Nosara Real Estate Market Trends
Richard: Good afternoon, Carmen. How are you doing?
Carmen: Hi, Richard. Good, and you? Happy to be here?
Richard: Not at all. It’s an absolute pleasure to have you in the podcast. I know we were talking just before we jumped in here about that beautiful background that you’ve got there. It looks like you’re actually at the, like the canopy level or something.
Carmen: Exactly, yeah. From. From the balcony, from the level of the house. I can see the monkeys on the trees.
Richard: Wow.
Carmen: Yeah.
Richard: Very unique. Very unique. Well, Carmen, again, as I said, very much appreciate you joining us here on the podcast. I mean, the first question I like to ask is, you know, I mean, there’s been a lot of volatility in Western markets at the moment. You know, it’s. I’m always interested to see how that impacts definitely real estate in areas in Costa Rica. And you’re in no Sara, but I mean, how would you say that? I mean, this year has kind of played out compared to previous years. And also, where do you think it’s going? Common.
Carmen: Okay. My answer to that is it’s gaining momentum. We have to go back to what happened in 21 first. We have. We had a pandemic, right. The last pandemic, similar pandemic was 100 years ago. So that’s not something that happens every day. So after the pandemic, there was like this big question mark for everybody because we didn’t know what people. People’s reaction was going to be. We didn’t know if people are just not going to travel and stay at home and save all their money and just stay in their hometown. But it was quite the opposite. People around the world started thinking, okay, what do I want for myself? Where can I go to have a quality lifestyle? What makes me happy? So that’s what caused that famous tsunami. Right after the pandemic. But that tsunami can’t last forever. So right now the market recovered like a regular pace. But it’s, but it’s growing. Like there’s so many things coming for Nosara, for different types of people, different type of things that you’re looking for. And right now, I think in the American market, well, from the United States, there’s normally a pause before elections. Right. Everybody is like kind of waiting. But after the elections, people continue with their life, continue with their decisions. And I’m definitely very excited for what’s coming in the next months. Yeah.
Richard: So, I mean, basically, it sounds like, you know, post pandemic crazy as we saw, we’ve seen a bit of a. Somewhat of a, I would say correction or slowdown stability kind of this year. But like your, I suppose thesis is that post pandemic, post election, you think it’s going to kind of pick up again.
Carmen: Yes. Well, not that, like I said, not the tsunami after pandemic. Right. Well, we don’t know it’s good if it’s like that as well. But I, I follow all these Costa Rica chats in, in social media and everybody wants to Costa Rica. A lot of people want to move here. People want to continue like looking for a happy place. You know, we are in one of those blue zones of the world. Only five blue zones in the world and Nicoya are where Nos, for example, the peninsula is in one of those blue zones. So people are going to continue to look for that quality lifestyle and, and yeah, that’s why we will still be growing.
Affordable Options in the Nosara Region
Richard: I mean when people come to Nozada, you know, I mean it’s very expensive. Like it’s not the cheapest place to be in Costa Rica if you want to affordably live in no saddle or around it. I mean how does that happen? Like what are you looking for? Which areas would you be looking to live in? You know, and also like. Yeah, I mean how would you do it affordably?
Carmen: Well, again, as in any other country in the world, if you look for something closer to the ocean, then obviously it’s going to be more expensive.
Richard: Yeah.
Carmen: In Sarah, the areas around it have grown based on all these, these needs that are coming up. So you have on one side of Nosara you have delicious Garza, Esperanza, which are where normal local communities that now have been growing and people like it because there you are still able to get big pieces of land for a lower value than you would in Nosara. And also on the other side you still have Oceanal San Juanillo, Marbella, which will also continue to grow. Actually there’s the, they’re working right now on the bridge that communicates this area with ostional and normally there was always problems for people to go from one side to the other in rainy season because of the river. So once that is ready, the properties on that side will gain more value because people are able to come if they want to come at seven at night and any day and they want to cross over to Nozawa and go to a restaurant, get groceries and go back. So we will continue growing and people can choose either to live in Nosara or in these upcoming areas. However, in Osara there’s something for, for everyone. You just have to, I would say like look under the rock, right? When someone comes with a budget and then you’re like oh okay, well let me see what I can do. But then you have to ask around. They’re even like for, for rentals for people that come here for the first time. There are some local chats and where, and people can ask for, for, for more affordable rentals. So, so there’s, there are ways. You just have to invest more time.
