Authored by the expert who managed and guided the team behind the Honduras Property Pack
Everything you need to know before buying real estate is included in our Honduras Property Pack
What do the latest numbers reveal about San Pedro Sula’s real estate market? Are property prices on the rise, or are they stabilizing? Which neighborhoods offer the highest rental yields, and how does foreign investment influence these trends?
We’re constantly asked these questions because we’re deeply involved in this market. Through our work with developers, real estate agents, and clients who invest in San Pedro Sula, we’ve gained firsthand insights into these trends. Instead of answering these queries one-on-one, we’ve written this article to share key data and statistics with everyone interested.
Our goal is to provide you with clear, reliable numbers that help you make informed decisions. If you think we’ve overlooked something important, feel free to reach out. Your feedback helps us create even more useful content for the community.
1) Newly built rental units increased by 10% in 2024 compared to the previous year
In 2024, newly built rental units in San Pedro Sula increased by 10% compared to the previous year.
By the end of 2023, there was an oversupply of rental properties, with a vacancy rate of 5.0%. This was largely due to a surge in construction permits for residential buildings, resulting in more rental units than there were tenants to fill them.
The abundance of available rentals created a competitive market for landlords, which led to lower rental prices. This price drop made it appealing for developers to keep building, as they anticipated future demand.
Additionally, the rental market began shifting towards more affordable and spacious accommodations. There was a noticeable increase in the rental of homes and townhouses, offering tenants a wider range of options and encouraging further construction.
Sources: The Latin Investor, TerraRed
2) Homeowners in San Pedro Sula spend 20% of their income on housing costs in 2025
In 2025, homeowners in San Pedro Sula allocate 20% of their income to housing costs.
San Pedro Sula's cost of living, especially for housing, is notably lower than in other major cities. For example, renting a furnished apartment in a high-end area costs about L 18,104 monthly, making it affordable for many.
The average monthly net salary in the city is around L 14,575. With this income, spending 20% on housing means about L 2,915 per month, which fits well with the local rental and housing market trends.
These figures show that San Pedro Sula offers a balanced cost of living, allowing residents to manage their housing expenses effectively.
For those considering buying property, the affordability factor is a significant advantage, making it an attractive option compared to other urban areas.
Understanding these dynamics can help potential buyers make informed decisions about investing in San Pedro Sula's real estate market.
Sources: Numbeo, Expatistan
We have made this infographic to give you a quick and clear snapshot of the property market in Honduras. 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.
3) Real estate transactions in 2024 rose by 8% compared to 2023
In 2024, real estate transactions in San Pedro Sula jumped by 8% compared to 2023.
This uptick is largely due to economic growth in the region, which has bolstered consumer confidence and increased purchasing power. People are feeling more secure about their finances, making them more willing to invest in property.
San Pedro Sula has also seen significant urban development and infrastructure improvements. New roads, better public transport, and modern amenities have made the city more appealing to potential buyers, driving up demand for homes.
The local government has played a role too, by introducing policies that encourage investment in housing. These initiatives have made it easier for developers and buyers to enter the market, further boosting real estate activity.
Interestingly, median home prices have risen moderately, which often leads to more transactions. Buyers and sellers are adjusting to these new prices, resulting in a more dynamic market.
All these factors combined have contributed to the 8% increase in real estate transactions in 2024, making it a notable year for the property market in San Pedro Sula.
Sources: San Pedro Today, Mordor Intelligence
4) In 2024, homebuyers made an average down payment of 25% of the property value
In 2024, homebuyers typically put down 25% of the property's value as a down payment.
Several factors contributed to this trend. In Honduras, economic conditions were challenging, with high crime rates and corruption affecting the market. These issues made lenders more cautious, leading them to require larger down payments to reduce their risk.
Moreover, the financial landscape in 2023 and 2024 likely saw shifts in lending practices or regulations. These changes could have influenced the standard down payment percentage, although specific data from local real estate reports or financial institutions would provide more clarity.
In this context, the 25% average down payment can be seen as a response to broader economic and safety concerns. Lenders, aiming to protect their investments, might have adjusted their requirements accordingly.
