Costa Rica now boasts a thriving real estate market today and investors are taking this opportunity to invest and find quick returns on real estate in a time when the U.S. economy is failing. The economic problems in the United States seem to show little effect on the market in Costa Rica, and the country continues to see a real estate and economic boom that has astounded many.

Costa Rica has recent shown itself to be the investors’ paradise and a great place for those wanting to invest in their own piece of paradise. Regardless of the falling economy in the United States, the real estate market in Costa Rica is flourishing; in fact, such a real estate boom has not been seen abroad in some time. Not only is the market thriving, but as Costa Rica continues to be an extremely popular tourist destination, more and more people are considering investments in this Central American country. Even though the prices are on the rise, investors and retirees alike now have the chance to cash in on this gold mine of economic prosperity.

The real estate market, and even the entire U.S. economy is struggling right now, leading to serious real estate investors looking for opportunities for investing abroad, since the U.S. real estate market appears to be so shaky. While some may think that the serious decline in the United States would affect the real estate boom in Costa Rica, no such thing has occurred, with prices continuing to soar and the market continuing to rise on in this small country unaffected. For those looking for an investment paradise to sink their money in abroad, Costa Rica has truly become their investment paradise, with prices continuing to climb, bringing investors excellent profits.

Of course not only does Costa Rica offer great gain to investors, but a tropical paradise with reasonable prices to vacationers and retirees. In fact, various retirees from countries around the world are choosing this country as a place for retirement as they see that the investment is well worth it and better then opportunities offered in their own countries.

To learn more about the thriving Costa Rica real estate, investment opportunities, and more, visit www.gapinvestors.com

Costa Rica has recently caught many eyes as a hot tourist spot but also as a great place to purchase real estate. With so much public attention and a vast number of tourists visiting Costa Rica every year, the country offers a great investment environment for real estate. Below are seven great reasons to invest in Costa Rica Real Estate.

1. Stable Government:

Costa Rica is a democratic republic with three branches of government and has enjoyed one of the most democratic governments in Latin America. As of 1948, Costa Rica abolished it’s army and since 1949 has enjoyed its peaceful democratic existence, often being referred to as the “Switzerland of Central America”. The government is one of the people and one that very much sees the value of tourism. Over the past few years the government has incentivized foreigners to come and retire in Costa Rica. Stable government ensures that the money you put into your property is safe. Political turmoil will never be a reason for illiquidity in your Costa Rican investment and also provides reason why Costa Rica is a great place to buy. There are many other locations around the world that investors think of to go and buy, but stability is very important and should play a huge factor in anyone’s investment decisions.

2. Stable Currency:

Investors want to know if their money is safe in Costa Rica
Stability of the government has helped to maintain a solid and stable currency.
The Costa Rican colon, also denoted as CRC is the official currency of Costa Rica. (Currently $1 USD = 516.245 CRC). Colones come in notes of 1,000 up to 10,000.
US Dollars are also accepted as legal tender in Costa Rica. Both are widely accepted and exchanged throughout the country with approximately 90% of the places of business in the country accepting the US Dollar.

3. Tax Incentives:

This seems to be the one everyone loves! As mentioned earlier the Costa Rican government has created one of the most attractive investment environments in Latin America.

Capital Gains Tax= 0% in Costa Rica. The capital gains taxes are exempt for a business if the money is derived from an activity that is not the normal course of business for the company (This exemption is established through the use of SA, or Sociedad Anonima). Property Taxes in Costa Rica = .25%. This rate is significantly lower than most places in the world. As a result people are buying in Costa Rica which increases demand and ultimately increases value. There are not many places where you can buy a piece of property that has incredible appreciation potential with such low holding costs.

Corporate Tax: The Sociedad Anonima (S.A.)
These forms of corporate structures allow owners of property to keep their names away from the corporations they own (literally translates as “anonymous society”). Ninety percent of all property in Costa Rica is purchased through these S.A.’s. When a property owner purchases property through these S.A.’s they use a shareholder’s loan to fund the purchase. Rental income generated is taken out of the corporation as dividend income and deducted against the initial investment and thus no taxes are paid.

Income Tax: Only income generated in Costa Rica is subject to income tax
Costa Rica offers large amounts of income to be deductible and free from any tax

**all tax information should be verified by independent tax professionals **

4. Proximity to Major U.S. Cities:

When investigating vacation destinations and environments for second homes or investment property, it is important to factor travel times to the destination. Costa Rica’s proximity to major US Cities gives even more reason why investors are buying property in Costa Rica. Great tourist destinations need to be close and easily accessible.

