Real Estate in Costa Rica

"We live in Samara on the Nicoya Peninsula. It’s a really wonderful little beach town. Lots of good restaurants. Mostly CR population but also quite a lot of expats. Super nice beach. Near large town of Nicoya for convenience. Good roads - important! Our landlord has a new construction house available 2 BR/ 1 BA for $1,000/month. We are three miles from town and the beach. We seriously love the area and our landlord is wonderful," said one person in Costa Rica.

"Costa Rica is a great place to live and there are many options for finding a suitable location to call home. A good first step is to research the areas of the country you may be interested in and determine what type of lifestyle and accommodations suit you best. You can research online using resources such as TripAdvisor, Airbnb, and Craigslist to get an idea of what is available in each region. Additionally, there are a variety of real estate agencies located throughout Costa Rica that can help you find a suitable living space. Ask around for recommendations and make sure to select a reputable agency. Finally, you can reach out to the expat community for advice, as they are generally well informed about housing options," said one expat who made the move to Costa Rica.

"I was basically told in what area to live. Most expats live in Escazu, Santa Ana or Rohrmoser. Then I went with several agents to look at possible apartments. After that you start haggling!!! (Hagglig is essential. I have seen houses come down from 4500 USD a month to 2500.)," explained one foreigner living in San Jose, Costa Rica.

"Most expats live in condos or houses with small gardens and enormous fences with barbered wire," said one expat in San Jose.

"Condo with high security. However we never feel fearful walking at night to our favorite restaurants or store as their are guards everywhere. This is true pretty much everywhere we have been in CR. We have always felt very safe (unlike dealing we the herds of homeless drug addicts in CA)," remarked one member in Escazu.

"Much, much lower. I wouldn't pay more than $300 per month in rent for a house in this area," remarked one foreigner who made the move to San Marcos, Tarrazú.

"Totally depends on many factors. Are you looking to rent or buy? How many bedrooms? City or country? Altitude, I.e., beach or mountains? Seasonal only, or long term? Hot water or not? Window screens or not? With Ticos or Gringoes? AC or not? Furnished or not? Close to hospitals and good medical or remote? Want views? What kind? Utilities included or not? Finished or under construction? Will you have a vehicle, and will it have 4WD? Are you ok with public transport (it’s excellent). Pets? You can see there are many possible answers to your question! We chose mountains with Nicoya Peninsula views, good infrastructure, home built to American specs with quality materials by reputable builder, hot water, screens, electric gate, and all in a Tico community of great diversity. City is only 3 kms away over the mountain. Pulperia up the street where we all hang out to watch futball! And we drive a 21 yr old SUV. Love Costa Rica," explained one person living in Costa Rica.

"Buying a home in Costa Rica can be a great investment. It can provide you with a steady source of income through renting or reselling, while at the same time providing you with a beautiful tropical paradise to call your own. Renting, on the other hand, gives you the flexibility to move after a few months or years without having to worry about reselling or waiting for the real estate market to improve. Ultimately, it all depends on what your individual needs and preferences are. If you want the security of owning a home, then purchasing may be the best option for you. However, if you prefer the freedom to move around, then renting might be a better solution," explained one person living in Costa Rica.

"I rent because I do not want to be tied down to a piece of property. Also property is expensive. My rental agreement was easy to understand, only about 4 pages (2 of them inventory of furnishings). I negotiated the terms from 12 months to 6 and the rent amount. It was not difficult at all," said one expat in San Jose.

"Know the neighborhoods and price ranges is key! Spend as much time as possible in your desired area or neighborhood. Go at night especially. Is the neighborhood safe, noisy, close to a nightclub? If you want to live in a condominium complex, observe the type of clientele it attracts in their rental pool. And in this case, find out how much turnover there is (daily, weekly, monthly) As Jaco is a tourist town, make sure your visit your desired neighborhood during "high season" and especially Easter and Christmas holidays as the busiest two weeks of the year," explained one person living in Playa Jaco, Costa Rica.

"Travel around and find the area you want first. Use tools like www.vrbo.com to see what the rental rates are in the area you are interested in -- and be sure to look at the calendars of availability to see how well they are booking. Visit the forums like Expat Exchange or Costa Rica Living and ask plenty of questions. Compare listings from a variety of sources and use tools like Google Translate to look at listings in Spanish as well. Seek the advice of folks like me -- make sure they have bought and sold for themselves and don't just have a good imagination," said one expat in Southern Pacific region of Costa Rica.

