Property values in Costa Estados Edit page

Fair Market Values for Costa Estados Lots and Residences

Buyers need to be aware of possible undeclared fees, taxes owing and other  encumbrances that are attached to the asset as well as the corporation if the buyer acquires that as well. Due dilligence by CR real estate agents and lawyers has not been up to developed countries' standards. For example, many real estate agents in CR are unlicensed and there are "pretend lawyers" as well. (Check www.  ???? .cr ) if your lawyer is recognized and in good standing with the bar association).also see other CCE document about your Rights , Obligations and Options of lot owners. (Will be attached to this document).

In a transparent market, prices for lots and homes will tend to reflect the fair values that buyers and sellers can transact with confidence. When a market is balanced, an average equilibrium value is recognized. When buying interest drops, all else being equal, prices will tend to drop. Conversely, when buying interest grows, prices will tend to increase. Unfortunately, Costa Rica does not have a Regulator real estate board with vetted  Multiple Listing Service (MLS).

Other factors to monitor:

Prices in popular towns and cities, and resorts will tend to be priced in U.S. Dollars. This reflects the currency indicative of international/residential and investment buyers, the predonminent price influencer. Prices in CR Colones tend to be more volatile due to currency fluctuations.

Lots and house will transact at prices that reflect paid up utilities, property and luxury taxes and Condominium fees (as applicable), and transfer tax,  real estate and legal transactions fees.

Specific to the Central Pacific area in Puntarenas ( Esterillos/Parrita),
there are several developments in varying degrees of completion operating under condominium or agricultural socity laws and by-laws. Notwithstanding, Condominio Costa Estados at Esterillos (CCE has been besieged by bad actors drawn by the potential to make money off the foreign owners. CCE appears to be turning the corner though with due diligence of the underfunded Administstion. Supportive Owners and more work and is needed to  enhance long term credibility of the Condominio.
Personal self-interest, shady lawyers and discount selling/churning real estate agents using misinformation and disinformation still need to be reckoned with.

The Costa Estado lot and homes have risen considerably in the past couple of years but remain well under initial sales prices from  2006-2007 pre-developmenr sales prices program prior to the 2008 Great Recession

                       2006/07 *         2022/23
View
MOUNTAIN        $60 -65,000.       $25-35,000
OCEAN.            $90 -100,000.      $55 -70,000
PANORAMIC     $120-150,000.       $95 -$100,000
HEAVENLY.       $250 -325,000.   $125-200,000

(*) Access to Esterillos Oeste Club house promised

Houses of varying designs and quality are typically re-sold for $75-200 per sq foot of air-conditioned floor space. (excluding furniture)

The current property  tax valuation benchmarks used by Punterareas Province and used by the Municipalidad of Parrita is $ x per metre squared ... ( typical lot is .......(per  www. ????. Cr pdf to be attached). No distinction is made by view for tax purposes. The appeals and review pocess for indivdual lots ( even for very similar neighbouring lots) is flawed and manipulated. What is usefull is how individual projects' average valuations vary. For example Condominio Costa Estados at Estriillos is valued above Condo X  but lower than  lower than Condo Y.

The number of houses and lots that have have changed hands, and new build houses in the queue is encouraging suggesting CCE prices have some room to improve as prices structurally (with headwinds from slaes of bank lots) but will  approach a fair equilibrium value in time. It takes patience and monetizing a lot value by building the right house for the lot provides the best assurance of an adequate return.

If an agent tells you that your lot is worthless
and offers to take it off your hands....  that can be easily challenged, so long as your HOA fees and taxes are paid up prior to sale closure.

Furthermore, water, electricity, internet, cellular and security services are robust and if you hear otherwise about your lot, challenge the source to provide facts. There are straight forward fixes to special circumstances that may occur for any lot.