Costa Rica Real Estate Overview

Introduction

Virgin tropical rain forests, beautiful beaches, amazing wildlife, and the friendliest people you will ever find are just a few of the reasons that more and more travelers are turning to Costa Rica as their tropical destination. In addition, Costa Rica is the safest country in Central America, where family values and respect are forthright. The only country in Central America with a stable and long standing democracy, Costa Rica eliminated its army in 1949. The government has renounced aggressive militarism in order to use its resources in education, health care and services for the good of the entire population. Costa Rica therefore boasts a higher literacy and life expectancy rate than that of the United States, and is a peaceful progressive country where democracy and stability are hallmarks. Although it is a country of small farms and businesses, there resides an air of prosperity and a feeling of equality among all of its citizens. Because of this peaceful and prosperous atmosphere, many people compare it to the United States of 30 years ago when life was not hurried, not crowded and thus unspoiled.

The Costa Rican government goes to great lengths to encourage investment within its borders. It offers up a host of incentives to investors such as no capital gains taxes on real estate, minimal business taxes, and very low property taxes. As a result, many companies have chosen Costa Rica as an investment site. Companies such as Siemens are leading the way in the implementation of the infrastructure needed to make Costa Rica the “Silicon Valley of the Americas,” and computer giant, Intel has made the central valley of San José its new chip making headquarters. Intel’s investment in Costa Rica represents the largest ever made in a developing country and the results have been tremendous thus far.

Also facilitating business and leisure in Costa Rica is the increased air travel both within the country and internationally. International flights are continually opening everyday and the newly inaugurated International Airport welcomes all visitors.

Costa Rica is one of the best places on earth to live and visit due to the excellent quality of life. This country boasts a fantastic climate, lush natural beauty, and limitless activities to keep busy. Not only does Costa Rica possess Central America’s finest and most advanced telecommunications infrastructure, but housing is affordable and residents benefit from an inexpensive medical system; (thousands of Americans come to Costa Rica each year for treatment, surgery, and recovery as costs are oftentimes less than have of comparable procedures in the USA).

In short, this beautiful country has the warmth and flavor of Mexico-without the anti-Americanism- the physical beauty of Guatemala- without a large military presence- the sophistication of Brazil-without the abject poverty or violent crime, more winter sunshine than Florida or Hawaii, and, presently less people to share it with. The future is clear. As we continue to move towards a more global community, Costa Rica stands out as one of the last unspoiled, pristine locations in the world. At the world summit on sustainable development held this year in South Africa, Costa Rica is being presented to the world as an example on how to encourage healthy growth and economic prosperity while embracing and protecting all the natural beauty which has made this such a popular and unique destination.

The investment atmosphere in Costa Rica is a model for other developing countries to envy. According to a survey in the Robb Report of potential foreign investment/retirement areas, Costa Rica surpasses all countries, including Mexico, Panama, the Caribbean Islands, Puerto Rico, Portugal, Australia, and Greece. It is not surprising that there are more Americans, Canadians, and Europeans living in Costa Rica than any other country in Latin America.

Costa Rica has become a magnet for foreign investment, yet real estate prices are still far below other comparable destinations in the tropics.