Major US Carriers offer direct flights to and from Costa Rica from the following international airports (3-5 hour flight times)
-Miami
-Houston
-Atlanta
-Dallas
-Chicago
-New York
-Los Angeles
-Toronto

5. Healthy Local Economy:

For baby boomers and entrepreneurs, spiraling costs of living abroad, oppressive taxes and government regulation in the US have placed Costa Rica high atop the list of places to retire without sacrificing standard of living. This is what savvy investors are looking for!

6. No Ownership Restrictions:

Foreign Ownership is promoted in the country of Costa Rica. In many foreign countries fee simple title is only available to locals and without titled ownership your investments can be at great risk. All foreigners enjoy the same rights as Costa Ricans when it comes to real estate ownership. Titled, fee simple properties are all registered in the National Registry of Costa Rica properly protecting your ownership rights.

7. Excellent Lending market:

Prior to 2006, there was no market for lending in Costa Rica and investors bought and sold property on a cash basis. With the recent surge by worldwide and US lenders as well as the strengthening of the Costa Rican market, financing at reasonable rates is now an available option. This addition to the real estate industry has made it possible for many more investors to buy property in Costa Rica and will only increase the demand over time.

As you can see there are many great reasons to invest in Costa Rica. Many people believe that it is too late to make any money. This is not the case! The time is now to invest in this beautiful country and incredible vacation spot.

Costa rica real estate has been a hot market for quite some time. It’s thriving tourist industry brings millions of people here every year from all over the globe. As a result, thousands of people foreignors are taking advantage of Costa Rica’s foreign friendly investment policies. Well the bubble is about to burst with the slow of the US Economy and Real Estate Prices are finally stabilizing. However, there are still many areas that are just too expensive for most of the middle class. There’s of course a large amount of the Baby Boomers that want to retire in quiet safe communities and enjoy the wonders of nature that Costa Rica offers. Many baby boomers are quickly discouraged about making Costa Rica their final retirement location when the find out how much “overdeveloping” is happening in these areas. There are also many people, foreign and local, looking to make a quick few hundred thousand dollars off of naive foreign investors. Many developers have no experience and can’t even speak the language let alone understand the laws of the country. Yet still many boomer’s purchase for the sake of investment. So, will Costa Rica be the next big speculation market? Or will more people follow the example of a long term developer here in Costa Rica. One Developer, Grand View Estates Costa Rica, has put all it’s effort to keep low prices while still offering the amenities that other developers do not offer. William Ogen is in charge of the 640 acre development where less than 40% will actually be developed leaving more than 340 acres of untouched land filled with toucans, monkeys, sloths, rivers and waterfalls for the entire community to enjoy. This development is also adjacent to an adventure park and has areas on one end of the development to train and stable horses. Grand View Estates is a unique land development in many ways. One of my favorites are the large lot sizes (1-5 acres) where you can only build on 15% of the lot making it impossible for the community to become over crowded. The other unique bonus that Grand View Estates offers is the fact that the security, roads, water, irrigation, electricity, gardening services etc. is all in place. There’s even a community center that you can take a dip with the owner and employees while picking out your ideal property……Yes, there are many places that have this same thing…….with lot prices starting at ridiculous prices and small lots. These lots range from $55,000.00 to $160,000.00! Their idea was very simple……..start out slow and get your local permits first. Then start construction and spend as little money as possible on advertising. One other tricks Mr. Ogen has managed to accomplish is the fact that he single handedly created this wonderful community which I believe is and will continue to be the foundation of his success. Grand View Estates really does have what nobody else can offer at such affordable prices.

Guanacaste, the jungle-covered coastline of northwest Costa Rica, is attracting some heavy hitters. AOL founder Steve Case is developing a resort in the province, and there are projects in the works anchored by Ritz Carlton and JW Marriott hotels.

Last year Mel Gibson reportedly paid $25.8 million (€17.6 million) for a 163-hectare (402 acre) ranch on the coast, adding a little extra celebrity luster.

The latest residential project to come online in Guanacaste is the Hyatt Regency Azulera Resort & Spa, an eco-resort with Michael Graves-designed condo units and a Greg Norman golf course. The first phase of 64 units went on sale last month, priced between $780,000 and $3.9 million (€537,400 to €2.7 million).

Another 800 to 1000 residential units are planned for the property, according to Anil Kothari, founder of Global Financial Group, the New Jersey-based developer. Condos ranging from 960- to 5,000-square-feet (89 to 465 square meters), will include private terraces with plunge pools and ocean views.

