For the wealthy, Costa Rica has not only been a sanctuary but also an intelligent place to invest in real estate. For the rich and famous North American, Costa Rica has been a destination choice because of privacy, safety and security, ease of access, being only 5 hours or less from most North America cities, and of course that ultra-opulent eco luxury lifestyle experience.
Value, this is the keyword for many of the affluent seeking luxury real estate in Costa Rica, so let’s compare Costa Rica value to other Central American destinations of choice for the wealthy.
|Location:||Costa Rica||Los Cabos||Saint Martin|
|Construction size:||10,500+ Sq. Ft.||2,900 Sq. Ft.||2,675 Sq. Ft.|
|Property size:||2.5+ Acres||.1 acres||.5 acres|
|Garage:||4+ cars||1 – 2 cars||3 cars|
There is another aspect to value for high net worth individuals (HNWI’s as they are affectionately referred to in the luxury market) and that is richness of experience and accessibility to experience outside the home.We found that HNWIs selected Costa Rica over other well known destination in Central America and the Caribbean because of Costa Rica’s unique and diverse eco experience and adventure as well the variety of activities and places that are a stones throw away; volcano’s, bio-reserves, canopy tours, jungle treks, a plethora of beaches usually within 1.5 hour drive, metropolitan accessibility, the list goes on and on. The Costa Rica experience is a high value factor for those wanting unique and diversely rich experiences.
Safety is also a high value factor in the decision cycle of the well-off looking for luxury real estate. One the main reasons HNWIs did not choose other destinations in Central America and the Caribbean above Costa Rica was they felt they would be “trapped” in their residential or resort area, not able to freely travel and experience the country in safety or in the case of the small Caribbean islands, the lack of diverse experiences because of size. Costa Rica is rated one of the safest places in Central America. Like anywhere there are certain parts of any city where you would not travel, but Costa Rica has invested heavily in safety, security and its police force and many luxury real estate buyers point to this very fact as one of the main reasons they chose Costa Rica over other destinations.
Costa Rica has changed considerably as North America emerges from the Great Recession
In Costa Rica, the past 3 years of massive market swings and global economic turbulence has changed things in the luxury market. From a buyers perspective it is an incredibly intelligent time to buy as markets have shifted from a seller’s market to a buyer’s market. Comparatively speaking, in Costa Rica, with inflation accounted for, prices are back to early 2000’s, or even earlier!
Another important change over the past few years for luxury home buyer’s seeking opportunity, especially in the Costa Rican Central Valley is that infrastructure has improved tremendously. One area in particular where access has vastly improved is Heredia which is why Heredia has seen a surge of interest in luxury real estate.
Now only 30 minutes from the airport and 30 minutes from San Jose, Heredia has become the destination choice for many affluent home buyers and investors seeking luxury real estate.
Heredia Costa Rica
Winding through roads above the city of Heredia, known as “The City of Flowers”, you will find charming little towns surrounded by lush tropical flora and fauna, coffee plantations and sweeping views of the Central Valley and San Jose.
In Heredia’s surrounding heights you will also find some Costa Rica’s most exclusive luxury estates, hidden jewels in a tropical paradise. Designer luxury homes perfectly nestled in lush gardens, built from the finest stone, marble and woods with stunning architectural splendor, many created by the most well known visionaries.
“Costa Rica is really only about 10 years old in terms of luxury real estate and luxury development” said Philip Pleger, designer and owner of the Atrium House overlooking the central valley in Heredia. Continuing he stated, “So there is a great deal of opportunity for international people that are able to take advantage of a real buyer’s market in Costa Rica.”
On the market at just under $2.5 million USD, the Atrium House features perfect location, panoramic city and mountain views, horizon pool, large, secure, beautifully landscaped property, 5 bedrooms, travertine marble, vaulted ceilings and an open floor plan with flowing beauty throughout the rich, spacious design.
When asked what he likes best about the property, apart from its luxurious style, “You can leave the US, be here sitting pool side, enjoying the best views in the Central Valley and be de-stressing in a few hours, that and easy access to the city and beaches, for me this is important.
In part 2 of Luxury Lifestyle is more Attainable than Ever in Costa Rica we will take closer look inside this luxury designer home and see what you get for a cool $2.45 million.
Contact us for more information on Costa Rica Luxury Real Estate and one of our Experts will be glad to assist you.
The Costa Rica News (TCRN)
San Jose Costa Rica