Authored by the expert who managed and guided the team behind the Costa Rica Property Pack
Yes, the analysis of Guanacaste's property market is included in our pack
This blog post gives you the real numbers on rental yields in Guanacaste, whether you're looking at condos near Tamarindo, villas in Papagayo, or houses in Liberia.
We break down gross yields, net yields, vacancy rates, and the costs that eat into your returns, all based on official Costa Rican sources.
We constantly update this blog post to keep the data fresh and relevant.
And if you're planning to buy a property in this place, you may want to download our pack covering the real estate market in Guanacaste.
Insights
- The average gross rental yield in Guanacaste in 2026 sits around 6.2%, but coastal trophy areas like Peninsula Papagayo often compress yields below 5% because prices run ahead of rents.
- Net yields in Guanacaste typically drop 1.5 to 2.5 percentage points below gross, with HOA fees in beach condos being the biggest cost that catches investors off guard.
- INEC reports about 19% of Guanacaste homes as unoccupied, but this includes vacation homes; actual rental vacancy runs closer to 6% to 9% for long-term rentals.
- Liberia, Santa Cruz, and Sardinal consistently deliver the highest yields because property prices are grounded while year-round tenant demand stays strong.
- Short-term rental investors in Guanacaste beach towns should plan for only 45% to 60% annual occupancy unless they have exceptional management.
- The Liberia airport expansion will bring 300,000 additional passengers per year, potentially lifting rents along the Liberia-to-coast corridor by 5% to 15%.
- Studios and one-bedroom units typically yield 1.5 to 3.5 percentage points more than large villas because they attract a wider tenant pool.
- Full-service property management runs 8% to 12% of rent for long-term rentals, but jumps to 20% to 35% for short-term vacation rentals.
- Coastal properties require a maintenance budget of 1% to 2.5% of property value annually due to salt air, humidity, and pool upkeep.
What are the rental yields in Guanacaste as of 2026?
What's the average gross rental yield in Guanacaste as of 2026?
As of early 2026, the average gross rental yield across all residential property types in Guanacaste is around 6.2%.
The realistic range spans from about 5.0% to 7.5%, depending on whether you're buying in an expensive beach town or a more locally priced inland area.
This puts Guanacaste slightly below Costa Rica's national average of around 7.5% (per Global Property Guide), mainly because the province has more premium coastal properties where prices are elevated.
The biggest factor influencing gross yields right now is coastal property pricing, where strong foreign and expat demand pushes prices up faster than rents can follow.
What's the average net rental yield in Guanacaste as of 2026?
As of early 2026, the average net rental yield in Guanacaste is around 4.6% across all property types.
Net yields typically run 1.5 to 2.5 percentage points lower than gross once you account for all recurring costs.
The expense that most reduces gross to net yield in Guanacaste is HOA and condo fees, which can be surprisingly high in beach developments and often exceed property taxes and insurance combined.
The realistic net yield range is about 3.5% to 6.0%, with the lower end typical for luxury coastal condos and the upper end achievable in simpler inland properties.
By the way, you will find much more detailed rent ranges in our property pack covering the real estate market in Guanacaste.
We made this infographic to show you how property prices in Costa Rica compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
What yield is considered "good" in Guanacaste in 2026?
In Guanacaste in 2026, a gross rental yield of 6.5% or higher is considered "good" by local investors, while anything above 7.5% is very attractive.
The threshold separating average properties from high performers is around 5% net yield, because below that you're taking on seasonality and coastal maintenance risks without adequate compensation.
How much do yields vary by neighborhood in Guanacaste as of 2026?
As of early 2026, the spread in gross yields between highest and lowest-yield neighborhoods in Guanacaste is typically 3 to 6 percentage points.
The highest-yield neighborhoods are inland service hubs like Liberia, Santa Cruz, and Sardinal, where property prices are affordable but rental demand from local workers stays consistent.
