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 and 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 (51,000 km2), and though it accounts for only 0.3 percent of the world’s land area, it contains 6% of its biodiversity. Whether you are looking for an ocean, city or mountain view, 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 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 political and peace processes was evidenced by the abolition of the military in 1948 and acknowledge internationally in 1987 when then-President of the Republic, Oscar Arias Sanchez, was awarded the Nobel Peace Price.
Leading brands such as Four Seasons, Saint Regis, and Marriott have chose 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 around 1.6 million tourists annually, which generates around $1.6 billion in earnings.
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 the 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. Construction costs in the U.S. could be more than 50% of those in Costa Rica. in some expensive areas the difference could be well over 100%.
8. LOW TAXES
Under Costa Rican tax law, you must decalre the value of your home to the Costa Rican Municipal Government every five years. An annnual rate starting as low as 0.25% is charged calculated on the declared land and house values combined. Owners of homes within the Maritime Zone or of concessions near the 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 (Southern Pacific) 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 social achievements. Among them is the reduction of poverty from 40% to 20% 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, security, potable water, and basic public services. Costa Rica’s literacy rate of 95.8 per cent is comparable even to those of highly developed countries, and the workforce is becoming increasingly bilingual.
10. YOU HAVE A PERFECT PARTNER IN COSTA RICA
Coldwell Banker offices in the country can guide you with confidence to your dream investment in Costa Rica. We provide clients interested in Costa Rica real estate with the resources they need to insure that the process of investing in or purchasing land or a home runs as smoothly as it would in their home country.