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Economic/Political Profile

For detailed information about the background, geography, people, government, economy, communications, transportation, military, and transnational issues of Costa Rica,  click here

 https://www.cia.gov/library/publications/the-world-factbook/geos/cs.html

For the Index of Economic Freedom  click here

 http://www.heritage.org/Index/Country/CostaRica

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Financing a Property

Many owners and developers will finance up to 70% of real estate purchases in Costa Rica, as will a few international banks. For information on financing a property in Costa Rica, click here

http://www.justlanded.com/english/Costa-Rica/Costa-Rica-Guide/Property/Credits-Mortgages

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Market Conditions

Currently it is a good time to buy property in Costa Rica as the market is regaining momentum after nearly three very quiet years due to the global financial crisis. Traditionally, Costa Rica attracts retirees from the U.S., Canada and increasingly from Europe. A growing number of South Americans are seeking Costa Rica as an alternative place to live. The Central Valley area has many expatriates clubs and social gatherings for people who are interested, and the climate is moderate year-round there. Others choose to live at the beach, favoring the more relaxed and easy going lifestyle that can still be found on Costa Rica’s beaches. The September 11, disaster at the World Trade Center created a real estate boom in Costa Rica. The reason for that is that travelers and investors were looking for a safe and wholesome haven with a stable investment climate and easy access via air travel. That boom continued until the global real estate collapse. Due to the real estate and mortgage collapse that began in 2007 and continued to worsen into 2010 in the United States, Costa Rica is experiencing a slowdown in the market mainly due to the tightening of credit. Low interest rates and liberal lending practices were a large factor in the investment boom Costa Rica has experienced over the past half of decade. Using the 911 disaster as an example and with the ever growing popularity of Costa Rica and the confidence that investors have in this market, Costa Rica is showing that once again Costa Rica will recover sooner than most other international markets and that proof is the steady improvement of real estate investment being experienced since the beginning of 2010 and steadily improving now in Mid 2010. Positive reports of improving sales from residential, commercial, resort land and raw land are proving that Costa Rica is well on its way to recovery. Many people compare the Costa Rica of today to the Hawaii of the Forties and Fifties-Lots of Opportunity.

For information on current property market conditions in Costa Rica, click here

http://www.nuwireinvestor.com/articles/costa-ricas-real-estate-market-continues-to-slow-52939.aspx

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Buying a Property

Guide to Understanding the Real Estate System and Buying Process in Costa Rica

Introduction

The acquisition of real estate is one of the most significant investments a person makes during his or her lifetime. It can also be one of the most stressful. In foreign countries such as Costa Rica, the normal stress of the purchasing process can be compounded with other risk factors, such as language barriers and unfamiliarity with local laws and procedures. That said, foreigners can and do legally and successfully purchase property in Costa Rica. In fact, Costa Rica offers potential buyers many types of real estate products including houses, condominiums, time-shares, farms, finished lots and beachfront property. The following guide is designed to help buyers navigate their way through the real estate buying process for all types of purchases. The guide is divided into three main sections covering:

Property Types and Property Rights

Purchase Process

Investment Protection: strategies and tools to protect property investment


For additional resources on purchasing property in Costa Rica, click here

http://www.coldwellbankercr.com/useful_information/real_estate_buying_guide

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Other Industry Sources

For additional government and industry sources, click here

Central Bank of Costa Rica ,click here

http://www.bccr.fi.cr/flat/bccr_flat.htm

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