Costa Rican Lifestyle And Property Market An Attractive Prospect For Investors

As the strategy of real estate investment continues to flourish as an increasingly popular wealth building strategy, investors are recognizing the potential of underutilized international destinations such as Costa Rica.

Once little more than a popular tourist destination, Costa Rica is now a property goldmine for real estate investors. Political stability, favorable tax laws, good infrastructure and accessible property values work together to make Costa Rican investment a must for new and experienced investors alike.

Because the potential of Costa Rica has been largely unrealized in decades past, investors are now enjoying 200-300% increases in the value of properties purchased just ten years ago. Despite this dramatic increase, properties are still affordable, with three bedroom homes available for as little as $60,000. In fact, a beachfront property can be attained for as much as 75% less than the price of a comparable property in Florida.

As Costa Rican investment becomes more and more attractive to international investors as a wealth building technique, the local government continues to work to please these foreign visitors and part time residents. Banking is safe and reliable at any of the four government-owned or 23 private banks. Tax laws are simple; property taxes are lower than those in the North American market and business income is taxed after expenses. North Americans can legally enjoy the Costa Rican lifestyle for up to three months, during which time they may generate income from self-employment and own houses, property and vehicles. Attaining citizenship is simple and uncomplicated.

The Costa Rican lifestyle and standard of living is comfortable while the cost of living remains quite low; a family of four with a car and a home can expect to live contentedly for as little as $1,500 US per month. Air service is convenient and reliable, with many direct flights to the US, Canada and Europe daily. Health care plans are available privately or through employers. The health care system in Costa Rica is excellent; complex procedures such as heart and organ transplants are performed routinely and technology is advanced.

In San Jose, property crimes do occur such as break-ins and theft, though violent crime throughout the country is rare. The police are fair and treat foreigners as they treat the locals, who themselves are friendly and welcoming towards international visitors and foreign residents. Costa Rica boasts an excellent public school system with a current literacy rate of over 93%. The drinking water is safe and pasteurized dairy products are available throughout the country.

All of these factors, combined with the favorable weather and year-round vacation atmosphere, serve to endear Costa Rica to property investors and foreign nationals alike. As Costa Rica strives to better its already admirable economy, infrastructure and reputation as an eco-tourism destination, property prices are set to increase dramatically and real estate investment here is an increasingly attractive prospect. Several factors set this country apart from other comparable locations as a desirable place to invest:

• The country has enjoyed centuries of political stability and has no military
• The standard and cost of living are admirable
• Banking, business, tax laws and property ownership are uncomplicated
• Property prices show great potential for continued growth but are not yet over-inflated as in other tropical destinations
• The area is easily accessible year-round by air
• Wealth building investors enjoy a fantastic lifestyle in a location with no weather extremes, a relaxed atmosphere and plenty of activities

As more and more investors realize Costa Rica’s potential as an investment strategy as well as the comforts of the lifestyle enjoyed by residents, property prices will continue to grow steadily. With further planned infrastructure, the time for real estate investment in Costa Rica is today!

by David Lovendahl, Costa Vista Marketing