The lowest yields are in ultra-premium coastal areas like Peninsula Papagayo, Las Catalinas, and prime Playa Flamingo, where high prices compress returns even when rents are strong.
Yields vary so dramatically because coastal luxury pricing often outpaces what landlords can charge, while inland areas offer better price-to-rent ratios.
By the way, we've written a blog article detailing what are the current best areas to invest in property in Guanacaste.
How much do yields vary by property type in Guanacaste as of 2026?
As of early 2026, gross yields in Guanacaste range from about 4.5% for large villas to around 7.5% for studios and small apartments, a spread of roughly 1.5 to 3.5 percentage points.
Studios and one-bedroom condos deliver the highest yields because they have lower purchase prices, attract a wider tenant pool, and stay occupied more easily.
Large villas typically deliver the lowest gross yields because their high capital values and elevated maintenance costs outpace the premium rents they command.
The key reason is that tenants don't pay proportionally more for extra space, so price-per-bedroom inflation at the luxury end compresses returns.
By the way, you might want to read the following:
- What rental yields can you expect for a villa in Guanacaste?
- What rental yields can you expect for a condo in Guanacaste?
What's the typical vacancy rate in Guanacaste as of 2026?
As of early 2026, the vacancy rate for long-term residential rentals in Guanacaste is around 6% to 9%, varying significantly by location.
Across neighborhoods, vacancy ranges from 4% in high-demand areas like Liberia and Playas del Coco to over 12% in remote or seasonal beach locations.
The main factor driving vacancy is tourism seasonality, which creates strong demand during high season (December through April) but leaves many properties empty during slower months.
Guanacaste's situation is unique because INEC shows about 19% of homes as unoccupied, but this mostly reflects second homes and vacation properties rather than true rental vacancy.
Finally please note that you will have all the indicators you need in our property pack covering the real estate market in Guanacaste.
What's the rent-to-price ratio in Guanacaste as of 2026?
As of early 2026, the average rent-to-price ratio in Guanacaste is approximately 0.52% per month, translating to the 6.2% annual gross yield.
A ratio of 0.54% or higher (around 6.5% annually) is considered favorable for buy-to-let investors, as this directly determines your baseline return before expenses.
Compared to Costa Rica's capital region around San José, Guanacaste's ratio is slightly lower because premium coastal pricing tends to outpace rental rates.
We have made this infographic to give you a quick and clear snapshot of the property market in Costa Rica. It highlights key facts like rental prices, yields, and property costs both in city centers and outside, so you can easily compare opportunities. We’ve done some research and also included useful insights about the country’s economy, like GDP, population, and interest rates, to help you understand the bigger picture.
Which neighborhoods and micro-areas in Guanacaste give the best yields as of 2026?
Where are the highest-yield areas in Guanacaste as of 2026?
As of early 2026, the top three highest-yield areas in Guanacaste are Liberia, Santa Cruz, and Sardinal, all benefiting from year-round local demand rather than seasonal tourism.
In these neighborhoods, gross yields typically range from 6.5% to 8%, with Liberia and Santa Cruz often reaching the upper end due to affordable prices and stable tenant bases.
What these areas share is their role as service and employment hubs, meaning landlords enjoy consistent demand from workers, families, and people commuting to coastal resorts.
You'll find a much more detailed analysis of the areas with high profitability potential in our property pack covering the real estate market in Guanacaste.
Where are the lowest-yield areas in Guanacaste as of 2026?
As of early 2026, the lowest-yield neighborhoods in Guanacaste are Peninsula Papagayo, Las Catalinas, and prime Playa Flamingo, all commanding ultra-premium prices.
In these luxury areas, gross yields typically range from 4% to 5.5%, noticeably below the provincial average.
Yields are compressed because buyers pay a substantial lifestyle premium for location, amenities, and prestige, while rents cannot fully compensate for those elevated prices.
Buying a property in a low-yield area is one of the mistakes we cover in our list of risks and pitfalls people face when buying property in Guanacaste.
