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Costa Rica's housing market in September 2025 shows strong regional variations with the Southern Zone leading price growth at 42% year-over-year while coastal luxury properties remain abundant but down from peak levels.
The market has stabilized after major corrections in 2024, with urban apartments in San José rising 12% annually while beach towns like Tamarindo and Manuel Antonio maintain strong rental yields of 8-12% for short-term properties. Entry-level opportunities exist in the $100,000-$250,000 range in secondary markets, particularly in undervalued regions like Limón on the Caribbean coast.
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.
Costa Rica's property market in September 2025 offers diverse opportunities with the Southern Zone experiencing the fastest growth at 42% year-over-year, while coastal luxury markets have corrected significantly from 2022 peaks.
Short-term rental properties in tourist zones generate 8-12% gross yields, and entry-level properties remain available in the $100,000-$250,000 range in emerging areas.
| Region | Average Price Range | Annual Change |
|---|---|---|
| San José Central Valley | $2,343/m² apartments, $533,647 median houses | +12% apartments, -43% houses |
| Guanacaste Pacific Coast | $1.7M luxury homes, $967,506 median | -31% luxury, -36% median |
| Southern Zone | $893,000 average homes | +42% |
| Tamarindo | $1,400-$1,800/m² condos, $550,000 median homes | +10-12% |
| Caribbean Coast (Limón) | Entry-level $100,000-$200,000 | Stable/minimal change |
| Jaco | $118,716/sq ft apartments, $102,389/sq ft houses | Moderate growth |
| Nosara | $500,000-$1,000,000+ homes | Strong demand |
What are the current average property prices in Costa Rica by region and type?
As of September 2025, Costa Rica's property market shows significant regional price variations across different property types.
San José and the Central Valley lead urban pricing with apartments averaging $2,343 per square meter, representing a 12% year-over-year increase. Houses in this region have a median price of $533,647, down from $907,769 in 2024 due to market corrections.
Guanacaste's Pacific Coast remains the luxury market hub with high-end homes averaging $1.7 million, though this represents a 31% decrease from peak levels. Median homes in Guanacaste average $967,506, down 36% year-over-year as the market adjusts from previous highs.
The Southern Zone, including areas like Uvita and Ojochal, shows the strongest price momentum with homes averaging $893,000, up 42% year-over-year. Popular beach towns maintain premium pricing, with Tamarindo condos ranging $1,400-$1,800 per square meter and median homes around $550,000.
Entry-level opportunities exist in the Caribbean Coast region around Limón, where properties can be found in the $100,000-$200,000 range in secondary markets.
How have property prices changed over the past 3 months, 12 months, and 5 years?
Costa Rica's property market has experienced dramatic fluctuations across different timeframes, with recent stabilization following significant corrections.
Over the past 3 months, most regions have shown stabilization after major corrections in 2024, with notable rebounds in Q2 2025. The Central Valley and tourist coastal towns have led this recovery trend.
The 12-month period reveals a large market correction, with national median home prices dropping 41% during 2024. Coastal and luxury segments were hit hardest, while urban apartments in San José bucked the trend with 12% growth. This correction primarily affected overvalued beachfront properties that had appreciated too rapidly.
Looking at the 5-year trajectory, some Guanacaste areas experienced up to 400% price appreciation, especially beachfront properties. The Central Valley maintained more moderate but consistent growth of 4-6% annually during this period.
It's something we develop in our Costa Rica property pack.
What's the average time properties take to sell in major areas?
Property selling times in Costa Rica vary significantly based on location, price point, and market positioning as of September 2025.
Luxury beachfront and coastal properties that are well-priced typically sell within 60-90 days when positioned correctly. However, the overall average time on market for premium properties is approximately 395-406 days, which represents a 33% improvement from the previous year.
Urban and mid-range properties in less competitive segments tend to linger longer on the market, particularly when overpriced or in areas with excess supply. Rural properties and those in secondary markets can take significantly longer to sell due to limited buyer pools.
Properties in established tourist areas like Tamarindo, Manuel Antonio, and Santa Teresa generally move faster than inland or less developed regions. Market timing also plays a crucial role, with dry season (December-April) seeing the fastest transaction times.
Which regions are experiencing the fastest price growth right now?
