Costa Rica is one of the smallest countries in Central America, located in a narrow part of the isthmus that connects two continents. Its shores are washed by two oceans - the Pacific in the west and the Atlantic in the east, while not a single place in the country is more than 120 km away from the sea. The northern neighbor of Costa Rica is Nicaragua, the southern neighbor is Panama. The climate here is mild, the average temperature is from +22 to +27 C. During the rainy season, there is a lot of precipitation, while in the dry season, which begins in December and ends in April, there is no rain at all. Costa Rica is considered the most stable democracy in Latin America. Democracy has existed there for over a century. Throughout its history, the country has never participated in military conflicts, and 60 years ago, even the army was liquidated here - as unnecessary. Violent crime rates are close to zero and pickpocketing is considered the main criminal problem. In recent years, a large number of properties have been built for holidaymakers and retirees. Costa Rica is growing in popularity as an investment destination, and house prices, especially on the oceanfront, have skyrocketed over the past 10 years. This is primarily due to the demand generated by foreign buyers - Americans and Europeans. Caution does not hurt For foreign citizens when buying real estate in Costa Rica, there are no restrictions. They enjoy the same rights as residents of the country. But in the future, unexpected problems may be associated with an Internet connection and telephone communications. Only residents of Costa Rica are eligible for this, but this rule is easily circumvented by creating a local company (costs $ 700-900) and registering real estate to it. However, almost all foreigners buy real estate not in their own name, but for the company, as this also helps to save on taxes. The buying process itself is quite simple, and the main secret of success - as in any other country - is to observe certain precautions. For example, do not sign something the meaning of which is not clear. The problem is very relevant, since all documents for the authorities are drawn up only in Spanish. You need to demand their translation into a language you understand and sign only as a complex. Another Costa Rican problem is the significant amount of real estate that is not properly title deed. This problem is especially relevant in rural areas and when buying under construction. In order not to get involved in an illegal transaction that can lead to confiscation of property, it is necessary to use the services of a qualified specialist. He will check the legality of the previous owners' rights to the property, and also make sure that the written description of the property matches the official development plans. The process of buying real estate in Costa Rica itself is not too expensive. The total amount of taxes and fees will be just over 5% of the property value. If you decide to take out a mortgage, then keep in mind that a loan costs about 1.5%. “As a rule, only residents of the USA and Canada can apply for a loan,” says Elena Mikhailova, the owner of several properties in Costa Rica. - The rest of the foreigners have to rely on personal agreements with the seller or a loan from the developer company. I have three loans, which were obtained in this way, their interest rate is approximately 8-9% in dollars. " Building houses less than 200 m from the sea is prohibited. The area is state owned and has strict construction laws. Therefore, when buying any type of property on the first coastline, you need to be as careful as possible. By purchasing a house in Costa Rica, you will feel that life here is incomparably safer in terms of crime. But the quality of the roads is a clear disadvantage of the country, and it is not surprising that Costa Rica has the highest rate of road accidents in the region. Moreover, this is due not only to the poor condition of the roadway, but also to the chronic non-observance of traffic rules by drivers. Rentiers love vacations The beauty of nature, favorable climate, stable political and economic situation make Costa Rica a very popular tourist destination. More than a million people come here every year, and most of them are North Americans. It is not surprising that the outlook for the short-term rental housing market is very good here. Those planning to earn rental income should definitely pay attention to the houses located as close to the beach as possible. “The rental price in Costa Rica is quite high,” says Elena Mikhailova. “At the same time, during the high season, the occupancy rate of expensive hotels and villa complexes is close to 90%, and during the school holidays in February and April and for the New Year holidays, everything is reserved several months in advance. The high season is from early December to late April. Quality villas are rented for between $ 1000 and $ 7000 per week, depending on the season. And in complexes such as Los Suenos and Four Seasons, rents are approximately $ 2,000 per day per villa. Apartments, depending on location and novelty, are rented for $ 90-350 per day. " Almost all real estate agencies offer assistance in renting out real estate. This option is most attractive to foreigners, since in the absence of the owner, the agency will monitor the condition of the house and provide security. Choosing the right choice The choice of offers in Costa Rica is huge. There are many new projects - golf real estate, complexes by the sea, and villas near volcanoes on the shores of Lake Arenal, and condominiums around the capital of San Jose. The most interesting from an investment point of view are the central and southern parts of the Pacific coast. Now the construction of a new road is being completed, which will connect this region with the capital, and the infrastructure for civilized recreation already exists. The beaches in resorts such as Jaco and the surrounding area are popular with tourists, with yacht clubs, golf courses and five-star hotels built here. Despite the fact that the level of prices in the resorts of Costa Rica is about half that of similar properties in the Mediterranean resorts, the quality of construction here is much higher than the average in Europe, and the after-sales service, including property management, is highly developed. Ekaterina Mikhailova draws attention to the fact that the most popular resort in the central part of the Pacific coast, the Jaco resort is now almost completely rebuilt. Numerous hotels, casinos, restaurant complexes will be created here in 2-3 years. Apartment with two bedrooms in a gated complex, just 5 min. walking from the ocean cost from $ 140,000, while a huge penthouse - about $ 1.2 million. However, these prices refer to projects at the stage of the excavation. In ready-made gated complexes located by the beach, you can now buy a three-bedroom apartment for $ 350,000. 4 km north of Jaco, where the huge complex Los Suenos Marriott Ocean & Golf Resort is now located, construction of an apart-hotel under the management of the operator St ... Regis. Prices here start at $ 900,000 for a 1-bedroom apartment and go up to $ 4 million for a 3-bedroom apartment. 600 km south, in the Manuel Antonio National Park area, there are many beautiful villas for sale located in the mountains with fantastic ocean views - an amazing combination! Their prices range from $ 1 million to $ 5 million. Studio apartments with an area of 30 square meters. m in the complex Las Torres Del Coco, located on the first line of the Pacific coast, are sold for $ 59,000, and $ 6,200 must be added to get a finished and furnished apartment. Such an apartment can generate rental income of $ 360 per week. Another complex with a similar name, Torres Del Cocos, is one of the few under construction in the famous Playas Del Coco resort. Apartments with 2 bedrooms can be bought here for about $ 100,000, and a house with 3 bedrooms - for $ 195,000. All properties are furnished and have a swimming pool, jacuzzi and gym. The most popular and largest local real estate company is, perhaps, Estate Realty, which mainly offers luxury real estate in resorts such as Ramada (Ramada), and organizes the rental of properties to tourists. Prices at this resort start at $ 290,000 for a 2-bedroom condominium apartment. The most expensive property in the company's catalogs is the magnificent Baan Tong House, which is worth approximately $ 1.8 million.
