Today, tourism is the primary source of income for most families. It now boasts some yoga retreats, surf clubs, and luxury accommodation for locals and visitors from around the globe.

What seems like one continuous and elongated town is a string of individual towns (pueblos), including Mal País, Playa Carmen, and Playa Hermosa. Each little town merges into the next, following the main road heading north along the coast towards the Guanacaste Province.

Santa Teresa is one of Costa Rica’s best surf areas. The coastline spreads northward from the tip of the Nicoya Peninsula, borders the Pacific Ocean, and is famed for its fantastic beach breaks and point breaks. The broad expanses of palm-lined white sand beaches make it a charming place.

Santa Teresa and the neighboring towns cater to all types of travelers (from individual backpackers to families) that either stay in hostels, long-term rentals, or luxury resorts.

Property Description: This collateral property is located in the best area of Santa Teresa, just minutes from the beach (5 – 10 min walking). This is a 12 unit complex. Each unit contains 2 full baths and 2 bedrooms, with one of the bedrooms constructed as a loft. Water and electricity have been installed (all the permits are in order). The borrowers have everything required to complete the construction of the units. They could purchase all the materials from overseas and have them shipped to Costa Rica in 6 large containers.

Note: The borrowers are 2 business partners currently working to obtain residency status in Costa Rica; they have other successful businesses in the Santa Teresa area.

The borrowers are asking for $120,000 to complete the construction and landscaping of the project. They have estimated 3 months to complete the entire project.

The entire investment for all 12 units, 1 pool, and the actual land is $1.2 million.