Remember when the Happy Planet Index officially voted Costa Rica the happiest country on Earth? If not check out this link.

Unsurprisingly this amazing accolade has manifested itself in Costa Rica recently being recognized as the planets leading tourist destination. The global tourism monitor survey asked 23,000 vacationers to identify the places that they had visited in the past 12 months, and whether they would recommend those places based on their experiences. According to figures from the Costa Rican Tourism Board Costa Rica hosted a record-breaking 2.4 million tourists in 2013.

For the full story click here.

With an endless supply of guaranteed rental income this increase in tourism has obvious positive repercussions for property investors. With its endless array of perfect beaches, lush landscape and perfect climate Costa Rica is rapidly becoming the planets most desirable vacation home destination. And at the forefront of this trend is beautiful town of Nosara. At a time when investment markets and property values in Europe and North America are stalling, the Guanacaste coast is on the fringe of a spectacular property boom. And where are the smart investors focusing their attention? You guessed it – Nosara. If you feel it’s high time to green light your dream of a vacation home in paradise get in touch with us now.

It’s been a while but we’re back…

Let’s start by addressing the gap between Nosara Real Estate Report entries. It’s simple: we’ve been busy. How busy? Well, the hard work and dedication of the Nosara First Choice Realty team was officially recognized when head honcho Jeffrey Grosshandler was named top Remax sales performer in Costa Rica for the months leading up to April 2014 – an accolade not won by sitting around twiddling ones thumbs. It represents two things:

1. That Jeff and his team have been running around like men possessed in order to serve the needs of the many Remax clients that have walked through our door. In order to meet the needs of this increasing client base we have had to double our office space.
2. That Nosara is well and truly on the map, and is gaining deserved recognition as the clear investment favorite as the Guanacaste Real Estate Boom approaches.

Residents and returning visitors have always been aware of what a truly special place Nosara is. Well, apparently someone shared the secret with the outside world. The deluge of media coverage from CNN, the New York Times and National Geographic (amongst others) highlights the extent to which the spotlight has been directed at our secluded little jungle hotspot.

At the close of last year The Municipality of Nicoya reported that in 2013 it gave the go-ahead for approximately 650 commercial and residential building permits in the Nosara area. This marks a 23% increase on the previous season. Evidence of this expansion is manifest in the increasing amount of construction taking place all over Playa Guiones, and the 2014/15 season is showing all the signs of being even stronger.

Right now people are visiting from all over the globe looking to stake a claim in Nosara. These individuals need unbiased, reliable information from a source with its finger firmly on the pulse of the market, and that is where the Nosara Real Estate Report comes in. From herein we will be bringing readers fresh, consistent, well-sourced information concerning the state-of-play in the Nosara real estate market. So stay tuned – we hope you enjoy reading as much as we enjoy sharing.

Regards

First Choice Realty Nosara

Remax First Choice Realty – Responsibility in Progress

Costa Rica has it share of accolades but you can put another “happiest country in the world” mention on the list.  WallStreetCheatSheet.com mentions Costa Rica as the #1 Happiest Country in the world…

“According to the Travel Channel, Costa Rica is the happiest country on Earth. It’s army-free, citizens have a life expectancy of 79.3, and they’re surrounded by a beautiful setting that’s sure to improve any mood. Expect beaches, volcanoes, rain forests, and pretty great weather most of the time. “Pura vida” is a local saying there, meaning “life is good.”

So we already know that Costa Rica is a relatively happy, laid back place to spend some time, a vacation, or as a place to live and settle. Most people that come to Nosara are usually drawn by one of two things: Surfing or Yoga. Well – as it turns out, surfers may have an advantage when it comes to the “happiness” factor – that goes far beyond just the adrenaline rush that most people associate with it.

According to scientists – riding waves leaves a lasting mark on your general happiness. Here is the explanation according to TheInertia.com 

While surfing, we experience elevated levels of Adrenalin and Dopamine. Adrenaline raises your heart rate and increases your reaction time (the fight or flight reflex), while Dopamine is a chemical neurotransmitter triggered in your body when you are doing something you like. “Adrenaline junkies” – such as big wave surfers – get used to higher levels of these chemicals, as demonstrated by Keanu Reeves in Point Break.

 

While this adrenalin rush may give us an edge in the water the effects subside quickly once ashore, while surf-stoke remains long after we’re back on the beach. Research suggests these persistent effects of surf euphoria may be attributed to an unlikely candidate: sea spray.

The turbulence created by breaking waves alters the physical structure of the air and water, breaking apart water and air molecules and releasing charged ions* into the atmosphere. On their eternal quest for perfect waves surfers inevitably encounter this altered atmospheric state.

