Costa Rica - A country open to foreign investment.
Costa Rica is riding a wave of well deserved popularity as an ecological wonderland. For a country about the same size as the state of West Virginia, it's packed with incredible biological diversity, varied landscapes, and a seemingly endless selection of outdoor diversions, from bird watching and beach trips to rigorous rafting and rain forest hiking trips.
Costa Rica - or "Rich Coast" - is a stunningly beautiful country which is rich in abundant and rare flora and fauna. Although Costa Rica only makes up for 0.1% of the world?s landmass it actually contains 5% of the world?s biodiversity and the government of Costa Rica are aware of their country?s precious state and have made a great deal of land into protected sites and national parks to preserve the natural beauty and unique state of the country.
Costa Rica is bordered by both the Caribbean Sea and the Pacific Ocean and by Nicaragua and Panama. Its economy is mainly driven by agriculture, but recently the attraction of the country and its profile have been promoted extensively and tourism is really taking off now in Costa Rica which in turn encourages and develops foreign exchange which further boosts the economy.
What's So Interesting about Costa Rica Property
In 1997 Costa Rica began emerging from a long period of recession and its recovery has been bolstered and shored up by the Costa Rican government?s commitment to a seven year program of economic expansion through the development of the high tech industry in particular. The government have also implemented a series of attractive taxation incentives as mentioned which are designed to increase FDI.
Anyone considering investing in real estate in Costa Rica and moving to live in the country full time can potentially benefit from these tax breaks which are available to some investors - and they can also benefit from the excellent standards of education, health care and welfare available locally as well as the good standards of living enjoyed across the country.
The Costa Rican government and its laws encourage direct foreign investment. This attitude is shared by the two major political parties and has been implemented actively since the early eighties. Also, the improvement of conditions destined to attract foreign companies has been the trademark for the past 15 years.
An investor interested in commercial Costa Rica property opportunities could tap into the tourist sector. Alternatively a real estate investor could seek to target the growing numbers of visitors seeking quality self catering properties for short term rental or those looking for holiday homes for sale in Costa Rica. The resorts on the Pacific Coast have seen the greatest gains in underlying property value of late and currently offer an investor the best rental yields available in the country as well.
Buying Real Estate in Costa Rica
Costa Rica beach properties are a hot commodity. Over the past 5 years, Costa Rica real estate has average over 10% appreciation per year, and as much as 20% in the last two years. This country boasts some of the loveliest beaches in the world, filled with water sports and other activities for vacationers. You'll pay more to purchase Costa Rica beach front real estate than for other locations on the country, but you'll have fewer weeks each year when your property is vacant, and you'll be able to charge higher rent. With a Costa Rica villa on the beach, you'll be lucky to be able to keep two weeks a year open for your own vacation!
When you're perusing the Costa Rica real estate listings, be sure to take a look at all areas of the country. Both the Pacific and Caribbean sides of the country have lovely beaches. The Northern Region is home to the Arenal volcano, another popular vacation spot, and the very popular vacation and surf spots of Tamarindo and Nosara. The Central Region is home to San Jose, the country's largest city, where you'll find the most theatre and cultural activities. And finally, the South Pacific region, where the breathtaking rain forest mountains meet the ocean. One town in the south Pacific region, the surf town of Domical, is becoming the "Beverly hills of Costa Rica," where Eauropean, American and Candain expats are buying up ocean view lots and houses for vacation homes and permennet residences.
No matter which Costa Rica real estate listings you explore, you're sure to find a potential rental property that will provide you with great income opportunity as well as the best vacations of your life.