Costa Rica is a country comprising of a group of islands in the Central American region. San Jose is the capital of this beautiful country. When Christopher Columbus discovered this land in the year 1502, he was right in naming this country Costa Rica in Spanish which translates to “rich coast” in English. This country is a land of captivating beauty. The exuberant greenery and the bewitching landscape attract the people to this beautiful country.
Costa Rica is a country much beyond just intoxicatedly lovely beaches, the luscious, green and breathtaking landscape and the majestically enthralling mountains. The beauty of Costa Rica lies in the people who inhabit this beautifully rich country. The people of Costa Rica, generally referred to as “ticos”, are warm and friendly by nature. They are also very welcoming and helpful.
There are numerous reasons why Costa Rica is becoming a preferred choice for property investment. Costa Rica is a land beyond just sensuous beaches, picturesque landscape, lush greenery and majestic mountains. It is a land of happy and content people. The natives of Costa Rica, also referred to as “ticos”, are warm and friendly in nature.
Some of the most famous places in Costa Rica where you can invest in property are Puerto Viejo, Punta Uva in the Caribbean side, Heredia and Alejuela which are central provinces, and Escazu and Santa Ana in the capital city of Costa Rica, San Jose. There are many mountain properties, commercial establishments, beach properties and some upscale residential homes on offer for investment in these areas.
There are many reasons why people should look towards this country for investing in property. First of all, this country has an amazing countryside, lovely beaches, rich and bountiful flora and fauna and relatively untouched nature which makes this place a great option for investment. Secondly, Costa Rica is considered to be one of the safest places, though crime thrives in certain parts of this country. Costa Rican government is one of the oldest democratic governments in Central America.
Property investment in Costa Rica is also worthwhile because the Costa Rican government is improving the infrastructure in order to provide the best to the investors. The government is providing for good roads, good Internet connectivity, good schools and universities, banks and other infrastructure to suit the needs of the investors. The economic policies in Costa Rica are pretty liberal and aid in foreign investment in property.
Though Costa Rica offers a lot of benefits of living here, there are a few things that you need to keep in mind while planning to invest in property in Costa Rica. Costa Ricans tend to think that “gringos” or foreigners who are investing in property in their country have a lot of money stacked in their bank accounts. Hence, the real estate in Costa Rica is a two tiered market. The “ticos” (native Costa Ricans) quote different prices for the same property to “ticos” and “gringos”. Gringos are most often quoted a higher amount. This is one important point to bear in mind while investing in property in Costa Rica.
The final aspect to consider before investing in property here is to decide on the legal status. Costa Rica offers the status of “pensionado” to a gringo who has a monthly income of at least $600. They offer the status of “rentista” to a gringo who can show a monthly income of $1000 continuously for the past five years. The status should be renewed once every two years.
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