|Christopher Howard is author of The New Golden Door to Retirement and Living in Costa Rica now in it's 15th edition.
Let's take a look at what's made Costa Rica so attractive for both tourists and investors. First, the climate is perfect all year long and the scenery is absolutely stunning. The country is virtually a nature lovers Disneyland and very user-friendly for Americans. All this only two hours from Miami.
The same features that attract tourists also draw savvy investors to the country. Costa Rica is Latin America's oldest democracy; it has NO army; it boasts free health and education; Investors also like the low property taxes, economic stability, its current president, Oscar Arias, won the Nobel Peace Prize in 1987; estate agents who speak English, international schools, private hospitals and best of all returns in some areas averaging 300 per cent over the past 10 years. All of this this has caused rapid development west of the capital, San José, and along the length of the Pacific coast.
The pace of development has been incredible the last couple of years. Construction increased over 50 percent last year alone, especially along the Pacific Coast. In one 50-mile stretch of the Pacific coast alone over one billion has been invested and prices of detached large homes condos have gone up four times in the last couple of years.
With values going up so quickly some people have flipped properties and done very well.
Costa Rica - One of the Top Five emerging Real estate Markets in the World!
Successful real estate investors are well aware that one of the fundamental keys to building a successful property portfolio is the careful timing of market entry; therefore investors always seek to buy ahead of an emerging trend and often take a national or international perspective when looking for the next big thing in terms of real estate.estors certain tax breaks and incentives to commit to the country.
As Costa Rica is already one of our preferred emerging markets to watch potential investors who were wondering whether the time is right to invest in Costa Rica may should strongly consider the number of good things that are happening in the country now.
First , Intel has announced it will invest one hundred and twenty million US dollars to improve and expand their Costa Rica plant. The direct investment will help create five hundred new jobs which will directly assist the local economy and help boost the appeal of commercial property in Costa Rica.
In addition, the Costa Rican government announced an easing on immigration restrictions for investors, employers and key employees means that the country just became an even more attractive prospect for companies looking for a more tax efficient, lower cost location for their operations. This will likely have a direct effect on the demand for commercial property, it may well boost demand for residential property in the main Costa Rican towns and it will undoubtedly raise the profile of Costa Rica globally
Summary of Reasons to Live or Invest in Costa Rica
- Year-round spring-like weather in the Central Valley
- Untarnished international image. How often do you hear bad things in the news about Costa Rica. Only good news!
- Latin America's oldest democracy
- NO army and NO terrorism. Costa Rica has NO enemies.
- Excellent health care at a fraction of the price you would pay at home
- Good real estate investments. Costa Rica is considered one of the world's best emerging real estate markets. Many properties are in locations with breathtaking views
- More North American residents proportionately than any country in the world
- A tightly-knit expatriate community
- Time-tested organizations in place to help you with everything you need to make the move from A to Z.
- Excellent quality of life
- Good communications with high-speed internet in many areas
- Tax savings
- Opportunities for entrepreneurs
- Affordable utilities
- Friendly people
- Many people who speak English
- 1000s of activities to stay busy and happy
- A nature lovers Disneyland
- Affordable hired help
- The beauty of the country
- Fantastic beaches with warm water
- Latin America's #1 tourist destination according to Travel Weekly magazine
- Many American products and services available.
- Fruits and vegetable all year.
- Good public transportation
- And many intangibles more