When it comes to investments, some are risk-takers and others need a more secure bottom line. In many countries, buying property internationally has been known to be a high-risk environment for foreign investors. At times they run into ownership limitations, government instability, seizure of property as a common occurrence, and laws that are unfriendly to outsiders. So, it’s no surprise when a new buyer asks, “How much of a risk is it to buy property in Costa Rica?”
So, let’s discuss what will an investor encounter in Costa Rica? For those of us who love an informed decision, it’s helpful to know that the U.S. Department of State notes that in 2020 while still managing a global pandemic Costa Rica predictably had “…moderate but falling economic growth rates (4.2 percent in 2016 to 2.0 percent in 2019) and moderate inflation (1.5 percent through December 2019) providing a stable investment climate.”
It is also important to note that foreigners have the same property ownership rights as locals, apart from environmentally protected land. In addition, the annual Costa Rica property tax is extremely low, currently at 0.25% of the taxable value of the property.
In conclusion, when investing in Costa Rica real estate you will find a relatively safe environment. The laws here favor international investors, property prices continue to appreciate, taxes are shockingly low, and the tourism industry continues to have healthy growth; Allowing you to relax and enjoy hanging out at the beach, hiking up to a waterfall, or a spa day. Whatever you choose the life you build here will be one that you love.
Those of you who enjoy getting your heart rate up with extreme sports activities will find plenty to do like surfing, mountain biking, hand-gliding, and white-water rafting. Costa Rica is going to be your happy place. You’ll find out that even in the rainy season, there are adventures to chase. Either way, when it comes to your bottom line in real estate, you’re in great hands with your RE/MAX Pura Vida professionals. See you at the beach.