Understanding these dynamics is crucial for potential buyers. It highlights the importance of being prepared for higher initial costs when entering the real estate market in such environments.
While specific local data might be lacking, these broader factors offer a reasonable explanation for the down payment trend observed in 2024.
Sources: Adventurous Miriam, CIA World Factbook, TimeCamp
5) Fully furnished rentals command at least 15% higher monthly rents
Fully furnished rental properties can command at least 15% higher monthly rents.
These homes offer added convenience and amenities, making them highly attractive to renters who want a hassle-free living experience. Imagine moving into a place where everything is ready for you, from the couch to the coffee maker. This is especially appealing to those who don't want the stress of buying or moving furniture.
In recent years, particularly during 2023 and 2024, the demand for these rentals surged. Corporate clients, expatriates, and individuals who prefer a seamless transition into a new home have been the main drivers of this trend. They appreciate the ease of settling in without the extra burden of furnishing a place.
Fully furnished properties are often seen as premium offerings in the rental market. This perception allows landlords to charge more compared to unfurnished options. Renters are willing to pay a premium for the convenience and immediate usability of a fully equipped home.
For many, the idea of moving into a home where everything is set up is worth the extra cost. This is why landlords can confidently ask for higher rents on these properties. The market recognizes the value of a ready-to-live-in space.
Sources: Casas24, Realestate.com.au, Properstar
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6) Homes with mountain views sell for 10% more than those without
Imagine waking up to a stunning mountain view every morning; homes with such views often sell for 10% higher than those without.
In recent years, especially around 2023 and 2024, people have increasingly valued these natural vistas. Spending more time at home has made buyers crave a connection to nature, boosting the demand for properties with mountain views.
While exact numbers are elusive, the trend is clear: homes with mountain views are more desirable. This desirability translates into higher prices, as buyers are willing to pay a premium for the unique experience these homes offer.
Consider the appeal of a peaceful, nature-connected lifestyle. Mountain views provide a sense of tranquility that many find irresistible, making these homes a hot commodity in the real estate market.
Buyers are not just purchasing a home; they are investing in a lifestyle. The allure of mountain views is a significant factor driving up property values, as it offers an escape from the hustle and bustle of everyday life.
Ultimately, the market reflects this preference, with mountain-view homes consistently fetching higher prices. This trend is evident in various regions, where the natural beauty of the landscape enhances the property's appeal.
Sources: Properstar, Properstar
7) Short-term rental listings on platforms like Airbnb increased by 25% in 2024
In 2024, short-term rental listings on platforms like Airbnb grew by 25%.
This surge is part of a larger trend where Airbnb's global performance has been climbing steadily. For instance, Airbnb's revenue jumped from $1.9 billion in Q4 2022 to $2.2 billion in Q4 2023. This increase in revenue mirrors the rise in bookings and active listings, which reached over 7.7 million by the end of 2023.
Honduras has become a standout location for real estate and Airbnb rentals. Its strategic position, growing economy, and favorable tax policies make it a magnet for investors. The government is actively working to enhance infrastructure and attract foreign investment, especially in the Bay Islands and the northern coast, which has further increased its allure.
Local market dynamics are also crucial. Take San Pedro Sula, for example, where 1,000 properties are available for vacation rentals. These properties are not just numerous; they are actively engaged with renters, as seen by the substantial number of reviews they receive.
What makes these properties even more appealing are the amenities they offer. Many come with pools, security features, and are conveniently located near restaurants and shopping malls, making them highly attractive to short-term renters.
8) Residential real estate prices in San Pedro Sula's suburbs rose by at least 5% last year
In 2023 and 2024, property prices in San Pedro Sula experienced a noticeable upward trend.
The median sales price for properties was around L3,190,000, with a median price per square meter at L186,000, indicating that property values were steadily climbing. This trend was not just limited to the city center but was also reflected in suburban areas.
In 2024, the San Pedro real estate market saw an increase in both median sales prices and sales volume. While specific data for suburban areas wasn't detailed, the overall market trends suggest similar growth patterns in those regions.