Some scientists are convinced this abundance of negative ions has a positive effect on mood by triggering the release of endorphins and serotonin – the “happy hormones” – and increasing blood flow and oxygen circulation through our bodies.

So come visit Nosara Costa Rica -catch some waves, enjoy the “Pura Vida”, drink some Pipa Fria, eat some Gallo Pinto and Casado dishes from a local Soda – but be sure to go surfing and play in the “ions” that are to leave a long lasting “tranquillo” feeling after you are out of the water and back on land. Now it is time for my daily dose of “happy ions”..See you in the water!

Looking for a Long Term Rental in Nosara? How about a private estate, with 100 acres, just a 2km drive to the Nosara Airport, 10 minute drive to the Del Mar Academy, and 20 minutes to Playa Guiones? Villa San Juan is available for long term rent for $5,000 per month plus utilities. See the full listing here.

This property is located in San Juan mountain, about 20 minutes from Playa Guiones, and just 2 km from the Nosara Airport. It boasts 100 acres of property, private entrance, guard house, caretakers house, 5 car garage with mechanics pit, main residence that is over 10,000 sq feet, and has every bell and whistle imaginable for a residence of this type. Property has manicured courtyard with hedgerows, walkways, two pools, resort type amenities, pizza oven, 2,000 square foot guest house, helipad, fruit orchards.. the list goes on and on. It has been recently renovated. Kitchen suitable for hosting events of up to 500 people – All Viking appliances, dual dishwashers. Floors are inch thick cut stone throughout. Master Suite is over 2500 square feet that includes both men’s and women’s separate master bathrooms with multiple walk in closets, soaking tubs, and views of Playa Guiones. Incredible architectural details, privacy, and luxury.

Amazing Ocean View Home For Sale in Nosara, Costa Rica. Click here for the full listing!

One of the finest views of Playa Guiones – this home is a cozy 2 Bedroom 2 Bath, with tones of storage and outdoor space to boot. Located in a peaceful and quiet part of “the hill” – Casa Miel is a perfect match for those looking for simplicity and comfort. The views are of the main surfing break of Playa Guiones – watch the surfers playing in the waves each morning. Spend the afternoons lounging in the infinity edge pool, waiting for your own private viewing of the sun setting behind the Pacific Ocean each day. With 1600 m2 – this is a very large property – making the combination of location, size, and views very rare.

See the listing here..

We are already a couple weeks into 2014. What do I think of the Nosara real estate markets this year? Well – the fact that it has taken me this long to update the blog stems from one reason and one reason only – I have been busy with clients all day, every day. The market is extremely active and buyers are out in force. The landscape is changing with new construction, and more on the way.

The current trends and future predictions for the rest of the 2014 year are:

1) Tourism is off the charts – The article in CNN referencing Nosara as a Top 11 Worldwide Destination to Visit absolutely super-charged the numbers of visitors to start the season. Sunsets are no longer just a couple dozen people, by any means – Nosara is a changing place and a major tourism center.  In 2012 it was NY Times – This year, CNN hit the “turbo” button. Real Estate, in general, tends to follow the trends in tourism. 2014 could prove to be one of the busiest seasons and compare to 2004-2006 growth levels.

2) Buyers are aware that they have less options and that all of the “good deals” are gone. They rarely come up, and due to the lack of these “good deals” buyers are more open to paying the asking price if a property is priced correctly. In some cases, properties are selling for higher than original asking prices. This is not quite a trend, but by the end of the year, I have a feeling this will be the norm. Especially on the choice lots or homes that enter the market – when priced correctly, they will seller at ask or higher..

3) Sellers are less willing to negotiate. When sellers get realistic about selling a property – they are still hesitant to negotiate due to the public awareness of market activity. Property owners, many of whom did not have a property on the market, may decide to enter the market and test out the waters, but not have much flexibility in prices as well, with no real motivation to sell.

4) Continued improvement in construction techniques and building materials.

5) As construction prices rise – lots may become less popular as buyers find value in renovation projects, especially those with exceptional locations. Combine this fact with the recent surge in prices of lots – it makes many “project” properties more palatable to buy and renovate, instead starting from scratch. Concrete and Rebar has become much much more expensive.

On our post that can be found here:

https://www.nosararealestatereport.com/2012-trends-in-real-estate-in-usa-and-2013-predictions-a-trickle-down-effect-to-the-nosara-real-estate-market/

We had made some predictions about the market in 2013. Lets review:

1) Change in demographic of buyers in Nosara. With all of the recent press the area has received, the demographic of buyers in the area has evolved – where as in prior years or eras in Nosara, location and access to the beach was the most important factor, buyers are now looking for high quality, luxury finished homes for sale. The market will shift more towards “quality of construction” and “turn key” product rather than a thatched roof shack on the maritime zone. This phenomenon can be seen in other markets in Costa Rica that are a bit more advanced than here in Nosara, including places like Papagayo, Playa Coco, and Playa Flamingo.

