Jaco Area Remains Increasingly Popular
The Central Pacific region of Costa Rica remains one of the most sought-out areas for seeking vacation properties, second homes, and/or a full-time residence. While Jacó and the Los Sueños Resort and Marina get their share of attention, it is the diverse mix of communities and centralized amenities that make the region a popular fit for many.
Die-hard surfers and those seeking Costa Rica of old might love Hermosa, or local Tico families might still be drawn to the white sands of Punta Leona. A melting pot of cultures, along with many San José-area residents, are fueling the growth: from the best that luxury living has to offer in the Los Sueños Resort to the quiet rural Esterillos setting, or maybe the more active pace in Jacó, where you can enjoy fee-simple-titled beachfront ownership.
It was only about 16 years ago that we started to see Jacó develop, and just 10 years ago that this now-bustling beach town became a 2.5-hour drive from the San José capital and airport. The world has seen some changes in trends and behaviors demonstrating how the Jacó market could quickly be changing. Here are a few trends we are seeing in the Central Pacific.
The remote worker
Most North Americans have limited vacation time, and can find it challenging to travel as much as they would like during work breaks. As more employers look at shifting to more flexible workplace options, including allowing employees to work remotely on a permanent basis, many are taking advantage. Especially for those facing cold winters up north, coming down to live and work in Costa Rica for two or three months every year can justify buying a property here. I expect more and more home buyers to fall into this remote worker category, likely younger professionals from all over the world.
The urban escape
Cities all over the world have seen the urban escape trend. The constraints of small residential apartments in many instances, with almost no outdoor space and pandemic-related restrictions on the perks of city life, has pushed many to seek a more rural setting.
Here in Costa Rica, it has been no different. Pandemic lockdown measures early on saw many residents from the San José area looking to rent or buy properties at the beach, where they could escape from the city. This is something I have always expected would become popular, even in normal non-pandemic circumstances: people relocating from the San José area to live near the beach full-time and just commute to San Jose once or twice a week if necessary. Working remotely will accelerate that trend.
The Jacó market has always attracted a large number of buyers who seek to use their property for six to 10 weeks each year and then rent it out the rest of the time. But over the past year, we have seen a shift; more people like the idea of spending more time here, and in many cases show no desire to rent out their property when not here.
Real estate all over the country is in hot demand and the Central Pacific is no exception. I anticipate interest and demand will continue for some time, and encourage anyone interested to act sooner than later.