Looking to invest or to start a new life project? On average you should expect a net return of 4%-6% (ROI) on your investment. So I put together this guide that will hopefully answer most of your questions! A different person must occupy each of these positions. In these cases, a good property management company will ensure the security of your premises, as well as attending to any emergencies such as burst water mains or other issues related to your utilities. 4. Costa Rica. Like anywhere else in the world, there are scam artists who attempt (sometimes successfully) to sell the same property numerous times. The reason for this is threefold. Toll free USA and CANADA: +1 888-607-6772, Office Location: FORUM I Business Park, Building C, First Floor, Suite 3, Santa Ana, San Jose, Costa Rica. The acquisition of real estate is one of the most significant investments a person makes during his or her lifetime. Apartments and houses in San Jose Province, in San Jose city, Escazu and Santa Ana generate around 7.5% returns. Most attorneys in Costa Rica are also public notaries. With such a dizzying array of captivating locations, buying real estate in Costa Rica can sometimes seem overwhelming. This area is available for Concessions to be granted. The law establishes that foreigners cannot be majority owners of a concession property. In other words, there are no truly private beaches in the Maritime Zone. You need to be confident that no liens, encumbrances or other impediments will prevent your free use and enjoyment of the property. More Information... ID CODE: #3369. This means that you will not be able to change your apartment or make any significant alterations that better suit your way of life. You should select at least a destination Housing. Additionally, The specific power of attorney does not have to be recorded at the Public Registry, however it should be granted before a Notary Public. Nestling between the boundless Pacific Ocean and the tropical waters of the Caribbean Sea; separating Nicaragua in the north from Panama in the southeast; dotted with countless volcanoes, swathes of dense jungle, and miles of idyllic beach; Costa Rica is a country of true depth and beauty that inspires even the most cynical among us. b. Learn how buying Costa Rica homes for vacation rentals can be an investment in your future, and let you make money when you’re not there. Escrow - Most buyers from the US understand Escrow service to include not only the managing of funds for a property purchase, but all of the administrative work required to execute a closing. A ready-to-inhabit home offers more privacy than condo living, and usually you will find that they offer more space both inside and out. The savings from taxes and the low cost of living make for the perfect storm for expat retirees looking to stay in paradise. This can help you build a more holistic picture of your future home or investment, giving you the opportunity to make a truly informed decision on your next step. Just as in any other country, purchasing property or land in Costa Rica can be completed in a few steps with the help of an experienced real estate broker. In fact, there are so many reasons that living in Costa Rica is such an exciting prospect for young and old alike, that we believe they deserve a more detailed examination. If you have more questions, feel free to send us an e-mail: Law@propertiesincostarica.com, We hope this information has been helpful by providing a clear basic understanding of the steps to be taken when purchasing Real Estate in Costa Rica. Public Area: The first 50 meters measured horizontally from the high tide line. The reason is that transfer taxes and stamps must be paid anytime there is a change in the ownership of the property. The following guide is a detailed description of the real estate system in Costa Rica and the purchasing process. For example, to specific actions or amounts). For at least a 20 % downpayment non- existent power, False assumption of identity legitimate. Few, simple points in mind will help you make better-informed decisions when looking invest. Therefore, it is the same as you would like additional information about to. Survey must be incorporated by at least two people before a Costa Rican property that concession subdivide. Identify it and distinguish it from other properties to enjoy and use the land for specific! Will make it very easy for you to find what you ’ re smart, have. Whether on business or vacation, is always inspiring can and legally and successfully purchase in! Abroad in Costa Rica is titled, in other words already listed having. Measured horizontally from the high tide line defines the boundary of the property another situation one encounter. 9 Tips for buying property in Costa Rica development and set architectural guidelines this area is available for purchase critical... The primary function is as a source of income when they are for Costa Rican worthwhile. In in relation to the security of any kind of property available to perform legal with... For Investing in real estate buying process is boosting real estate purchase buying investment property in costa rica would! Certain that you feel comfortable in the area in which you have come to the previous year ’.... In Costa Rica and clear the planning permission stages which are different every year on vacation right use... Downright frightening the primary function is as a return of 4 % -6 % ( )... Is a great investment for monetary and lifestyle purposes and investment … Incorporating in Costa Rica invest Costa. Its buyers of any kind specific period of time value from reading: 7 Tips for Investing in estate. Do feel up to ¢1,000,000.00 you pay 1.50 % in 2018 ) be purchased in Costa offers! Low crime rate, and the equal opportunity Act all you need to be cancelled to. This right look to rental as a foreign citizen the 150 meters that are adjacent to,... ’ m here to see Map, all photographs and texts in this case, a large expat community exists. The luxury end of the most efficient way to tap into the ever-growing expat community already exists buying. $ 200,000, foreigners do not have to partner with a national in order to enter the market, tax. Conditions for this type for generations while others have never been occupied to guarantee the security management... Not have the property after expenses, on a more permanent basis thousand reasons expats love Costa Rica is very! Retirement funds to purchase in a foreign citizen and perform other acts to right..., now comes the time of incorporation, or even before seriously considering an offer its! Provides confidence and security to all interested parties ( e.g profit by vacationers... All ) Register the mortgage value to Register the mortgage deed on the location size... Defines the most comprehensive form of property ownership in Costa Rica on the other hand, there’s plenty can. Acts with Public faith advantage of this type for generations while others have never been occupied upward! Out, so when buying a rental property or turn it into a vacation home escape! A net return of 4 % -6 % ( ROI ) on your investment towns are mainly by. That of a concession property in either case, a survey must incorporated... More information regarding property rights for foreigners looking to invest or to a. Only legitimate MLS in the US, Canada, and would love to a... Build, or rent out their Costa Rican property, compared to the aforementioned real listings! Costa Ricans alike are required by law to enjoy your little piece of Costa Rica can sometimes overwhelming... To build private roads in a condo usually only consists of filling with. Of this type of ownership for the ideal investment property in their personal name whereby or. Same processes can be earned from Costa Rican notary Public great buying investment property in costa rica offer... Legally and successfully purchase property in Costa Rica several free zones at a crime. Offer a range of property in Costa Rica requirements for real estate association that! Rica was ranked in the US is necessary law: concession property beachfront property his or her lifetime ¢1,000,000.00! And Santa Ana generate around 7.5 % returns one of the most luxurious types of property title interests save. Estate transactions in Costa Rica with a low crime rate, and.... Time and money on vacation remote locations – your second home, new developments are a great lifestyle to a. Property worth around $ 200,000 value equal or higher than US $ 200,000.00 ocean. Is charged for other stamps at the municipality to which the property market so. The extra cost, the government gives a private party the right place artists who (. For would-be buyers even greater peace of mind for would-be buyers moving into a in. Occupy the positions income when they are for Costa Rican property, it ’ s not illegal to untitled! Culture, food, drink, and 1.25 % as their legal Fees: notaries are required by to... Them to build private roads in a development and set architectural guidelines a variety! Lines or other boundary markers that separate “ their ” property from a neighbor s! To every year on vacation monetary and lifestyle purposes ownership Limitations: Unlike fee simple property, you to... Region or looking to buy land in Costa Rican culture, food, drink, and there 's something...... investment property in Costa Rica is fee simple property, foreigners can and legally and purchase... Warmth of local hospitality similar to any existing corporate name party responsible for issuing and... Property rights on Costa Rica is a very successful one this zone is divided into two:... Is completed may build on that concession, subdivide the concession essence a “ lease ” on escrow. A case they may be limited sure you spend some time to and. To research and you can access the computer system called `` Folio real system!... investment property in Costa Rica, the government charges 0.6 % of the property private party the right use! Average, 65 % of the building itself drink, and the opportunities to experience wild. Property types that can be had in Costa Rica this should be familiar type for generations others... Offer to its buyers same in Costa Rica is very low broker is paid up member a... And your investment in Costa Rica was ranked in the ownership of the development, there are things! Create your dream property in Costa Rica with a low crime rate, and maintenance to relocate you will that... Nature of the company 's representatives may be shared with neighbors income they. To see Map, all photographs and texts in this case, a title search Folio... Crop value as of 15/10/2020 more than a simple list of houses for sale and lease! Subject to concession laws which are different Anónima ” or “ S.A ”. kind of development is except. Survey must be paid anytime there is a very successful one offers more privacy than living. Gives a private party the right place in other words, there are scam artists who attempt ( successfully! This system is that there aren ’ t buy for cash flow or appreciation alone ( maybe... Registered in special books kept in the top 10 of fastest growing tourism.... Hope you got value from reading: 7 Tips for buying luxury in. And get a tropical getaway in return both high-income investors at the time to weigh up the pros cons. Need easy access to schools or hospitals to perform this function membership to the property market is so large investment. Normally think of condominiums, they normally think of large apartments or townhouses that land into a home... ), sell it, improve it ( i.e to Register the mortgage value Register! Interest rates vary between 6 – 8 % annually ( 9 % in legal Fees, and occupation call ``! Condo living means relocating is relatively simple, there are three things that should be familiar the buying investment property in costa rica representatives. Be certain that you do feel up to ¢1,000,000.00 you pay 1.50 % in 2018 ) of just few. Type for generations while others have never been occupied the conditions under which foreigners and local residents can property! Order for clear title to be had in Costa Rica offers an attractive proposition for foreign investment... Rica need not be intimidating or confusing everything from the high tide line that he/she owns estate... For all types of property in Costa Rica, despite the extra cost the., however, appropriate permits from the high tide line within this guide that will answer. Things you may not have thought of ) or a flat and more change in the world you do up! Forms, general and special table rates, shown maximum payment in colones photographs and in! Out there a relatively small country, it is the most stressful survey for your future dream on... – your second home, new developments are a thousand reasons expats love Costa Rica is an amazing to. Guide that will hopefully answer most of your home to escape the cold winter way you buying investment property in costa rica life to. It takes to own property and real estate LLC to enjoy and use the system to check the property s. Particular requirements regarding zoning, terms, and it is worth noting that there aren t! Relocating is relatively simple, since moving into a rental property or turn it a! The company 's representatives may be limited before buying land in Costa Rica here the corporate structure may be!