Which areas have the lowest vacancy in Guanacaste as of 2026?
As of early 2026, the Guanacaste neighborhoods with the lowest vacancy rates are Liberia, Playas del Coco, and Tamarindo, all with strong year-round activity.
In these areas, vacancy rates for long-term rentals typically run between 4% and 6%, well below the provincial average.
The main demand driver is the combination of local employment, expat residents, and tourism-related service jobs that create consistent year-round demand.
The trade-off is that property prices in the most desirable pockets have been rising, which can compress yields even as vacancy stays low.
Which areas have the most renter demand in Guanacaste right now?
The top three neighborhoods with the strongest renter demand are Tamarindo, Playas del Coco, and Liberia, each attracting different but overlapping tenant profiles.
In Tamarindo and Playas del Coco, demand comes from expats, digital nomads, hospitality workers, and longer-stay visitors, while Liberia attracts local professionals and families.
In these high-demand neighborhoods, well-priced listings typically get filled within one to three weeks, with desirable properties receiving multiple inquiries within days.
If you want to optimize your cashflow, you can read our complete guide on how to buy and rent out in Guanacaste.
Which upcoming projects could boost rents and rental yields in Guanacaste as of 2026?
As of early 2026, the top three projects expected to boost rents are the Liberia airport expansion, Route 21 highway improvements, and Papagayo Park at Peninsula Papagayo.
The neighborhoods most likely to benefit are Liberia, Sardinal, and the Liberia-to-Carrillo corridor for infrastructure, plus Papagayo, Nacascolo, and the Las Catalinas/Potrero micro-market for La Rambla development.
Investors in well-positioned neighborhoods might realistically expect rent increases of 5% to 15% over the following two to three years after completion.
You'll find our latest property market analysis about Guanacaste here.
Get fresh and reliable information about the market in Guanacaste
Don't base significant investment decisions on outdated data. Get updated and accurate information with our guide.
What property type should I buy for renting in Guanacaste as of 2026?
Between studios and larger units in Guanacaste, which performs best in 2026?
As of early 2026, studios and one-bedroom units in Guanacaste generally outperform larger units in both yield and occupancy because they're easier to fill and have lower entry costs.
Studios typically achieve gross yields of 6.5% to 7.5% (around $12,000 to $18,000 USD or €11,000 to €17,000 EUR per year for a $200,000 property), while larger three-bedroom units often yield closer to 5% to 6%.
The main factor is that smaller units attract a wider range of tenants, and their lower price points mean the rent-to-price ratio stays favorable.
However, larger units can be better if you're targeting families or groups looking for vacation rentals in beach towns like Tamarindo or Nosara where multi-bedroom homes command premium nightly rates.
What property types are in most demand in Guanacaste as of 2026?
As of early 2026, the most in-demand property type in Guanacaste is the two-bedroom condo or home, offering flexibility for couples, small families, and roommates.
The top three by tenant demand are two-bedroom condos, one-bedroom apartments, and secure homes in gated communities near beach towns or resort corridors.
This pattern is driven by the steady influx of expats, remote workers, and lifestyle renters who want comfortable, secure housing without the upkeep burden of a large villa.
One property type underperforming in demand is the large standalone villa without resort amenities or strong short-term rental management, as these struggle to stay occupied during low season.
What unit size has the best yield per m² in Guanacaste as of 2026?
As of early 2026, compact units between 35 and 70 square meters deliver the best gross rental yield per m² in Guanacaste.
For this optimal size, investors can expect roughly $150 to $200 USD per m² per year (around €140 to €185 EUR or 75,000 to 100,000 colones), compared to $80 to $120 USD per m² for larger properties.
Smaller studios sometimes lose efficiency due to higher HOA costs relative to rent, while larger units lose efficiency because tenants don't pay proportionally more for extra space.
By the way, we also have a blog article detailing whether owning an Airbnb rental is profitable in Guanacaste.