Overlooking Brasilito Bay on the Pacific Coast, the $300 million project will eventually cover 557 acres (225 hectares), including a spa and retail space, in addition to the golf course.

Posted by Kevin Brass in General, News

Everywhere you turn, you bump into someone who has either been to Costa Rica or at the least, knows someone who has bought property there.

All of the developments and real estate salesmen throughout Costa Rica will tell you that “CNBC says that Costa Rica is the hottest real estate market in the world today.”

Is land in Costa Rica a good thing, and particularly, “is property in the literally 100s of developments throughout Costa Rica as good as everyone says?”

This is a short primer in what to watch out for when shopping for land or property in one of the many developments being sold throughout the country. There are a huge number of developments, some good, some great, and, unfortunately, a great many that are not so great. In fact, the representations made by some of them border on out and out falsehoods.

So how do you tell the good from the bad?

A potential buyer, should INSIST on answers to these questions:

1. If you are buying a predevelopment or preconstruction property, what guarantee do you have that the infrastructure will be completed? Do you really want just a pile of dirt with a view?

2. Are you certain that all of the amenities you WANT and NEED are available? Don’t assume anything in Costa Rica. This ain’t Kansas, you know. The Internet and the satellite TVs and even good medical care or a good mechanic are not things that exist here with any assurance. Make a checklist for yourself.

3. Are you positive that your lot can, in fact, come with water, electric and telephone? There are more than a handful of communities in Costa Rica where water shortages are preventing building permits from being issued. Talk to the municipality and a good attorney and insist upon proof of these simple questions. Utilities and roads in Costa Rica are not items to be taken for granted.

And a salesman’s assurance of a new highway or road to the property is definitely not a guarantee.

4. If your salesman tells you that you can subdivide the property and resell it for a quick profit, don’t just take his word for it. Tell him you want proof. Many municipalities have minimum size lots and sometimes the promise of quick profits can cloud sound judgment. Oh, how are you going to arrange for utilities to your new subdivided lots? Do you think realistically that you can arrange these items with a phone call? Think again.

5. If you are one of the many potential buyers who is thinking about buying a property sight unseen, THINK TWICE. You wouldn’t do it in your own hometown. Why would you do it in a foreign country?

6. Don’t be dazzled by a salesman’s promise of quick profits, a new marina or a hospital or highway “right around the corner.” Time moves slowly in Costa Rica, and installing the infrastructure you are counting on could realistically (and probably will) drag on for years.

7. If you have responded to an e-mail, TV ad, or Google ad, you will get a telephone call extolling the virtues and profitability of the property in question. Ask the salesman where he is calling from. The odds are very high that he is calling from Florida and that he has not even seen the property. Go ahead, ask him. And ask yourself what kind of credibility this person could possibly have if he has not even seen the property or doesn’t even live in Costa Rica.

8. Ask the person selling the property for his cédula or basically his license to sell here in Costa Rica. This is important.

You may also be asking yourself “if there is something wrong with this property I should have already seen something negative about it, right?”

Actually, this is one side of Costa Rica that almost no foreigner knows about. Any negatives or “badmouthing“ of specific properties can result in lawsuits. Slander and libel in Costa Rica carry huge penalties.

Costa Rica IS a fantastic place to live or to visit. And it can be a great place to own property. But it can also be a nightmare for many who don’t do their homework. Make sure you do yours.

Story By A.M. Costa Rica

All-Inclusive Hilton Papagayo Resort Costa Rica Opens Today With Multi-Million Dollar Makeover & Special Introductory Rate of $499

All-Inclusive Hilton Papagayo Resort Costa Rica Opens Today With Multi-Million Dollar Makeover & Special Introductory Rate of $499 BEVERLY HILLS, Calif.CA-HILTON-HOTELS-CORP

Aktuelle Nachrichten - veröffentlicht durch ad-hoc-news.de: Hilton Hotels Corporation celebrates the New Year with today?s opening of the Hilton Papagayo Resort Costa Rica ? the first Hilton in Costa Rica. To mark the occasion, the resort offers guests an amazing introductory rate of $499(a) per night all-inclusive based on double occupancy. This latest addition marks the company?s third full-service hotel opening in Costa Rica this month and reinforces the commitment to grow its family of brands throughout Central America.

