Costa Rica is a beautiful country, rich in culture, exotic nature, great weather and filled with friendly people who have placed quality of life over quantity of possessions. Not to mention, it has some of the most spectacular beachfront properties in the world! This is an idyllic combination for a second home, retirement opportunity or life change! On the practical side of things, Costa Rica still has homes well below the North American value, though no longer a complete bargain. Things started growing rather quickly, increased market prices considerably with the financial crisis the prices came down again back to the prices available back in 2000 to 2004.
Another economic upswing to buying in Costa Rica is the incredibly low property tax and insurance as construction quality. Buying a home in Costa Rica is likely to yield a steady property appreciation as the market is not as volatile as other markets add the fact that no capital gain taxes apply for one single property and this becomes an interesting mid to long term investment. At the moment, if you sell your home you will receive the original cost of the property plus the appreciated value without paying any taxes on it
Buying a home, condo or other type of property in Costa Rica is as safe as it can get if you know what you are doing or retain the services of prestigious professionals. We strongly recommend you do not make any purchase directly or with unaffiliated realtors. The real estate market in Costa Rica does not use the Multiple Listing Service (MLS), so it is imperative you work with someone who knows the area, the current market trends and closing prices, Costa Rican law, the details on the contracts and the culture of the area. We also recommend you only work with someone who is affiliated with the CCCBR or a Realtor®. To the best of our knowledge we have not heard of any buyers having problems when buying property through an affiliated realtor. Buying in Costa Rica is a very safe investment: real estate law is very straightforward, the financial institutions are heavily regulated, our democracy without an army generates great political stability and our mix of services and products including high technology are the pillars to a healthy economy.
