One of the reasons the real estate market in this beautiful part of Costa Rica hasn’t taken off is because it isn’t near the ocean. The majority of the foreigners and expatriates buying in Costa Rica are from North America, where beachfront or ocean view properties are prestigious and have become very expensive. There is, however, increasing interest in the Areal area because of the relief it provides from the heat on the coast, its almost unequalled beauty, and its relatively lower prices.

Realtors say that property prices are experiencing upward pressure, and that the continuing arrival of baby boomers looking for an inexpensive place to retire will further that trend.

As for variety, the area runs the gamut, from farms to smaller home sites and turnkey houses. At the time of writing, however, there weren’t many new homes available. The market offers quite a few old Tico houses.

Realtors say demand is up across the board, which bodes well for the market in the near future. The construction of a few new gated communities in the area should add to that demand by attracting buyers looking for safer properties.

Having started much later than the Pacific coast, the real estate market for foreigners and expatriates is in its infancy in this region, which leaves plenty of room for growth, though it will never get as hot as the beach areas.

Still, the big deal in the Arenal area is the lake and volcano views. You pay a premium for good views of these landscapes. Expect to pay more for a combination, a little less for just the lake, and a little less again for just the volcano.