• TOP NINE REASONS TO BUY REAL ESTATE IN COSTA RICA
1- LOCATION, LOCATION, LOCATION.
Costa Rica is among the most highly sought-after tourist destinations. Its strategic position in the heart of the Western Hemisphere, infrastructure, access to international markets, labor quality and cost, as well as its government's positive attitude towards foreign investment, make Costa Rica an ideal setting for retiring, investing, or living. Costa Rica's natural and geographical diversity provides sound options for a wide range of luxury, retirement and vacation homes.
2- THE VIEW YOU WERE LOOKING FOR.
Costa Rica covers 19,730 square miles (51,100 km2), and though it accounts for only 0.3 per cent of the world's land area, it contains 6 per cent of its biodiversity. Whether you are looking for an Ocean, City or Mountain View property, there is something for everyone in Costa Rica.
3- OWNERSHIP RIGHTS.
Unlike in Mexico and other countries, the Costa Rican government allows foreign investors to hold fee simple titles. Local banks make financing available to qualified foreign buyers. Title insurance also is available.
4- POLITICAL STABILITY = SAFE INVESTMENT.
Costa Rica has a long democratic and world renowned tradition, which has more than 115 years of history. Such respect for the political and peace processes was evidenced by the abolition of the military in 1948 and acknowledged internationally in 1987 when then-President of the Republic, Oscar Arias Sanchez, was awarded the Nobel Peace Prize.
5- WHEN THE TOURISM INDUSTRY GROWS, SO DOES THE REAL ESTATE INDUSTRY.
Leading brands such as Four Seasons, Saint Regis, and Marriott have chosen Costa Rica for its great potential to attract foreign investment. The U.S. is among the countries most interested in investing in Costa Rica. Tourism is the main economic activity in Costa Rica. The country receives 1.6 million tourists annually, which generates $1.6 billion in earnings.REAL ESTATE INVESTMENT 2005
6- STRATEGIC LOCATION.
(Three hours from the U.S.): Costa Rica is located in the center of the Americas, with two major airports providing excellent international access. Most citizens from the U.S., Canada and countries in Europe do not need a visa. Seventy-six per cent of passengers arriving at the Daniel Oduber Airport in Guanacaste are North American, providing the primary market for developments in the area.
7- COMPETITIVE CONSTRUCTION COSTS. It's relatively easy to develop in Costa Rica. A good work force comes at a fairly low cost compared to that of the U.S. A home costing $100 per square foot to build in Costa Rica could cost $250 x sq.ft (Columbus), $350x sq.ft (Dallas or Atlanta), or even more than $500x sq. ft (San Francisco, Los Angeles, or Miami).
8- LOW TAXES.
Under Costa Rican tax law, you must declare the value of your home to the Costa Rican Municipal Government every five years. An annual flat rate of 0.25 percent is charged, calculated on the declared land and house value combined. Owners of homes within the Maritime Zone or of concessions near national parks pay property tax only on the value of the house, not the land itself. For example, property taxes on a home in Dominical outside the Maritime Zone, with a combined land and house value of $300,000, would be approximately $750.
9- EXCELLENT QUALITY OF LIFE.
Stability and economic growth reflect relevant achievements. Among them is the reduction of poverty from 40 percent to 20 percent over the last 20 years. In addition, Costa Rica has achieved the highest education and health levels in Latin America and has been able to provide the population with wide access to health services, social security, potable water, and basic public services Costa Rica’s literacy rate of 95.8 percent is comparable even to those of highly developed countries, and the workforce is becoming increasingly bilingual.
