Costa Real Estate
Costa Rica is a renowned spot for vacation, investment and retirement. The beauty of this country speaks far beyond its magnificent beaches, rugged mountains, great weather but natural beauty is reflected in the warmth of the Costa Rican people. Costa Rica is now becoming the hottest destination in the world and the real estate industry is experiencing a boom.
Costa Rica unlike many countries does not have any restrictions when it comes to foreigners having property rights on real estates. Costa Rica provides foreigners the same legal rights as of the Costa Rican community; these are protected under the Constitution of Costa Rica. When purchasing real estate in Costa Rica the buyer has to go through proper procedures and use trustworthy agents to procure their property. The legal system in Costa Rica is based on the civil law system. Transactions of property differ from the common law system therefore its necessary for foreigners to get proper advice regarding investments. To ensure that the transaction is legitimate and the advice obtained is honest, the buyer has to work with a buying agency. The buying agency will help to monitor the whole transaction and they need to have access to reliable lawyers, surveyors, engineers.
When investing in real estates in Costa Rica titled properties has to be registered under the National Registry. If a property is not listed in the National Registry, it should be avoided. During an investment in a real estate in Costa Rica, both taxes and fees have to be paid to the municipality and federal government. The amount could vary from one place to another but would be much lesser when compared to U.S.A. Investments in real estates in Costa Rica along the coastal line falls under the Shoreline Zone Law which states that 50 metres above the high tide line is considered as public property and no property can be built on that. From 150 metres the land can be leased for private usage. Before considering investing in real estates in Costa Rica along the shore, its advisable to contact the municipality.
Condominiums are good way of investing in real estates in Costa Rica although they are somewhat a new concept to the area. Investments in real estates in relation to Condominiums are profitable for a person who is looking at staying for a longer period or someone who would have the idea of renting it to make an income. Condominiums are on the rise and seen as a lucrative deal.