Are you buying property in Costa Rica? Want to know about prices and risks of buying property in Costa Rica? Our guide to buying real estate in Costa Rica gives you the facts & information you want to know.
Costa Rica, located in Central America and sandwiched between Nicaragua to the north and Panama to the south, is fast becoming an international hotspot for buying property. The reasons for buying property in Costa Rica are numerous and varied. Firstly, there is the incredible natural beauty which includes the breath taking golden beaches and clear blue waters that can be found all along the east and west coast of Costa Rica. As much as one fourth of the entire surface area of Costa Rica is taken up by protected national parks and nature reserves with some of the best wildlife spotting to be had in the world. Even aside from specially protected natural areas, much of Costa Rica is taken up by green areas and agricultural plantations, all of which adds to the laid back and natural atmosphere of Costa Rica.
Buying property in Costa Rica also makes excellent sense from both a business and economic point of view. By all accounts property prices in Costa Rica still look set to rise for the foreseeable future and there are plenty of bargains still to be had in Costa Rica if you are considering buying property for either investment of personal purposes. In fact, there is a growing trend of baby boomers from the US who are buying property in Costa Rica in order to live here after their retirement.
Costa Rica is one of the few countries in Central America that can truly call itself a democracy with powerful independent institutions to ensure the safety of democracy in Costa Rica in the future. Foreigners buying property in Costa Rica are protected by the constitution which allows the foreign ownership of property and in general property taxes, as well as most other taxes in Costa Rica, are low.
According to many property analysts, the real estate market in Costa Rica is among the top five best growth markets in the world. Costa Rica properties are becoming more popular among the people living in different parts of the world mainly due to the competitive property prices and natural beauty. Despite being so popular, most property in Costa Rica is affordable in comparison to property prices in the US. The main reason behind this is the lower population and also the largely agricultural economy of Costa Rica.