How much does a house cost that is 200 square meters, 3 bedrooms and 2 bathrooms, in an area of 3,000 square meters, in a middle class neighborhood?
The Central America House Price Snapshot, coordinated by Reveal Real Estate and Global Property Guide, reveals the sales price of similar homes across 12 real estate markets in Belize, Nicaragua, Costa Rica and Panama. The study relies on input from members of a special Benchmarking Group comprised of recognized real estate experts in Central America.
The goal is to help improve the transparency of the real estate market in Central America and provide a set of useful information for buyers, sellers, developers, analysts and other stakeholders involved in the sector.
Key findings from the Central America House Price Snapshot:
– The median house price for the 12 markets was $260,000
– The average house price for the 12 markets was $285,000
– A $425,000 price gap was found between the most expensive market (Placencia Peninsula, Belize) and the most affordable market (Granada, Nicaragua). Note: The house identified in Placencia, Belize is located on the beachfront
– In all locations the price for a typical three bedroom house was below $580,000. If we take the beachfront property identified in Placencia from the sample, in the remaining 11 locations the price for a three bed house was below $380,000.
– The two lowest priced markets are located in Nicaragua.
– The two highest priced markets are located in Belize and Costa Rica.
– The Panama markets fall in the middle range.
Source: revealrealestate.com
A 3/2 on a three-quarter acre plot for about USD 275 thousand in Panama sounds great! I’ll be a serious buyer in about one year.
Wow! I will stay here in Colleyvile, Texas (10″ from DFW International Airport) where you can find a new or totally remodeled home (3/2/2 or 4/2.5/2) for $100 per square foot. The home in your example would cost around $215,000 here. By the way Colleyville is a very desirable city having previously ranked by Money Magazine as being in the top 100 suburbs in the United States. So much for the “great deals” abroad!