Authored by the expert who managed and guided the team behind the Costa Rica Property Pack
Everything you need to know before buying real estate is included in our Costa Rica Property Pack
Manuel Antonio stands as one of Costa Rica's most coveted real estate markets, commanding premium prices for its unique combination of pristine beaches, national park proximity, and established expat infrastructure.
As of September 2025, property values in Manuel Antonio reach approximately $2,900 per square meter, making it among the most expensive coastal areas in Costa Rica outside select Guanacaste luxury zones. The market benefits from consistent international demand, strong rental yields averaging 6-9%, and limited supply due to environmental restrictions that protect this iconic destination from overdevelopment.
If you want to go deeper, you can check our pack of documents related to the real estate market in Costa Rica, based on reliable facts and data, not opinions or rumors.
Manuel Antonio property commands Costa Rica's highest coastal prices at $2,900 per square meter, driven by strong tourism demand and limited developable land.
The market offers solid investment potential with rental yields of 6-9% and projected 15-25% appreciation over the next decade, though buyers face higher entry costs and should prioritize proper due diligence.
| Property Metric | Manuel Antonio | Costa Rica Average |
|---|---|---|
| Price per sqm | $2,900 | $1,021 |
| Rental Yield | 6-9% | 4-6% |
| Occupancy Rate | 56% | 45% |
| Property Tax Rate | 0.25% + luxury tax | 0.25% |
| 10-Year Appreciation Forecast | 15-25% | 10-15% |
| Foreign Buyer Financing | 30-50% down required | 30-50% down required |
| Transfer Tax | 1.5% | 1.5% |
What is the average price per square meter in Manuel Antonio?
The average price per square meter in Manuel Antonio reaches approximately $2,900 as of September 2025, making it one of Costa Rica's most expensive coastal real estate markets.
Active property listings in 2025 show asking prices averaging $2,887 per square meter, with luxury oceanfront condos and premium properties often exceeding $3,000 per square meter. These prices reflect Manuel Antonio's status as a premier tourism destination with limited developable land due to environmental protections.
Properties with direct ocean views, proximity to Manuel Antonio National Park, or luxury amenities command the highest premiums within this range. Older properties requiring renovation may start around $2,200-$2,500 per square meter, while newly constructed developments with high-end finishes reach the upper price tiers.
The pricing structure varies significantly based on property type, with beachfront condos commanding top dollar, followed by hillside homes with ocean views, and inland properties offering relatively better value while still maintaining premium positioning compared to other Costa Rican markets.
It's something we develop in our Costa Rica property pack.
How does the price of property in Manuel Antonio compare to other areas in Costa Rica?
Manuel Antonio property prices significantly exceed most other Costa Rican markets, positioning it among the country's most expensive real estate destinations alongside select areas of Guanacaste and the Central Valley's upscale neighborhoods.
Compared to other popular coastal areas, Manuel Antonio's $2,900 per square meter substantially surpasses Tamarindo's $1,400-$1,800 range, Jacó's $1,200-$1,600 average, and Dominical's $800-$1,200 typical pricing. Even against San José's urban apartment market averaging $2,340 per square meter, Manuel Antonio commands a notable premium.
Only exclusive Guanacaste developments in Papagayo Peninsula and luxury Central Valley communities like EscazĂş and Santa Ana rival Manuel Antonio's pricing levels. The national average of $1,021 per square meter makes Manuel Antonio properties nearly three times more expensive than typical Costa Rican real estate.
This premium reflects Manuel Antonio's unique advantages: established tourism infrastructure, international recognition, pristine beaches, national park proximity, and a mature expat community that creates sustained demand pressure against limited supply.
What are the current market trends for real estate in Manuel Antonio?
The Manuel Antonio real estate market demonstrates remarkable resilience in 2025, characterized by sustained high demand, limited inventory, and steady value appreciation despite broader market corrections elsewhere in Costa Rica.
Current trends show foreign buyers and lifestyle investors increasingly driving transactions, moving beyond pure investment returns to prioritize quality of life factors. High-end renovations of existing properties have become common as buyers seek modern amenities and premium finishes in this established market.