Formerly the Premier Fiesta Resort & Spa, the 202-room all-inclusive resort has undergone a multi-million dollar renovation, covering almost every aspect of the property. Influenced by its natural surroundings, the resort welcomes guests with a brand new open air lobby, as well as upgrades to guest rooms, gardens and public areas, meeting facilities, restaurants, swimming pool area, and a brand new world-class spa.

?We are delighted to welcome the Hilton Papagayo Resort to our Costa Rica portfolio. The opening of this third full-service hotel is an important stepping stone in our expansion efforts throughout Central America,? commented Danny Hughes, area vice president, Caribbean and Central America, for Hilton Hotels Corporation. ?Now, we can offer both business and leisure guests an array of full-service hotel options across the country, in San Jose with the Doubletree Cariari by Hilton, in the central region with the all-inclusive Doubletree Resort by Hilton Puntarenas, and in the gulf of Papagayo with the luxurious Hilton Papagayo Resort.?

Located just 20 minutes from Liberia International Airport, the Hilton Papagayo Resort is nestled between the mountains on a secluded and government protected natural volcanic sand beach on the Bay of Papagayo in Guanacaste. Featuring 202 renovated rooms, including 71 bungalows, the resort delights guests with luxury accommodations in the midst of pristine natural surroundings. All guest rooms have been completely remodeled and outfitted with the new Hilton Serenity Collection? mattress and linens. Four brand new junior suites have been added to the resort, each with its own private plunge pool and amazing ocean views.

?Costa Rica is an exceptional destination and the perfect spot for Hilton with its wide array of offerings for the leisure and business traveler,? said Jeff Diskin, senior vice president ? brand management, Hilton Hotels & Resorts. ?The Hilton Papagayo Resort is a great addition to our Latin American Portfolio and is representative of our brand?s expected growth in 2008.?

For recreation and relaxation, the resort boasts two outdoor swimming pools with a new pool area and deck, non-motorized water sports, tennis courts, on-site tour desk to arrange eco-adventures, local arts and crafts store, and nightly entertainment. A new Kidz Paradise club features activities for children of all ages, including games, nature walks, and the club?s very own volcano. The pinnacle of the resort?s relaxation options is a brand new world-class spa with 13 treatment rooms featuring spectacular garden and ocean views, separate swimming pool, a fitness center with Precor® equipment, and an array of creative and unique treatments including everything from volcanic stones to local fruits.

The resort has spectacular options for destination weddings and honeymoons, offering the happy couple everything from sunset weddings on the beach to a romantic honeymoon hide-away. With over 75 weddings per year, the Hilton Papagayo Resort has the perfect combination to make any wedding an occasion to remember.

For the business-minded, Hilton Papagayo Resort offers over 1,300 sq. ft. of meetings space, including three new meeting rooms and an auditorium for up to 300 people. An outdoor terrace is the perfect place for coffee breaks surrounded by tropical gardens and ocean views. A business center equipped with computers, high speed Internet access, printers, and more is also available.

The resort features all-inclusive dining with three restaurants and two bars. The live show-case cooking buffet-style La Cosecha Restaurant is open for breakfast, lunch, and dinner, serving international and local cuisine, with a specialty theme each night. Grill del Fuego provides Italian cuisine in a quaint atmosphere, while El Dorado specializes in creative Costa Rican cuisine in a formal setting. Plus, Hilton Papagayo Resort will delight guests with the Hilton Breakfast Program, featuring a color-coded system that allows guests more choice and control over the first meal of the day. The color labels denote whether the menu item is low-cholesterol, low-fat, high-fiber, low-calorie, high-energy or an indulgence.

The Hilton Papagayo Resort is a proud member of the Certification for Sustainable Tourism Program, where it has been recognized with a three-leaf Rating from the Costa Rican Tourism Institute. The scenic volcanic sand beach at the Hilton Papagayo Resort has also been designated a government protected beach where guests can enjoy untouched natural surroundings.

Hilton Papagayo Resort welcomes guests with a special introductory rate of $499(a) per night all-inclusive based on double occupancy(a) .

For information or reservations at the Hilton Papagayo Resort visit www.hilton.com.

(a) Special introductory rate is valid January 15 through March 31, 2008, based on availability and subject to change without notice. Rate is based on double occupancy, and does not include gratuities or other incidental charges. Services of alcoholic beverages is subject to local laws.

