Why Costa Rica?An Overview
Costa Rica has been called "the Jewel of Central America" and considered a top location in eco-tourism. Natural wonders abound on it's unspoiled beaches, rain forests, mountains and rivers. With an average temperature of between 71 and 91 degrees year it is tropical and sub tropical. The quality of life is rated as one of the highest in the western hemisphere. Astounding beauty, pure air and water, abundant hydro electric energy, and a stable democratic society all contribute to the high ranks of this tiny nation, by international travelers. Americans need only a passport to visit Costa Rica and there are a number of ways to be granted residency, without giving up your US Passport Reference
Significant Real Estate Appreciation
High Demand for Real Estate
Foreigner Friendly Laws and Practices
Quality of Living
Nicoya Pennisula Map
General InfoCosta Rica Statistics Link
Significant Real Estate AppreciationIn the past decade savvy foreign investors have been making triple digit profits in the Costa Rican real estate market. The property boom continues to be on the rise and all indicators point to the trend continuing. Reference
Buying property in Costa Rica now can be compared to buying in Spain or Hawaii in the 1960's or early 1970's because of the low prices and high potential. Reference The New York Times reported in 2006 that many properties quadrupled in value from 2003 to 2006. Reference There are still underdeveloped and undervalued land for those seeking a solid investment in a beautiful and safe country.
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High Demand for Real EstateThere is a high demand for property in Costa Rica. People want access to affordable beach view property and Costa Rica delivers. There has been an increasing influx of American baby boomers buying vacation homes and choosing to retire in Costa Rica. Within a few hours flight and at less than 70 % of what it would cost in the US, Costa Rica is ideal.
Now the international community is following suit there is an increasing round of multi-national buyers and investors. In particular Costa Rica has been gaining popularity with the British. To meet increasing demand, in May 2007 London began offering direct non-stop flights to Costa Rica. This new flight will dramatically increase the numbers of potential British buyers who are famously hungry for international investment opportunities and holiday homes in the sun. Reference In addition CNN listed Costa Rica as one of the hottest markets for second home buyers in 2007.
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Unparalleled BeautyThe small republic of Costa Rica holds unparalleled beauty and biodiversity. In a days journey it is possible to travel from the palm lined beaches of the Caribbean Coast through dense cloud forests, tropical dry woodland, pass through two mountain ranges featuring active and dormant volcanoes and end at the breathtaking Pacific Coast. Costa Rica protects its natural treasures by designating 27% of land to the natural park system, the highest portion protected by any country. Reference
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Foreigner Friendly Laws and PracticesThe Costa Rican government actively promotes foreign investment by instituting the following practices:
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AffordabilityThe cost of living is significantly lower in Costa Rica than the United States. According to the purchase-power- parity data released by the IMF, in Costa Rica $1,000 US dollars is equal to more than $2,000 in purchasing power. Keep in mind housing, building costs, utilities, telephone, electricity, and water are a fraction of the cost in U.S. Services such as house cleaning, landscaping, and handyman, are readily available by locals and cost around $2 an hour.
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Quality of LivingPolitical Stability and Neutrality: Costa Rica has not had a standing army since 1948 and has stayed neutral through all international conflicts. "Costa Rica is a democratic republic with a strong constitution. It is seen as one of the most stable countries in Latin America." Reference This affords Costa Rica the opportunity to use its resources for the enrichment of her people and the preservation of her land. Costa Ricans enjoy government funded health care and education which has lead to healthy and well educated populace with nearly a 97% literacy rate.
Health and Safety: "You are unlikely to encounter any serious diseases in Costa Rica. Sanitary standards are high and the health system is excellent." Reference
Local People: "The tico [local Costa Rican] ideal is that of a very friendly, helpful, laid back, unhurried, educated and environmentally aware people, with little worry for deadlines or the "normal" stresses of United States life." Reference
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Booming EconomyCosta Rica's economy has steadily been gaining strength since 1997 (Amberalnd.com) In conjunction with the strong economy tourism is on the rise. Last year Costa Rica hosted 1.7 million visitors. The tourism bureau development predicts that this number will nearly triple by 2010 (Pacificlots.com, 2007). The tourism industry and infrastructure is growing to meet demand. Costa Rica now offers world-class resorts, casinos, spas, and golf courses. Recently Four Seasons opened a 5-star 2,300 acre resort followed by Marriot, the Hyatt, and The Walt Disney Co. Numerous upscale vacation homes, retirement communities, and resorts are in the works. While the hospitality and real estate markets have solidified a strong base there is still plenty of room for growth.
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