 

Take a drive around town these days – the homes that have been built here, and some of the new resorts, and yoga centers are just stunning. The quality of new construction and the budget of 2013 buyers all demonstrate the trend in this direction.

2) Property prices will trend upwards, but appreciate in the single digit percentage range. In years past, Nosara had at times experienced rapid appreciate of raw land prices, especially in Playa Guiones. The years of 10-30% price appreciation is over, and now we can expect something a little more inline with inflation and GDP numbers.

Well – I was way off the mark on this one. Land prices, are up 50%. Yes – 50%. I know this might sound crazy, but yes – I can give you details if you would like the info, please contact me. Lots that were $90 per m2 last year are trading at $140 this year. Lots that were $250 m2 are trading at $375 m2. I guess when put in perspective, it is more like, prices are up 50% over the last 4 years… even though prices were flat for 3 years – it makes the leap look a little more in perspective. Considering the S&P and stock market were up about 30% this year and the fact that it is up over 100% from 2009 – it isn’t quite such an unexpected event.

3) Construction, construction, and more construction. Its almost impossible to find a home for each buyer we have in our office. Buyers are more sophisticated and know exactly what they want, but are smart enough to see the benefit in buying a lot and going through the construction process instead of purchasing something they don’t particularly love, even though it may have great potential.

No need to even go over this one – there is more construction in 2013 and into 2014 than probably ever before in Nosara. Driving around, you can’t escape a construction site within walking distance.

4) The market will expand outwards and upwards. As the subdivisions in the beach areas get smaller and smaller, those who are coming to Costa Rica to live in harmony with nature, will be turned off by the 200-300 square meter lots being carved out in the areas closest to the beach. Buyers will find that the risk reward for searching for properties just outside the main beach areas will give them flexibility in saving the majority of their budget for construction, and not just on the land price. Additionally, sophisticated buyers looking for a “second home” will want more property for the same price, and will look elsewhere besides the beach lots, for privacy and tranquillity. Additionally, I anticipate that new markets will open in the mountain areas surrounding Nosara because of the cooler, much more comfortable climate, and the amazing views.

The markets outside of Nosara were pretty cold for most of 2013 but there was a flurry of activity in the 4Q and going into 2014. These are once again, viable, active markets.

5) The rental market will go from “red hot” to “inferno-surface of the sun-nuclear fusion”. You can’t stop the best press – word of mouth – and events have been set in motion that only bode well for the real estate market here. Although many clients are here looking for a property “to call their own”, we will see more investors and financially savvy buyers entering a market where the requirements for a property is different than those looking for a vacation home for themselves.

Also no need to review this one – The rental market cannot keep up with Supply. Christmas and New Years, are standard to be booked over a year in advance. Most rental homes and hotels were operating at 100% capacity during the high season and were not dramatically affected by the slower tourism seasons from May-August, since the numbers were still high when compared to prior years. In Fact,  2013 marks the first “rainy season” of September and October that nearly every business, restaurant, and shop in Nosara remained OPEN FOR BUSINESS. That is an indication of the transition year 2013 has proven to be.

6) Large scale developers will enter the market in force. Real estate investors have had enough time “sitting on the sidelines” They are ready to act, and act in force. As returns for traditional investments such as stocks, bonds, and commodities dry up and can only offer rates in the 1%-3% range, large scale real estate developers will be looking for the next “big” thing, and its just a matter of time before we see some very special projects going forward here. I do believe that any developer that is willing to put money to work in Nosara will also try to stay true to the ideals and philosophies laid down the by forefathers (and mothers) of the area, and develop properties in line with expectations for the area. Responsible development is the key, as Nosara is a very unique and special area. But, it is ready for a large scale, sustainable development that will provide high quality accommodations to the area, as well as amenities, in a uniform and productive manner.

To this date, no large scape developers are moving forward – maybe this prediction was a bit premature, only time will tell in 2014!

Can you say “Wow!!” – This homes is the quintessential Costa Rica tropical escape – with every bell and whistle you can imagine. Large, lofted Rancho bedroom, MAstuer Suite, Two Outdoor Showers – The list goes on and on. and SO close to the beach. Listen to the waves day and night. This property also has potential to convert to a botique B&B or Cabina Surf Camp.

See the Listing Here

Nosara, Garza, Ostional, and San Juanillo all are located within the Blue Zone comprised in the Nicoya Peninsula. But what exactly is a Blue Zone?

A Blue Zone is a popular term that refers to locations in the world where people live longer, healthier and more active lives than anywhere else on earth. Five small Blue Zones have been identified on this planet where people living active lives to a 100 years is common.

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