Richard: I mean if someone’s coming and looking for like a, I don’t know, a two bedroom place in that area, I mean, how much are they going to be looking at? Because I use the word affordable. But like affordable for some people is a hundred thousand and other people it’s 500,000. I mean just to give listeners an idea here, I mean how much would something affordable. I’m going to use that word again be, would you say around, you know, the Nosada area.
Carmen: To purchase? There are some options still like in the 5, 600.
Richard: Okay. And then once you get further out that like once you move to Delicious etc or update, the prices start to drop a little bit.
Carmen: It depends what you’re looking for. Right now that area is growing so we will have more offer in the next couple of years.
What Makes Nosara Special
Richard: Okay, okay, okay. I mean, what is it that you know, I mean a lot of people listening here have probably some of them have been to Nosada, some of them have not. I mean, how would you describe Nosara?
Carmen: Nosara is, I say it’s like a little piece of paradise, let me tell you. Well, that’s one of the reasons that I’m here. And I would like all Costa Rican beaches to be the same. In Nosara, you know, you don’t have beachfront construction because Nosara, Pelara, Ocal are part of that national refuge. Right. So you can’t have that beachfront construction. And there are more than 200 hectares of protected area. Right. So you have a lot of green, you have a lot of green in front of the ocean and in your surroundings. That’s what makes Nosara special for me. And also people that move here are into that. It’s more a sustainable living. Right. And but that’s the thing about Costa Rica. In Costa Rica is such a small country. In eight hours you can cross from one side of the country to the other side. Right. So there’s really something for everyone. If you say, oh Carmen, you know, I’m such a party person, I want to go out every night. And then Noara is not for you. And if you say okay, I want high rises, then Nosara is not for you. But that’s the good thing in life in general, right? You, there’s a place for, for everybody and Nosara is a niche and well, it’s a beautiful place and if you, if you love it then you’re gonna, you’re gonna want to stay here.
Nosara vs. Samara: Cultural Differences
Richard: How would you compare something like, you know, a lot of people keep talking about Samara recently. How would you compare Samara and Nosara.
Carmen: Samura and Lasara? Well, they’re quite different. Normally the person that likes Samura does not like Nosara. That’s, that’s very interesting. Right? The lifestyle, the vibe. I think the people that come to live in a community, they, they kind of give that community like, like a certain cultural, a lifestyle. I don’t know. Then, then Nosara is more. For example, in Samara you have more and more and more community from the United States and the bigger percentage. So in general. Well, Nosara is more. We have more high end construction in summer. We have like a little bit of everything.
Richard: Yeah, I mean I think no Sarah is a little bit more family orientated as well than samurai. You know, samurai is usually. I’m not saying that there aren’t families in summer. I’m just saying that no saddle is more kind of family orientated. Schools, you know, a little bit more. I’m going to use the word crunchy and hippie than sama. Sama is a little bit more mainstream. You know, a lot more kind of bars and no worries. I think we’re both. I was sneezing there and now you’re coughing. So. So yeah, sorry.
Carmen: Apologize that I just have. I just had the flu. Like today’s the day when I feel better.
Richard: Hey, I just had it as well. So I think we’ve both got it here. So I mean it’s one of the things people are like, you can get flu in Costa Rica. And I’m like, yeah, you can get flu in Costa Rica. Pretty eas. You know when, when seasons change here we get a lot of rain. Yeah. Typically people get quite a bit of flu. But let’s just change the subject a little bit here, Carmen. About, you know, I keep getting a lot of comments on YouTube and just emails from people talking about gentrification. Like hey, you’re destroying our beaches, you’re taking, you’re making it more expensive for locals, etc. What is your viewpoint on that, Carmen?
