Like most markets that were closely tied to the U.S. housing market, the central Pacific Coast in Costa Rica went through quite a downturn the past few years. Investors who previously could depend on rapid appreciation saw their home values level off or fall. In some cases they fell quite a bit.

Situations like this always create opportunities for new buyers. They key is getting the timing right. Buy too soon and you’ll lose out too. Wait too long and you can overpay by a hundred grand or more.

Some Latin American markets seem to be stabilizing and even rising as the economy slowly picks up and more retirees head south.

Could this be the time to buy on Jaco Beach or get a hillside villa with a panoramic view in the Manuel Antonio region? Or further afield in Quepos?

See what the luxury real estate agencies in the region have to say in our latest luxury real estate round-up: Costa Rica: West Coast Property Boom Redux.