WHAT´S NEW IN PLAYAS DEL COCO
Residents and visitors alike will notice there’s a lot of development happening in Playas del Coco.The 2023 peak tourist season in Costa Rica turned out better than most of us expected. The number of international visitors strolling the streets and filling our Costa Rica vacation rental properties was impressive, reaching near pre-pandemic numbers.According to an April 14th, 2023 report by The Costa Rica Star, a private landowner in Playas del Coco plans to develop a 1,000 m2 commercial center of five independent structures, one of which will house a branch of Banco Popular. The large-scale project, known as Plaza Nino, is not the only development in the works. Grupo Luperon, a local supermarket chain, is also considering expansion. And the same business group that recently completed projects around the Daniel Oduber International Airport in Liberia is working on permitting to develop a new strip mall called Plaza Montecarlo, near the entrance of Playas del Coco.
Another Real - Estate Boom?
With local infrastructure gearing up to accommodate the growing arrival of visitors and expats looking for investment opportunities or a secure retirement oasis, it’s no surprise the real estate market is following suit. “Both residential and commercial properties are quickly appreciating in Playas del Coco, and there is a sense of urgency among buyers and investors alike,” says The Costa Rica Star.
Marina de Playas del Coco on the Horizon
With over 10 years in the making, it looks like the development of a luxury marina in Playas del Coco will soon be underway. The marina, referrred to as Coco Marina in English, is planned to have enough dock space for up to 300 yachts, in addition to commercial and business infrastructure.Costa Rica’s National Tourism Board (ICT) approved the project years ago, yet national and international setbacks, including the Pandemic, delayed advancements. According to local sources, full-scale construction is anticipated to begin later this year.
More Luxury Resorts and Residences on the Gold Coast of Costa Rica
Anyone who's recently enjoyed a boat tour of the Gulf of Papagayo in Costa Rica will have noticed there is major land clearing and construction along the coastal hillsides between Playas del Coco an the Gulf's northern border.One such development,Nekajui, a Ritz-Carlton Reserve Residence, is currently breaking ground. Some 36 Private villas and estates are in the works. Each is advertised under $6 million according to their website.The resort will feature luxury suites, including tented versions, as well as the full gamut of restaurants, amenities, and all the other bells and whistles associated with the Ritz-Carlton name.Likewise, there's plenty of talk about a second Hard Rock Cafe to the region's sandy shores. Will it take root in Coco or further south in Tamarindo has yet to be determined.