Streets may be quieter in Tamarindo and Langosta but as people retreat inside everywhere in the world, buyers spend more time searching for properties. Prior to the coronavirus pandemic, Costa Rica real estate market showed that we were going to have another strong year. Many buyers who had spent time preparing to buy a property in Costa Rica probably share the same question: Should I buy anyway? The answer is YES.
There’s still opportunity to buy a property this year and working with an experienced agent has never been more important. A lot of investors lost money on the stock market and are looking to invest the remaining with a very trustable name such as REMAX. There's no risks to be taken here! Our REMAX office has been opened since 1999 and we served thousand of satisfied clients since the opening. We keep receiving many inquiries every day of clients asking more information and we are happy to keep helping them with a #1 service as usually!
REMAX agents are experienced fully capable of adapting to a new environment, such as this crisis. Many buyers are wondering how they can possibly plan for anything in 30 days when even the world’s top health experts are unable to predict when “normality” will return. The key for agents and other professionals is to adjust their business accordingly and steps are being taken to prepare for longer contingencies. There’s more collaboration between buyers, sellers and their agents than ever. Everybody truly has to work together to get a transaction done.
Even with contingency plans in place, many buyers put their plans on hold until they will know more what the next few weeks could bring. At the same time, sellers are continuing to list their homes. We are working in a very special area where the beach is the attractive element so you could remove a 20% of the buyers from our market here, and we would still have a seller’s market. The sellers that don’t have a mortgage in their home country don’t need to sell at low price, either to sell at all but we think that the sellers that need the rental incomes to pay off a mortgage in their home country or maybe have financial issues might want to give a better reduction in price. We also might see more properties for sale.
For the next few weeks, current buyers could find more options available in their price range and the best deals will definitely go first. Many of these potential buyers are familiar with our area and are waiting for the perfect property to come on the market. People are still looking for opportunities to move to paradise. We are also seeing individuals looking at taking advantage of lowers interest rates in their home country to refinance existing properties.
RE/MAX Ocean Surf and Sun looks forward to continuing to work to serve you during this time and is getting prepared to serve those savvy investors ready to make a move after the crisis. Let’s stay in touch!