Balancing Growth and Local Communities
Carmen: That’s a really sensitive topic. Right. I think there are different viewpoints around that if the area grows, you think, okay, things get more expensive on the other side. If they don’t grow, there are no jobs. And if there are no jobs, things are cheaper, but you don’t have money because there are no jobs. So kind of, that’s like a tricky. A tricky thing. But I think this is something that you will have in every community that’s growing. Like, this doesn’t matter where in the world. And it’s about local organizations encouraging local people to get creative. If it’s growing, there are more needs. I don’t know, more mechanics, more nannies, more sodas. So it’s about encouraging people to get more creative, but also people wanting to do it. Right. Like, I can offer you an English. A free English course, but you also need to come to the English course. Right.
Richard: Yeah.
Carmen: I like a quote. Well, it’s in Spanish. I’m all about quotes, so you probably hear a couple of ones.
Richard: I love quotes as well. Don’t worry.
Carmen: Yeah, I’m a visual person, so I kind of put that. Put it together with that. It says in Spanish, like, in times of crisis, some cry and some sell tissues.
Richard: Yep.
Carmen: Yeah. I don’t know if in English you have the same. Yeah, you have the same quote. But that’s interesting because, like, in. In times like this of change is where. Where you can kind of have to challenge yourself. Right. And discover, be on the lookout for opportunities. It’s funny because here, well, I see everything changing and everything happening. So every day I’m like, okay, maybe this business could be good. Oh, maybe we should have this. Like, I’m always. You’re like, always brainstorming. And that’s the thing. Change requires also new. New needs from these people that are coming in. So that’s where I think that people should get motivated and. And look for. For. For a spot in that change. Yeah.
Richard: You know, I always say, you know, the Costa Rican one, I platin el calle. There’s money in the street. Like there always is. You just need the opportunity. Like the, you know, just. I mean, not everyone wants to take that risk. But again, I do agree that sometimes, you know, this gentrification is in some area. As long as there’s a community that’s bringing up and everyone together, I don’t think it could be an issue. There are beach towns where that hasn’t happened as. As much. You know, I think Sarah has. And there’s been a lot of protection there. Yes, it’s got expensive. But again, as you said further back, it’s not that Expensive. But I mean, like, no, Sarah is kind of like a, I suppose, a star. It’s like, you know, Tamarindo. It’s like, you know, Santa Teresa. What do you think the next nosada, the next beach towns are going to be? That could be the next Nosada in 10 years.
Up-and-Coming Beach Areas
Carmen: Okay. Again, the small villages around Nosara are the ones where we’re going to see a lot of change in the next five years, right?
Richard: Yep.
Carmen: But for example, a beach town like Marbella, which is about an hour from Nosara, there we’re starting to see some developments. So that’s another area that will start growing. When you see more residential, then again they start, people start doing commercial things. And so that, that’s how it works. Right now we have Nosara and the surroundings of Nosara, like the immediate towns. So that’s definitely growing. In the next couple of years, you’re going to see a big changes. But for example, Marbella is one of those communities that, that, that would, that would be, that’s one of those upcoming communities and they have a beautiful beach. It’s also good for surfing. And it’s, yeah, it’s, it’s, it’s a beautiful location. And, and you’re in between. It’s also good because you’re in between Nosara and Tamarindo, so you kind of can go between both towns.
Costa Rican Culture and Adapting to Pura Vida
Richard: As a Costa Rican Carmen, if you could change one thing about Costa Rica, what would it be? Only one.
Carmen: Well, let me tell you, I grew, I grew up in Austria. My stepfather was from Austria. So sometimes I like things to happen that where they are supposed to be. So, so sometimes they’re like, oh, yeah, but they said that that’s, that’s the way it’s supposed to be. They said they were coming or they’re saying they weren’t doing that and then they tell me, yeah, Carmen, but you’re in Costa Rica, right. Sometimes things don’t work like that, remember? And I’m, I’m about that. So that’s something I would definitely like to change or. Well, in, in each of us. Right. But that kind of thing sometimes with workers that they’re supposed to show up and then they don’t show up. Things like that.
