Trends in the Costa Rican urban real estate market in the young adult segment

Authors

Muñoz Valenciano, Edgardo

Esquivel Vilchez, Yolanda

Hunter Torrealba, Roberto

Gómez Quesada, Brenda Gómez Quesada

Bolaños Echevarría, Luis

Rettally Vargas, Ana Del Carmen Rettally Vargas

Valdez Carías, Silvia Denise

Abstract

The real estate system is leaving behind the restrictions and impact of the COVID-19 pandemic and is beginning to recover pre-pandemic sales levels. New real estate developments must consider the changing preferences of buyers. This study analyzed the preferences of the young adult segment. Data was collected with a digital questionnaire, distributed in the cantons of Belén and Heredia in the province of Heredia in Costa Rica. A total of 383 surveys met the inclusion criteria, 52.7% were from women, most were university students and salaried. 65% were interested in having their own home, with no significant statistical difference between horizontal or vertical housing, but 79% would prefer to have two or more rooms. 87.2% would prefer to have access to a supermarket, 50% access to a pharmacy and 27.2% to a veterinarian; 90% prefer a home near their work and 96% prefers to have green and recreating spaces. Developers and entrepreneurs in the real estate market must consider these preferences when planning and offering real estate products