TAMARINDO REAL ESTATE MARKET REPORT MAY 2024
It’s evident that our market has undergone significant shifts since its peak in 2022. While there’s still considerable activity, it’s more akin to a robust tropical disturbance compared to the hurricane of previous years. Quality properties at reasonable prices continue to attract attention, but the challenge lies in the abundance of overpriced listings, revealing a notable discord between sellers, their agents, and market reality. In response, creativity and clear communication with clients and colleagues are becoming increasingly vital, as evidenced by the gradual reduction in asking prices.
Regarding the influence of global interest rates, despite our cash-centric market, their impact on the overall landscape cannot be dismissed. Governments worldwide have long engaged in unprecedented money printing, rendering the once-fabled 2 percent interest rates a relic of the past. It’s essential to acknowledge that era as a fleeting moment, as we transition to a new reality. Those who weathered the high rates of the 1980s understand that consumers adapt, and historical context suggests that current rates are not as extreme as they might seem.