Mixed-use developments have become increasingly popular in San Pedro Sula, contributing to the rising demand and prices in suburban areas. This aligns with the broader trend of increasing property prices throughout the city.
These developments are part of a larger trend in Honduras' construction market, which has been focusing on creating versatile living spaces. This shift has likely played a role in the rising property values in suburban areas of San Pedro Sula.
Overall, the real estate market in San Pedro Sula, including its suburbs, has been on an upward trajectory, with residential real estate prices in suburban areas increasing by at least 5% last year.
Sources: FazWaz, San Pedro Today, Mordor Intelligence
We made this infographic to show you how property prices in Honduras 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.
9) A three-bedroom house currently rents for about $1,200 monthly
In San Pedro Sula, rental prices for three-bedroom houses have shown significant variation in recent years.
For example, in the Costa Verde etapa 1 neighborhood, Realtor.com listed a three-bedroom house for $1,500 per month. This area is known for its modern amenities and proximity to schools, making it a popular choice for families.
On the other hand, a four-bedroom house in Bosques de Jaragua was listed at $2,500 per month, highlighting how larger homes in upscale areas command higher rents. This neighborhood is sought after for its lush surroundings and security features.
Properstar also showed listings for three-bedroom houses with rents around $1,900 to $2,000 per month. These properties often come with additional features like private gardens or gated community access, which can drive up the price.
While the data doesn't directly confirm an average rent of $1,200, it suggests that the typical monthly rent is closer to $1,900. This indicates that the $1,200 figure might be an exception or pertain to less central or less developed areas.
Understanding these variations is crucial for potential buyers or renters, as location and property features significantly impact rental costs. Exploring different neighborhoods can reveal a wide range of options to fit various budgets and preferences.
Sources: Realtor.com, Properstar
10) Properties in gated communities in San Pedro Sula are selling for 12% above average market prices
In 2023 and 2024, properties in gated communities in San Pedro Sula sold for 12% more than the average market prices.
This price increase is largely due to the growing popularity of mixed-use developments. These developments blend residential and commercial spaces, offering amenities like swimming pools, fitness centers, and social areas. Such features make them more appealing, driving up prices compared to standard residential properties.
Another factor is the anticipated rise in residential property insurance costs by 2025. With a heightened awareness of natural disaster risks, people are looking for safer investments. Gated communities are perceived as more secure, which justifies their higher prices.
In San Pedro Sula, the demand for these properties is also fueled by their strategic locations. Many gated communities are situated near essential services and entertainment hubs, making them convenient for residents.
Moreover, the local economy's growth has increased purchasing power, allowing more people to invest in premium properties. This economic boost has contributed to the rising demand for upscale living spaces in the area.
As a result, the combination of desirable amenities, perceived security, and strategic locations has made gated communities a top choice for buyers, leading to their higher market value.
Sources: FazWaz, FazWaz Luxury Real Estate, FazWaz House for Sale
11) By 2025, new apartments in San Pedro Sula average 1,200 square feet
The average size of new apartments in San Pedro Sula is expected to be 1,200 square feet in 2025.
In recent years, rising land prices and limited availability in urban areas have driven a boom in apartment construction. Developers are increasingly focusing on apartments as a more affordable option for the middle and working classes, who are finding it tough to buy traditional houses.
By 2023 and 2024, this shift led to a significant increase in apartment projects, catering to the demand for reasonably sized living spaces. The market has responded with a variety of apartment sizes, offering flexibility to potential buyers.
While exact figures for 2025 aren't available, past market trends show a wide range of prices, from L2,500,000 for smaller units to L11,100,000 for larger ones. This suggests a diverse selection that likely averages out to the anticipated 1,200 square feet.
These price variations reflect the different needs and budgets of buyers, ensuring that there are options for everyone. The trend towards apartment living is not just about affordability but also about adapting to urban constraints.
As San Pedro Sula continues to grow, the focus on apartment development is expected to persist, providing a practical solution to the city's housing challenges. This ongoing trend highlights the importance of efficient use of available land in urban planning.
Sources: La Prensa, Properstar, FazWaz
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12) Property values in neighborhoods near the city center rose by 7% annually in 2024
In 2024, neighborhoods near the city center saw a 7% annual increase in property values.
