Investing in Los Sueños Vacation Rentals

Los Sueños is not a typical Costa Rica beach town. It’s a 1,100-acre gated resort with a 200-slip marina, an 18-hole golf course, a private beach club, and a Marriott hotel on-site. That distinction matters for investors because resort infrastructure does something standalone vacation homes can’t: it generates its own demand.

Sport fishing tournaments bring groups who book entire villas for a week. Golfers fly in for long weekends. Families come for spring break and return the following year because the kids remember the pool and the iguanas. This built-in demand, combined with limited supply (roughly 700 total properties across 21 gated communities), creates a rental market with pricing power that most Costa Rica destinations can’t match.

This guide breaks down what Los Sueños rental income actually looks like, what it costs to own here, and how to think about ROI realistically.

What Makes the Resort Work as a Rental Market

Most vacation rental markets depend on one thing: the beach, the surf, the town. Los Sueños has multiple demand drivers working simultaneously.

The Marina. Los Sueños Marina is the largest in Central America. It hosts multiple international sport fishing tournaments each year and draws a consistent crowd of offshore anglers, many of whom book 5–7 night stays and aren’t price-sensitive. Marina-view properties command premium nightly rates.

La Iguana Golf Course. The 18-hole Ted Robinson-designed course winds through tropical forest with ocean views. Golf groups typically book midweek stays during shoulder season, filling gaps that pure beach destinations struggle with.

The Beach Club. Private beach access, pools, restaurant, and event space. For families, this is the anchor amenity. It’s the reason guests with young children choose Los Sueños over renting a house in Jacó, where the beach has stronger currents and no lifeguarded pool area.

The Marriott. Having a branded hotel on-site validates the location for first-time visitors to Costa Rica who want the safety net of a known brand nearby, even if they’re staying in a private rental.

Proximity to SJO. Los Sueños is about 90 minutes from Juan Santamaría International Airport (SJO), the main hub for international flights. That’s close enough for a Friday arrival, a full weekend, and a Monday departure. Compare that to Guanacaste (4–5 hours from SJO) or Santa Teresa (4+ hours plus a ferry).

These overlapping demand sources mean Los Sueños properties don’t rely on a single guest type or a single season.

Rental Income: What the Numbers Actually Look Like

Let’s talk specifics. Rental income in Los Sueños varies significantly by property type, condition, location within the resort, and management quality. Here are realistic ranges based on professionally managed properties.

Nightly Rates

Conservative market-based nightly rate estimates for well-presented, professionally managed properties:

Property Type	Green Season (May–Nov)	High Season (Dec–Apr)
1-bedroom condo	$150–$220	$250–$350
2-bedroom condo	$180–$300	$300–$450
3-bedroom condo/villa	$250–$400	$400–$600
4+ bedroom luxury villa	$600–$1,200	$1,000–$2,000+

These ranges reflect professionally managed properties with quality furnishings, professional photography, and multi-platform distribution (Airbnb, Vrbo, Booking.com, direct booking). Properties with ocean views, recent renovations, or premium locations within the resort can command rates at or above the high end of these ranges. Units with dated interiors, limited views, or basic furnishings will trend toward the lower end.

Occupancy Patterns

Based on market data from comparable Los Sueños properties, occupancy follows Costa Rica’s seasonal patterns but with less dramatic swings than standalone coastal properties:

• High season (December–April): Market data shows 60-70% occupancy for well-managed properties during this period. December holidays and January-March (fishing tournament season) represent the strongest weeks, with many properties fully booked 6-8 weeks in advance.
• Shoulder months (May, June, November): Occupancy typically drops to 40-50%. Golf groups, fishing enthusiasts, and travelers seeking better value keep these months from going completely quiet, particularly for properties with competitive pricing.
• Green season (July–October): Market comps show 35-45% occupancy during this period. This is where professional management and multi-platform marketing make the biggest difference. Families on summer break (July-August) and year-round fishing guests provide base demand.

Annual blended occupancy for comparable professionally managed properties: 45-55%, translating to roughly 165-200 booked nights per year. High-performing properties with strong reviews, professional presentation, and active management can push toward 55-60% annual occupancy.

