One of the more common questions foreigners have when they visit Costa Rica and the thought of retirement or owning a vacation home in Costa Rica crosses their mind is: what does land cost in Costa Rica?
Depending on your budget and your general attitude on being a homeowner, buying land and building a custom home may or may not suit you. If your dream has been to retire somewhere tropical and have your house built to your specifications, then starting from scratch is probably your best option. Purchasing a piece of land will be one of the first steps in fulfilling your dream.
Upside to Purchasing Property in Uvita
One of the alluring aspects about purchasing land overseas is that it’s possible to obtain prime real estate (e.g. ocean view, beachfront, large properties) at a more affordable price. Generally speaking, Costa Rica real estate prices fall somewhere between real estate prices considered normal in North America and real estate prices in other popular expat destinations considered cheap, such as Nicaragua.
While it’s possible to find a very good deal for real estate in Costa Rica, it’s also common to find overpriced real estate. But for the most part, you will find that real estate in Costa Rica is well-priced. The upside to purchasing property in Costa Rica is that there are areas of the country that are experiencing, or will experience, significant growth which in turn will drive the price of real estate in the area up.
Such is the case with Uvita and the Costa Ballena region. This region of the Southern Pacific coast of Costa Rica is experiencing a period of growth and while land prices have increased in the last five or so years, it is still possible to purchase property for a reasonable price. It’s also worth keeping in mind that it’s typical for the square meter price of a property to drop as the amount of land to be purchased increases – as illustrated by the table below.
Land Prices in Uvita, Costa Rica
In the Uvita area there are a wide range of property prices. The following figures are meant to serve as a point of reference and to provide you an idea of what you can expect to pay for land in the Uvita area; however, in no way is this information a concrete guide to land pricing. Also, keep in mind that real estate prices can fluctuate very quickly as sellers set their own prices, and there are many factors that will determine the final price of land, such as location, available services, zoning plans, and market demand.
Below are some general pricing guidelines to give a rough idea:
- less than 300 square meters ~ $120 – $100/sq meter
- between 300 and 500 square meters ~ $100- $80/sq meter
- between 500 and 1,000 square meters ~ $80 – $60/sq meter
- between 1,000 and 2,000 square meter ~ $60 – $50/sq meter
- greater than 2,000 square meters ~ $40 – $30/sq meter
Purchasing Property with or without Utility Services
The price information provided above is based on properties that do not have any utility services installed. The prospect of purchasing a piece of land without any utility services may be an uncommon situation in North America, or other developed countries, but in Costa Rica this is still quite common and should not deter you from moving forward with a land purchase. The installation of utilities, such as water and electricity, is not a difficult nor costly thing to do, though it can be time consuming. If you find yourself interested in purchasing property that would need to have utility services installed, and you don’t speak much Spanish, it’s recommended to hire someone familiar with the process to help you navigate the system. Your architect and/or general contractor should be able to refer you to someone who can carry out the task. In many cases, the general contractor can also do it as part of the home construction process.
Considering Building In Uvita?
Whether you’re just starting to explore the possibility of purchasing property in Uvita, Costa Rica, or have decided to build in Uvita, we recommend you read our three recommendations before starting your Costa Rica home construction project. Doing your research is key!
If you have any questions about building in the Uvita – Costa Ballena area, Uvita Construction Company is here to help. Don’t hesitate to contact us.