Costa Rica Real Estate Market Data & Price Trends: A 2015-2025 Historical Overview

Costa Rica's property market has experienced notable long-term shifts over the past decade, from modest growth pre-pandemic to strong price appreciation driven by tourism, foreign investment, and lifestyle migration, followed by a multi-year correction cycle. Analysts project steady, moderate gains moving into 2030 with annual growth rates around 5-10% in key regions as the market stabilizes after the 2022-2024 correction period. Read more on Crespo Agency.

• Boom-Bust Cycle: Prime coastal regions like Guanacaste saw peak price rises of up to 400% from 2020-2023 before correction. Source
• Balanced Future Growth: Post-correction data suggests healthier long-term fundamentals and ongoing demand from retirees, digital nomads, and long-term investors. Source

Costa Rica Residential Property Price History & Forecast to 2030

Historic market data shows distinct phases: steady pre-COVID growth, a rapid expansion fueled by pandemic-era lifestyle shifts, and corrections beginning in 2024. Despite recent downturns in luxury coastal segments, rental yields and urban condo markets show resilience. National average prices have reset closer to long-term norms while still offering upside potential for strategic buyers. Read more on LAT Investor.

• National Average Prices: Around $1,021 per square meter in 2025 with projected 5-8% annual growth in many regions. Source
• Urban vs Coastal Dynamics: San José urban apartments continue steady increases while luxury coastal homes saw larger corrections, improving entry-point opportunities. Source

Long-Term Costa Rica Real Estate Buy & Sell Trends & Market Signals

Long-term sales volume, pricing, and inventory data demonstrate shifting buyer preferences and market cycles. Even as median home prices corrected sharply in early 2025, sales volume increased, showing resilient demand. Inventory expansion and faster days-on-market indicate a more balanced and competitive market than in its overheated peak. Read more on Daveed Hollander.

• Sales vs Pricing: Median prices dropped over 40% in some segments; yet transaction volumes increased, suggesting buyers capitalizing on correction. Source
• Inventory Levels: Listings up significantly compared to prior years, contributing to buying options for long-term investors. Source

Long-Term Growth Drivers of Costa Rica Real Estate Market

Long-term data shows that foreign investment has been a persistent driver of price growth, especially in coastal and urban hub markets. Rising rental yields - often above 7% nationally and over 8% in San José - complement price appreciation and strengthen the investment case over longer periods. Read more on Benoit Properties.

• Foreign Buyer Demand: Influx of international buyers and retirees continues to support price resilience. Source
• Tourism Influence: Sustainable tourism growth elevates rental demand and regional appreciation potential. Source
• Infrastructure & Accessibility: Expansion of infrastructure supports property value growth in emerging regions. Source

Note: The information above are links to data and market reports sourced to assist buyers, renters and sellers of property, and understand a little better the Costa Rica property market place. IPD does not endorse any of the information. See our disclaimer for more details.