The Southern Zone leads Costa Rica's price growth as of September 2025, with home prices up 42% year-over-year in areas like Uvita and Ojochal.
This growth is driven by infrastructure expansion and increasing eco-tourism development. The region benefits from improved road access and growing international recognition as a sustainable tourism destination.
The Central Valley, particularly San José, Escazú, and Santa Ana, shows strong apartment price growth at 12% year-over-year. This urban growth reflects continued demand from local professionals and international remote workers seeking modern amenities and infrastructure.
Mid-range markets in Guanacaste, especially around Tamarindo, maintain solid appreciation of 10-12% annually. This growth is sustained by consistent tourism demand and expat relocation trends.
Emerging areas like certain parts of the Nicoya Peninsula and select Caribbean coast locations are beginning to show early growth signals, though from lower base prices.
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What are the current rental yields for short-term and long-term rentals?
Costa Rica's rental market offers attractive yields across different property types and rental strategies as of September 2025.
Short-term rentals in prime beach towns and tourist areas generate gross rental yields ranging from 8-12%, with the highest returns concentrated in vacation zones like Tamarindo, Santa Teresa, and Manuel Antonio. These properties benefit from strong tourism demand and premium nightly rates.
Long-term rentals in urban areas like San José, Escazú, and Santa Ana average yields of 7-8.5%. These markets provide more stable income streams with lower management requirements compared to short-term rentals.
The national average rental yield stands at 7.84%, which remains competitive compared to other Central American markets. Properties in well-managed developments with tourist access and local amenities typically achieve the higher end of these yield ranges.
Occupancy rates vary significantly by season, with peak tourist areas achieving 75-100% occupancy during dry season (December-April) but dropping to 25-50% during off-season months.
Which areas have the highest rental occupancy rates currently?
Tourist-focused regions in Costa Rica maintain the highest rental occupancy rates, particularly during peak seasons.
Tamarindo, Santa Teresa, and Manuel Antonio typically achieve 75-100% occupancy during peak season from December through April. These established destinations benefit from consistent international tourism and strong brand recognition.
Off-season occupancy drops to 25-50% in these same areas, creating significant seasonal income variations. Properties with unique features or exceptional management can maintain higher off-season rates.
Urban rental markets in San José and surrounding areas like Escazú maintain more consistent year-round occupancy of 85-95% for long-term rentals. These markets serve local professionals, international workers, and expat residents.
Emerging destinations like Nosara, Samara, and select Caribbean coast locations are building occupancy momentum but remain more volatile than established markets.
How do current property listings compare to last year?
Costa Rica's property inventory has increased significantly compared to 2024, creating favorable conditions for buyers.
Active inventory in early 2025 was up 20.5% over 2024 levels, with overall inventory increases of 15-24% across most regions. This creates a buyer's market with increased negotiation opportunities, especially in non-coastal markets.
Luxury coastal properties are in abundant supply, though well-positioned properties still sell relatively quickly. The oversupply is most evident in overpriced listings and properties lacking unique features or prime locations.
Mid-range and rural property supply is also elevated, particularly in inland areas. Properties that linger on the market are typically overpriced or located in areas with limited buyer interest.
New construction and development projects have contributed to increased supply, though many developers have slowed new launches in response to current market conditions.
What's the current property supply by price range and type in key areas?
Costa Rica's property supply varies significantly across price ranges and property types as of September 2025.
| Price Range | Property Type | Supply Level |
|---|---|---|
| $100,000-$250,000 | Entry-level condos/homes | High demand, limited supply |
| $250,000-$500,000 | Mid-range properties | Balanced supply |
| $500,000-$1,000,000 | Upper-mid properties | Abundant supply |
| $1,000,000+ | Luxury coastal properties | Oversupply |
| Various | Short-term rental ready | High demand |
| Various | Eco-friendly/sustainable | Growing demand |
| $200,000-$400,000 | Renovation opportunities | Good supply |
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.
Are there notable seasonal trends affecting the market in the coming months?
Costa Rica's real estate market follows predictable seasonal patterns that significantly impact pricing and transaction activity.
The dry season from December through April represents peak selling, buying, and rental season. This period sees the fastest price growth and shortest listing times as tourism peaks and weather conditions are optimal for property viewing and transactions.