Supply constraints remain a defining characteristic, with strict zoning regulations and environmental protections limiting new development near the national park. This scarcity supports price stability and creates competition among buyers for quality properties, particularly those with ocean views or park adjacency.
The market has shown relative stability compared to other Costa Rican areas that experienced price corrections in recent years. Properties with unique features—oceanfront access, superior views, or eco-friendly designs—continue appreciating while standard inland properties maintain steady values.
Cash transactions dominate the market, with international buyers primarily from North America and Europe seeking both vacation homes and rental investment properties in this proven tourism destination.
Is the property market in Manuel Antonio expected to appreciate in the next 5-10 years?
Property market forecasts for Manuel Antonio indicate strong appreciation potential, with projections suggesting 15-25% cumulative growth over the next decade, outpacing most other Costa Rican markets.
| Time Period | Projected Appreciation | Key Drivers |
|---|---|---|
| 2026-2028 | 5-8% annually | Infrastructure improvements, tourism recovery |
| 2029-2031 | 3-5% annually | Continued international demand, supply constraints |
| 2032-2035 | 2-4% annually | Market maturation, selective development |
| Total 10-Year | 15-25% cumulative | Limited supply, sustained tourism, expat growth |
| Premium Properties | 20-30% cumulative | Scarcity of oceanfront, environmental protection |
Several factors support this optimistic outlook: continued international tourism growth, limited developable land due to environmental regulations, ongoing infrastructure improvements including airport and highway upgrades, and sustained expat relocation trends.
Properties with eco-friendly features and premium locations are expected to outperform the market average, potentially reaching 20-30% appreciation as environmental consciousness and scarcity drive premium valuations.
However, appreciation rates may moderate after initial growth as the market matures and reaches higher absolute price levels that could limit buyer pools. External factors like global economic conditions and tourism trends could influence these projections.
Don't lose money on your property in Costa Rica
100% of people who have lost money there have spent less than 1 hour researching the market. We have reviewed everything there is to know. Grab our guide now.
What is the demand like for rental properties in Manuel Antonio?
Rental property demand in Manuel Antonio remains exceptionally strong, making it one of Costa Rica's top-performing vacation rental markets with consistent year-round occupancy and premium nightly rates.
Short-term vacation rentals achieve average nightly rates of $460 with approximately 56% occupancy rates, significantly outperforming most other Costa Rican destinations. Peak season months (December through April) often see occupancy rates exceed 80% with nightly rates reaching $600-800 for premium properties.
The rental market benefits from diverse demand sources: international tourists seeking luxury accommodations, expat visitors exploring relocation options, business travelers attending conferences in nearby Quepos, and digital nomads requiring extended stays with modern amenities.
Gross rental yields typically range from 6-9% for well-positioned properties, with some premium oceanfront or uniquely designed properties achieving 10-12% returns. Properties offering specific amenities—private pools, direct beach access, or superior views—command significant rate premiums and higher occupancy.
Long-term rental demand also exists from the substantial expat community and tourism industry workers, providing income stability during lower tourist seasons and creating opportunities for mixed-use rental strategies.
Are there any significant upcoming developments or infrastructure projects in Manuel Antonio?
Several major infrastructure improvements are underway that will enhance Manuel Antonio's accessibility and property values, though development remains constrained by environmental regulations.
The most significant project involves major upgrades to Route 34, including the critical Tárcoles Bridge reconstruction scheduled for completion in 2026. These improvements will reduce travel time from San José and improve reliability for the primary access route to Manuel Antonio.
Quepos regional airport is receiving infrastructure enhancements to accommodate increased flight capacity and improved services, potentially expanding direct international access beyond current domestic and limited regional flights.
However, new large-scale real estate developments face substantial restrictions due to environmental protection laws. Several proposed projects near the national park have encountered legal challenges and permitting delays, actually benefiting existing property owners by maintaining supply scarcity.
Utility infrastructure improvements include expanded fiber optic internet coverage and electrical grid enhancements to support growing residential and commercial demand. Water and sewage systems are also being upgraded to handle increased population and tourism pressure.