Gross Annual Revenue Estimates

Based on market comparable data from 61 properties and 733 monthly data points across Los Sueños:

Property Type	Conservative Estimate	Strong Performer
1-bedroom condo	$35,000	$45,000
2-bedroom condo	$40,000	$55,000
3-bedroom condo/villa	$60,000	$80,000
4+ bedroom luxury villa	$150,000	$250,000

These are gross revenue projections before management fees (typically 20-25%), platform commissions (3-15%), cleaning costs, and operating expenses. Net owner income after all fees and costs typically ranges from 40-55% of gross revenue shown here.

The gap between conservative and strong performance comes down to: property condition and furnishings, ocean views vs. garden views, professional photography and listing optimization, review quality and quantity, and availability during peak season weeks (December-March).

HOA and Ownership Costs

Owning in Los Sueños comes with resort-level infrastructure, and that infrastructure isn’t free. Here’s what to budget for.

HOA Fees

HOA fees in Los Sueños vary by community and property size. Condominiums in communities like Veranda, Colina, and Miramar typically run $800–$1,200 per month. Larger villas and custom homes in communities like Vista Tres Bahías or Del Bosque pay $1,200–$2,000+ per month.

What HOA covers:

• 24/7 gated security and resort access control
• Common area maintenance (pools, landscaping, walkways)
• Community pool maintenance (Veranda alone has seven pools)
• Structural insurance for condo buildings
• Road maintenance within the resort

What HOA does not cover:

• Beach Club membership (separate annual fee)
• Marina slip fees (if applicable)
• Individual property insurance (contents, liability)
• Property taxes (municipal)
• Utilities (electricity, water, internet)

Other Annual Costs to Budget

Expense	Estimated Annual Cost
HOA fees	$9,600–$14,400
Property taxes (municipal)	$500–$2,000
Property insurance	$1,200–$3,000
Utilities (electricity, water, internet)	$3,000–$6,000
Beach Club membership	$1,500–$3,000
Furnishing reserves/replacement	$2,000–$5,000
Maintenance and repairs	$2,000–$5,000

Total annual carrying cost for a 2-bedroom condo: roughly $22,000–$35,000, before management fees and platform commissions. This is important to factor into any ROI calculation. Los Sueños is not a low-cost ownership market, but the rental income potential reflects that.

Property Values and Entry Points

Los Sueños property values have been stable to appreciating over the past decade, driven by limited developable land within the resort (most communities are built out) and consistent international demand.

Current Price Ranges

Property Type	Price Range
1-bedroom condo (Veranda)	$400,000–$450,000
2-bedroom condo (Veranda, Colina, Miramar)	$495,000–$600,000
3-bedroom condo/townhome	$700,000–$1,200,000
Custom lots	$600,000–$1,500,000
Luxury villas	$1,200,000–$4,000,000+

The entry point for Los Sueños is a one-bedroom Veranda condo at around $400,000. Only 12 one-bedroom units exist in the entire resort, so they rarely come to market. Two-bedroom condos in the $495,000–$600,000 range are the most common investment entry point and also the most popular rental configuration for couples and small families.

Appreciation

Costa Rica doesn’t have an MLS system with transparent comparable data, so appreciation figures are less precise than you’d find in U.S. markets. That said, Los Sueños properties have generally appreciated 3–5% annually over the past five years, with newer or renovated units outperforming older inventory. The resort’s constrained supply (no new land to develop) supports long-term price stability.

Don’t buy in Los Sueños primarily for appreciation. Buy for rental income and personal use, with appreciation as a bonus.

Who Rents in Los Sueños

Understanding your guest profile matters because it shapes everything from how you furnish the property to how you price it.

Families (40–50% of bookings). The largest segment. Typically booking 2–3 bedroom condos for 5–7 nights during school breaks. They care about pool access, safe walking areas for kids, and proximity to the Beach Club. These guests are reliable and tend to leave properties in good shape.

Sport fishing groups (20–25%). Groups of 3–6, often booking 3–4 bedroom properties for tournament weeks or buddy trips. Higher nightly spend, less price sensitivity, but they tend to book based on marina proximity. If your property has marina views or walkable access to the docks, this segment is valuable.

Golf travelers (10–15%). Midweek and shoulder-season bookings. Often couples or small groups doing a Costa Rica golf trip. La Iguana is the draw, but they’ll also play Cariari and Valle del Sol during their trip. These guests tend to book shorter stays (3–4 nights).

Couples and small groups (15–20%). Anniversary trips, honeymoons, friend getaways. They book across all seasons and are often willing to pay for upgraded properties with views and modern finishes.

