Costa Rica is one of the strongest allies in Central America for the United
States. They are a democracy and their currency (Colon) is tied to the US
dollar. It abolished its army in 1949 and allocated the defense budget to
education and healthcare. Healthcare in Costa Rica is free and their
literacy rate is estimated at 94%.
Most of the foreigners purchasing real estate in Costa Rica come from the
U.S. and Canada. European ownership has increased dramatically as the mild
climate, beauty and low cost of living (comparative to the U.S. and Europe)
is extremely inviting.
Unlike Mexico, foreigner ownership rights are the same as those for Costa
Rica nationals and are protected by the constitution. There are regulations
for purchasing real estate within 200 meters of the shoreline, which
everyone must adhere to.
With many American-based businesses investing heavily in Costa Rica and a
420% increase in travel for the Liberia International Airport in three
years, the Costa Rica economy is experiencing healthy growth. In 2003, there
was 5.6% economic growth and 2004 exceeded 4%. Unemployment is only 6.3% in
Costa Rica. Services account for 58% of the economy followed by industry
(26%) and agriculture (16%).
Remember that a meter is approximately 3 feet. But, exactly one meter
squared equals 10.76 square feet. A hectare is approximately 2.5 acres (2.47
acres to be exact).
In 2006, baby boomers will reach age 60 at a
rate of more than 4 million per year. As a result, popular retirement areas
like Florida, Arizona and California are quickly becoming crowded and too
expensive for many retirees on a fixed income and longer life expectancy.
Costa Rica is an affordable retirement option offering an inexpensive
lifestyle with a secure environment for only a $500 to $700 flight with many
major US airlines.
The breathtaking beauty and serene lifestyle that Costa
Rica offers, is beckoning a large number of retiring Americans and
Canadians.
“MN Partners of Costa Rica
held my hand through the entire buying process, they arranged
for accommodations and even picked me up at the airport in Costa
Rica!
Their hospitality was unbelievable, and at no point did I
feel pressured into buying.
It must be the Minnesota Nice thing,
whatever it was it worked, I ended up purchasing two condos”
– Buyer of Vista
Hermosa 150 M Condo & Villa La Colina 80 M Condo
Costa Rica is one of the safest countries in Central America for foreign
investment with huge potential gains. World Bank’s Survey for Political
Stability placed Costa Rica 36th for stabile democracy out of 209 countries
from around the world. Once a small airport, Costa Rica’s Liberia (LIR)
Airport is now expanding to meet the increase of over 420% in the past 3
years--further evidence of the Guanacaste area’s increasing popularity.
With the increase of foreign interest in land ownership, banks and title
companies are now financing and securing Costa Rica real estate purchases.
The
purchasing process
is similar to buying land in the US and typically
requires 20 to 30% down. The big land rush is happening now and we expect to
see prices increasing steadily over then next 20 years. But, for now, a
1,500 square foot ocean front condo can be purchased for under $200,000!
This same condo can be rented for up to $200 a night.
In 2006, baby boomers will reach age 60 at a
rate of more than 4 million per year. As a result, popular retirement areas
like Florida, Arizona and California are quickly becoming crowded and too
expensive for many retirees on a fixed income and longer life expectancy.