If you’re thinking of buying a second home, then you should consider buying property in Costa Rica – as prices are currently still inexpensive, but are rising rapidly.
By buying property in Costa Rica, you’ll be able to take advantage of a real estate boom that’s set to continue for many years to come.
Let’s look at why buying a property in Costa Rica is such a good investment:
Property Prices in Costa Rica are rising
Investors that purchased a $30,000 property 15 years ago, now find that their property is worth as much as $750,000.
Another example of the Costa Rica property boom is the Marriot Corporation, which built the Los Suenos Resort, pre selling fifty condominiums of 2000 square feet for $250,000.
The following year, Marriot sold another fifty at $350,000. This year’s upper end units are being sold for as much as $450,000 to $850,000!
The biggest change in property in Costa Rica during the past decade is that prices have dramatically increased as Costa Rica has attracted more foreign buyers – and prices have doubled, or tripled, from 10 years ago.
Property in Costa Rica is Inexpensive
Despite these huge property price rises, Costa Rican real estate is still cheap compared to countries such as the US. A lovely three bedroom property can be purchased for as little as $60,000, and prices for beachfront properties cost up to 75% less than in US states such as Florida and Arizona.
Property prices in Costa Rica will continue to increase in value over the coming years, but there’s another way to ensure that your properties value exceeds what is already an excellent average growth rate – and here we need to look at location:
The Importance of Location
When buying property in Costa Rica, you need to look at the infrastructure – which can improve an area’s value.
Here are examples of three infrastructure changes that will increase property prices in adjacent areas:
A New Freeway: Scheduled to be completed shortly, which will link the largest metropolitan cities to the Pacific Coast, thereby generating an increased flow of traffic and fueling buying interest in adjacent areas.
A New Marina: The largest marina in Costa Rica,is due to be completed soon in the Town of Quepos.
A New Airport: A new international airport is planned for the town of Orotina in the near future.
When buying property in Costa Rica, being in ahead of the crowd – before an important part of the infrastructure is completed, will enable perceptive buyers to take advantage of price rises after the infrastructure is completed.
If you’re buying property in Costa Rica, (or anywhere else for that matter) then you need to consider location before buying.
Buying Property is Easy
Where else in the world can foreigners come to a country which has a stable democracy, no military, a government that encourages investors with no restrictions, and where foreigners are entitled to the same ownership rights as Costa Rican citizens?
Throw in low costs and no capital gains tax, and its no wonder foreign buyers are looking at Costa Rica. Buying property is Costa Rica is easy – and that’s one of the major attractions.
A Demand Driven Market
Buying property in Costa Rica will continue to be a sound investment, as foreign buyers look for an affordable place to live with a great lifestyle.
Costa Rica is beautiful, and has a great climate with no weather extremes, a low cost of living, no serious crime and an infrastructure that is on par with many industrialized nations.
Buying property in Costa Rica offers a slice of paradise at a cost anyone can afford – and as more buyers invest, prices will rise.