselves on delivering unmatched insights into the real estate market in South Pacific Costa Rica, with a particular focus on the vibrant Costa Ballena region, including Dominical, Uvita, Ojochal, and their surrounding towns. As the only real estate company in the region committed to this level of detailed data collection and analysis, we go above and beyond to ensure our clients and readers have access to the most accurate and actionable market insights available.

This report is the result of extensive research and collaboration with our colleagues and fellow brokers across the industry. While the data presented is not entirely comprehensive—omitting FSBO (For Sale by Owner) listings and most direct developer sales—it is a remarkably detailed overview of the market, made possible through our tireless efforts to gather and organize this information in a region where access to an MLS remains unavailable.

At Osa Tropical Properties, our website functions as the closest thing to a local MLS, featuring not only our exclusive listings but also a comprehensive selection of properties from the other brokerages across our service area, ensuring you have access to all the options that meet your needs and dreams. We invest in tools and resources like this market report to empower buyers and sellers with unparalleled insights, fostering trust in our expertise and dedication to the community.

While no single report can fully capture the complexities of this dynamic market, our commitment to providing reliable and in-depth data underscores our role as leaders in South Pacific Costa Rica’s real estate landscape. We invite you to explore the trends and opportunities highlighted in this report as we look back on an exciting year for Costa Ballena real estate.

Introduction: Market Insights

This past year has been one of significant change and opportunity in the Costa Ballena real estate market, shaped by key infrastructural developments and shifting buyer priorities. New roads, bridges, and water concessions have opened up areas for further growth, including the much-anticipated bridge in Ojochal, which is nearing completion and could be ready as soon as next month. In Uvita, the new Journey School—a fully accredited primary and secondary institution—is another sign of the region’s maturation, providing families with enhanced educational options in addition to those already established in the area. This school builds on the success of its Guanacaste counterpart, which has become a highly regarded institution.

Weather patterns have also played their part, with heavy rains throughout the year affecting the landscape and timelines for development. On a broader scale, global economic uncertainty and a weakened U.S. dollar have led to a noticeable decline in “luxury item” spending, including secondary home purchases. This shift has been accompanied by a rising interest among buyers seeking permanent residences in Costa Rica—individuals and families drawn to a simpler, more grounded lifestyle away from the challenges they face back home. As one market for secondary homes declines, the market for primary residences is growing to take its place.

While 2024 has not surpassed the record-breaking performance of 2022, it remains one of the strongest years on record for Costa Ballena real estate, with total sales only $3 million below 2023. It marks our third-best year in terms of both numbers of listings for sale and total value closed. As the market adjusts to meet buyers’ expectations with increased price reductions, we are seeing signs of a poised and eager buyer base. This positions 2025 to be a potentially strong year, with many buyers ready to act when the right opportunity presents itself.

Prices for Properties in 2024

The real estate market in 2024 reflected significant shifts in buyer behavior, property types, and pricing trends. While 2022 remains the benchmark year for extraordinary market activity—driven by post-COVID lockdown demand and unique global circumstances which saw many old listings sold in a buying frenzy—the current landscape offers valuable insights into emerging trends.

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Market Overview and Price Reductions

Sales volume in 2024 remained steady but fell slightly compared to 2023, marking a 36% decline from the record-breaking year of 2022. This dip highlights the continued adjustment of the market following the boom years.

One notable trend in 2024 was price reductions across the board. Approximately 7% of all properties experienced price reductions, regardless of whether they sold or not. Among those:

18% of reduced properties underwent a second reduction.
4% of reduced properties were reduced three times.

These reductions were most pronounced in homes that were challenging to sell, including:

Older properties in busy or less desirable areas.
Homes in towns with lower demand.
Incorrectly priced listings.

