Will the Kraken be Released!?
The 2024 election is finally over!
And, while I’m certainly not happy with the result, I can't say that I'm really all that surprised.
Previous posts have revealed the depressing effect the election was having on the Costa Rica real estate market.
Election years always provoke a lot of uncertainty and that usually doesn't bode well for real estate buying decisiveness. And this election provoked more than the average level of uncertainty!
Well now that it's behind us, what next?
I also predicted in a previous post that a Trump win would unleash a lot of pent-up demand and possibly ignite another sellers' market in Costa Rica.
And, of course, he won!
So, you ask, is it happening?
It's a bit too early to respond with a resounding yes, but I've noticed a pick up in buyer inquiries already. I'm quite confident that 2025 will be a banner year for Costa Rica real estate. And the election result effect is being magnified by the sharp drop in rates by the U.S. Federal Reserve.
All signs are pretty much indicating there is good reason to be bullish about Costa Rica real estate demand in 2025.
So, you’re thinking about making your move. What does this all mean for you?
2024 was a down year for Costa Rica real estate. Transactions were down, prices have fallen, and inventories are up in pretty much all key areas of expat real estate interest.
2024 ain’t over quite yet, so if you’re contemplating a move, I think now is the time.
Of course, many will scoff at my advice under the idea that buyer's are always in charge when it comes to the Costa Rica real estate market. That I’m just trying to provoke a “sense of urgency.” Well, yea…
But truth be told buyers certainly weren't “in charge” during the post- COVID years of 2021 and 2022.
In those years demand greatly exceeded available inventory and time on market reduced from months to days for the best properties in key markets. As a result, prices soared to ridiculous heights. That started turning around in the second half of 2023 and accelerated through 2024.
As a result, there are some real bargain buys out there right now!
Trust me, this won't last if pent-up demand is unleashed like it was when the country's borders opened back up in late 2020. And this time the wave of expat interest may very well be even greater. I’m not even sure if Costa Rica can handle the influx!
Now I don't want to have to write a post later in the coming year entitled “See, I Told You So.”
Before the Kraken of Costa Rica real estate demand is fully released, get down here and make your move!
Of course, I’m here to help.