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 costs cut my net yield in Guanacaste as of 2026?
What are typical property taxes and recurring local fees in Guanacaste as of 2026?
As of early 2026, annual municipal property tax in Guanacaste is around 0.25% of assessed value, roughly $500 to $1,500 USD per year (€460 to €1,380 EUR or 260,000 to 780,000 colones) for a $200,000 to $600,000 property.
Other recurring fees include HOA or condo fees (often the biggest line item at $1,200 to $6,000 USD per year for beach condos), plus the luxury home tax (Impuesto Solidario) if your property exceeds the exempt threshold.
Together, property taxes, HOA fees, and any luxury tax typically represent 2% to 5% of gross rental income, with higher end affecting luxury coastal condos.
By the way, we cover all the hidden fees and taxes in our property pack covering the real estate market in Guanacaste.
What insurance, maintenance, and annual repair costs should landlords budget in Guanacaste right now?
Annual landlord insurance in Guanacaste costs around 0.3% to 0.8% of replacement value, roughly $600 to $2,400 USD per year (€550 to €2,200 EUR or 310,000 to 1,250,000 colones) for a mid-range coastal property.
For maintenance and repairs, budget 1% to 2.5% of property value annually, with coastal properties requiring the higher end due to salt air, humidity, pool upkeep, and AC maintenance.
The expense that most commonly catches landlords off guard is exterior finishes and metal fixtures, which degrade fast in the coastal climate and often need attention every two to three years.
Combined, landlords should budget $3,000 to $10,000 USD per year (€2,750 to €9,200 EUR or 1,560,000 to 5,200,000 colones) depending on property type and proximity to the ocean.
Which utilities do landlords typically pay, and what do they cost in Guanacaste right now?
In Guanacaste, long-term rental landlords typically let tenants pay electricity while often covering water and internet for smaller units, whereas short-term rental landlords usually pay all utilities.
For landlord-paid utilities, expect monthly costs of $80 to $250 USD (€75 to €230 EUR or 42,000 to 130,000 colones), with AC usage being the biggest variable; ARESEP has announced a 2026 tariff reduction that may help slightly.
What does full-service property management cost, including leasing, in Guanacaste as of 2026?
As of early 2026, full-service management for long-term rentals in Guanacaste costs 8% to 12% of collected rent, roughly $80 to $180 USD per month (€75 to €165 EUR or 42,000 to 94,000 colones) for a $1,000 to $1,500 monthly rental.
The typical leasing fee is half to one month's rent, around $500 to $1,500 USD (€460 to €1,380 EUR), while short-term vacation rental management runs 20% to 35% of revenue plus per-stay cleaning fees.
What's a realistic vacancy buffer in Guanacaste as of 2026?
As of early 2026, Guanacaste landlords should set aside 8% to 12% of annual rental income as a vacancy buffer for long-term rentals, and 40% to 50% for short-term vacation rentals.
For long-term rentals, this means roughly 4 to 6 vacant weeks per year, while short-term owners should plan for 20 to 26 weeks without bookings unless they have exceptional management.
Buying real estate in Guanacaste can be risky
An increasing number of foreign investors are showing interest. However, 90% of them will make mistakes. Avoid the pitfalls with our comprehensive guide.
What sources have we used to write this blog article?
Whether it's in our blog articles or the market analyses included in our property pack about Guanacaste, we always rely on the strongest methodology we can, and we don't throw out numbers at random.