Property Type Trends

The price dynamics varied significantly across property types in 2024:

Homes: The average home price in 2024 surpassed both 2022 and 2023, indicating a continued increase in property values, even as sales volume moderated.
Land: Land prices decreased compared to the past two years, with 2023 remaining the peak year for average land prices. Land without ocean views had the lowest accepted offers relative to their list prices.
Condos: Condos saw the largest price increase, with a 25% rise compared to 2023.
Farms: While farm prices dropped from their peak in 2023, they still sold for twice the average value seen in 2022, averaging $7,187 per acre. Developers are leading the trend here in buying large plots that can be subdivided, built upon, and sold. However, sold farm values varied significantly depending on location, with farms in Ojochal selling for closer to $15,000 per acre while smaller towns south of Ojochal sold for closer to $3500 per acre.
Businesses: The average value of businesses continues to drop, showing the challenges faced by new entrepreneurs without strong business plans. The weaker US Dollar is also affecting profits for hotels and other businesses, as many take payments in Dollars but pay expenses in Colones, which have risen with inflation. Buyers are realizing that success in Costa Rica takes careful planning and hard work, which is now reflected in lower business prices.

Tourism and Business Activity

Despite some rumors of slowing tourism, the region continues to experience high activity levels. Popular, well-managed destinations report strong bookings, even as competition increases with a rising number of hotels and businesses for sale. Sellers of profitable businesses are often reluctant to reduce prices, preferring to wait for the right buyer while enjoying solid ROI. However, the increase in listings for sale reflects a growing competitive market in the hospitality sector.

Regional Pricing Trends

Dominical, Uvita, and Ojochal each tell a unique story through their property prices:

Dominical: The highest average total home values were recorded in Dominical. However, the cost per square foot ($306) dropped significantly compared to 2023.
Uvita: Uvita claimed the highest cost per square foot at $312, reflecting a shift toward larger, modern luxury estates, particularly outside of the less expensive Bahia area. Road and infrastructure improvements have opened access to the higher altitude estate properties, making Uvita increasingly appealing for high-end buyers.
Ojochal: At $208 per square foot, Ojochal saw a dramatic decline in average prices, emphasizing the shift in demand toward other areas or different types of properties.

These changes highlight the evolving nature of the market and the influence of infrastructure development and buyer preferences. The movement toward luxury estates in Uvita, combined with price reductions elsewhere, indicates a buyer’s market poised for growth as opportunities align with buyer expectations.

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Popular Trends in Properties in 2024

The 2024 real estate market in Costa Ballena showcased clear trends in the types of properties buyers preferred, reflecting diverse motivations for relocating to this region.

Age and Style of Properties

The most sought-after properties in 2024 were newer and more modern, with the average age of properties sold being just 7 years. Buyers favored contemporary homes with clean lines, open layouts, and updated features that complement the natural beauty of the region.

However, there remains a niche demand for older colonial-style homes built in the early 2000s. These homes, often constructed with durability in mind, offer a romantic aesthetic and character not found in newer builds. Many of these colonial properties occupy prime locations with spectacular views, chosen decades ago by pioneering buyers who valued both scenery and privacy.

Property Size and Usage

Analyzing all types of properties sold in 2024—including farms and businesses—the average size of properties closed was 11.36 acres. This reflects a significant number of transactions involving large farms and expansive estates. These larger properties appeal to buyers seeking privacy and opportunities for self-sufficiency, such as farming, gardening, or other resource-based lifestyles, as well as developers planning large residential developments.

This trend aligns with broader global movements, as some buyers are drawn to Costa Rica to escape social and political unrest. These buyers often prioritize resource collection and the ability to grow their own food, seeking a retreat from the chaos of urban life.

Smaller Properties and Social Appeal

Interestingly, 27% of properties sold in 2024 were under 0.5 acre. This highlights the appeal of smaller, low-maintenance properties for a different segment of buyers. These individuals are often motivated by Costa Ballena's vibrant social scene, convenient services, and opportunities for year-round outdoor activities in a warm and welcoming environment.

The contrasting trends in property size underscore the diverse appeal of the Costa Ballena region. For some, it represents a chance to disconnect and live a self-sufficient, secluded lifestyle. For others, it offers a dynamic and connected community with abundant amenities and activities.

What makes Costa Ballena truly unique is its ability to cater to both ends of the spectrum: the solitude seekers and the socially active. Whether buyers are drawn to the region’s untouched natural beauty or its lively, engaging community, it’s clear that this area continues to check a wide range of boxes for those looking to make Costa Rica their home.