Richard: Yeah, yeah. I’m sure it could be very frustrating. I mean, you know, I’m always in two minds when looking to improve stuff. I was speaking to someone the other day who’s an investor here and developer, and he was like, wow, I just wish it was a lot easier, et cetera, et cetera. And I was like, if it was so much easier, there would be rampant development here. But I think we’d also lose that relaxed Puerto Vida atmosphere as well, because the moment that we move away from that a little bit, you know, we might lose some of that shine that, you know, makes Costa Rica very People, like, they’re happy, they’re relaxed. I’m like, yeah. And that travels through all walks of life, if that makes sense, from business to their personal life.
Carmen: Yeah, yeah, that’s right. Yeah, that’s, that’s an interesting and interesting way to see that it’s part, part of the culture. And that’s, that’s also a thing. When you move to another country, you have to embrace everything, right? Embrace whatever that brings. So it’s not only, oh, I’m moving and everything is going to be perfect. It’s a different culture, different type of procedures. So be patient and make it, enjoy the process, enjoy the ride. Like, like, like, should I say so you have to make it part of it. And yeah, but, but as you said, it’s part of, kind of part of the culture.
Richard: And yeah, as you said, I mean, it’s what makes this country, you know, amazing. So, so yeah, I mean, I’m used to it now. Do I like it? Not always, but, you know, I found a way now to get stuff done and kind of, you know. Yeah. I mean, it’s like, I think if you remember that, like, it’s like when you text someone here in Costa Rica, you can’t just go straight in and ask them. You have to say, you know, how are you? Like, how was your weekend? Like, it’s like the wolf of Wall street when Switzerland and have to spend 10 minutes of talking, you know, small talk before actually starting business. Here it’s very similar here. You know, it’s like 80 relationships, 20 business, the rest of the world, the other way around.
Carmen: Yeah. Yeah. That’s interesting. Yeah. Sometimes it’s like, okay, if you’re not that it can be, oh, he’s rude. It’s not that he’s Rudy. It’s just like straight to the point. I, I, I think so too. Yeah. So.
Investment Recommendations for Nosara
Richard: Well, Carmen, my last question for you is, I think I’ve kept you long enough. I mean, if you had $500,000 to invest into business or real estate in Costa Rica, what would you invest it in and why?
Carmen: Oh, that’s a good question. Well, there are so many things I’m a fan of. Land. They say buy land they are not making anymore, make it making it anymore, which is completely true. Right. There’s no, it’s not that you can’t produce more land. So I’m really a fan of land. I will buy land in one of the upcoming areas.
Richard: Give me the beaches. Tell me, Carmen, tell me the names because again, I think people listening to this take a, you know, they love to hear from people especially they’re in real estate of like what are the beach towns that they’re, they would be investing in?
Carmen: Well, if I want to be close to the ocean. Well, for example here in the delicious Esperanza area.
Richard: Yep.
Carmen: We have there a couple of. We have there some lots, actually bigger lots. And they’re good because you can divide them.
Richard: Yep.
Carmen: So I could do it like for invest. For investment, then divide them and then still be close to the ocean. And on the other side, for example, as I was telling you, if I get an opportunity close to the ocean, San Juanillo, Marbella, then it’s also a good opportunity because you’re everything that’s close to the ocean. It’s like a safe investment, right?
Richard: Yeah.
Carmen: The rest depends on what you like or what you need.
Richard: But what would you do, Carmen?
Carmen: Right now we have some lots in the area of Delicias. That’s one of the upcoming areas that we will see growing in the last, in the next couple of years. We have some 5,000 square meter lots. I like, I like big land. So I would buy that because I know it’s close to the ocean, still affordable and it’s an area that’s growing. We have a lot of commercial coming to, to, to Nosara to these growing areas. So everything will be there at hand. Right. It’s not that you have to drive 40 minutes to go to a supermarket. That side is growing as well with the residential part.
Richard: Yeah. Well, Carmen, this has been absolutely great. I very much appreciate your time for joining us on the podcast. I’ll put all of your contact details down in the description, but very much appreciate you taking the time to chat with us.
Carmen: Thank you so much. Bye.
Richard: No worries. Bye.
