The Santa Teresa/Mal Pais area is a paradise with a rapidly growing short-term rental market due to ever-increasing tourist popularity. In Costa Rica, foreigners enjoy the same right as nationals to own a vacation rental property, which makes it a viable investment opportunity for all!
If you’re looking to buy your dream Costa Rica Vacation Rental property…
RE/MAX Pura Vida wants to help. As a part of a two-part series, here are our recommendations for investing with the goal of maximum return!
Look for characteristics of a property with strong rental potential:
- Location, location, location! The highest rental potential for a beach town like Santa Teresa and Mal Pais are homes that are in close proximity to the beach and amenities.
Staying within walking distance to main attractions is a huge factor in tourists’ booking. This is because vacationers highly value ease for relaxing experience!
- Beyond location, an ideal Costa Rica vacation rental has security and/or gated access, privacy, cleanliness and comfort.
Great vacation rentals will also have most, if not all, of the following qualities:
- 2 or more bedrooms for families and/or private suite for couples
- En suite bathrooms
- A/C (at least in the bedrooms)
- High speed internet
- Wildlife and/or birdlife viewing
- Unique, marketable characteristics that highlight the wonder of Costa Rica. Vacationers often search for the special touch of a “unique stay” : sweeping ocean views, tree-top, modern construction, lookout points, and luxury amenities among others!
Book guests during the peak season, and save your visits for off season
Many investors dream of not only receiving an income stream from their vacation property, but also vacationing there .Make sure to leave your vacation property available during peak months for maximum return. In Costa Rica, you can expect occupancy rates to be up to:
- 75 – 100% occupancy December – April,
- 25 – 50% May – July
- 10 – 25% August – September, and November
- 0 – 10% October
In general, December-April are the most popular rental months due to winter and spring break in the northern hemisphere, and sunny skies in the tropics. The highest rental season in Costa Rica is during Christmas, New Year’s, and Semana Santa (the week before Easter)
And finally, October is typically the rainiest month in Costa Rica, therefore, rates are usually the lowest.
Surround yourself with professionals you can trust in Costa Rica
The process of buying a property abroad can seem daunting with the details of titles, taxes, insurance, public services, and locations. However, you can be assured that no one is more qualified than a RE/MAX Associate.
When working with RE/MAX Pura Vida, all our properties listed have already cleared a basic due diligence which includes checking the listings with the Central Land Registry. In addition, we live and work in the area, providing you with first-hand knowledge about the community, current sales and lifestyle of the area.
With more offices in more countries than any other real estate brand in the world, it’s no wonder that no one sells more real estate than RE/MAX.