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turnando

price per square meter, raw land, near beach

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Hey folks,

I'm wanting to buy and I'm having a hard time getting a feel for the "real" price of raw land in CR. I'm thinking about lots of about 5,000 to 10,000 m2. Near the beach (just behind the ZMT). Off grid, so no electricity and water is from a well. South Puntarenas area.

 

The asking prices are all over the place. Are there any recent buyers out there who would care to say how much they paid per square meter? Even if it doesn't fit this description I'd be interested in hearing some numbers. Would a real estate attorney who is familiar with the area be a good person to ask? Or are they keeping that to themselves?

 

Where do I get help for this sort of thing? I'm joining ARCR as soon as I can find my passport and get the # out of it because I want to get an attorney referral.... would ARCR help with this sort of thing?

 

Thanks!

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Hi,

 

Yes it is sometimes difficult to compare apples to oranges. Prices will vary (and be "all over the map") just as they are along the shores of European or American countries. You must define your preferred location and then scout it out with a broker or on your own. Eg. half an acre of oceanfront along the Oregon coast is going to cost a lot less than half an acre of oceanfront near San Francisco.

 

- location -- you want "just behind the Zona maritima" line, and these are titled "oceanfront" properties in puntarenas (southern puntarenas does not have titled true ocean-front properties, as there are in Jaco or Papagayo). So you want, essentially, primo real estate.

 

- location -- you don't want anything near amenities such as electricity or a public water system. So you are looking for properties off the beaten path and without the amenities that add value.

 

-- size -- you are looking for a relatively small piece by southern Puntarenas standards -- 5,000 to 10,000 m2 is half to a full hectare, obviously though you can purchase a lot down to 500m2, which is the minimum "titled" size -- however these likely need to be carved out of a larger piece.

 

I know of oceanfront properties as you describe that sell for $20m2 to $200m2.

 

Good luck and do your research, and spend some time in the country before you buy.

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Hi,

 

Yes it is sometimes difficult to compare apples to oranges. Prices will vary (and be "all over the map") just as they are along the shores of European or American countries. You must define your preferred location and then scout it out with a broker or on your own. Eg. half an acre of oceanfront along the Oregon coast is going to cost a lot less than half an acre of oceanfront near San Francisco.

 

- location -- you want "just behind the Zona maritima" line, and these are titled "oceanfront" properties in puntarenas (southern puntarenas does not have titled true ocean-front properties, as there are in Jaco or Papagayo). So you want, essentially, primo real estate.

 

- location -- you don't want anything near amenities such as electricity or a public water system. So you are looking for properties off the beaten path and without the amenities that add value.

 

-- size -- you are looking for a relatively small piece by southern Puntarenas standards -- 5,000 to 10,000 m2 is half to a full hectare, obviously though you can purchase a lot down to 500m2, which is the minimum "titled" size -- however these likely need to be carved out of a larger piece.

 

I know of oceanfront properties as you describe that sell for $20m2 to $200m2.

 

Good luck and do your research, and spend some time in the country before you buy.

 

I've been shopping for about a year.... I'm seeing empty lots from about $25/m2 for less desirable lots to over $100/m2 for ones that could star in a travel magazine. I was thinking that $25/m2 for the low end was ridiculous but perhaps not. I suppose that gringo demand for CR real estate will remain high. The other choices in Latin America are pretty grim unless you go all the way to South America, as far as I'm concerned. As far as I can tell the only other logical choice in the region, if you seriously consider corruption and violence, is Panama.

 

I fully agree with spending time in CR before buying. That "House Hunters International" TV show is just ridiculous. There was a marathon of those shows a few weeks back and they showed 4 or 5 CR episodes in a row. Here is one of them: Texan dude with a wife with makeup and long fingernails. Had been on some sport fishing trips to CR and then flew down and spent 3 days to find a Texan sized house that had plenty of space to entertain. $700k budget. They didn't attempt to speak a lick of Spanish. I guess these people really exist, but that ain't me.

 

I've lost count of how many times I've been to CR. I'm ready to buy for sure.

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In late November we looked at properties in the Arenal, Central Valley, the interior, and the Pacific Coast areas. We ended up purchasing 3 acres (12060 square meters) about ten kilometers out of Santiago de Puriscal. We paid $77,000USD or $6.38 per square meter. This was neither the top or bottom price of property that we looked at. We concluded the deal in mid-January and at that time noticed that the asking price for property in the community we bought in had been raised 26%!

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Basically the price per square meter is what someone will ask for it and how much someone will pay for it. There does not appear to be any set price for anything here particualary property. All over the board

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David is right. While there is Proxio Pro being used (just recently)as a widely used (though voluntary) MLS system, it's a start. There is also property shelf and TierraMax. I recently switched over to Proxio Pro as it was decided by our CRGAR organization (Costa Rica Global Association of Realtors). I am looking forward to a better way of figuring out values. The last 5 years of being in the real estate biz is tough especially the extra work one has to do lacking a true, universal MLS system, but I can tell you all the professinal organizations are pushing for one. In the end buyers and sellers will benefit, but no telling how long this will take. Until then finding out values is best done by asking area real estate agents and neighbors who have bought/sold in the particular area. Good luck.

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David is right. While there is Proxio Pro being used (just recently)as a widely used (though voluntary) MLS system, it's a start. There is also property shelf and TierraMax. I recently switched over to Proxio Pro as it was decided by our CRGAR organization (Costa Rica Global Association of Realtors). I am looking forward to a better way of figuring out values. The last 5 years of being in the real estate biz is tough especially the extra work one has to do lacking a true, universal MLS system, but I can tell you all the professinal organizations are pushing for one. In the end buyers and sellers will benefit, but no telling how long this will take. Until then finding out values is best done by asking area real estate agents and neighbors who have bought/sold in the particular area. Good luck.

I wish you luck in your search for property. But in my opinion do not ask a realtor, the price will be 50% higher, go to the area you like and talk to the locals you will do a hole lot better in the price. Ron USCG Ret

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Thanks for all the advice. I went ahead and made an offer and after a few counter offers we settled on a price. Kind of high, but I'm happy with it. After closing I'll post back with a price/m2 to help people who need to ballpark the cost of living near the beach.

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Turnando, good luck on your venture. Ron: Perhaps if you deal with unethical Realtors they will tell you 50% higher. Please note that there are honest, ethical people out there. I consider myself one of the few. Not all the agents out there are bad. All you need to do nowadays is Google the name of an agent and find out all about them, their background and credentials. Not all of us are surfers at the beach who came out here to make a buck. Just saying....

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Turnando, good luck on your venture. Ron: Perhaps if you deal with unethical Realtors they will tell you 50% higher. Please note that there are honest, ethical people out there. I consider myself one of the few. Not all the agents out there are bad. All you need to do nowadays is Google the name of an agent and find out all about them, their background and credentials. Not all of us are surfers at the beach who came out here to make a buck. Just saying....

 

Contact Tom Haydu, owner of Casita Realty in Flamingo. He is not 50% higher. He is one of the true, honest realtors in CR

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It's done. As promised, here is a reference for how much it might cost someone to get raw land near the beach (just behind the ZMT) in the south Puntarenas region for lots up to about 1 Ha: $26/m2.

 

Yes, prices are all over the place and this single data point doesn't mean much but here it is.

 

Thanks to the folks on this forum who gave me advice along the way. Now I just have to figure out how to escape from the rat race so I can go build something on my lot and hang out there.

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