Buying Property in Costa Rica
Costa Rica offers tremendous real estate opportunities for both investment property and holiday homes, being located in Central America between Nicaragua to the north and Panama to the south. For decades Costa Rica has stood out for its stability and has benefited from the most developed welfare system in the region. It has no standing army, and its citizens enjoy one of the highest life expectancy levels in the Western hemisphere and better living standards than their war-torn neighbours.
Its area slightly exceeds that of Vermont and New Hampshire combined. It has both Pacific and Caribbean coasts. Cocos Island about 483 km off the Pacific Coast is under Costa Rican sovereignty. Tourism is Costa Rica's main source of foreign exchange. Its tropical forests are home to a profusion of flora and fauna, including 1,000 species of orchid and 850 species of birds, such as macaws and toucans. The Caribbean coast with its swamps and sandy beaches is also a big draw. In short, COSTA RICA is a country of diversity which offers “something for everyone”.
COSTA RICA has long emphasized the development of democracy and respect for human rights. The country's political system has steadily developed, maintaining democratic institutions and an orderly, constitutional scheme for government succession. Also, because Costa Rica has no armed forces, it has avoided military involvement in political affairs, unlike other countries in the region. Costa Rica has achieved a high standard of living, with a per capita income of about U.S. $5,100, and an unemployment rate of 6.6%. The real estate market is always the most sensitive to the economic sector, and this was quickly understood by the COSTA RICANS who ensured that a complete real estate market was available to overseas investors providing the full range of property for sale, off-plan property, investment property, holiday homes and property for rent.
About a quarter of Costa Rica is dedicated to national forests, often adjoining picturesque beaches, which has made the country a popular destination for affluent retirees and eco-tourists. COSTA RICA is now one of the leading emerging markets in the area and much of it is related to the thriving real estate market in investment property, holiday homes and off-plan property. Its record on the environment, human rights, and advocacy of peaceful settlement of disputes give it a weight in world affairs far beyond its size.
Costa Rica has a reputation as one of the most stable, prosperous, and least corrupt Latin American countries. Óscar Arias Sánchez, who became president in 1986, was awarded the Nobel Peace Prize in 1987 for his role in negotiating settlements to both the Nicaraguan and the Salvadoran civil wars.
Because of its dependency in some key areas on US aid and in spite of the steady growth witnessed during the past decade, COSTA RICA continues to offer comparatively low property prices for investors in real estate.
Mild climate and trade winds make neither heating nor cooling necessary, particularly in the highland cities and towns where some 90% of the population lives. A country situated at the portal to the South American “cauldron” is now a fine example of stability and growth for other countries in the zone
