What Is The Central America House Price Snapshot?

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.

The goal is to help improve the transparency of the real estate market in Central America and provide a useful data-set for buyers, sellers, developers, analysts and everyone involved in the sector.

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 ExpertAboutCountryArea WebsiteLogo
Ann Kuffner, Escapeartist BelizeEscapeartist Belize offers personalized relocation services to Belize.BelizeAmbergris CayeEscape Artist Belize
Macarena Rose, Rainforest RealtyRainforest Realty is your Certified International Property Specialist and we are here to help you invest in Belize and create your vision of paradise.BelizePlacencia PeninsulaRainforest Realty
Petra Wolf, Coldwell Banker Belize Real EstateColdwell Banker Belize is dedicated to finding the best deals in Belize and working with the finest real estate developers. BelizeSan IgnacioColdwell 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.NicaraguaGranadaRemax Colonial Properties
Brooke Rundle, Coldwell Banker Nicaragua Real EstateColdwell Banker Nicaragua offers quality real estate opportunities in Nicaragua and expert insight into the property market.NicaraguaSan Juan del SurColdwell Banker Nicaragua
Jeff Soderlind, The Horizon GroupThe 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.NicaraguaTola Horizon Group
Steve Linder, Pacific Lots of Costa RicaPacific Lots of Costa Rica represents the largest developer of residential property for expats in Costa Rica.Costa RicaOjochalPacific Lots Of Costa Rica
Ivo Henfling, GoDutch RealtyGoDutch Realty are a proven resource for real estate in Costa Rica with years of proven track record in the country.Costa RicaSanta AnaGoDutch Realty
Joost Hauwert, Hidden Coast RealtyHidden 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 RicaTamarindoHidden Coast Realty
Paul McBride, Boquete Highlands Real EstateContact Boquete Highlands Real Estate for honest and true information regarding real estate in Boquete, specializing in small farms and unique homesites.PanamaBoqueteBoquete 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.PanamaCoronadoInside Panama Real Estate
Kent Davis, Panama EquityAt Panama Equity, our mission is to provide first-world customer service through a comprehensive understanding of the Panama real estate market.PanamaPanama CityPanama 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.

The “typical house” is defined as a single family home, approximately 2,200 square feet in size with 3 bedrooms and 2 bathrooms, on a lot no greater than ¾ of an acre located in a “middle market” neighborhood where international real estate investors are purchasing.

Results Of The Central America House Price Snapshot

Country AreaSingle Family Home SpecsSales Price (USD)Data Provided By
BelizeAmbergris Caye3 bed, 2 bath, 2,000 sq ft, 0.11 acre lot*295,000
BelizePlacencia Peninsula3 bed, 2 bath, 1,860 sq ft, 0.36 acre lot**575,000
BelizeSan Ignacio3 bed, 2 bath, 2,000 sq ft, 0.36 acre lot255,000
NicaraguaGranada3 bed colonial property150,000
NicaraguaSan Juan del Sur3 bed, 2 bath, 2,000 sq ft199,000
NicaraguaTola3 bed, 2 bath, 2,325 sq ft, 0.25 acre lot329,000
Costa RicaOjochal3 bed, 3 bath, 2,200 sq ft, 0.25 acre lot265,000
Costa RicaSanta Ana3 bed, 2.5 bath, 2,000 sq ft 212,000
Costa RicaTamarindo3 bed, 3.5 bath, 1,700 sq ft on a 0.12 acre lot375,000
PanamaBoquete3 bed, 3 bath, 2,800 sq ft, 0.35 acre lot235,000
PanamaCoronado3 bed, 3.5 bath, 2,583 sq ft, 0.25 acre lot330,000
PanamaPanama City3 bed, 2 bath, 2,400 sq ft, 0.36 acre lot200,000
* property has not sold.
** property is located in a beachfront position.

Key Findings

  • 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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An infographic showing the results posted on a map of Central America

2012 Central America House Price Snapshot Infographic