Real Estate Property in Costa Rica

Costa Rica? Si, Muy Rica.

First Published Date: July 18, 2009

It would probably take most people quite some time to guess which country recently finished top of the pile when Happy Planet decided to list the happiest countries in the world. Admittedly amid a recession it may not be easy for anyone to guess, because the impression we are generally led to have is that everyone in every country is walking around under a massive dark cloud. It appears, however, that one place in which people are smiling their broadest smiles and talking about the future with optimism is a country with a name that – at least presently – seems perfectly appropriate. Costa Rica – “the rich coast” – is being touted as the place to be. It is green, it is thriving and it seems that nothing can wipe the smile off its face.

To buy real estate property in Costa Rica currently is to join in with an increasing number of American and Canadian citizens who are drawn by the promise of Paradise on Earth. It would be easy to point fingers and laugh at the hubris, the cliché, but unless there is something in the water in San José then it would appear that this is a country with an awful lot going for it. Certainly it appeals to more and more people as time goes on, and business investment as well as real estate are both seeing money being pumped into the country. The fact that there are tax breaks for foreign investors surely doesn’t hurt, but you don’t need to come from elsewhere to see the benefits of Costa Rica – when surveyed, Costa Ricans themselves revealed the highest life satisfaction in all the world.

Property prices for a condo are, in general, slightly lower than you would pay for one further north, with the added advantage that property taxes are low in Costa Rica as a means of attracting external investment, but it is in the housing market that you will really see your dollar go further, with houses of real beauty and luxury in splendid locations costing on average half of what you might expect to pay for similar in the United States. The cost of living in Costa Rica is reassuringly affordable, too. This may have something to do with the fact that the country long ago disbanded its military and puts every penny that would have gone into it towards social programs. As a result healthcare and public services are extremely good.

If you have the patience to live in a country that seems to be a lot more relaxed than most, yet doesn’t fall down on getting things done efficiently and effectively, and can speak Spanish (English is spoken here and spoken well, but it would be a shame to come to somewhere so welcoming and not assimilate at least a little), then Costa Rica is a place worth investing in. The work/life balance is pitched just about perfectly for anyone who likes to enjoy themselves but knows that this is only possible through earning the money to do it.

To streamline and minimize blog maintenance, I will be discontinuing maintaining the realestateexpedition.com website (however, I will still hold the domain). I will gradually move all articles from this site to A Dawn Journal. This article originally published on the above website on July 18, 2009.