Welcome to Costa Rica Investments' newsletter
We help advise and guide you to make the right decision for your investment in Costa Rica.
This months newsletter features:
Investment Analysis: La Esquina 6 and 24 Plaza Carlota
Data Spotlight: May 2024
Investment Tour Packages: 30% off when booked in July
Monthly Webinar: July 23 @ 4:00 PM ET - This month Jake Alexander will feature home inspector Alex Stripe with Stripe Signature Home Inspections Costa Rica. Q and A at the end. Sign up here >
Investment Spotlight:
La Esquina 6: 3-bedroom condominium on the first floor in Playa Langosta. The property is well-decorated and fully equipped with a well-appointed kitchen, and three bedrooms, including a master suite with an ensuite bathroom. There is a large terrace overlooking the pool. The property has private parking, and gated security, and is very close to Playa Langosta and other local amenities. The reason this property outperforms the other La Esquina condo also on the market currently is because of its extra bedroom. 3 Bedroom vacation rentals are able to charge far more than the 1 and 2-bed properties in Playa Langosta hence the increase in returns from this property.
There are other Airbnb's in the condominium that perform relatively well, and in the Langosta area vacation rentals have strong demand. We assume one can achieve a daily rate of at least $300, and occupancy of 57%, the estimated return is just above $70,000, or between a 6% and 7% return on investment.
24 Plaza Carlota: Las Catalinas is a small market, and there are only 7 other 3 bedroom Condos in the whole town. They all perform extremely well which is to no surprise. The property has partial ocean views, and is furnished tastefully.
Using all the comparable vacation rentals in the area, the condo will most likely achieve an average daily rate of $725 and an occupancy of 58%. Those figures are slightly conservative for Las Catalinas, but $725 a night would make this property a middle of the road rental in the area. That is an annual return of roughly 13.5%, roughly $ 170,000.
Meet with an investment specialist today! Click here.
Data Spotlight: May 2024
There have been an additional 240 properties added to the rental market in May, and 6,600 (24%) over the last 12 months.
Over the last 4 years, the average daily rate for May has increase $24.34 (11.35%) to 238.65
While occupancy is down from the post pandemic boom and we are seeing a return to seasonality here in Costa Rica, occupancy for May is up 8.5% from 2019. 30.4% to 38.9%.
May was a good month for rentals in Costa Rica, beating 2023. If you remember, April was worse than 2023, but maybe this was because Easter was in March this year? We don't think we have enough data to be conclusive, but it will be interesting to see how the rest of the year looks to see the new tide mark in Costa Rica.
Investment Tour Packages
For the month of July we are offering 30% off our investment tour packages. Throughout the day, you'll explore a curated selection of hand-picked options tailored to your preferences, based on prior discussions with your expert. They'll be by your side every step of the way, offering insights into the local area, market dynamics, cultural nuances, and more, ensuring you have all the information needed to make informed decisions. Click here!
Join us July 23rd @ 4:00 PM ET
Jake Alexander and Alex Stripe will be discussing investing in a home and the role a home inspection plays.There will be a Q&A at the end. Join here!
Missed the June webinar about the architectural process? Find it here.
For all things Costa Rica Investments, Real Estate & Relocation, make sure to tune in to Richard's podcast. Find them all here!
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