Cost of Living in Costa Rica: Property Prices
Immigration to Costa Rica is becoming increasingly popular among foreigners. Many tourists from Europe and the USA visit it not only for the purpose of recreation. In this country, it is possible to make a dream come true and to acquire a house in close proximity to the ocean coast, in a unique natural oasis with white sandy beaches and healing thermal springs. It is profitable and promising to have your property in such a paradise. You can choose from any of the Caribbean or Pacific coasts, there is a lot of free land on any of them. You can choose completely pristine places, you can settle near citrus plantations.
There are many options for buying real estate in Costa Rica. It all comes down to the size of the financial investment that you want to invest in and the choice of the location of your future home. For example, real estate far from the sea, all other things being equal, will be somewhat cheaper than coastal ones. Although on the territory of such a small state as Costa Rica, the most remote settlement is located no further than 120 km from the coast.
Plot of land
If you want to save money, you can purchase a plot of land for further development. This, as a rule, is associated with a certain degree of risk, because a plot sold at bargain prices may ultimately not have a building permit due to ownership or proximity to a national park. If you want to protect yourself from such an extreme, there are a huge number of more expensive offers, but with an acceptable degree of reliability. It is better to once invest some, albeit rather large, amount and enjoy a carefree existence in your own home, deducting a small real estate tax to the state of this country, which is about 1% of the cost of a home.
Home value
Costa Rica’s real estate market offers a wide range of homes, ranging from small and modest buildings to multi-room luxury villas with cascading pools and a plot of several hectares. The proposals are limited only by the imagination, plans, and financial capabilities of the buyer. You can buy a house at a bargain price not only on the coast overlooking the ocean but also in the central part of the country, near major cities.
Prices for the purchase of apartments
Those wishing to emigrate to Costa Rica should consider their own home. Not every immigrant can afford to buy a house on the coast, but you can buy an apartment at an affordable price. At the same time, foreigners note the high quality of construction, due to the use of the most modern materials and technologies. The value of the property will vary depending on:
- Size;
- Proximity to the city center;
- Region;
- Year of construction.
An apartment in the center of San Jose will cost the buyer about 1.5-2 thousand US dollars per square meter, and on the outskirts of the city for similar housing will need to pay only 1-1.2 thousand per unit area.
Commercial property prices
Unlike other countries in Latin America, Costa Rica has achieved a fairly high standard of living. These conditions contribute to the development of business in the country, therefore, commercial real estate is in demand and is able to bring the owner a stable and decent income. The massive flow of tourists seriously increases the profitability of catering establishments, hotels, and entertainment centers. Therefore, the profitability of such business objects directly depends on their location.