We also aim to be fully transparent, so below we've listed the authoritative sources we used.
| Source | Why it's authoritative | How we used it |
|---|---|---|
| INEC - ENAHO Survey | INEC is Costa Rica's official statistics agency, making its household data the baseline reference. | We used ENAHO to ground the "who rents" picture so yields make sense in the real economy. We used it as a reality-check against listing-based rent data. |
| INEC - Guanacaste Housing 2022 | It's an official INEC product with province-level housing occupancy statistics. | We used it to quantify homes recorded as unoccupied in Guanacaste. We used that as ceiling context for vacancy risk. |
| INEC - Population Estimation 2022 | This is INEC's official portal for 2022 population and housing outputs. | We used it to confirm scope and definitions. We used it to keep terminology consistent throughout our analysis. |
| BCCR - Economic Indicators | BCCR is Costa Rica's central bank and authoritative source for macroeconomic data. | We used it to anchor 2026 assumptions about rates and inflation. We used it to avoid relying on anecdotes about the economy. |
| BCCR - CPI Table | It's an official BCCR data table with INEC CPI as the underlying producer. | We used it to frame rent growth and inflation around 2025-2026. We used it to keep yields in purchasing power terms. |
| Hacienda - Impuesto Solidario 2026 | This is a Ministry of Finance publication about luxury property tax obligations. | We used it to confirm timing of the luxury-home tax in 2026. We used it to build the net yield cost checklist. |
| Hacienda - Ley 7509 | It's an official Hacienda legal reference for property value and tax foundations. | We used it to anchor property-tax discussion in the actual legal basis. We used it to avoid guesswork on recurring taxes. |
| Property Tax Law Text | It's a primary legal text for how property tax is administered by municipalities. | We used it to confirm administration responsibility. We used it to explain why identical homes can face different assessed values. |
| ARESEP - Electricity Tariffs | ARESEP is the national regulator that sets all regulated utility tariffs. | We used it to estimate landlord-paid utility costs. We used it to keep utility budgets realistic for Guanacaste. |
| ARESEP - 2026 Tariff Reduction | It's the regulator's announcement about 2026 tariff changes. | We used it to avoid assuming utility costs stay flat. We used it to explain why all-inclusive rent margins can shift. |
| ICT - Statistics Hub | ICT is the national tourism authority; its stats are the backbone for tourism-driven demand. | We used it to tie rental demand to arrivals and seasonality. We used it to justify why some submarkets behave like tourism economies. |
| ICT - Arrivals Reports | It's ICT's official publication page for tourism arrival reporting. | We used it to support demand narrative for peak seasons. We used it to keep the story consistent with official reporting. |
| ICT - Liberia Airport Expansion | It's ICT's official communication about key demand infrastructure. | We used it to identify a demand driver that can raise rents. We used it to name neighborhoods exposed to that upside. |
| Global Property Guide - Costa Rica | GPG is a long-running international property research publisher with stated methods. | We used it for a national anchor gross yield estimate. We used it as a benchmark then adjusted to Guanacaste realities. |
| Global Property Guide - Rent Trends | It provides a consistent historical rent index framework. | We used it to keep the rent side from being purely anecdotal. We used it as a cross-check versus local listings. |
| AirDNA | AirDNA is a widely used STR data provider covering Airbnb/Vrbo supply, occupancy, and ADR. | We used it to frame STR-style vacancy in beach markets. We used it to triangulate vacancy buffers and management costs. |
| Peninsula Papagayo | It's the destination developer publishing its own project timeline. | We used it to name a project catalyst that can lift rents. We used it as an example of amenity-driven rent resilience. |
| Las Catalinas - La Rambla | It's the developer's official project page with schedule and positioning. | We used it to identify where new supply can change rents. We used it to show how walkable pockets behave differently. |
| Semanario Universidad - Route 21 | It's a reputable national outlet citing government statements about infrastructure. | We used it to connect transport upgrades to rent growth. We used it to justify why inland neighborhoods can outperform. |
| Grupo INS | INS is Costa Rica's dominant insurer and primary reference for local insurance. | We used it to ground insurance availability and pricing. We used it to keep assumptions within the Costa Rica market reality. |
Get the full checklist for your due diligence in Guanacaste
Don't repeat the same mistakes others have made before you. Make sure everything is in order before signing your sales contract.
Related blog posts
- Is now a good time to invest in property in Guanacaste (Costa Rica)?