About The Hilton Family of Hotels In Central America

Hilton Hotels Corporation currently owns, manages, or franchises seven hotels in Central America, including Hilton full-service hotels in San Pedro Sula, Honduras; Managua, Nicaragua; San Salvador, El Salvador; a Hampton Inn & Suites hotel in San Jose, Costa Rica; the recently opened Doubletree Resort by Hilton Puntarenas and Doubletree Cariari by Hilton San Jose; and the newest addition, Hilton Papagayo Resort. An additional property is scheduled to join the Central American portfolio in late 2008 - a Hilton Garden Inn hotel in Liberia, Costa Rica.

About Hilton Hotels Corporation

Hilton Hotels Corporation is the leading global hospitality company, with more than 2,900 hotels and 480,000 rooms in 76 countries and territories, including 100,000 team members worldwide. The company owns, manages or franchises a hotel portfolio of some of the best known and highly regarded brands, including Hilton^®, Conrad^® Hotels & Resorts, Doubletree^®, Embassy Suites Hotels^®, Hampton Inn^®, Hampton Inn & Suites^®, Hilton Garden Inn^®, Hilton Grand Vacations?, Homewood Suites by Hilton^® and The Waldorf=Astoria Collection^®.The Hilton Family of Hotels adheres to founder Conrad Hilton?s philosophy that, ?It has been, and continues to be, our responsibility to fill the earth with the light and warmth of hospitality.? The company put a name to its unique brand of service that has made it the best known and most highly regarded hotel company: be hospitable®. The philosophy is shared by all brands in the Hilton Family of Hotels, and is the inspiration for its overarching message of kindness and generosity. For more information about our company, please visit www.hiltonworldwide.com, and to learn more about our be hospitable philosophy, please visit www.behospitable.com.

Why group real estate investing? History has proven again and again that the people who thrive are the ones who work together. Have you ever considered the power of working together to invest with a group?

If you haven’t, I’m going to enlighten you as to a number of reasons why you should consider investing in a group, and explain a few of the many benefits of group investing.

Group real estate investing can maximize financial leverage.

What do I mean by this?

Think about what happens when you put ten percent down, or $30,000 cash, on a single family house and you receive a loan for ninety percent of the purchase price of $300,000…in effect you just leveraged your money TEN times to control an asset worth (if you bought right that is) at least TEN times the money you used to control it.

That $270,000 loan, the other ninety percent of the money used to own the property, was OPM- or “other people’s money”. Maybe you got it from a bank, or a mortgage lender, maybe even from a private lender, or even the seller of the property itself gave you that loan you used to finance ninety percent of the purchase price.

Doesn’t matter, because no matter where the money came from you didn’t need to have the entire purchase price to get control of the property (and enjoy the benefits of investing and real estate ownership)…did you?

Regardless, it’s nice to own a small house with a value of 10 times what you had to invest cash in order to get that ownership.

And for most people, they feel comfortable being on the line for that 90 we used earlier)?

For many people, those last two loan examples are out of their comfort zone.

Even if they had or could raise the amount of money required to control the property.

It wouldn’t matter WHAT the property was worth, or how much more than $27 Million it was worth, signing on the dotted line for $27 Million is just not something they’d be comfortable doing.

And yet many of these are the kinds of deals that provide the BEST dollar-for-dollar returns…so how does the average investor get some of that money? Without shouldering the huge debt service themselves?

Well, it’s often possible when you invest with a group in real estate.

For example, you can leverage the resources of other people, other investors-not just banks and mortgage companies. This can be a major plus because now it is not you alone who is responsible for the entire purchase price or perhaps, not even be on the line for the debt attached to the purchase.

Investing in a group can give you access to investments that might be so large in scale as to be out of reach for you alone. Many millionaire fortunes have been built by investing with groups- not only in real estate.

But let’s stick to real estate for the purposes of this article. Group real estate investing, especially, has proven over time to be very lucrative.

There’s a lot of information you need before deciding to pursue investing with a group in real estate…whether you’re looking to invest with a real estate group that’s already investing or whether you intend to start your own real estate investing group- in which case the scope of this article is much, much too small to adequately prepare you but will point you in the right direction.

Here are some simple tips that will guide you in your decision-making before you invest with a group in real estate:

1. Know the entity/business structure the investing group uses, and make sure it’s conducive to a group

2. Transparency is key- financials should be disclosed to all investors in the group

3. Your money is only as protected as it says in the legal documents

4. Determine liquidity (can investors sell out, or transfer their piece of the investment?) before investing

5. Be aware of investing government regulations (especially SEC)

6. Learn the right questions to ask

7. Hire the right experts, professionals, and advisors- attorneys,
accountants, managers

8. Don’t invest unless you are comfortable with the risk/reward ratio

I hope these tips have empowered you to think about the benefits of investing in real estate with a group. If so, you will have taken an important mental step into a brighter and more prosperous future. In fact, the majority of all millionaires at one point formed an alliance with other people of the same vision to ensure their success.