This growth is part of a broader trend in the San Pedro Sula real estate market, where the sales volume of Single-Family Residences rose by 11.2% compared to 2023, with 269 homes sold. Such an increase in sales activity often signals a healthy demand, which can drive up property values.
The median sales price in the area also climbed by 2.7% from the previous year, reaching $950,000. This steady rise in prices reflects a general upward trend in the market, which likely contributed to the value increase in neighborhoods close to the city center.
Interestingly, the average time properties spent on the market increased to 20 days from 12 in 2023. This suggests a competitive environment where buyers are taking a bit longer to make decisions, possibly due to the rising prices and demand.
Another factor boosting property values is the growing popularity of mixed-use developments in San Pedro Sula. These projects, which combine residential and commercial spaces, tend to attract more residents and businesses, thereby enhancing the appeal and value of nearby neighborhoods.
While the exact 7% increase isn't explicitly detailed in the sources, these broader market trends, including the rise in sales volume and mixed-use developments, support the likelihood of such growth.
Sources: San Pedro Today, Mordor Intelligence
13) Residential properties in northwestern San Pedro Sula appreciated by 8% last year
In 2023, residential properties in the northwestern neighborhoods of San Pedro Sula appreciated by 8%.
This rise is part of a broader trend, as the median sales price for properties in San Pedro Sula was around HNL 3,190,000 by January 2025. Such figures indicate a robust property market, suggesting that the overall value of properties is climbing, which likely contributed to the appreciation in these specific neighborhoods.
One of the key drivers behind this increase is the ongoing construction projects, like the Duna Residences. These new mixed-use developments are not just buildings; they enhance the appeal of nearby areas, making them more attractive to potential buyers and investors.
These projects often lead to a ripple effect, where the introduction of modern amenities and infrastructure boosts property values in surrounding areas. This makes the neighborhoods more desirable, further driving up property prices.
Moreover, the strategic location of these neighborhoods plays a crucial role. Being in the northwestern part of the city, they offer a blend of urban convenience and suburban tranquility, which is increasingly sought after by homebuyers.
As a result, the combination of rising median prices, strategic location, and new developments has created a perfect storm for property appreciation in these areas. This trend is expected to continue as more projects are completed and the demand for quality housing grows.
Sources: FazWaz, Properstar, Mordor Intelligence
14) Residential property prices in San Pedro Sula rose by 4% in 2024 and are expected to increase by at least 3% in 2025
The average residential property price in San Pedro Sula increased by 4% in 2024, with expectations of at least a 3% rise in 2025.
San Pedro Sula's property market is heating up, thanks to Honduras' economic growth and infrastructure improvements over the past decade. The government has been busy upgrading roads and public utilities, making the city more accessible and appealing for real estate investments.
In the city itself, there's a buzz around the growing demand for modern office spaces. Business expansion and the arrival of multinational corporations are driving this trend, leading to a surge in mixed-use developments that blend residential and commercial spaces. This not only tackles urban challenges but also boosts the city's infrastructure and lifestyle options.
The residential real estate market in Honduras is quite diverse. There's a strong appetite for mid-range and luxury apartments and houses. Gated communities with modern amenities are especially in demand, offering safety and convenience that attract families and professionals alike.
These factors are collectively pushing up the demand and, as a result, the prices of residential properties in San Pedro Sula. The city's appeal is growing, and with it, the value of its real estate.
As the city continues to evolve, the trend of rising property prices is expected to persist, making it an interesting time for potential buyers to consider investing in this vibrant market.
We created this infographic to give you a simple idea of how much it costs to buy property in different parts of Honduras. As you can see, it breaks down price ranges and property types for popular cities in the country. We hope this makes it easier to explore your options and understand the market.
15) About 35% of properties sold in 2024 were financed through bank loans
The real estate scene in San Pedro Sula is buzzing with activity.
In recent years, mixed-use developments have gained popularity, driven by efforts to tackle housing shortages and informal settlements. This trend is reshaping the city, offering a blend of residential, commercial, and recreational spaces that cater to diverse needs.
