Just Make an Offer: Why Now Might Be the Time to Buy in Costa Rica

In today's Costa Rican real estate market, particularly in the Osa region, we're seeing an interesting dynamic since the start of 2025. While many property prices remain elevated from post-Covid inflation and the influx of lifestyle migrants, market indicators suggest we're in a buyer's market. With more properties available for sale than ever before, including both newly constructed personal homes and spec builds, buyers have unprecedented opportunities – if they're willing to make the first move.

The Current Market Landscape

Recent data tells a compelling story. Of the 852 properties currently listed:

• 66 properties (7.7%) have seen price reductions since January 1, 2025
• Only 18 properties have sold in January and February 2025 (so far) – a 38% decrease from the same period last year
• 50 new listings have entered the market since the start of the year

These numbers paint a picture of a market ripe for negotiation. While 2024 has shown an average list-to-sold price ratio of 90%, this shouldn't discourage potential buyers from making offers below this threshold.

Why Make an Offer Now?

As one recent Canadian buyer noted, Costa Rica offers more than just a property investment – it provides an escape from broken systems and high living costs. It's a place where daily life can feel rejuvenating and energizing. While many potential buyers are waiting for prices to drop further, this waiting game could mean missing out on the perfect property.

Remember: "You miss out on 100% of the offers you don't make," as Brianne Ribson, our office administrator at Osa Tropical Properties, aptly puts it.

Regional Development and Infrastructure Upgrades

The Osa region is undergoing a remarkable transformation that makes this an especially strategic time to invest. Significant infrastructure improvements are reshaping the area's accessibility and livability:

• Road Infrastructure: Major paving and improvement projects are enhancing connectivity throughout the region
• Water Systems: Upgraded water infrastructure is being implemented to support growing communities
• Education: New schools have opened their doors, expanding educational opportunities
• Business Growth: A surge of new businesses is creating a more vibrant and diverse community
• International Airport: In a landmark announcement, Costa Rica's president has confirmed that archaeological surveys are complete, and plans for construction are moving ahead for a new international airport in the region (this is not a 100% done deal but it is the closest this region has come to getting approval on an international airport)

These developments signal a new chapter for the area. Once these improvements are complete, property values are likely to rise significantly as the region becomes more accessible and attractive to both residents and investors. The combination of enhanced infrastructure and added conveniences makes this an opportune moment to invest before prices reflect these substantial improvements.

Preparing for Your Property Search

Before visiting Costa Rica to view properties, consider these essential steps:

1. Financial Preparation
• Determine your budget and financing options
• Gather proof of funds or pre-approval documentation
• Consider currency exchange rates and transfer methods
2. Market Research
• Study different regions and their unique characteristics
• Research property types available within your budget
• Understand the local market trends and pricing history (use us for this!)
3. Professional Support
• Connect with an experienced local realtor who understands post-Covid market dynamics
• Arrange for legal representation (we can help make recommendations)
• Plan for property inspections

Making Your Offer

The key to success in today's market is understanding that making an offer is the opening of a thoughtful dialogue between buyer and seller. While it costs nothing to put an offer on paper, this initial step should be strategic and well-informed. Your realtor can help you analyze recent sales data, identifying properties that closed below asking price and understanding the terms that made those deals successful. This market insight allows you to craft an offer that balances your interests with current conditions – perhaps including flexible closing dates, reasonable due diligence periods, or other terms that might appeal to sellers while protecting your interests.

Remember that an initial offer is non-binding; it simply expresses your serious interest and opens the door to negotiations. If terms can't be agreed upon, you can walk away without obligation. This freedom to explore possibilities makes it particularly worthwhile to put forth offers in today's market, where sellers may be more receptive to negotiation than in recent years.

 Your educated realtor can help you:

• Analyze comparable sales
• Consider the property's time on market
• Factor in post-Covid price inflation
• Structure an offer that's both competitive and reasonable

The Value of Professional Guidance

As long-time OTP agent, Rebecca Rowntree, emphasizes, "There are no dumb questions." Working with an educated realtor who understands the current market dynamics is crucial. They can provide:

• Detailed market analysis
• Negotiation strategy
• Confidence in making appropriate offers
• Understanding of post-Covid markup impact and how to avoid paying too much for a property

Moving Forward

While properties may currently be overpriced due to post-Covid inflation, the market shows signs of adjustment. With more inventory available than ever before, buyers who act now – with reasonable, well-structured offers – may find themselves ahead of the curve.

The perfect property might be available right now, waiting for the right offer. Don't let the fear of rejection hold you back. In this buyer's market, a thoughtful offer could be the first step toward owning your piece of Costa Rica's paradise.