Perhaps it is time you did, too?

It’s no secret that Costa Rica’s Peninsula Papagayo has become a tourist magnet. Located on the country’s north Pacific coast, only 30 minutes from Liberia’s international airport, the 2,300-acre peninsula is comprised of 15 miles of coastline, 31 distinct beaches that range from white to black sand and a number of five-star hotels and luxury real estate developments dotting the landscape.

With golf courses designed by Arnold Palmer and Jack Nicklaus, the first phase of the 350-slip Marina Papagayo slated to premiere in 2009 and 500,000 acres of surrounding eco-parks to explore, there’s something for everyone in this lush corner of Costa Rica.

Four Seasons Residence Club

At the tip of Peninsula Papagayo’s southern peninsula, the two- and three-bedroom ocean-view villas of the Four Seasons Residence Club Costa Rica feature large terraces and plantation style decor, accented with indigenous wood finishes. A one-twelfth fraction of a three-bedroom villa is priced at $225,500 and entitles its owner to 21 nights of use per year. A two-bedroom share is $169,500. Owners may enjoy all that the highly lauded Four Seasons Resort Costa Rica has to offer, as well as exchange privileges at other Four Seasons Residence Clubs.

Cacique

Revolution Places, America Online co-founder Steve Case’s development group, will unveil the first phase of the environmentally-friendly resort destination Cacique on 650 acres of the Peninsula Papagayo in 2010. The development will include a One & Only Resort, a Miraval Spa, a Tom Doak 18-hole golf course and an Agassi-Graf Tennis & Fitness Center; already, destination club Exclusive Resorts has 21 residences on the property. Additional real estate offerings are expected to include estate sites, custom and semi-custom whole ownership residences and resort-loft living. More details will be released in Summer 2008.

La Punta Papagayo

Minnesota-based development firm Kirchert Pakonen is building La Punta Papagayo, a mixed-use luxury resort on 60 acres of waterfront property overlooking the Gulf of Papagayo. Managed by Regent Hotels & Resorts and opening in 2010, the development will feature a hotel, spa, luxury villas, estate homes and a retail village. Sales will open in March 2008 when the development is expected to break ground; prices on a two-bedroom villa range upward from $1.6 million, with three-bedroom villas starting at $2.3 million.

St. Regis Residences

On the country’s central Pacific coast, the St. Regis Hotel and Residences Costa Rica, set to open in 2008, will include 49 one-, two- and three-bedroom condo hotel residences and 42 whole ownership private villas. Cheryl Rowley Associates, the acclaimed Beverly Hills-based design firm responsible for the Four Seasons Buenos Aires and the Mandarin Oriental in San Francisco, is designing the resort’s guestrooms, suites and residences.

Costa Rica ranks fourth place in the world as an ideal environment for foreign investment, because there are few restrictions on foreigners owning land in Costa Rica, foreigners enjoy the same rights as Costa Ricans and do not require any special conditions to purchase property within Costa Rica. The one exception is the Terrestrial Maritime Zone discussed below.

In Costa Rica, there are some restrictions for land use, so we recommend performing a due diligence over each property title to determine if the location, soil, easements, restriction zones, and other incumbent’s aspects do not affect the intended use. Advice from professionals on these subjects is recommended.

Required Documents to buy Costa Rica Real Estate

Foreigners must have a valid Passport or Proof of Residency card. Costa Ricans must provide their ID.

Corporations must be duly registered in Costa Rica and the legal representative must provide the corporate card and a certificate of incorporation in good standing.

A Municipal Certificate from the local Municipality must show that taxes are paid and that the seller has no debts within that municipality.

A Cadastral Survey, duly recorded in the National Register, is necessary for each Costa Rica real estate property transaction.

Real Estate Property Registry Report showing that the property is free of liens, mortgages, annotations and encumbrances.

A power of attorney may be used if one of the parties will not be present at the time of signing the sales documents.

Costa Rica Real Estate Information

Properties in Costa Rica are recorded in an electronic database operated by the Real Estate Property Registry, a section of the Costa Rica National Registry. The database provides public access and you can verify the information from any place in the world with an Internet connection.

The electronic report will show basic information regarding owner, location, cadastral survey number, boundaries and the area. In addition to that, the report will show if the property has easements, liens, annotations, mortgages and other encumbrances.

