Prices for houses in condominiums have risen by 23% in the last three months.
The price increase of around 270 dollars per square meter mainly affects thecities ofSan José, Heredia, Alajuela and Cartago.
Real estate agents attribute the price increase primarily to the short supply ofhousesin condominiums. Another factor is the bureaucracyduringthe construction phase (permits, forms, stamps, etc. in various institutions).
Heredia recorded the highest increase of 26% compared to the previous quarter.
In San José, the average price per square meteris1614 dollars, 18% more than in the first quarter of 2018. The capital has the largest number ofhousesin condominiums within the Greater Metropolitan Area (GAM), with 5,000 planned residential units.
The average price per square meter in Alajuela is $ 1371, an increase of 22.47%.
The old metropolis of Cartago also experienced a significant rise in prices. The cost per square meter of residential property rose from USD 1051 to USD 1322 between December 2017 and February 2018.
A total of 15,492 properties are planned for the second quarter of 2018, of which 5474 are for sale, the majority in San José and Alajuela.
Province 1st quarter fxc2. Quarter
San José 1365 1614
Heredia 1239 1559
Alajuela 1120 1371
Cartago 1051 1322
The prices (in dollars per m2) are sales prices and not construction prices.