In the last years, an increasing number of American, Canadian and European investors have turned their eyes toward Costa Rica growing Real Estate Market. Forced by their restrictively expensive domestic property markets plus the volatility and insecurity of existing equity markets, investors have found in our country an outstanding alternative for investment.Costa Rica has been by tradition a democratic and peaceful Central America country. Costa Rica is famous for its neutrality over past and present conflicts in the area, recognized by the world community when the President Oscar Arias received the Nobel Peace Price in 1987 and mentioned in the CIA World Fact Book as “a Central America success story”.
Costa Ricans, also known as “ticos” happily boasts that Costa Rica is so peaceful that it does not need an army, and has more teachers than police officers!
Since it is a stable country with extreme natural beauty, more and more people are looking into Costa Rica for a new home or a second home abroad on the growing Costa Rican property market.
Even though Costa Rica current boom on real estate has caused for an inflation of prices, land and house prices in the country are very affordable with prices not even close to those in the United States, Canada or the United Kingdom. Up and above the country strong resale market, currently luxury beachfront developments can start as low as US$80,000 or prices starting just from US$250,000 for detached homes on sizeable plots.
Currently, over 50,000 United States’ citizens live in Costa Rica. Besides, Unites States brokers can easily arrange finance for property purchase in Costa Rica, since the United States government considers this country to be a politically and economically stable country.
Foreigners may find in Costa Rica a way of life very similar to the Western or American standards, which strive on a good quality lifestyle. The people moving into our country enjoy the benefit of good infrastructure, excellent communications and good standard of services. Other advantages for those interested on relocating in Costa Rica are the relatively low cost of living, the excellent health care services up to par with American standards, a high education and literacy standards, very good command of English language by most Costa Ricans and a strong and stable economy based on agriculture, science and technology, and tourism.
An added benefit for investors in real estate in Costa Rica or for those looking to move to the country is the favorable low tax regime the country has adopted, and the fact that property ownership rights in Costa Rica for non-residents or foreigners are unrivalled to those in the rest of the countries of Central and Latin America region.
The boom that Costa Rica is experiencing on the real estate market has not upset the overall picture of the country, as its economy is not reliant exclusively on real state, meaning that it will remain stable and property prices are not artificially talked up.