It’s recommends that the future buyer hires an attorney-at-law in order to make an historic due diligence over the property, in order to have a larger certainty about the origin and ownership of the Costa Rican property.

However, not all properties in Costa Rica are recorded in the Real Estate Property Registry. There are still some properties in Costa Rica, were the owners are not holder of a title. Instead, they have occupation rights and it is necessary to follow a procedure before a Courthouse in order to obtain an order from a Judge to record the property in the Costa Rica Real Estate Property Register.

Other exception is the Maritime Zone. Maritime Zone is defined as the seacoast area located two hundred meters from the high tide line. The Maritime Zone is divided in two sections: 1. Public area; and 2. Concession area. The Public area includes the first fifty meters from the high tide line. The Concession area is located between the fifty meters and the two hundred meters. The Municipalities manage concession areas and they can be granted in 20-year term leases (or concessions) to private parties, with several limitations.

Foreigners not familiar with Costa Rican Real Estate law would be well advised to seek the advice and support of a reputable Costa Rican law firm. We can recommend a number of attorneys who speak English and who will assist you in accomplishing your goal of owning and enjoying your Costa Rica real estate.

Costa Rica is a beautiful and peaceful place and you can enjoy a great vacation in Costa Rica at the beach or at the mountains; let yourself go with extraordinary ocean views, sunsets and beaches of white sand, as well as great weather. If you have the opportunity to come to Costa Rica and see what this paradise can offer you, then you will probably want to think further about buying real estate in Costa Rica; a little piece of heaven where you can feel at home. If that is the case, then this Costa Rica real estate guide will certainly be of benefit to you. It will help you understand a little better what it takes to invest in properties in Costa Rica, and will provide you with a guide to the steps you will need to follow in order to find the property that fits your needs and expectations in Costa Rica.

Can a foreigner own property in Costa Rica?

Unlike other countries, the law in Costa Rica makes no substantial differences between its citizens in Costa Rica and foreigners with regards to rights of ownership of any kind in Costa Rica. This means that it doesn’t matter where you come from. If you have a valid passport with you, you can purchase a car, a boat or a piece of land in Costa Rica just like any “Tico.” However, according to the law, there are a number of different designations/types of properties in Costa Rica for which some restrictions may apply and therefore, should be carefully considered.

What Kind of property is out there?

Registered property

All properties in Costa Rica that have an owner, according to law, must be registered in the public institution in charge of all related matters (i.e. owners of land, cars, boats, intellectual property in Costa Rica, corporations, powers of attorneys in Costa Rica and more). This institution provides public access to these registries which help to make buying real estate in Costa Rica and business in general more secure. It is called the National Registry (Registro Nacional) and there you can find all the information you need to know about any Costa Rica property you are interested in, such as: who is the current owner, the survey plan, the size and boundaries of the land in Costa Rica, if there’s a mortgage on the Costa Rica property, land segregations, etcetera. Within the registered properties in Costa Rica, there is a special classification:

Property in Condominium.

Condos in Costa Rica are subject to some different regulations that come with certain advantages, like the potential to enjoy common facilities such as pools, tennis courts or gardens depending on the Condo in Costa Rica. There are also some restrictions set by law and others set by the Condominium’s specific Internal Rules and Regulations. These types of properties usually have regulations governing security, moral code, and a common maintenance items. These added amenities typically add cost to the initial purchase prices of such properties in Costa Rica.

Maritime Terrestrial Zone (Zona Marítimo Terrestre or ZMT)

The Maritime Terrestrial Zone encompasses a coastal area of 200 meters (646 feet) from the mean high tide line and has special laws governing its use. This area is divided in two:

* The Public Area, which extends from the mean high tide line up to 50 meters (164 ft) inland. This area is public and there is no possibility of ownership of any kind, neither for Costa Ricans nor foreigners, and only approved ports and marinas in Costa Rica can be built there.

That’s why there are no private beaches in Costa Rica and if you are looking for a beach front property in Costa Rica you should be extra careful in your search, always seeking competent legal advice before committing to a purchase.