Trend in Sales in Costa Ballena Real Estate

Sales activity in 2024 followed a distinct seasonal pattern, with notable trends in timing and buyer behavior that shed light on how and when transactions occur in the Costa Ballena real estate market.

Seasonal Sales Patterns

The year started and ended slowly, with the first quarter and last quarter being the least active for sales. In contrast, the middle of the year saw the majority of transactions, highlighting a shift in the timing of buyer activity compared to traditional expectations.

While the snowbird months from November to March bring the highest population influx to the region, these busy months tend to attract tourists and casual lookers rather than serious buyers. In contrast, the rainy season months, though quieter, draw buyers who are more committed to making a purchase. This is likely because serious buyers want to experience the region during its rainiest and most tranquil time of year to better understand the realities of living in Costa Rica year-round before making a long-term commitment.

Closing Timelines

Another significant trend is the typical timeline for closing transactions. Most property closings occur 30 to 45 days after an offer is made. This timeline accounts for several factors, including:

Due diligence: Buyers need time to conduct thorough inspections, legal checks, and reviews of property titles.
Contingencies: Many buyers’ offers are contingent on the sale of their existing property in another country, adding another layer of timing complexity to the process.

These trends highlight the thoughtful and deliberate approach that buyers take when purchasing property in Costa Rica. The preference for purchasing during the quieter rainy season underscores the importance of experiencing the area in all its seasons. Meanwhile, the 30-to-45-day closing period reflects the diligent, detail-oriented nature of real estate transactions in this market, ensuring that both buyers and sellers can move forward with confidence.

Time on Market in 2024

Understanding how long properties remain on the market is crucial for both buyers and sellers. Sellers can use this information to better gauge when to adjust their pricing strategy, especially if they are motivated to sell quickly. Buyers, on the other hand, benefit from insights into the dynamics of quick sales versus longer timeframes.

Total Average Days on Market: In 2024, properties spent an average of 365 days on the market, a slight increase from 284 days in 2023 but nearly identical to the 374 days recorded in 2022.
Median Days on Market: The median days on market in 2024 were 231 days, a significant jump from 184 days in 2023 and 162 days in 2022.

This shift highlights two key trends:

Longer Transaction Timelines: The uptick in both average and median times on market reflects the evolving dynamics of a market where buyers are taking more time to evaluate options and make decisions. Buyers are cautious, particularly as price adjustments occur, ensuring they find the right property at the right value.
Broader Market Activity: While 2023 saw a shorter median and average timeline, 2024 aligns more closely with the extended timelines of 2022. This suggests that a mix of older inventory and buyer deliberation is contributing to properties remaining on the market for longer periods.
Higher Inventory: Over the past three years, the number of properties listed for sale on our website has nearly doubled. This growth in inventory is largely driven by the construction of new homes in the Costa Ballena area, following a surge in building permits issued in 2022.

In Costa Ballena, the average and median times on market currently hover around one year. This is influenced by several factors, including older properties skewing the data and the deliberate pace many buyers take to find the right deal and ensure a smooth purchasing process. Below is a detailed breakdown of the time on market for properties in 2024, highlighting trends in quick sales, extended listings, and properties sold within six months.

Quick Sales: Properties Sold Within 60 Days

Number of Properties Sold: 15

1 hotel, 4 land parcels, and 10 homes.

Average Sale Prices:

Homes: $700,000
Hotel: $1.7 million
Land: $150,000 (average).

Geographic Distribution:

55% of these properties were located in Ojochal.

List-to-Sold Price Ratios:

93% was the average ratio for properties sold fastest.
Of properties sold for 95% of the list price or more within 60 days, all were homes.
The sole property sold for 100% of the list price was a brand-new luxury home, sold with a seller-financing deal.

Key Features of Fastest-Selling Properties:

75% were homes priced under $500,000.
A mix of locations and ages contributed to the swift sales.

