Karol Barboza: Fostering Sustainable & Ethical Growth in Costa Rican Real Estate

Age has long been treated as an invisible fence around women's ambitions. Society often expects them to shrink their dreams to fit familiar timelines and well-behaved milestones. For Karol Barboza, it wasn't a challenge; it was her launchpad into the world of real estate as she refused to accept that she was "too young" for responsibility.

Growing up in a business-driven family in Costa Rica, her ambition stretched far beyond her age. She set out to carve her own professional identity while studying engineering in San Jose. At twenty, she stepped into a development firm led by a Californian investor who initially doubted her youth and readiness for responsibility.

Her response was simple and determined: she would prove herself through hard work.

Guided by the values instilled by her parents' integrity, honesty, and persever­ance, Karol quickly discovered a passion that extended beyond engineering. She be­came deeply engaged with the transformative role real estate plays in shaping com­munities, lifestyles, and investment opportunities.

Over time, this passion evolved into a commitment to sustainable development that preserves Costa Rica’s natural beauty while unlocking its economic potential.

More than two decades later, as the Founder & CEO of Tropical Investments, she spearheads development of projects that are profitable, environmentally conscious, and culturally respectful. By providing well-intentioned and well-informed advisory services, Karol supports clients through their investment journey in the Costa Rican real estate sector.

Having been in the Costa Rican real estate industry for over two decades, what key areas of specialization have you developed?

I began my career on the development side as an engineer, which taught me early on. How to coordinate diverse professionals to deliver a finished property. I was responsible for transforming raw land into a market-ready product, managing everything from topographers and architects to environmental consultants and realtors.

Curiosity pushed me beyond engineering into the financial side of the business, where I trained in finance for non-financial managers and gained hands-on exposure to investment decisions. I later studied law to fully understand the regulatory landscape in Costa Rica, especially the legal complexities of development and real estate.

This multidisciplinary background allows my team and me at Tropical Investments to guide clients through every stage of a project, from feasibility and permitting to design, construction, and sales.

I focus on luxury coastal real estate and sustainable developments that connect community, lifestyle, and long-term value. Our role is to bridge local expertise with international investors, always grounded in transparency and responsible growth.

Be brave, believe in yourself, and take action. Pursue what you love with passion, and success will follow

What inspired the establishment of Tropical Investments, and how does its core vision, strategic focus, and expertise align with the evolving market trends shaping Costa Rica’s real estate landscape?

I created Tropical Investments to protect our clients, advise them honestly, and always act in their best interest. At the same time, I saw an opportunity to redefine real estate in Costa Rica from a purely transactional to a transformational approach. Our goal is to develop projects that are profitable, environmentally conscious, and culturally respectful.

We unite a multidisciplinary team of real estate experts, architects, engineers, and legal advisors under one vision: to create properties and communities that embody the essence of Costa Rica while attracting global investors seeking authenticity and long-term value. My vision is for Tropical Investments to be recognized as a benchmark in sustainable luxury development, a brand that represents Costa Rica’s authenticity, natural beauty, and smart investment opportunities.

We are aligning with global trends like branded res­idences, wellness-oriented communities, regenerative tourism, and eco-smart design, all areas where Costa Rica stands out. We are also leveraging technology and data analytics to give investors greater transparency and confidence as they engage in our market.

As the Founder, what key roles and responsibilities do you shoulder at Tropical Investments? What are your current focus areas in terms of driving growth for the company?

When I founded Tropical Investments, my goal was never only to sell properties. I wanted to provide true advisory services that help investors make confident and well-informed decisions in Costa Rica. We are a small, boutique team, not an international franchise, yet we consistently deliver top-tier results.

Our independence gives us agility, and our expertise has positioned us to broker some of the most high-value coastal properties in the country.

As CEO and Managing Broker, I guide our strategy, partnerships, and investor relationships, ensuring that every project reflects our core values: integrity, transparency, and excellence.

Today, we are strengthening alliances across the Americas, expanding our work in branded residences, and leading major mixed-use developments in the southern zone. I am also committed to mentoring women in real estate so more female leaders can shape the future of development and investment in Costa Rica.

Every business role comes with its own set of challenges. What are some of the most challenging aspects of being a female leader in the Costa Rican real estate landscape?

The real estate industry in Costa Rica has long been male-dominated. Early in my career, I constantly had to prove my knowledge, leadership, and ability to deliver. Often, people assumed I was just an assistant or secretary, but I focused on results and let my work speak for itself.

When I moved into sales, I initially worried that international clients might prefer dealing with foreign brokers. Instead, they valued that I am Costa Rican, deeply familiar with the land and regulations, and committed to protecting their investments.

These challenges shaped me, building resilience, empathy, and purpose. Today, I see my role not just as a developer and investor but as a bridge-builder, demonstrating that women can lead, make bold decisions, and redefine the future of real estate in Costa Rica. I may be small in stature, but I bring strength, expertise, and unwavering dedication.

What is your leadership philosophy? How do you approach challenges and decision-making to lead effectively?

My goal has always been to provide top-tier service to our clients. I believe women bring a unique “hands-on” approach, a combination of care, protection, and attention to detail that goes beyond delegation. This mindset sets us apart in the market, allowing us to safeguard investors, clients, and sellers while delivering the best results.

Beyond real estate, our work contributes to Costa Rica’s economy, creates jobs, and empowers women. I take pride in mentoring and training women in the industry, helping them develop the skills and knowledge to excel in real estate careers.

From supporting a lawyer to expand her practice locally to building a team of talented women, we strive to offer exceptional service while fostering female leadership. Our vision is clear: combine expertise, integrity, and care to serve both local and international clients while strengthening Costa Rica’s real estate ecosystem.

How do you see the Costa Rican real estate market evolving in the next few years, and what trends is Tropical Investments aligning with to stay relevant and grow?

I see the Costa Rican real estate market continuing to grow. Our country is uniquely privileged; located outside hurricane zones, blessed with year-round tropical weather, abundant natural resources, and fertile land. Costa Rica’s stability, friendly people, and democratic system make it very attractive to international investors.

Land here is limited, so opportunities, especially in the luxury segment, will only become scarcer and more valuable. Central America is seeing an influx of wealthy individuals, with Costa Rica at the top of their list, which reinforces the strength of our market.

For Tropical Investments, staying relevant means preserving our boutique approach. We focus on quality over volume, offering personalized advisory services that guide investors safely and strategically. Our goal is to deliver exceptional results while maintaining the essence of what makes Costa Rica and our firm truly special.

Looking back at your journey, which professional milestones stand out? What has been your ‘success mantra’?

Being the CEO and founder of my own firm in a male-dominated industry is one of my greatest achievements, with keeping it local, women-owned, and operated. It reflects a lifetime of hard work, academic training, and hands-on professional experience.

I am also proud of building a multidisciplinary group of companies spanning real estate brokerage, development consulting, and technical services, and of leading large-scale master plans that integrate ar­chitecture, community, and environmental responsi­bility.

My guiding principle has always been simple: honesty and hard work yield results. Over time, I have learned that integrity attracts the right people, and when passion and purpose align, success naturally follows.

Karol Barboza, Founder and CEO, Tropical Investments

Karol Barboza is the Founder and CEO of Tropical Investments, a boutique real estate brokerage in Costa Rica specializing in luxury coastal properties, mixed-use developments, and sustainable residential projects. With a background in engineering, finance, and law, she brings a multidisciplinary perspective to every project, combining technical expertise with strategic advisory for both local and international investors.