* The Restricted Area, extending from the end of the public area inland an extra 150 meters (492 ft). This is also known as the concession area. This area cannot be owned either, but the Government can allow you to build on this Costa Rica land for use and enjoyment for a specific term. This term, in most cases, can be renewed for equal periods (normally 20 years). If the “concession” is not renewed, the land and everything built on it reverts back to the Government. In order to obtain a concession in Costa Rica, an application must be presented to the local government. This process usually takes time and you must consider this in your plans. Maritime Zone properties in Costa Rica are one of those that come with limitations for foreign investors. By law, the concession cannot be granted to a foreigner alone; the concessionaire must be a Costa Rican or Costa Rican company that is controlled by Costa Ricans (at least 51% of the company’s shares). The exception to this rule is that a foreigner who has maintained permanent legal resident status for at least 5 years may also be granted a concession without the need for any Costa Rican participation.

Non-registered property

Almost all the land in Costa Rica is registered in the Public Registry (Regisro Publico de Costa Rica). There are however, properties in Costa Rica that have not yet been registered or are in the process of registration. These are typically found in rural areas. It is not wise to purchase unregistered properties in Costa Rica as the rights of possession could be contested. In these matters it is also wise to seek competent legal advice.

Public Property

There are some parcels of land in Costa Rica that belong to State institutions, Municipalities (local government), National Parks and reserves. These are public properties and are included under different special regulations. These public Costa Rica properties will remain public.

Time share or 4-Dimension Property

This is not strictly an ownership right, but is a figure that has become common in other countries as well as in Costa Rica. This is property in Costa Rica, usually with some sort of structure (a house in Costa Rica, a condos in Costa Rica or farms in Costa Rica), registered in the National Registry and owned by a company or a person. The owner sells the right of use of that land for a specific time period, usually one or several weeks per year. A person can buy a time share for particular time frame (i.e. week, weekend, specific days) for a limited number of years, and enjoy the property in Costa Rica while he/she has the right to do so, according to a contract. This kind of property is called 4 Dimension Property because you can enjoy the 3 Dimensions of the land (length, height and width) just for a limited time per year; “time” being the Fourth Dimension.

Time to make some decisions

The first thing you need to do if you want to invest in real estate in Costa Rica is to decide what kind of property you want. It might be a Costa Rica beach front property, ocean view property or the city.

Once you have figured that out, you will need to think about the type of climate you prefer: the Central and South Pacific is considered to be hotter than other parts of Costa Rica; if you like hot and dry weather you will probably prefer to be in Guanacaste and some areas of the Pacific like Playa Tambor, Montezuma, Mal Pais, Manzanillo, Coyote, or Costa de Oro; for cooler climes you would most likely seek refuge in San Jose or Escazu. Once you have decided where to invest in Costa Rica you must decide what to invest in. If you want to find a plot of land in Costa Rica on which to build your dream home in Costa Rica, be ready to be patient; it can take some time between the design phase, permitting and construction process.

There are many things you will need to consider, such as, but not limited to, finding good architects in Costa Rica or civil engineers who help you not only with the construction plans but also with the permits. In order to start a construction in Costa Rica be advised that you will need permits from several institutions and it always requires time and paperwork. This need not be too unpleasant when you have the proper assistance of a professional who can guide you and provide his/her expertise in helping you get the job done in the shortest time possible and complying with what you want. In some areas, there are additional requirements established by Environmental regulations.

If you are considering investing in rural areas with the intention of building, an Environmental Feasibility Study is highly recommended and/or required. If you decide to buy a condo in Costa Rica or a house already built, it will alleviate the worry of dealing with anything that has to do with permits, construction contracts and time issues. Nevertheless, you need to be aware that avoiding these little inconveniences will cost you some extra money.

Finding the place you dreamed of

Once you have decided either way, and you have chosen the area in Costa Rica where you would like to invest, you will need to narrow down your preferences to a specific kind of property or properties in Costa Rica. For this you can go two opposite ways: the first one is taking a ride around, basically window–shopping by yourself, answering ads in the paper or taking a car to see whatever you might find. This will end up being a very time consuming and exhausting experience and it will be very ineffective, since you probably won’t find the exact Costa Rica investment you are looking for. If you get extremely lucky you might find something that interests you, but since you may not have the chance to view a wide spectrum of the Costa Rica real estate market, that one perfect condo in Costa Rica could be waiting somewhere else without you even knowing about it!

The other way to go, which is highly recommended, is finding a competent Costa Rica real estate Broker. By enlisting the help of real estate brokers in Costa Rica who know the market, have all the information, the Costa Rica real estate listings and the necessary experience to guide you through the process of finding the perfect investments in Costa Rica in a smooth and efficient manner, you will spend less time searching and more time enjoying the benefits of that search. Equally as important, you will have been exposed to the widest selection of properties in Costa Rica available, which will hopefully result in locating exactly what you are looking for.