Properties Sold Within Six Months

Key Features:

74% of homes sold within six months had swimming pools.
Nearly half of the properties had ocean views, with 13% featuring sunset views.
Gated communities were chosen by 25% of buyers, making them more popular than proximity to beaches, rivers, or waterfalls.

Homes with desirable features such as pools, ocean views, or gated community settings tend to sell faster, reflecting buyer preferences for modern amenities and secure environments.

Longest Time on Market: Properties Sold After 500+ Days

Number of Properties Sold: 36

16 land parcels, 12 homes, 4 farms, and 4 businesses.

Key Observations:

Properties sold for an average of 87.5% of their final list price.
The average reduction from the original list price to the final list price was 22%, with the largest reduction being 40%.
Homes averaged a build year of 2012, reflecting older inventory.
More than half of these properties had ocean views, with all areas experiencing extended time on market.

Notable Transactions:

A piece of land in Ojochal P11, on the market for over six years, finally sold for 100% of the list price after obtaining a water concession. This property likely could have sold for even more.
Two high-end homes sold for over 90% of the list price, but only after construction was completed.
The largest price reduction came from an outdated home with minimal views, which sold for 32% less than its final list price.

Insights for Sellers

The data reveals clear trends in why certain properties sell quickly while others linger on the market:

Fast-Selling Properties: These are often competitively priced, well-maintained, and feature desirable amenities such as pools and ocean views. Brand-new homes or those with unique selling points, like seller financing, also perform well.
Properties Taking Longer to Sell: Extended time on market is common for older, overpriced homes or those requiring significant updates. In many cases, properties linger because of pricing mismatches or delayed improvements, like obtaining water concessions.

By understanding these dynamics, sellers can make informed decisions about when to adjust their pricing strategy and how to position their property to attract motivated buyers.

Luxury Properties Sold in 2024

The luxury real estate market in Costa Ballena remained robust in 2024, with strong demand for high-end properties priced over $1 million. Below is a breakdown of the trends and highlights that shaped this segment of the market.

Overall Sales Performance

Total Luxury Properties Sold: 28

86% of these were homes.
28.5% of the luxury properties sold were priced over $2 million.
One standout sale exceeded $3 million, demonstrating the strength of the ultra-luxury market.
3 luxury hotels also sold in this price range, valued between $1.3 million and $1.7 million.

Pricing and Negotiations

The average list-to-sold price ratio for luxury properties was 91.7%, indicating that buyers in this market are often willing to negotiate but sellers generally secure strong offers.
7 luxury properties underwent price reductions before selling, with an average reduction of 21.1%.

These reductions reflect seller responsiveness to market dynamics and the importance of pricing strategy for achieving timely sales.

Property Features and Amenities

Size and Layout:

The average luxury home sold in 2024 featured 4 bedrooms and 4 bathrooms, aligning with the preferences of affluent buyers seeking spacious, well-appointed residences.

Ocean Views:
- Large acreages: Some included vast farms exceeding 700 acres, catering to buyers looking for privacy, agricultural potential, or large-scale development opportunities.
- Boutique hotels: These featured exceptional amenities and prime locations, including one along the Barú River and another in the center of Ojochal.

A remarkable 92% of luxury homes sold had ocean views, underscoring the high value placed on scenic vistas in this market segment.
Properties without ocean views offered other unique selling points, such as:

Market Health and Insights

The luxury market in Costa Ballena has shown resilience and growth throughout 2024. The combination of breathtaking ocean views, spacious designs, and unique features continues to attract high-net-worth buyers to the region. Properties over $2 million—though fewer in number—demonstrate consistent demand, particularly for those with distinctive attributes like oceanfront locations or vast acreage.

For sellers in the luxury segment, competitive pricing, high-quality construction, and showcasing exceptional features are key to maximizing value and achieving successful transactions. Meanwhile, buyers can expect a dynamic market offering diverse options, from modern estates to boutique hospitality investments.

One of the most desirable features of luxury properties in Costa Rica is ample under-roof space, which provides shaded and breezy areas essential for comfortable living in the tropical climate. Large properties with ocean views and plenty of privacy are also highly sought after, as the availability of prime land has decreased with the rise in new home development.

