| Costa Rica is one of the most popular countries in Latin
America for foreign real estate investment. And it easy to see why
– gorgeous landscapes, perfect weather, friendly culture, lower cost of living
and tax advantages all make for tremendous opportunities. General Background – Costa Rica is the oldest democracy in Latin America, since 1949. The country has no
standing military and chooses instead to devote the majority of its resources
to healthcare and education, which has led to a 95% literacy rate and nearly
50% of population being bilingual – usually Spanish and English. Weather and Landscapes – Costa Rica boasts 12 different microclimates
ranging from 70°F in the Central Valley to lower 80’s in the Caribbean
and high 80’s in the Northern Pacific. Depending on your interests – be they
investment, retirement, vacation property etc. – Costa Rica has real estate options
for all. Both the Pacific and Caribbean coasts
offer breathtaking beaches surrounded by cliffs, waterfalls, and tropical
forests and, best of all, no hurricanes! The interior of Costa Rica is
equally beautiful and often preferred for its temperate climate. From rain and
cloud forests, to mountain ranges, plantations, rivers, lakes and volcanoes
there is stunning natural beauty at every corner. In fact, Costa Rica was
recently described by National Geographic as having the most perfect weather in
the world. It’s beautiful! Cost of Living – Although Costa Rica is the most expensive country in
Central America, the cost of living is much cheaper than in the U.S., Canada
or Western Europe. From housing and food
to entertainment and real estate, prices here generally cost less, making a
slice of paradise for numerous foreigners a very real possibility! Taxes – Taxes are here to stay but they
are also less expensive than you are probably used to paying. Regarding Costa Rica real estate, there are two forms of taxes the Municipal and the Real Estate.
However, even combined these taxes are considerably less that what North
Americans and Europeans are accustomed to. There are NO capital gains taxes on
any profit you make from selling a property as long as it is done from a
personal not business perspective. As properties continually appreciate, you
have to celebrate this fact! Future Outlook – Very Good. Nearly 35%
of the country is governmentally protected for eco-tourism and national parks.
In addition, a majority of the available countryside has been purchased leaving
only a small percentage left. Because the remaining properties are limited,
prices for land are steadily appreciating year after year! * Always use the services of a trusted,
qualified and accredited lawyer and real estate professional when purchasing a
property in Costa Rica.
Make sure to do your homework! |