Location: Costa Rica is located in Central America, just north of Panama. Bordered by ocean to the east and west, it is easily accessible by land, sea and air.

Population: The population is just over 4 million. Approximately two thirds of the population lives in the central province of San Jose. 

Climate and Geography: Paradise! Situated at approximately 10ø North latitude, Costa Rica’s west coast enjoys a year round tropical climate and is NOT threatened by hurricanes.  The east (Caribbean) coast is wetter and more humid. The Central Valley area is moderate and can be cool in the higher elevations. A ridge of mountains divides the country in half lengthwise, giving rise to numerous distinct micro-climates.  

Language: Spanish is the official language, but English is widely spoken. Much of the east coast has a unique Afro-Caribbean culture where English and Creole are spoken.

Getting There: There are two international airports in Costa Rica—one in the capital city of San Jose—and the new airport in Liberia. While San Jose is a 4-5 hour drive from the popular beaches on the northwest coast, Liberia is just 30 minutes away from beautiful Pacific beaches. Most visitors will prefer to fly into Liberia. There are great deals on all-inclusive charter packages (with direct flights) to Liberia, departing on Mondays and Saturdays from Toronto. Some direct, air-only charter flights are available. Continental and Delta Airlines fly daily to Liberia from Toronto with one brief stop. Continental connects through Houston and Delta through Atlanta.    

Government: Often referred to as the “Switzerland of the Americas”, Costa Rica has a long history of democracy. Costa Rica abolished its army in 1949 and directed    resources to health, education and social and economic development.

Foreign Investment: Costa Rica’s foreign-friendly investment climate combined with its highly-skilled  workforce,  is creating  the “Silicon Valley” of Latin America. Intel, Microsoft, GE, Abbot Laboratories, Continental Airlines, and Firestone Tire are just a few of the major international corporations that have already made huge investments in major production and distribution facilities in Costa Rica.  

Quality of Life: Costa Rica has the highest standard of living and the largest middle class in Latin America. The grinding poverty of many Latin American countries is thankfully absent.

Education: Costa Rica boasts a 96% literacy rate and a highly skilled, educated workforce.

Health Care: The public health care system in Costa Rica is considered to be among the best in the world. It’s responsible for a low infant mortality rate and an average life expectancy of 77 years.  Private health care is also available. State-of-the-art facilities and world-class surgeons provide elective and cosmetic procedures for a fraction of the costs seen in North America. This has led to the growth of a significant “medical tourism” industry.

Land Ownership: The Costa Rican Constitution guarantees the rights of foreigners to own land in Costa Rica. Most property is titled and registered in the National Registry (if it isn’t -don’t buy it). Title guarantee can be provided by U.S. Title companies and land transactions are in U.S. dollars. Professional property management is widely available to maintain or rent your property when you are away.

In most cases, beachfront property cannot be privately owned in Costa Rica. The “Maritime Zone” refers to  land within 200 meters of the ocean. The first 50 meters of this area is “Public Area” and public access cannot be restricted. The next 150 meters is available for government granted “Concession” or “lease” for specified uses (generally for 20-year periods). Concessions are routinely extended as long as the Concession holder doesn’t violate the previously agreed-upon terms of the Concession.

Affordability: Real estate in Costa Rica is a fraction of the cost of comparable real estate in the U.S. or Caribbean.

Taxes: Property taxes are very low at just 1/4 of 1% of the assessed value of the land. There is currently NO capital gains tax in Costa Rica.

Banking: Government banks provide deposit insurance. Interest paid on bank balances is tax free. 

Infrastructure: Telephone, hi-speed internet and transportation are readily available. Cars are driven on the right-hand side of the road and North Americans with a valid driver’s license can legally rent a vehicle and drive. No adaptors are required for electrical appliances or equipment.

Lifestyle: In Costa Rica  you can live for a fraction of what it costs to live in North America, and enjoy a better lifestyle!

Real Estate Agents: There are currently no licensing requirements for real estate agents in Costa Rica, so it is important to choose your agent wisely. Do NOT buy privately. Use a reputable, well-known company. International franchises such as Re/Max are governed by standards, rules and regulations. They will assist you in securing a lawyer to carefully research and register the title.  A reputable realtor will ensure that your deposit money is held in trust by an escrow company. An escrow company is a neutral third-party that holds your funds in trust and ensures that all documentation is in order prior to any transfer of funds to the Seller.  

For more information and referrals to the most trusted network of realtors in Costa Rica, please call. I look forward to talking with you!               

 Sherri Henderson  Re/Max Hallmark