Costa Rica continues to be a top choice for international tourism and retirees and as the number of visitors to the tropical, Central American country continues to climb, so does the interest from international developers.
Of the Central American countries, Costa Rica captures 26.4% of the market share of visitors to the region with 2.3 million foreign visitors. Of those visitors, one million are American and it is estimated that 100,000 American citizens live in Costa Rica.
The United States and Costa Rica have relationship that extends beyond its tourists and citizens aboard. The U.S. is Costa Rica’s largest trading partner, accounting for over half of its foreign direct investment, not to mention exports, imports, and tourism.
Tourism is one of Costa Rica’s most important assets and every year the country draws more and more tourists who visit a variety of locations throughout the country. And while the country has plenty to offer, 5 out of 10 tourists head towards the Guanacaste Province, on the Pacific coast of Costa Rica. This region, home to the Papagayo Pennisula and some of Costa Rica’s most beautiful beaches, is also home to some of the new and exciting development projects.
The Papagayo Development Group has announced plans to raise around $67 million in initial funding for 2 major development projects in the Guanacaste region. The first, Ladera Del Mar, is a 561 hectare Master Planned Community in the Playa del Coco beach community, one of the most popular areas of Guanacaste. Ladera Del Mar is one of the largest tracts of ocean view parcels along the Pacific Coast of Costa Rica and this development is located close to Playa del Coco, which is the most populated beach town in Guanacaste. Conveniently, Ladera Del Mar is only a 20 minute drive from the Daniel Oduber International Airport in Liberia. This makes accessing, living, and investing in Ladera Del Mar a smart choice.
Ladera Del Mar will included real estate options ranging from single family lots, single family homes, townhouses and condominiums, private residence clubs/fractional owners, hotel development sites, hotel managed residences, and commercial and retail sites and units. This development will serve as an entertainment center for the surrounding luxury resorts of the area.
The second development project is The Wyndham Papagayo Yu Hotel and Private Residence Club with 63 residential villa-style units, located in Playa Panama. The 10 three and four story buildings that make up The Wyndham Papagayo Yu Hotel development features spacious hotel rooms, one bedroom condos, and large two bedroom residencies. This resort will include amenities such as tennis courts, swimming pools, a basketball court and even a mini golf course. A full service restaurant and a conference and meeting room will also be available at The Wyndham Papagayo Yu Hotel.
Both of the developments will open up more opportunity for real estate investment in this already popular and sought after location of Costa Rica’s Guanacaste coast. This region has seen 20% growth in real estate values and tourism over the past 5 years and the time to invest in real estate in Costa Rica’s Guanacaste Province is now.