For decades now, expats, investors, and retirees have flocked to Costa Rica in search of the some of Central America’s best real estate. Today, Costa Rica’s property market has skyrocketed in foreign demand. This trend is expected to continue.

 

Best Property Prices In Costa Rica

 

Real Estate deals and bargains in the inner regions still do exist.  San Ramon as it is a well planned, little and quaint town to discover, with a climate that may be close to perfect. Still, for the beach life you can find prices in these ranges:

• In Tamarindo; a 200 m2, 4 bedroom house with pool: $255,000

• In Quepos, one of the top beach locations in Costa Rica; a 125 m2, 2 story, 2 bedroom condo: $150.000

• In Jacó, a main beach town in Costa Rica; a 150 m2, 2 bedroom condo with pool: $150,000

 

Costa Rica Property Laws For Foreigners

 

There is a great advantage for foreigners when considering the purchase of real estate in Costa Rica. Here, expats have the same rights as the locals for most types of real estate. That means you can own property to your name or in the name of a corporation, and you don’t need a local partner. The only exception to this rule has to do with beachfront concession property, as other laws apply to this case.

 

Buying Property In Costa Rica

 

Today, most of Costa Rican properties need registration in a national system called “Folio Real”. This system will show all of the property’s data, and a search is advisable prior to consider an offer to buy. Of course, there are a few properties that may be not listed, but they still could have a record in the Public Register.

 

Buying land, there are usually two types of property rights: Ownership rights (derechos de propiedad) and Occupation rights (Derechos de Ocupación). Occupation rights mean unregistered land that cannot title-searched, and that must be registered. You should be aiming at buying a land already registered and ready to deliver ownership rights.

 

Types of Costa Rican Real Estate

 

Fee Simple

As the name suggests, it’s the most simple and complete form of real estate ownership in Costa Rica. The conditions are the same for nationals and foreigners. This gives the owner total rights on the property and give it the use they see fit.

 

Concession property and the Maritime Zone Law

Commonly known as beachfront property in Costa Rica. The government issues a time-limited concession for a private party, similar to a lease. These leases last usually 20 years, and many leases can be acquired. As long as the owner doesn’t violate any of the concession terms (like respecting green zones, or building accordingly to the terms) and pays the annual fees, the government must renew for another 20 years. 95% Beachfront property in Costa Rica is handled this way.

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