HomeTopicsExpat LivingForeign Buyers Drive Costa Rican Mountain Town Land Prices Up

Foreign Buyers Drive Costa Rican Mountain Town Land Prices Up

San Gerardo de Rivas is a small, traditional Costa Rican town situated high in the valley of the Chirripó Pacífico River in the Talamanca Mountains of south-central Costa Rica. The area has traditionally been dedicated to agriculture, and the land has been owned by locals who have devoted their lives to this economic activity.

However, things are rapidly changing in this region. The purchase of land by foreigners has led to a disproportionate increase in land prices, pushing locals away and forcing them to sell their properties. One local resident commented that he has received offers of millions of dollars for his land; however, he has refused to sell it.

“On one occasion, while I was milking the cows at 5 a.m., a couple arrived and I thought, ‘How strange, why are they coming at this time?’ They told me they were interested in buying my farm, and I asked them why since I wasn’t selling it. They replied, ‘But we want to buy it from you; that’s why we’re here,’” he said.

A four-hectare farm was offered for one million dollars, noting in its description that most of the neighbors are foreigners. In many cases, buyers divide the property and resell plots at exorbitant prices, multiplying their investment in a short time. Buyers pay from $250,000 to one million dollars, divide the land into four parts, and sell each part for one million dollars, quadrupling their initial investment.

Foreigners request real estate agents to fulfill three main conditions for purchasing properties: access to water sources, a river, and scenic views. Nonetheless, in a nearby town where there is no Asada, an entity responsible for promoting the development of water systems, a foreigner is building a private aqueduct.

Many residents of the affected communities have reported issues as foreigners attempt to prevent them from accessing the river and other public spaces. For most locals, the problem is not the presence of outsiders per se, but their inability to adapt to the community in which they arrive.

“The problem is not that they are here; it’s that they don’t respect the culture. They come here imposing things they shouldn’t,” one resident stated.

Trending Now

Costa Rica Artists Rally to Protect Montezuma Waterfall After Environmental Damage

Seventeen musicians have joined forces to defend one of Costa Rica's popular waterfalls, releasing a protest song after environmental authorities confirmed damage to protected...

Costa Rica Drops Bid to Join Pacific Trade Pact and Fires Its Trade Minister

Costa Rica drops its bid to join the CPTPP and fires its trade minister, citing secrecy over the deal and risks to ranchers and dairy farmers.

For the First Time, Women Lead All Three Branches of Costa Rica’s Government

Patricia Vargas's election as Supreme Court president means women lead all three branches of Costa Rica's government.

Costa Rica Megaprison to Limit Conjugal Visits to 30 Minutes Every Six Months

Costa Rica's CACCO megaprison takes its first inmates Monday under strict new visit rules.

Usher Returns to Costa Rica and Shares Photos of Guanacaste Getaway

Eight-time Grammy Award winner Usher has returned to Costa Rica, spending several days enjoying the beaches, tropical scenery, and luxury resorts of Guanacaste before...

US Embassy Links Chinese Mining to Illegal Gold Digging in Costa Rica, China Calls It Unfounded

The United States Embassy in Costa Rica has accused Chinese mining companies operating in Nicaragua of driving illegal gold extraction across the border into...

Santa Cruz Inspector’s New Truck and Mayor’s Son’s Bank Deposits Under Scrutiny in Guanacaste Probe

A municipal inspector in Santa Cruz, Guanacaste, bought a new Toyota Hilux for 21.2 million colones (about $46,500) that his income cannot account for,...

Costa Rica Begins New Prison Transfer Phase as CACCO Opens to Inmates

Costa Rica was scheduled to begin moving prisoners into its new maximum-security facility today, marking the next step in the government's effort to tighten...

Bukele Says Remains Handed Over in Haiti Do Not Belong to Missing Salvadoran Technicians

El Salvador President Nayib Bukele stated that human remains delivered to Salvadoran forces at a Haitian airport do not belong to the four aviation...
Loading…

Latest News from Costa Rica

Costa Rica Coffee Maker Chorreador
Costa Rica Car Rentals
Costa Rica Travel Insurance
Costa Rica Travel