Playa del Coco, Hermosa and Panamá

Coco is, quite frankly, a grubby little fishing town. Les Nunez, a real estate broker and co-owner of First Realty in Hermosa, prefers to call it a “town in transition.”

Either way, Coco has always been a popular vacation spot for Ticos and, more recently, U.S. retirees living on a pension. These days the area has plenty of cheap studio apartments, though not always of the best quality.

Until recently, Coco was almost synonymous with the Mapache Group, a developer who built cheap apartments for those retirees and Tico holiday makers. They’re not particularly attractive, and concerns have been raised over their environmental impact and construction quality. Still, some owners have made good returns on their modest investments by renting out these apartments.

These days, several similar developments have popped up in the area, but a newer, more expensive side to Coco development is emerging, with higher end properties - such as the Jack Parker Corporation’s Pacifico resort - under construction at the time of writing.

Coco has the advantage of a greater availability of services than the nearby growth areas of Hermosa, Playa Panamá and Ocotal. Most people in the area go to Coco for their shopping, postal and banking needs. The town also has several dentists, medical clinics and pharmacies should you need them (see below for services table.)

Coco has a reasonably large expatriate community, and plenty of investors, vacation-home owners and Ticos live in the area.

Hermosa

The next cove north from Playas del Coco is Hermosa. The hillside that slopes down to the little bay and its long beach offers plenty of opportunity for great views, and both condo and single family home construction. Like Coco, the beach isn’t the prettiest you’ll find, but the great views make real estate in this town a bit more upscale.

At the time of research, the hills of Hermosa were a hive of construction activity, with lots being carved out and residences under construction. Nearby Panamá and Ocotal beaches are undergoing the same process, and plenty of expatriates already live there.

It appears that prices in both Coco and Hermosa are still on the up-tick. A mere 20 minutes from the international airport, these areas are a much more convenient location than Tamarindo. The great location means that the regional capital of Liberia is also a short drive away.

Northwest Guanacaste is often referred to as the Gold Coast because of the amount of investment going on. Much of that investment has paused for the moment thanks to the global economic recession and the problems in financial markets, however, real estate development has advanced to the point that there’s no turning back.