These infrastructure investments support property values by improving livability and accessibility while environmental restrictions prevent overdevelopment that could diminish the area's natural appeal.
How easy is it to get financing for property purchases in Manuel Antonio as a foreigner?
Financing property purchases in Manuel Antonio as a foreigner presents significant challenges, with most buyers opting for cash transactions or alternative financing arrangements.
Costa Rican banks typically require 30-50% down payments for foreign borrowers, with interest rates ranging from 7-12% and lengthy approval processes often taking 3-6 months. Documentation requirements include extensive income verification, credit histories from home countries, and substantial bank deposits in Costa Rica.
Most foreign buyers in Manuel Antonio purchase properties outright with cash, either from savings, home country property sales, or international investment accounts. This approach eliminates financing complications and often provides negotiating advantages with sellers.
Alternative financing options include seller financing arrangements, where property owners provide direct loans to buyers, typically at higher interest rates but with more flexible terms. Some international banks offer portfolio loans secured by multiple properties or assets.
It's something we develop in our Costa Rica property pack.
Offshore financing through international lenders or home equity loans from buyers' countries of residence can provide more favorable terms than local Costa Rican financing, though these require careful tax and legal planning.
What are the property taxes like in Manuel Antonio?
Property taxes in Manuel Antonio follow Costa Rica's national structure but often trigger luxury tax provisions due to the area's high property values.
The basic municipal property tax rate is 0.25% of assessed value annually, applied to all properties regardless of ownership nationality. Assessed values are typically determined by the tax authority and may differ from market values, often running 60-80% of actual market prices.
Luxury tax applies to properties with assessed values exceeding approximately $282,000, creating additional tax obligations for most Manuel Antonio properties. This luxury tax ranges from 0.25% to 0.55% depending on property value, substantially increasing total tax burdens for high-end properties.
Transfer tax of 1.5% applies to all property purchases, calculated on the higher of the transaction price or fiscal assessed value. This represents a significant upfront cost that buyers must factor into acquisition expenses.
Property owners may also face additional municipal fees for services like garbage collection, security, and infrastructure maintenance, typically ranging from $50-200 annually depending on property size and location.
Tax planning considerations include proper legal structuring to minimize ongoing obligations while ensuring compliance with Costa Rican regulations.
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Costa Rica versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you're planning to invest there.
What are the risks of investing in property in Manuel Antonio?
Property investment in Manuel Antonio carries several specific risks that potential buyers must carefully evaluate and mitigate through proper due diligence and professional guidance.
1. **Titling and Legal Issues**: Incomplete or disputed property titles represent the primary risk, requiring thorough verification of ownership chains, boundary surveys, and registry documentation before purchase. 2. **Environmental Restrictions**: Strict zoning laws and environmental protections can limit property use, renovations, or future development potential, potentially affecting long-term value and utility. 3. **Tourism Dependency**: Property values and rental income rely heavily on international tourism, making investments vulnerable to global travel disruptions, economic downturns, or destination perception changes. 4. **Market Illiquidity**: High-end properties in Manuel Antonio can take 12-24 months to sell, limiting quick exit options and requiring patient capital for investment strategies. 5. **Currency and Economic Risk**: Costa Rican economic conditions, currency fluctuations, and political changes can affect property values and investment returns for foreign buyers.Due diligence requirements include engaging experienced local attorneys, conducting comprehensive property surveys, verifying all permits and regulations, and ensuring proper insurance coverage for natural disaster risks in this coastal location.
Professional property management becomes essential for rental properties to maintain quality standards, handle guest relations, and navigate local regulations, adding operational complexity and costs to investment strategies.
How accessible is Manuel Antonio in terms of transportation and services?
Manuel Antonio offers excellent accessibility and comprehensive services that support both permanent residents and vacation property owners, though infrastructure improvements continue enhancing connectivity.
Transportation access centers on well-maintained roads from San José, with the primary Route 34 providing reliable connectivity despite occasional congestion during peak tourist seasons. The drive from Costa Rica's capital takes approximately 2.5-3 hours under normal conditions.
