Costa Ballena Real Estate: What 2025 Revealed — and What 2026 Is Setting Up

As we move out of 2025 and into 2026, one thing is clear: the Costa Ballena real estate market has not slowed so much as it has clarified. Last year was defined by uncertainty, adjustment, and patience. This year is shaping up to be about decisiveness, value alignment, and momentum.

Our team spent much of 2025 observing how buyers actually behave—not how we assume they behave. When pricing, condition, and expectations align, the market responds quickly. When they do not, listings linger. The data and lived experience tell the same story.

Pricing Has Become the Market’s Loudest Signal

In 2025, buyers showed an almost uncanny ability to recognize fair value. When a property was priced properly, it sold—often quickly. When it was priced above market, activity stalled. Inventory remained high across the region, but absorption was highly selective.

This has rewarded sellers who were proactive and realistic, and it has challenged those anchored to peak-cycle pricing. Pricing slightly below perceived market value consistently produced better outcomes than holding firm and waiting. The market rewarded confidence and punished hesitation.

Where the Deals Actually Happened

Despite headlines about luxury, the bulk of real transactional activity last year happened under USD $500,000. Most buyers we worked with were operating within this range, even though interest certainly exists above it. That lower-to-mid segment remains the most liquid part of the market.

Chontales homes stood out as a notable exception to broader slowdowns. Its relative affordability has translated into stronger sales activity. Buyers with fixed budgets consistently found more compelling homes there than in higher-priced neighboring areas. Value, not prestige, drove these decisions.

Inventory Is Abundant—but Not Equal

As of now, there are 907 active listings across Costa Ballena, representing nearly USD $900 million in total market value. Almost half of this inventory is residential, while vacant land still accounts for over 40%—a key reason land absorption has remained weak.

Uvita, Ojochal, and Dominical dominate both listing count and total value, together accounting for roughly two-thirds of the entire market’s inventory value. Dominical, in particular, carries a disproportionate share of high-end exposure relative to the number of listings, which helps explain slower absorption at the top of the market.

What Buyers Want (and Don’t Want) Right Now

Turnkey has become non-negotiable for most buyers. Homes built within the last three years now represent approximately 45% of residential inventory, and these are consistently the most competitive listings.

Buyers are gravitating toward newer, well-designed homes that are easy to maintain. Ocean views are no longer essential if a property offers something else compelling—strong interior design, a great location, privacy, or efficient layout.

What buyers are actively avoiding are heavy fixer-uppers. With high construction costs, limited contractor availability, and an abundance of move-in-ready options, the appetite for major renovation projects has largely disappeared.

The Structural Sweet Spot: 2–3 Bedrooms Under $750K

The data confirms what agents experience daily: 2–3 bedroom homes under USD $750,000 form the core demand zone of the market. Three-bedroom homes, in particular, appear in every price band up to USD $2 million and remain the most flexible, liquid format across cycles.

Once homes exceed four bedrooms, they almost immediately move into USD $1 million-plus territory, where buyer pools shrink and absorption slows. These properties can still perform exceptionally well—but only when priced and positioned correctly.

Vacant Land and Multi-Unit Properties Face Headwinds

Vacant land has struggled in 2025 and continues to face resistance. Higher construction costs, driven by currency dynamics and material pricing, have dampened enthusiasm. Many lot sellers have also been reluctant to adjust pricing, creating a standoff with buyers.

Similarly, larger multi-unit residential properties have been harder to move. Homes with a main house and a casita still perform well, but anything beyond that tends to narrow the buyer pool significantly.

Bright Spots in Commercial

Certain commercial properties have remained active, particularly those that are well-maintained and easily adaptable. Buyers are less focused on immediate ROI and more interested in properties that allow for creative repositioning—boutique hotels, retreat centers, or mixed-use concepts—without structural risk.

Ease of conversion, condition, and flexibility are proving more important than yield projections alone.

The Macro Backdrop Still Matters

Much of 2025 unfolded under the shadow of global political and economic uncertainty. U.S., Canadian, and European buyers all paused at different moments, waiting for clarity. As that uncertainty has begun to settle, we are seeing renewed movement.

The U.S. dollar remains strong relative to both the Costa Rican colón and the Canadian dollar, continuing to shape buying power. Canadians, in particular, are feeling pressure everywhere—not just in Costa Rica. Meanwhile, concerns about safety, stability, and quality of life are pushing many North Americans to reassess where and how they want to live.

We are hearing this directly from buyers: fatigue, stress, and a desire for optionality. Many are not planning to live in Costa Rica full-time, but they want a foothold—a place they can access when needed, in a community they trust and enjoy. Costa Ballena’s diversity of micro-communities continues to be a major draw.

Looking Ahead for 2026

Momentum is building. While not every segment will move at the same pace, the overall market feels healthier, more rational, and better informed. Buyers are decisive when value is clear. Sellers who prepare properly—pricing realistically and addressing due diligence early—will have a significant advantage.

With Costa Rica’s own elections approaching, preparedness matters more than ever. Proactive due diligence before listing is no longer optional. Addressing zoning, water, access, and regulatory considerations upfront can be the difference between a smooth transaction and a stalled one.

The Bottom Line

Costa Ballena is not a speculative market right now—it is a discerning one. Homes that meet buyers where they are, in price, condition, and expectations, are moving. Those that do not are waiting.

For buyers, opportunity lies in choice and leverage. For sellers, success lies in realism and preparation. As 2026 unfolds, the market is not flipping wildly—it is aligning. And alignment is where deals happen.

If you’re feeling aligned with taking the next step in your Costa Rica journey, our experienced team is here to help you think it through. Reach out anytime with questions about buying, selling, or planning your move at info@osatropicalproperties.com.