Cost to Build a Home in Costa Rica in 2024

Building a home in Costa Ballena presents a unique blend of opportunities and challenges. While the region offers the chance to create stunning properties surrounded by natural beauty, construction costs can vary widely due to factors such as location, soil quality, material choices, and design complexity. Based on conversations with experienced builders and recent homeowners, the average cost to build in this area is approximately $170 to $185 per square foot for a medium-to-high-quality home. However, costs can range significantly depending on preferences and circumstances.

Comprehensive Building Costs

Ben Morris of Paradise Homes, a full service construction company that has been in business here for over 20 years, explains that a turnkey luxury home construction project—covering everything from architectural design and permits to landscaping and even furniture—generally costs between $250 and $300 per square foot. This figure includes not just the home’s interior but also outdoor spaces like covered patios and pools.

In addition to material costs and design choices, location significantly impacts overall expenses. Remote properties with challenging access or poor soil conditions require more resources, driving up costs. Conversely, homes closer to infrastructure or on level terrain may be less expensive to build. Ben emphasizes the variability of these costs, noting, “Our soils on these hills are sometimes very bad… once we dig in, we realize they’re not what the soil report suggested, which can increase infrastructure costs tremendously.”

This variability underscores the importance of thorough planning and a realistic understanding of potential site-specific challenges. Additionally, Ben highlights the value of transparency in his process, offering clients the ability to select from a range of premium finishes and stay informed about costs every step of the way.

Quality vs. Quantity

Michael Strickland of iBuild Costa Rica, a newer builder in the Costa Ballena region, provides fixed-rate quotes for entire projects and estimates that the cost of constructing a quality home ranges between $170 and $185 per square foot, with premium builds exceeding this range. He emphasizes that the choice of materials and level of craftsmanship are major factors influencing costs, particularly when clients request imported fixtures and high-end finishes. “People from North America often expect much lower costs but want North American quality, which isn’t always possible,” Michael says, adding that prioritizing quality over size typically yields better long-term value.

Connor Wilson of GPW Development has built 14 homes in the area and echoes this sentiment. He explains that costs can range anywhere from $100 to $500 per square meter, depending on the level of customization and the complexity of the design. Connor advises clients to avoid maximizing house size at the expense of quality, noting, “Paying more per square meter for a smaller, well-built home is always better than compromising quality for quantity.”

Satisfied new home owners will typically credit their builder for clear communication and staying on budget and schedule. Better management and knowledge can reduce costs, underscoring the value of working with an experienced builder.

Full Breakdown of Costa Ballena Building Costs in 2024

Thomas Falk of Falk Construction Consulting provides detailed guidance on his construction costs, emphasizing that final prices depend heavily on the specifications and conditions of each project. However, he offers the following indicative price ranges for different construction types and additional considerations:

Construction Cost Estimates

Prefabricated House: $110–$130 USD/ft²
Framed House (metal posts, composite panel cladding): $130–$150 USD/ft²
Masonry House (concrete blocks): $140–$160 USD/ft²
Swimming Pool (varies by model): $120–$170 USD/ft²
Stabilized Outdoor Areas Without a Roof: $30–$45 USD/ft²

These prices include porcelain tiles valued at $4 USD/ft² and cover basic connections and the installation of client-provided appliances and components. However, they exclude furniture, kitchen fittings, and sanitary fixtures like showers, sinks, and faucets.

Exclusions and Variable Costs

Earthworks: Costs for earthmoving and stabilization vary significantly based on the plot and must be estimated separately.
Additional Expenses:
- CFIA Building Permit: 0.25% of estimated construction costs.
- Municipal Building Permit: 1% of estimated construction costs.
- INS Construction Insurance: 1.4% of estimated construction costs.

Architectural and Engineering Fees: Preliminary design costs approximately 1% of expected construction expenses, while detailed plans and technical management add another 4% and 2%, respectively.

Key Considerations for Buyers

When planning to build a home in Costa Ballena, buyers should keep several factors in mind:

Transparency with Builders: Look for builders who provide detailed cost breakdowns and communicate openly about potential challenges.
Prioritize Quality: Investing in higher-quality materials and craftsmanship ensures longevity and better resale value.
Expect Variable Costs: Be prepared for expenses related to infrastructure, such as retaining walls, driveways, and water systems, particularly in areas with difficult terrain.