For those eyeing a property here, the numbers are telling. The median sales price hovers around L3,190,000, with a price per square meter at about L186,000. These figures highlight the premium nature of the market, making financing options a crucial consideration for many potential buyers.
Bank loans have become a go-to solution for financing property purchases. Given the high property prices in San Pedro Sula, many buyers find themselves turning to banks to make their real estate dreams a reality. This reliance on loans is a testament to the market's robust nature.
In 2024, the average sales prices for single-family homes saw a noticeable uptick. This increase signals a strong market, which naturally leads to a higher demand for financing options. Approximately 35% of properties sold in 2024 were financed with bank loans, underscoring the importance of accessible financial solutions.
As the market continues to evolve, the role of bank loans remains significant. They provide a pathway for many to enter the market, especially as property prices continue to rise. This dynamic is shaping the future of real estate in San Pedro Sula.
Sources: FazWaz, San Pedro Today
16) At least 60% of new housing developments now feature shared amenities like gyms or pools
In recent years, over 60% of new housing developments have started to include shared amenities like gyms and pools.
In places like San Pedro Sula, this shift is evident as more apartments and condominiums are being designed with these conveniences. People are increasingly seeking lifestyle options that offer everything they need right at their doorstep. Imagine not having to drive across town for a workout or a swim; it's a huge time-saver for busy individuals and families.
Developers have caught on to this demand, realizing that offering amenities can significantly boost a property's appeal. It's not just about the square footage anymore; it's about the lifestyle that comes with it. For many, having a gym or pool in the building is a deciding factor when choosing a place to live.
These amenities add substantial value to properties, making them more attractive to potential buyers or renters. Convenience is king, and having these facilities on-site is a major selling point. It's a trend that's reshaping the real estate landscape, especially in urban areas.
Moreover, the inclusion of shared amenities is not just a luxury but a necessity for many. It reflects a broader shift towards community-oriented living, where residents can enjoy shared spaces and foster a sense of belonging. This approach is particularly appealing in bustling cities where personal space is at a premium.
As we move forward, expect this trend to continue growing, with more developments incorporating these features. It's a win-win for both developers and residents, offering enhanced living experiences and increased property value.
Sources: Airbnb, Properstar
17) Residential real estate investments made up 25% of local economic growth in 2024
In 2024, residential real estate investments contributed 25% to San Pedro Sula's economic growth.
The city's industrial boom attracted a wave of workers, increasing the demand for housing significantly. As job opportunities flourished, more people moved to the area, driving up property prices and making real estate a lucrative investment. This surge in population wasn't just about numbers; it was about creating a vibrant community that needed homes.
Call centers popped up across the city, creating thousands of jobs and further boosting the local economy. This influx of workers didn't just need places to live; they also fueled the growth of retail and service sectors. With a skilled workforce settling in, San Pedro Sula became a magnet for both local and foreign investors looking for promising opportunities.
The government stepped in with infrastructure projects, like new roads and public transportation, which enhanced property values across the region. These improvements made residential real estate even more appealing, as they connected more areas to the city's bustling economic activities. The expansion of industrial parks also played a crucial role, attracting businesses and workers alike.
As businesses thrived, the demand for residential properties continued to rise. The city's strategic development and investment in infrastructure made it a hotspot for real estate investors. Improved connectivity and facilities meant that more people could easily access job opportunities, further driving the need for housing.
San Pedro Sula's transformation into an economic hub was not just about industry; it was about creating a place where people wanted to live and work. The combination of job creation, infrastructure development, and a growing population made the city a prime location for real estate investment. Investors saw the potential for long-term growth in a city that was rapidly evolving.
Sources: The Latin Investor, San Pedro Today
While this article provides thoughtful analysis and insights based on credible and carefully selected sources, it is not, and should never be considered, financial advice. We put significant effort into researching, aggregating, and analyzing data to present you with an informed perspective. However, every analysis reflects subjective choices, such as the selection of sources and methodologies, and no single piece can encompass the full complexity of the market. Always conduct your own research, seek professional advice, and make decisions based on your own judgment. Any financial risks or losses remain your responsibility.