Costa Rica Real Estate Investment Properties for Sale
World renowned for its pristine beaches and lush habitat, real estate in Costa Rica has become increasingly popular for homebuyers and investors due to its stability and friendly foreign ownership policies (fee simple). Propelled by a decade of robust tourism growth, real estate demand and prices have climbed steadily, but are still at a significant discount to those offered in other beautiful, politically stable countries around the world, like the United States and the Caribbean.
Costa Rica is often called the "Switzerland of the Americas," largely due to its stable government, which abolished the army in 1948. This helped pave the way for Costa Rica's current desirable investment status that it boasts today, as the government allocated would-be military dollars towards education, infrastructure and health care. Today, Costa Rica has one of the highest literacy rates in the Americas and the best infrastructure of any Central American or Caribbean country. Furthermore, Costa Rica’s enlightened approach towards conservation, with over 25% of the country’s landscape proclaimed as national wildlife reserve (the highest in the world on a percentage basis), provides the framework for generations to come and enjoy this Tropical Paradise.
If you want more information on Costa Rica real estate, please fill out the form below or call us (412)253-0841 to speak directly at to an agent.
Costa Rica’s fee simple real estate ownership, similar to that of the United States and Canada, guarantees foreign investors their land rights. All individuals and private companies, local or foreign, can own land and property in Costa Rica, unlike in other countries such as Mexico. Few restrictions apply. The most common and the most significant of which are physical occupancy and a 50-meter limit from the beach on oceanfront property. The involvement of private sector title companies has furthered Costa Rica real estate’s status the most attractive and secure investment in the Americas.
Property taxes in Costa Rica are significantly lower than in the United States. They are currently set at 0.25% of the registered property value.
Costa Ricans have enjoyed a peaceful and democratic way of life since 1889, which clearly sets it apart from the other countries in the region. In 1948, the government abolished the army and it is now prohibited by the Costa Rican Constitution. Perpetual neutrality was proclaimed in 1983. There are three branches of government; the President (Executive) who is elected by popular vote to a four-year term, Congress which is also elected by popular vote to four-year terms, and the Supreme Court. Most recently, former president and Nobel Peace Prize winner for his negotiation efforts through Central America, Dr. Oscar Arias, was re-elected President (term began in May 2006).
The government's receptiveness toward new business ventures and excellent incentive plans has lured a growing number of multinational corporations to the country. Within recent years, the likes of Intel, Micro Technologies, EMC, Panasonic, Hitachi, Siemens, Alcoa, Baxter, Abbott Labs, Boston Scientific, P&G, L.L. Bean, Merck, Pfizer, Sara Lee, Rawlings, Hewlett-Packard, Walmart (subsidiary) and Levi Strauss have established operations in Costa Rica.
Tourism growth has been phenomenonal over the short and long run on both a headcount and dollar revenue basis. In 2005 alone, tourism generated $1.6B in foreign exchange inflows, and represents the largest service sector industry in the country. According to the Costa Rican Tourism Institute (ICT), during 2005 more than 1,671,000 (+15.3%) tourists entered the country, up from 1,230,000 and 1,450,000 (+17.3%) in 2003 and 2004, respectively. Further, the ICT is projecting 4,000,000 annual visitors by 2012, which represents a 10-year annualized compounded growth of ~27%.
* Full member of the WTO.
* Costa Rican products enter the United States duty-free under the CBI.
* Free Trade Agreement with Mexico.
* Full member of the Central American Common Market.
* Active involvement in the implementation of the Free Trade Area of the Americas.
Adults and children must display a valid passport to enter Costa Rica— no tourist card is needed. North American visitors may stay for up to 90 days—after which you must leave the country for 72 hours. You may then return for another 90 days. There are several ways to obtain residency in Costa Rica, which then eliminates the 90-day rule
Costa Rica has international ports on both coasts; air, ocean, and freight transportation services. Costa Rica is only a 3-hour flight from many major U.S. cities (Atlanta, Los Angeles, Houston, Charlotte, Miami, Orlando, etc.) and only four hours from Washington DC and New York. Many of these flights are non-stop, making a weekend trip to Costa Rica a possibility!
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