How to understand the real estate market in central america in 10 seconds
The 2009 Annual Central America International Real Estate PriceRank
Here’s the short story for 2009 for international real estate developments with condos and houses for sale:
- As the most mature market in the region, Costa Rica tops the ranking with the Four Seasons, Papagayo Peninsula. The project is located in northern Guanacaste close to Costa Rica’s second international airport at Liberia, a region peppered with luxury brands and top end resorts. The least expensive community is Belize Reserve an ‘eco-community’ located in Cayo, the forested hilly district in western Belize.
- Costa Rica holds 6 of the top 10 spots in the PriceRank. Panama has 2 real estate developments in the top 10 and Belize has 1. Nicaragua, the most ‘emerging’ of the markets has none.
- The most expensive real estate development in Belize is the Placencia Residence, located at the northern end of the Placencia Peninsula. In Panama, the Trump Ocean Club, perhaps its most well-known development, leads the field. Portofino Condos overlooking the bay of San Juan del Sur is Nicaragua’s highest entry (but ranked 44th overall) and, yes, the Four Seasons at Papagayo tops the list in Costa Rica.
- Turning to the least expensive; it’s Belize Reserve in Belize, the Condos Montemar (also in San Juan del Sur) for Nicaragua, Rancho Las Lomas in Costa Rica, and for Panama, Montanas de Caldera has the lowest median price.
- Master-planned communities on or near the ocean percolate to the top of the list whereas developments in lake/river/lagoon areas make up the more ‘affordable’ market-share in international real estate.
