If you are considering a new home, don’t just limit yourself to options in the United States. The property experts agree: Real estate in Costa Rica is a good investment, and the market is heating up. This peaceful little country, sandwiched between the Pacific and Caribbean coasts, offers potential buyers a wide range of choices: Developed and undeveloped mountain and coastal properties, forests and ranches, hotels and eco-lodges, city apartments and country cabins, beachfront condominiums and farms producing vanilla, pepper, coffee, orchids and lumber...even European-style castles are available to those with the means. The country is known for its world-class surf breaks, first introduced to popular culture in the hit classic film, Endless Summer. Each year, thousands of backpackers and surfers from all over the world frequent Costa Rica to get a taste of the laid-back lifestyle and beautiful scenery, which is probably why the country has recently been experiencing a surge in real estate sales. Costa Rica is also one of the only places in the world where foreigners can come to a country with no soldiers, a government that caters to investors and fee-simple real estate with no restrictions and where foreigners are entitled to the same ownership rights as Costa Rican citizens.
Buying real estate in Costa Rica can be a rewarding experience, on both a financial and personal level. Many foreigners come to Costa Rica wanting to buy beachfront property, a little piece of tropical paradise they can call their own.
This increased demand has, in effect, increased prices. For example, 10 years ago a quarter-acre beachfront lot on Playa Grande (a well-known surfing beach), could have been purchased for $45,000 (U.S. dollars). Today, the same lots range between $140,000 and $175,000. Beyond the initial cost of a piece of real estate, there are also a few additional complications with regard to the legal land regulations as well as financing options. The main obstacle that has been standing in many “would be investors’” paths is actually finding a resource to research investment opportunities. There are various websites scattered all over the net on Costa Rica Real Estate, but it is sometimes difficult to initially trust information about a foreign country with foreign laws, language, and politics. In my opinion, the best route to take would be to research all relevant websites for a few months regarding every opportunity out there, and then to contact a local Agent. Many agencies catering to Americans and foreigners have sprung up all over the country recently. Many of them claim to be your "one-stop-shop" to investing down there. You can find them primarily online and in travel magazines. When making your decision, just make sure that agent you decide to go with is licensed.
Now that Costa Rica real estate is “on the map”, some investors are looking to the even more remote and less developed country of Nicaragua. Nicaragua has been said to offer the same “feel” as Costa Rica had roughly 15-20 years ago, before modern development changed much of the rural coastline and countryside. Nicaragua offers more risk at a reduced cost, so again, the problem with investing here is finding credible information on the local market.
In lieu of researching, I would recommend taking a trip to the region to see what Cost Rica has to offer. You may never come back.
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