Yes. If you look closely the vast majority of coastline in Costa Rica is now owned by foreigners. Anyone looking to expand their real estate holdings to Costa Rica should feel safe and confident when purchasing land in Costa Rica.
There are a few different ways real estate transactions are handled here in Costa Rica.
First find a reputable real estate agent and begin the search. Once you find the perfect investment you will begin with the “transpaso” which is the title change of property. All you need as a foreigner is an up-to-date passport and the good news is if you have traveled down to Costa Rica chances are you got through immigration with a valid passport. Once you are ready to make the purchase you can have the property in your private name or develop a company on paper that will hold the property for you. There are benefits to both. Check with your realtor and lawyer on which best works for your purchase.
You can literally buy land over a long weekend in Costa Rica making it as easy if not easier than buying in the US. The best part is in recent years anyone can have access to the National Registry and you can keep tabs on the “transpaso” and information involving your new property.
Is Buying in Costa Rica a Good Investment?
People always want to make a good investment. Anything that can produce 8% I think would be a no-brainer and anything higher would just be icing on the cake. Here is some quick reasons why we consider Costa Rica an excellent investment for property.
- It is a stable, safe, tropical paradise
- Property Values maintained during the 2009 recession
- International Market
With this said we do advise investors to be smart about their purchase. Like any investment don’t put all your eggs in one basket. Make a decision based on re-sale value even if it means sacrificing a few of your “wants”. Be smart when looking. Some people look for the perfect setting which is fine if you plan to make the property a personal home, you don’t have any intention on liquidating or a remote hotel but if it is money used for investing it should be treated as an asset you have access to.
Some of the better investments in Costa Rica will be at the more popular beach areas of Tamarindo in Guanacaste or Dominical in the Central Pacific. If you are not looking for the beach and want to invest inland you would be smart to look at Escazu. Now if you just want some land to hold on to then anywhere in the country is fine but understand it might take years to get your earnings.
If there was a sure investment we all would have our money in it. We always say the worse case scenario when buying property in Costa Rica is that you own property in a tropical paradise surrounded by some of the happiest people on the planet.