Quepos regional airport provides domestic flight services to San José and limited regional routes, offering alternatives to ground transportation for time-sensitive travel. Private charter services and helicopter transfers serve high-end properties and guests seeking premium access options.
Local services include modern healthcare facilities, international-standard restaurants, established banking services, reliable utilities including high-speed internet, and comprehensive security services both private and municipal.
The area's tourism infrastructure provides services typically unavailable in smaller Costa Rican communities: English-speaking professionals, international shipping and logistics, property management companies, and established expat support networks.
Shopping and daily services meet international standards, with supermarkets carrying imported goods, pharmacies, automotive services, and professional services including legal, accounting, and real estate support specifically experienced with foreign residents and property owners.
What is the potential for long-term rental income in Manuel Antonio?
Long-term rental income potential in Manuel Antonio is exceptionally strong, driven by consistent tourism demand, a stable expat community, and the area's established reputation as a premium destination.
Vacation rental properties typically generate the highest returns, with successful properties achieving gross yields of 6-9% annually. Premium properties with superior locations, amenities, or unique features can reach 10-12% gross returns through optimized pricing and marketing strategies.
Revenue streams benefit from year-round demand patterns, with high-season rates (December-April) often doubling low-season pricing. Properties maintaining 50-60% annual occupancy rates with average nightly rates of $400-600 demonstrate the market's income-generating potential.
Long-term residential rentals provide additional income opportunities, serving the substantial expat community and tourism industry professionals requiring stable housing. These rentals offer lower yields but greater income stability and reduced management requirements.
Market sustainability factors include Manuel Antonio's international recognition, protected natural environment preventing overdevelopment, established tourism infrastructure, and growing expat retirement and relocation trends.
Professional property management services enable owners to maximize income while minimizing hands-on involvement, making Manuel Antonio suitable for both local and international property investors seeking rental income generation.
Is there a strong expat or vacationer community in Manuel Antonio that supports property value stability?
Manuel Antonio hosts one of Costa Rica's largest and most established expat and international visitor communities, creating substantial demand support for property values and rental markets.
The expat community includes diverse demographics: retirees from North America and Europe seeking tropical lifestyle, digital nomads attracted to infrastructure and amenities, business professionals involved in tourism and development, and lifestyle investors maintaining vacation properties for personal and rental use.
This international community creates multiple property demand sources: direct purchases by expats establishing residence, rental demand from visiting expats exploring relocation, referral networks generating additional interest, and established support services facilitating property ownership and management.
English language prevalence throughout Manuel Antonio, international-standard services, and cultural amenities familiar to foreign residents reduce barriers for international property ownership and support sustained expat community growth.
It's something we develop in our Costa Rica property pack.
The vacationer community provides consistent rental demand, with many repeat visitors eventually becoming property owners themselves. This progression from visitor to owner creates sustained property demand and price support independent of purely speculative investment activity.
Community stability and established social networks help maintain property values by creating desirability beyond pure financial returns, supporting price resilience during market fluctuations and economic uncertainty.
Conclusion
This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.
Manuel Antonio represents Costa Rica's premier coastal real estate market, offering strong investment fundamentals supported by limited supply, consistent international demand, and established tourism infrastructure.
While property prices command a significant premium at $2,900 per square meter, the market provides solid rental yields, appreciation potential, and lifestyle benefits that justify the investment for qualified buyers seeking exposure to this proven destination.
Sources
- 2 Costa Rica Real Estate - Manuel Antonio Market Insights
- 2 Costa Rica Real Estate - Quepos Manuel Antonio Analysis
- The LatinVestor - Costa Rica Housing Market
- Investing Costa Rica - Manuel Antonio Guide
- 2 Costa Rica Real Estate - Rental Market 2025
- The LatinVestor - Best Places Buy Land Costa Rica
- 2 Costa Rica Real Estate - Living and Selling in Manuel Antonio
- OSA Property Management - Property Costs Costa Rica
- The LatinVestor - Costa Rica Best Property Investment
- OSA Property Management - Property Prices 2025