It is more than evident that the local real estate market in Tamarindo and surrounding areas have become steadily more dynamic year after year. We in the business keep on selling more of the usual existent seaside vacation residences: either condominiums or single-family homes. Nevertheless, perhaps within the last 12-24 months, the sales of lots has reactivated coming back after the real estate boom that ended in 2008.
Available lots have been selling and owners that had kept their properties dormant waiting for a better time to sell them, or simply who had invested originally to build homes that they won´t do anymore, are coming around now. Gated communities that offer home sites, which had plenty of options still available for years now run scarce on inventory. El Tesoro and Punta San Francisco are almost sold out. In Punta San Francisco we´ve sold 20 lots within the last 24 months and with two more under contract this month, there are only three more available in the entire community. New construction on these sites and in random lots around town is evident. Other communities that are not right at the beach like Rancho Villareal, Tamarindo Heights and the ones inside Hacienda Pinilla are seeing considerable action now as well.
A typical question buyers of these lots have is What about the water? Some are worried that water service might be denied for building on the lots. The basis for this concern usually is the crisis we experienced a year ago after three unusual rainy seasons in which it almost did not rain to El Niño climate phenomenon. Those times were harsh in that sense and it was common to see several water trucks delivering in town and a lot of owners had to invest in backup water tanks and pumping systems which now we realize is a good thing to have just in case.
Luckily, that drought is over, and it opened the competent institution’s eyes to see that a well-structured, consistent solution to attend to the water demand for the coming decades in a flourishing seaside region has to be achieved.
In the recent tour president Luis Guillermo Solis did through the province of Guanacaste from July 20th thru July 25th celebrating 193 years of the ¨Anexión del Partido de Nicoya¨, this matter was addressed. The president spoke about the huge project called “Proyecto de Abastecimiento de Agua para la Cuenca Media del Río Tempisque y Comunidades Cercanas (PAACUME)”. This initiative pretends to create a new reservoir fed by the existent Arenal one and have it feed a lot of the water need for the province. The government has projected that the studies for its construction will be ready this year, and actual construction starts in 2019.
A local solution is also moving forward. This is the creation of the Acueducto de Nimboyores. This will bring water from a healthy water bed that is not that close to the ocean through around 30 km of pipes. It would service along the way fourteen ASADAS (local water system administrators) on its way to the coast (servicing Potrero, Flamingo, Brasilito, Playa Grande, Tamarindo, San José de Pinilla). We witnessed months ago topographers from Acueductos y Alcantarillados doing the field work establishing where these pipes would go through. The cost of this project is said to be USD$15 million, money is secured, environmental studies have been done, and it is projected that work will start before this year ends.
In the practice and speaking with knowledge based on recent experience, I can tell you that a water letter for a residential project in Tamarindo can be obtained with no hassle. I personally solicited three water letters for apartment projects in three random lots in town. I presented the file in the local Acueductos y Alcantarillados office in Plaza Conchal on July 28 and got the documents delivered at the same office on August 9. Anyway, when buying a lot, your legal representative should make sure that as part of the due diligence, you get the assurance that you will be able to build what you want on the property and having access to water is a must in that sense.
You can check our lot listings in the following link: https://abccostarica.com/listings/lots and please, do not hesitate to reach your ABC Real Estate agent if you have any questions.
Credits to: Federico Fernandez