The mix shifts seasonally. High season skews toward families and fishing groups. Shoulder season picks up more golf travelers and couples.

Why Professional Management Matters Here

Los Sueños is a competitive rental market. There are roughly 200–300 properties actively renting at any given time, managed by a handful of local management companies. The difference between a well-managed property and a self-managed one can be $15,000–$25,000 in annual revenue.

What professional management should include:

• Multi-platform listing and optimization (Airbnb, Vrbo, Booking.com, direct booking)
• Dynamic pricing that adjusts for season, events, and demand
• Professional photography and listing copywriting
• Guest communication and concierge services
• Cleaning and turnover management
• Maintenance coordination and property inspections
• Owner reporting and financial transparency

Self-managing from abroad is possible but difficult. Time zone differences, the need for a local maintenance contact, and the complexity of managing multiple booking platforms make it a full-time job. Most successful Los Sueños investors treat management fees as a revenue-generating expense, not a cost to minimize. Our guide on choosing a property manager in Costa Rica covers what to look for and what questions to ask before signing a management agreement.

At Nest Stays, we manage vacation rental properties in Los Sueños with a focus on maximizing owner revenue while maintaining property quality. If you’re evaluating management options, learn more about our owner services.

ROI: Realistic Expectations

Here’s a simplified ROI scenario for the most common investment profile: a 2-bedroom condo purchased for $550,000, using conservative market-based revenue projections.

Year 1 Projection

Item	Amount
Gross rental revenue	$47,500
Management fee (20–25%)	($11,000)
Platform commissions (3–15%)	($3,500)
Cleaning costs	($4,500)
HOA fees	($12,000)
Property taxes	($1,000)
Insurance	($2,000)
Utilities	($4,000)
Maintenance/furnishing	($3,000)
Net operating income	$6,500
Net yield on $550,000	1.2%

Five-Year View

The first year typically represents baseline performance. Listing momentum builds over time as reviews accumulate, repeat guests return, and your property climbs in platform search rankings. Well-managed properties often see 10-15% revenue growth by year 2-3 as these factors compound, then stabilize.

Over five years, factoring in modest revenue growth (12% by year 3, stabilizing after) and conservative 3% annual property appreciation:

• Cumulative net rental income (5 years): $40,000–$55,000
• Property appreciation (3% annually on $550,000): ~$87,000
• Total 5-year return: ~$127,000–$142,000, or roughly 23–26% on the initial investment

These projections don’t account for personal use (which has real value but reduces rental income), tax implications (which vary based on your residency and structure), or financing costs if applicable.

The honest takeaway: Los Sueños is not a high-yield cash flow investment in the early years. The returns come from the combination of rental income that offsets carrying costs, significant personal use value, and long-term property appreciation over a 5–10 year hold. Owners expecting strong positive cash flow from year one will be disappointed. Owners viewing it as a lifestyle asset that generates enough rental income to cover most operating costs while appreciating will find the math works better.

Before You Buy

A few practical considerations that aren’t always obvious:

Corporate structure. Most foreign buyers in Costa Rica purchase through a local corporation (S.A. or S.R.L.). This has implications for property transfer, rental income taxation, and estate planning. Learn more about holding companies for Costa Rica property and work with a Costa Rica attorney who specializes in real estate.

Rental regulations. Los Sueños resort has its own rules about short-term rentals, including approved management companies and minimum stay requirements in some communities. Verify these before purchasing, as they affect your rental strategy. Review our complete guide to vacation rental regulations in Costa Rica to understand the compliance requirements.

Furnishing matters more than you think. In a resort with hundreds of competing rentals, interior quality directly impacts nightly rates and occupancy. Budget $30,000–$60,000 for furnishing a 2-bedroom condo to a competitive standard, or negotiate to purchase a turnkey unit with existing rental furniture.

Currency and banking. Rental income is typically collected in USD. Property taxes and some local expenses are in Costa Rican colones. You’ll need a local bank account, which can take time to set up as a non-resident. Plan ahead.

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This guide is for informational purposes only and does not constitute legal or tax advice. Rental income projections are estimates based on market conditions and are not guaranteed. Consult qualified legal, tax, and financial professionals before making investment decisions.

Have questions about managing a property in Los Sueños? Talk to our team about what Nest Stays can do for your investment.