Ultimately, building in Costa Ballena is a highly rewarding endeavor, but it requires careful planning and realistic budgeting. As Ben Morris aptly puts it, “Quality is everything, and it’s what will last.”

Analysis of Building Permits in the Osa Region

The number of building permits granted in the Osa region provides valuable insight into trends in real estate development and demand for construction. This metric is a strong indicator of economic activity, investor confidence, and the overall growth trajectory of the area.

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In 2024, a total of 583 permits were issued across the Osa region, reflecting a decrease from 672 permits in 2023 and 720 permits in 2022, but still higher than pre-pandemic levels in 2020 (459 permits) and 2019 (509 permits).

Breaking it down further, Bahía Ballena, a highly sought-after area that includes Uvita and surrounding coastal communities, saw 277 permits in 2024, down from 388 in 2023 and 412 in 2022. This decline may point to a slight cooling in new construction, possibly due to rising construction costs, global economic uncertainties, or a shift in market focus toward existing inventory. Nonetheless, the demand remains well above pre-pandemic figures of 153 permits in 2020 and 155 permits in 2019, underscoring the ongoing desirability of this area.

In Puerto Cortés, the number of permits granted in 2024 was 180, a slight dip from 194 in 2023 and 207 in 2022, but still significantly higher than the 138 permits in 2020 and 146 in 2019. This suggests sustained interest in more rural or suburban areas as buyers seek more affordable options or larger properties.

Why This Metric Matters

Tracking building permits is critical for understanding the real estate market in Costa Rica because it provides a glimpse into future supply and demand dynamics. A decrease in permits may signal a potential shortage of new inventory in the coming years, which could drive up property values. Conversely, high levels of permitting activity often reflect strong market confidence and expectations of sustained demand.

In areas like Bahía Ballena, where much of the construction activity is concentrated, the trends in permits can reveal shifts in investor focus, such as a pivot toward luxury developments, eco-friendly housing, or infrastructure projects catering to new residents.

This data is particularly useful for real estate professionals, investors, and potential buyers, as it helps paint a clearer picture of market conditions and growth potential in the Osa region.

OTP Agent Insights on Costa Rica Real Estate

The insights from OTP’s experienced agents paint a detailed picture of the current real estate market in Costa Ballena, offering valuable perspectives for both buyers and sellers. This market is as much about the lifestyle as it is about the properties themselves, and understanding the dynamics behind sales can make a significant difference in expectations and outcomes.

The Right Buyer, the Right Time

Occasionally, properties sell almost immediately after listing. OTP’s owner and broker, Kevin Champagne, recalls a small house on a cashew farm that sold the same day he listed it. Realtor Rebecca Rowntree shares a similar story of a home that sold in just 36 hours, though realtor Marcia Oro notes that such rapid sales often come down to eager buyers finding a property that suits their immediate needs. These examples highlight the importance of preparation, timing, and market knowledge.

Managing Buyer Expectations

Properties in Costa Ballena often take longer to sell compared to other parts of the world. The process can span months as buyers first fall in love with Costa Rica, explore different regions, and eventually narrow their focus to a specific area. Although many fall in love with the “vibe” of this region, most buyers ask why some properties are priced too high based on their expectations. Our expert team reassures them by leveraging OTP’s extensive database, which tracks listing histories, price reductions, and comparable sales, giving us the ability to state whether a property is priced competitively. This allows our agents to guide buyers on making informed offers and equips selling agents with data to negotiate effectively.

Pricing Strategy for Sellers

Richard Owens, OTP realtor, advises buyers to make offers, even if they think a property is overpriced. “Make an offer! You have to get the ball rolling,” he says, noting that many sellers are reluctant to lower their prices until they see formal offers. Recent weeks have seen numerous price reductions across the market, a signal that sellers are becoming more realistic about market conditions.

