Overseas Property News

Costa Rica

The Costa Rican Phenomenon

Latin American property markets have become a growing force on the international property investment scene, along with many neighbouring countries, Costa Rica's real estate market is in the throws of a major boom. Setting Costa Rica apart is its incredibly peaceful and stable democracy and society. Costa Rican President Oscar Arias, won the Nobel peace prize for his efforts in bringing peace with Nicaragua and El Salvador in 1987 — a good thing since the Costa Rican military disbanded in 1948. An environment of peace is endemic of low crime rates and certainly something which attracts investors towards Costa Rica when seeking out investment property.

Said investors won't be disappointed if that search takes them to David Stanley Redfern's website, where they will find the newly added Wyndham Garden development, Jaco Beach. One of the few titled beach front complexes in Costa Rica, Wyndham Garden is a 14 storey condominium of fully furnished 1, 2 and 3 bedroom residencies — prices start from £153,000.

Another attraction is the capital appreciation, in an article in The International Herald Tribune last year, quoted reMax agent, who, along with his family, has been selling property in Costa Rica for 13 years, Chris Mailloux said: "Lots that were once $50,000 are now $500,000. There's not a lot left that hasn't quadrupled in value in the last three years." He also mentioned the rising availability of new property, telling IHT that eight developments each of at least 20 homes are under construction in one abbreviated block near his office.

Also attracting buyers are rental yields of between 7-9% for larger 100sq.m properties, decreasing as property size increases. The first $2,698 of rental income is exempt from tax, and taxed at progressive rates of between 10%-25% after the threshold is reached. A good counterweight to the rental tax when considering a Costa Rican property investment is: Capital Gains Tax is only paid on habitual (recurring) transactions — no CGT is paid on one off property sales.

Costa Rica also has low living costs in its bag of overseas property investment plus points, and next to no restrictions on foreigners buying or owning property -- the only restriction being the first 50 metres after the high tide line is public property, and the following 150 metres can only be leased to foreigners that have lived in Costa Rica for more than five years. That leaves plenty of room for foreigners drawn to Costa Rica's unique features, including: beautiful valleys, volcanoes, jungles, sun, sea and surf. Potential investors will also love to hear that Costa Rica is very secure, has great infrastructure, and investors can choose their favoured climate, by buying on the Pacific coast (warm), the Caribbean coast (warmer), or the central regions of the country (colder)

Of course having a coastline to the Pacific and the Caribbean oceans is another plus point for Costa Rica. And it doesn't stop there, analysts are tipping the Guanacaste province as the "next gold coast", and prices are quadrupling so you better get in fast. Call David Stanley Redfern today for a free no-obligation chat.

Find out more about Costa Rica investment property at:
http://www.davidstanleyredfern.com/investment-property/costa-rica/

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About David Stanley Redfern

David Stanley Redfern Ltd is an overseas property specialist, working directly with developers in more than forty countries. Most properties are exclusive to David Stanley Redfern Ltd, giving an unparalleled selection of resale and new builds. David Stanley Redfern Ltd is AIPP accredited.

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