The rainy season from May through November typically brings slight price dips and longer time-on-market periods. This season presents opportune timing for bargain hunting, as sellers may be more motivated to negotiate.
September through November historically offers the best buying opportunities as inventory peaks before the holiday season. Properties that haven't sold during the peak season often become more negotiable during these months.
Holiday periods around Christmas and New Year generate increased international interest, though transaction completion may be delayed due to vacation schedules and bank closures.
It's something we develop in our Costa Rica property pack.
Which locations are considered undervalued with high growth potential?
Several Costa Rican regions offer significant upside potential for investors willing to position ahead of mainstream development.
The Caribbean coast, particularly around Limón and Puerto Viejo, remains notably undervalued with minimal recent price appreciation. Growing eco-tourism infrastructure and improved road access suggest strong long-term growth potential.
Early-stage coastal developments in areas like Playa Hermosa, Samara, and select Nicoya Peninsula towns offer opportunities in less-saturated tourism markets. These areas benefit from new infrastructure development without the premium pricing of established destinations.
Monteverde and surrounding mountain communities are gaining recognition for sustainable tourism and eco-friendly living, creating emerging value opportunities for environmentally conscious buyers.
Secondary markets near established tourist areas, such as inland properties within 30 minutes of major beaches, offer potential appreciation as land becomes scarcer in prime locations.
Pre-construction opportunities in areas like Jacó and Herradura provide potential value creation through development completion and market maturation.
What property types and price brackets are in highest demand?
Current market demand in Costa Rica focuses on specific property types and price ranges that align with buyer preferences and investment strategies.
Short-term rental-ready condos and villas in established tourist towns like Tamarindo, Jacó, Manuel Antonio, and Santa Teresa remain in highest demand. These properties offer immediate income potential and strong appreciation prospects.
Affordable homes and condos in the $100,000-$250,000 range near infrastructure or lifestyle hubs attract both investors and end-users seeking entry-level opportunities. This price bracket offers the best supply-demand balance.
Eco-lodges and sustainable homes in wellness and surf communities like Santa Teresa and Nosara appeal to environmentally conscious buyers and the growing wellness tourism market.
Properties suitable for remote work with reliable internet, modern amenities, and proximity to international airports serve the expanding digital nomad and remote worker demographic.
Turnkey properties requiring minimal renovation work are preferred by international buyers seeking hassle-free ownership and management.
Where and what should you buy for optimal positioning?
Strategic property selection in Costa Rica depends on your primary objectives: living, rental income, or resale value.
For living purposes, Guanacaste and Central Valley areas like Escazú and Santa Ana offer the best infrastructure and established expat communities. These regions provide modern amenities, healthcare access, and international school options.
For rental income, focus on Tamarindo, Santa Teresa, and Manuel Antonio for high-occupancy short-term rentals generating 8-12% returns. San José apartments provide steady long-term rental income with lower management requirements.
For value appreciation and resale potential, consider Limón for early-stage growth, pre-construction opportunities in Jacó and Herradura, or renovation projects in established tourist towns. These strategies require higher risk tolerance but offer greater upside potential.
Eco-focused buyers should target off-grid or green-certified homes in Nosara, Monteverde, or emerging beach communities that align with Costa Rica's sustainability tourism trends.
It's something we develop in our Costa Rica property pack.
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.
Costa Rica's housing market in September 2025 presents diverse opportunities across different regions and price points, with the Southern Zone leading growth trends and coastal markets offering strong rental potential.
Strategic buyers can capitalize on current market conditions by focusing on tourist-ready properties in established destinations or positioning for future growth in undervalued regions like the Caribbean coast.
Sources
- Properstar Costa Rica House Prices
- The LatinVestor Costa Rica Real Estate Forecast
- The LatinVestor Costa Rica Market Trends
- Urban Realty Toronto Costa Rica Investment Trends
- Global Property Guide Costa Rica Price Trends
- Tico Times Guanacaste Property Surge
- OSA Tropical Properties Market Report
- The LatinVestor Costa Rica Real Estate Market
- Dominical Realty Market Report April 2025
- Coldwell Banker Costa Rica Market Trends 2025