Properties that languish on the market often suffer from pricing misalignment or maintenance issues. For example, one Ojochal estate, initially listed at $2.5 million eight years ago, eventually sold for much less after multiple price reductions. Over the years, its once-impressive ocean view diminished due to tree growth—a reminder of the importance of maintaining and adapting properties in line with market expectations.

Buyers Relocating Within Costa Rica

Many buyers relocating to Costa Ballena come from other regions of Costa Rica. Rebecca notes that some clients from areas like Jacó or Guanacaste initially sought places that felt like “mini-Americas,” only to later prefer the tranquility and charm of towns like Ojochal .Others are drawn here by Costa Ballena’s strong community and better services, with almost everything that North American and European buyers can expect, including things like gel nails, lash extensions, and other luxury services that are not seen, especially in such quantity and quality, in other parts of Costa Rica.

This shift underscores the growing appeal of Costa Ballena as a place that balances a local, community-driven lifestyle with access to modern amenities, services, and natural beauty.

The Balance of Local and Modern

OTP realtor, Tonya Kershner, captures the essence of the Costa Ballena lifestyle: “I walked into The Bakery Café yesterday, and every single product in the fridge—from condiments to yogurt—was made by people I know. That’s how close-knit this area is, but we still have access to incredible products and services.” This blend of familiarity and quality resonates with buyers seeking a unique balance between simplicity and modern convenience.

Why Great Properties Sell Quickly

The properties that sell fastest tend to check multiple buyer boxes:

Ocean views.
Privacy combined with proximity to services and schools.
Good construction quality, such as concrete block builds.
Features like covered terraces, swimming pools, and flat building sites with proper water management.

These listings attract buyers who trust their agents and are ready to move quickly when the right property becomes available, even in a high-inventory market.

The Costa Ballena real estate market is as dynamic as its buyers, shaped by personal motivations, lifestyle preferences, and the unique characteristics of each property. OTP agents bring unparalleled local expertise and a data-driven approach, helping buyers find their dream homes while guiding sellers to make informed pricing and marketing decisions. Whether drawn by the area’s natural beauty, tight-knit community, or modern conveniences, more buyers are discovering that Costa Ballena offers a lifestyle like no other.

Market Report Wrap Up

As we reflect on 2024, it is clear that the Costa Ballena real estate market continues to evolve, presenting a dynamic mix of opportunities for buyers, sellers, and investors alike. While the year saw moderate shifts in activity, longer transaction timelines, and strategic price adjustments, the underlying strength of the market remains evident. Costa Ballena’s appeal as a destination for tranquility, natural beauty, and community-driven living is stronger than ever, and the region is poised for substantial growth in the coming years.

Looking ahead, the potential for expansion is undeniable. Improved infrastructure, increasing tourism numbers, and the growing interest in Costa Rica as a haven for relocation and investment all signal a vibrant future for the South Pacific region. Savvy buyers and investors recognize that now is the time to position themselves in this market, taking advantage of current opportunities before the next wave of growth fully materializes.

At Osa Tropical Properties, we are committed to helping you navigate the complexities of this unique market with expert insights, personalized service, and unparalleled local knowledge. Whether you’re searching for your dream home, exploring investment opportunities, or considering selling your property, our team is here to guide you every step of the way.

Let’s plan your next move together. Contact us today to learn more about how we can help you achieve your real estate goals in Costa Ballena, where the future looks brighter than ever.

Disclaimer

This market report is intended to provide an overview of real estate trends and insights in the Costa Ballena region for informational purposes only. While every effort has been made to ensure the accuracy of the information presented, many of the figures are estimates based on the best available data at the time of publication.

All property values referenced in this report are based on listing prices unless otherwise noted, as final sales prices are not always publicly available. For more detailed or specific information, we encourage you to contact us directly for clarification.

Osa Tropical Properties assumes no responsibility for errors, omissions, or discrepancies in the data provided. Market conditions and property values can change rapidly, and we recommend consulting with one of our experienced agents for the most up-to-date information and personalized advice tailored to your needs.

This report does not constitute financial, legal, or investment advice, and readers should conduct their own due diligence or seek professional guidance before making any real estate decisions.