Latest News from the Construction Site
The first phase of construction at Azul Paraiso, the infrastructure stage, is progressing well. It is now 80% complete.
At the time of writing, only the parking lot grid is awaiting completion. The retaining walls, designed to keep the foundations secure, and platforms, which evenly distribute the buildings’ weight, are ready.
The groundwork preparations at Azul Paraiso are nearly complete. The construction team will begin work on the main buildings in the next 4-6 weeks.
The construction team expects to start work on the buildings themselves within the next 4-6 weeks. The first task will be pouring the concrete slab foundations, followed by erecting the structural frame of the buildings.
Once the frame is up, workers will install the exterior walls, windows, and roofing to create a weathertight envelope.
Azul Paraiso is nestled in the hills close to a stunning stretch of Pacific coastline.
Building work at Azul Paraiso remains on schedule. The expected delivery date for the first condos is Q2 2026.
I’ll be sending regular updates throughout the construction process. And if you have any questions about Azul Paraiso, send them to me and the team at Smart Money Homes. If we don’t know the answer ourselves, we’ll get it from the developer.
The email is info@smartmoneyhomes.com.
Azul Paraiso: A Look at the Local Real Estate Market
RETA members like you had the opportunity to buy two-bedroom condos with ocean-views from just $268,400. These high-end condos are 969 square feet including a 161 square feet terrace, close to the beach.
This is already looking like a great deal. My team found this condo for sale in Azul Paraiso. It’s not like for like, this condo is a little bigger than yours will be, but it gives an idea of the market here.
This two-bed condo, while not like for like, is listed at $403,970. RETA members like you paid just $268,400 for your condo.
The condo is listed for sale at $403,970, which works out as about $326 per square foot.
Congratulations for getting in on this deal!
And with the Guanacaste region going from strength to strength, this is only the beginning.
Strong Rental Returns in an Earlier Phase of Azul Paraiso
Guanacaste is a thriving tourist destination (more on this later), and I expect your luxury condos to be a big hit on the rental market.
Azul Paraiso will be a high-end community with incredible amenities. Owners and residents will have access to a beach club, with private parking and private beach access, just five minutes’ drive away. Spending a day at the beach will be a joy, something that will be hugely attractive to renters. Plus, your community will have a swimming pool, restaurant, beach volleyball, co-working space, and fitness center.
And don’t forget the lack of boutique accommodation available in Guanacaste. The rental market is growing fast, and there isn’t enough suitable accommodation to meet the demand.
So, you can see why I’m expecting a lot of interest on the rental market for your Azul Paraiso condos.
The two-bedroom condo below is from an earlier phase of Azul Paraiso, so it’s not like for like, but I thought you’d be interested to see the rental potential. Although there were some three-bed condos available, this was the only two-bed condo listed for rent in Azul Paraiso that I could find.
We’re approaching November, which is the low season. Even so, the condo is listed on Airbnb for $156 per night with a two-night minimum stay.
This two-bedroom condo from an earlier phase in Azul Paraiso is listed for $156 per night during the low season.
I was curious to see what the rental market for this condo would be during the high season…during December the price for a night stay rises to $212 per night.
During the high season, the price per night rises to $212, and possibly more…
But even more interesting is that from December 16, 2024, until May 1, 2025, the condo is booked solid. It could be a long-term renter, or the owner wants to live in their condo for half the year. Both options sound great!
Renting your condo both long- and short-term is a smart move. It helps you maximize your occupancy and income.
As you can see, the demand is there, and if the reviews below are anything to go by, you can expect plenty of repeat stays, the bedrock of a strong rental property.
This Azul Paraiso condo has a very high average rating… 4.9 out of 5.
Here are just a couple of the many great reviews.
A Roundup of the Latest News from Costa Rica
Guanacaste is experiencing a surge in tourism, and you bought ahead of it.
Before I get into the rest of the news, I wanted to share the latest figures for tourist arrivals into Costa Rica, which are hot off the press.
The numbers are impressive, especially for the Guanacaste region…
According to the Costa Rican Tourism Institute (ICT), tourism showed strong growth in the first six months of 2024, with a 14.5% increase nationwide compared to the same period in 2023. Air arrivals exceeded 1.5 million international visitors during this January-June period.
The ICT has now revised its 2024 tourism projections upward, anticipating a record-breaking three million visitors by the end of the year—up 200,000 on their initial forecast.
Azul Paraiso owners will be especially interested in the next part of the update…
Guanacaste’s Daniel Oduber International Airport has shown exceptional growth. The 537,823 arrivals through the first six months of the year represents a 25% increase in visitors on the same period in 2023.
Wow. A 25% rise in airport arrivals is incredible! Congratulations on buying ahead of this astonishing wave of tourism.
Costa Rica’s Economy is Booming
The economy in Costa Rica is booming and driving up prices in luxury real estate.
Costa Rica’s economy is experiencing major growth, with the International Monetary Fund projecting the country’s GDP to reach $96 billion in 2024, up from $69.2 billion in 2022. That’s a substantial $26.9 billion increase in just two years.
This is driving the real estate market, particularly in the luxury residential sector.
That’s another trend that Azul Paraiso owners like you bought ahead of.
New Flights Announced
Word is out on Guanacaste! Airlines are adding new flights during the peak season in response to the strong demand from tourists.
Guanacaste has long been popular with the rich and famous. Now that the rest of the world is beginning to catch on, airlines are expanding their services to keep up with demand.
Alaska Airlines is expanding its international service with new direct routes. Starting December 21, 2024, the airline will offer weekly Saturday flights from Seattle (SEA) and San Francisco (SFO) to Guanacaste.
American Airlines is introducing a new seasonal route connecting Philadelphia International Airport to Guanacaste. The service will commence on December 7, 2024, and operate weekly on Saturdays through March 30, 2025.
And since October 28, 2024, through April 2025, JetBlue are operating three new flights per week.
That’s all from me for now. I’ll write again soon, with updates from the construction site, and Guanacaste.
Remember, the Smart Money Homes team and I are here to help. You can contact us by email at info@smartmoneyhomes.com.
Viviana Diaz
Chief Real Estate Advisor with Smart Money Homes
