The Central America House Price Snapshot, coordinated by Reveal Real Estate and Global Property Guide, reveals the sales price of similar homes across 12 real estate markets in Belize, Nicaragua, Costa Rica and Panama. The study relies on input from members of a special Benchmarking Group comprised of recognized real estate experts in Central America.
It’s all explained in this short video:
The results shine a light on house prices in locations popular with international real estate investors. Often described as “hotspots,” these are premium locations with inherent natural appeal and local attractions that draw in tourists as well as real estate investors.
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Who are the Benchmarking Group?
The Benchmarking Group brings together some of the top real estate experts in Central America – people with in-depth knowledge of their local market. We are honored to work with the following Benchmarking Group members for the 2012 study.
|Real Estate Expert||About||Country||Area||Website||Logo|
|Ann Kuffner, Escapeartist Belize||Escapeartist Belize offers personalized relocation services to Belize.||Belize||Ambergris Caye||Escape Artist Belize|
|Macarena Rose, Rainforest Realty||Rainforest Realty is your Certified International Property Specialist and we are here to help you invest in Belize and create your vision of paradise.||Belize||Placencia Peninsula||Rainforest Realty|
|Petra Wolf, Coldwell Banker Belize Real Estate||Coldwell Banker Belize is dedicated to finding the best deals in Belize and working with the finest real estate developers.||Belize||San Ignacio||Coldwell Banker Belize|
|David Joyce, RE/MAX Colonial Properties||RE/MAX Colonial Properties is committed to provide you the same high quality of service in Nicaragua that you are accustomed to receive from RE/MAX in the United States and around the world.||Nicaragua||Granada||Remax Colonial Properties|
|Brooke Rundle, Coldwell Banker Nicaragua Real Estate||Coldwell Banker Nicaragua offers quality real estate opportunities in Nicaragua and expert insight into the property market.||Nicaragua||San Juan del Sur||Coldwell Banker Nicaragua|
|Jeff Soderlind, The Horizon Group||The Horizon Group has vast knowledge of the local real estate market offering a well-balanced insight of the area to ensure that clients meet their investment goals.||Nicaragua||Tola||Horizon Group|
|Steve Linder, Pacific Lots of Costa Rica||Pacific Lots of Costa Rica represents the largest developer of residential property for expats in Costa Rica.||Costa Rica||Ojochal||Pacific Lots Of Costa Rica|
|Ivo Henfling, GoDutch Realty||GoDutch Realty are a proven resource for real estate in Costa Rica with years of proven track record in the country.||Costa Rica||Santa Ana||GoDutch Realty|
|Joost Hauwert, Hidden Coast Realty||Hidden Coast Realty finds the best deals for its clients and prepares thorough real estate tours with the idea of letting the buyer make an informed decision.||Costa Rica||Tamarindo||Hidden Coast Realty|
|Paul McBride, Boquete Highlands Real Estate||Contact Boquete Highlands Real Estate for honest and true information regarding real estate in Boquete, specializing in small farms and unique homesites.||Panama||Boquete||Boquete Highlands Real Estate|
|Mike Vuytowecz, Inside Panama||Inside Panama is devoted to providing high quality real estate services throughout the country drawing on over 30 years of experience in the industry.||Panama||Coronado||Inside Panama Real Estate|
|Kent Davis, Panama Equity||At Panama Equity, our mission is to provide first-world customer service through a comprehensive understanding of the Panama real estate market.||Panama||Panama City||Panama Equity|
The Benchmarking Group were asked to report the sales price of a “typical house” in the last year for a specific area. As the study provides a snapshot of the market, it is to be used as a guide, not a definitive price source.
Results Of The Central America House Price Snapshot
|Country||Area||Single Family Home Specs||Sales Price (USD)||Data Provided By|
|Belize||Ambergris Caye||3 bed, 2 bath, 2,000 sq ft, 0.11 acre lot*||295,000|
|Belize||Placencia Peninsula||3 bed, 2 bath, 1,860 sq ft, 0.36 acre lot**||575,000|
|Belize||San Ignacio||3 bed, 2 bath, 2,000 sq ft, 0.36 acre lot||255,000|
|Nicaragua||Granada||3 bed colonial property||150,000|
|Nicaragua||San Juan del Sur||3 bed, 2 bath, 2,000 sq ft||199,000|
|Nicaragua||Tola||3 bed, 2 bath, 2,325 sq ft, 0.25 acre lot||329,000|
|Costa Rica||Ojochal||3 bed, 3 bath, 2,200 sq ft, 0.25 acre lot||265,000|
|Costa Rica||Santa Ana||3 bed, 2.5 bath, 2,000 sq ft||212,000|
|Costa Rica||Tamarindo||3 bed, 3.5 bath, 1,700 sq ft on a 0.12 acre lot||375,000|
|Panama||Boquete||3 bed, 3 bath, 2,800 sq ft, 0.35 acre lot||235,000|
|Panama||Coronado||3 bed, 3.5 bath, 2,583 sq ft, 0.25 acre lot||330,000|
|Panama||Panama City||3 bed, 2 bath, 2,400 sq ft, 0.36 acre lot||200,000|
** property is located in a beachfront position.
- The median house price for the 12 markets was $260,000
- The average house price for the 12 markets was $285,000
- A $425,000 price gap was found between the most expensive market (Placencia Peninsula, Belize) and the most affordable market (Granada, Nicaragua). Note: The house identified in Placencia, Belize is located on the beachfront
- In all locations the price for a typical three bedroom house was below $580,000. If we take the beachfront property identified in Placencia from the sample, in the remaining 11 locations the price for a three bed house was below $380,000.
- The two lowest priced markets are located in Nicaragua.
- The two highest priced markets are located in Belize and Costa Rica. The Panama markets fall in the middle range.
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