Written by Luxury Expert Vicki Klunk
One of the questions I am hearing most often right now is whether this is a good time to sell real estate in Costa Rica, particularly given the current value of the U.S. dollar.
My answer is that the exchange rate alone should never determine that decision. The more important question is: what do you intend to do with the money after you sell?
We are currently navigating a market that offers particularly interesting conditions for buyers holding U.S. dollars. But for sellers, the opportunity depends entirely on what comes next.
For Buyers, the Current Market Deserves Attention
For buyers with capital in U.S. dollars, I see this as a market worth watching closely. There is a broad selection of properties available, and in several segments we are seeing pricing that is considerably more competitive than what buyers encountered in previous years.
This is especially relevant in the luxury and investment markets, where the combination of available inventory and current pricing is creating opportunities that did not exist in the same way before.
The important point is not simply that the dollar is lower. It is that buyers with dollars may currently be able to enter certain projects or properties at values that make sense within a longer-term investment strategy.
“If you are entering the market as a buyer with dollars available, I believe this is an important moment to evaluate the options currently available in Costa Rica’s luxury real estate sector.”
“If you are entering the market as a buyer with dollars available, I believe this is an important moment to evaluate the options currently available in Costa Rica’s luxury real estate sector.”
Selling Depends on What You Plan to Do Next
When an owner asks me whether this is a good moment to sell, I first want to understand the purpose of the sale.
If the objective is to sell a property priced in dollars and then use those proceeds to build in Costa Rica, I would be much more cautious.
Construction expenses are largely incurred in colones. Selling an asset in dollars while the dollar is relatively weak against the colón means that those proceeds may have less purchasing power when converted to cover local construction costs.
In that scenario, selling today may not create the financial advantage the owner expects.
However, the analysis changes significantly when someone is selling one dollar-denominated property to acquire another dollar-denominated asset.
“If you are selling dollars to spend primarily in colones, the current exchange-rate environment deserves careful consideration. If you are selling a dollar-denominated asset to purchase another asset in dollars, the same market may present an opportunity.”
“If you are selling dollars to spend primarily in colones, the current exchange-rate environment deserves careful consideration. If you are selling a dollar-denominated asset to purchase another asset in dollars, the same market may present an opportunity.”
Selling to Reinvest in Dollars Can Make Sense
If the purpose of the sale is to reposition capital into another property that will also be purchased in U.S. dollars, this can be a very different opportunity.
You may be selling in the same currency in which you intend to reinvest, which reduces the relevance of converting those proceeds into colones. At the same time, you are entering a market in which there are properties and new developments available at competitive prices.
For some owners, this creates the possibility of upgrading, diversifying or simply moving capital into an asset with stronger investment characteristics.
This is why I do not believe there is a universal answer to whether someone should sell right now. The correct strategy depends on the destination of the capital.
Where I Am Seeing Opportunities
The current market offers a wide range of investment options across the Greater San José area.
Rohrmoser
Rohrmoser continues to expand its inventory of vertical residential developments, including projects designed with investment buyers in mind. I am seeing increasingly competitive options in this part of San José, particularly for buyers looking for modern apartments and newer developments.
Escazú
Escazú remains one of the most established luxury residential markets in Costa Rica. At the moment, there are several projects where pricing deserves attention, particularly for buyers who have been waiting for a more favorable entry point into the area.
La Guácima
La Guácima is another market I am following closely. New residential developments are bringing houses to market at attractive price points, offering another alternative for buyers looking for more space while remaining within reach of the Greater Metropolitan Area.
A Market for Strategic Buyers
In my view, this is an especially interesting period for buyers who already hold U.S. dollars and are considering luxury real estate in Costa Rica.
There is more choice, there are compelling opportunities in new developments, and in certain cases the values we are seeing today are below those associated with comparable opportunities in previous years.
But buying simply because the market appears favorable is never enough. Location, property quality, developer track record, resale potential and the intended use of the asset still matter.
The same applies to sellers. The decision should never begin with the question, “Is the dollar too low to sell?” It should begin with, “What is the objective of selling?”
Once that is clear, the exchange rate becomes one element of the strategy rather than the strategy itself.
If you are exploring your next investment and would value a more personalized perspective on the market, send me a message on WhatsApp. I can help you review the opportunities currently available and determine which ones are worth your attention.
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