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Ask anyone living in the Nosara area of Costa Rica about finding a long term rental home and you will get responses ranging from “good luck” to “you’d better rent whatever you can find and do it fast.” Why such a grim outlook? The answer is simple—Nosara has a shortage of housing for individuals and families that are flocking to this beach town for employment, schooling, and lifestyle opportunities that have recently made it a popular destination for year-round living. Without rental properties and with little time to find land and build a home, many of these adventurous people are left with few options but to either delay their plan or move elsewhere.
The signs and symptoms of a growing economy in Nosara are everywhere and the pressure is firmly on the housing market. New businesses are being built, existing businesses are expanding, and people are spending time and money creating their dream lifestyle in paradise. One of the more salient growth signs is the amount of new students that are enrolled in the area’s top private school. According to Bram Shook, one of the founders of the Del Mar Academy and owner of Century21 in Nosara, enrollment has skyrocketed from seventy-four students in July 2013 to an impressive one hundred and sixty-four in September 2014. The enrollment demographics include students from first to ninth grades who, along with their families, have arrived in the community from twenty different countries.
To add to the mix of promising statistics, a recent study by the World Travel and Tourism Council stated that the Costa Rican tourism industry will grow at a projected annual rate of 5.2%, meaning that its tourism economy will be 66% larger in 2024 than in 2014. This means more travelers to Guanacaste, more growth and demand for hospitality and tourism services, and a serious need to accommodate everyone—from business owners and their families to the employees who will migrate to the area for all types of employment. Combine these estimates with the current demand for rental housing and the opportunity begins to take true shape.
Nosara’s lack of long term rental properties is both a problem and an opportunity, depending upon what side of the housing market you are participating. If you are searching for a single family home to rent for more than six months between the peak season times of December to May, this is definitely a problem. On the other hand, if you are a real estate entrepreneur your timing for reading this article is perfect because Playa Guiones (and surrounding areas) has an abundance of raw land that is optimal for building the much needed single family homes and condominiums. Kim Shook of LaCosta Rentals in Playa Guiones is responsible for both vacation rental and long term rental bookings from her office inside the Century21Nosara headquarters. Needless to say, Kim is busy year-round with the ever-popular vacation rental business that plays a leading role in Nosara’s travel and tourism markets. When asked about the availability of a two or three bedroom home for a rental period of six months or more, she simply pulls out her waiting list and signs your name on it.