"1. Buying property in Costa Rica requires a local lawyer, who can help you understand the local laws and regulations regarding ownership, transferal of ownership, local taxes, and property rights. 2. It is wise to hire a Costa Rican lawyer and real estate professional to advise you on the purchase of property and to ensure the transfer and registration of property are done correctly. 3. Consider due diligence, which involves researching the property’s title, surveying the land, and verifying the seller’s legal right to transfer property. 4. Make sure you understand the foreign ownership limits in the country, which are designed to protect the rights of local people in land ownership. 5. It is important to familiarize yourself with the local customs and laws regarding property ownership, including Costa Rica’s Title Guarantee Law, which requires all property to be registered with the government to ensure legal proof of ownership. 6. Property taxes in Costa Rica are typically paid annually and are based on the assessed value of the property. 7. Make sure you understand the process of obtaining residency and work permits, if needed, as the process can be complicated. 8. Make sure you understand the potential liabilities and responsibilities should any problems arise after you purchase the property," said one foreigner living in Costa Rica.

"Don't buy. For some reason that I suspect is emotional expats almost always want to buy property, but it doesn't make a lot of sense. It's much easier and cheaper to rent. There's also the widely reported statistic that some half of the expats leave the country within the first year of arriving--and stories abound of those who bought homes taking a huge loss when they sell. There are also a fair number of problems with property theft--your house is sold out from under you without your awareness. Give yourself a few years in the country to become acquainted with the customs and the neighborhoods before you plunk down money you may regret," explained one expat living in San Jose, Costa Rica.

"The only restrictions on foreigners purchasing property in Costa Rica are in the Maritime zone within 200 meters of the ocean. This area is not for sale though you can get a concession to build things like tourism projects on a leasehold type basis. Expats typically can't get concessions although some grandfathered properties are still privately owned. Expats otherwise have the same rights to property ownership in Costa Rica as a Costa Rican would have. Property ownership is deeded and fee simple and over 95% of the entire country's properties are registered in a national property registry," explained one person living in Southern Pacific region of Costa Rica, Costa Rica.

"Yes, foreigners are allowed to own property in Costa Rica. The country has a long-standing tradition of welcoming foreign investment and has a legal framework in place to protect foreign property owners. Foreigners can purchase property in their own name, or through a corporation, and can also obtain long-term leases. In addition, Costa Rica has a number of incentives in place to encourage foreign investment, such as tax exemptions and other benefits," remarked one foreigner who made the move to Costa Rica.

"No I don't think so. If any, I may presume it is if you haven't yet applied for Temporary Residency (Rentista) though I don't know if that's necessary; check with a reputable Attorney," explained one person living in Costa Rica.

"No, foreigners can own property with the same rights as locals. However, I personally wouldn't buy until I had legal residency. Many nonresidents do buy and don't have any problems, but I'd personally want the right to live in the country before I invested money in it. Related is that absentee-ownership is asking for problems. Unless it's a condo at the beach with a rental program, I wouldn't recommend buying without living here, and I wouldn't count on living here without legal residency," said one expat in San Jose.

"In Costa Rica, the typical appliances found in a rental property include a fridge, stove, washing machine, and air conditioning. In some cases, additional items such as a dishwasher, clothes dryer, and microwave may also be provided. Utilities such as electricity and water will also generally be included in the cost of rent," said one in Costa Rica.

"Generally rental properties are fully applianced. Lower scale rental units will have the basics, no dishwasher, possibly only a stove top and not an oven. A washer may be included but generally not a dryer. On the higher end scale, these will be fully appliances with American style refrigerator, stove/oven, dishwasher, microwave and washer/dryer. Be especially observant if the condo complex has a community área with tables, chairs, sink/wáter availability, bathrooms and BBQ grill. This is especially attractive for entertaining friends and family," explained one expat in Playa Jaco (Jaco Beach).

"There are many realtors in Jaco so finding a real estate agency is easy! I recommend Keller Williams. All realtors have listing pages on their business window so simply walking thru the city and looking at listings in this manner gives a buyer a good education on what your money will purchase. Another very attractive way to find property is thru real estate listings on Facebook. There are multiple sites offering seasonal and full time rentals along with homes for sale. Don't discount "Word of Mouth" either! Frequent any restaurant/bar that the expats gather and let it be known that you are looking! You will get many responses and in a city of 12,000 people the word travels quickly," explained one expat in Playa Jaco.

"Expats typically search for homes in Costa Rica by looking online for real estate listings, contacting local real estate agents, and networking with other expats who may have knowledge of the local housing market. Additionally, expats may look for housing through online forums and social media groups dedicated to expats living in Costa Rica," explained one person living in Costa Rica.

"Many would advise going through a realtor and that's probably wisest if you don't know your way around. The native way to look though is to just walk the neighborhoods you're interested in and look for "for sale" signs. Related is to check grocery store bulletin boards. A lot of housing is still found in these traditional ways. Now the online site encuentra 24 is probably the best classified ad system and you're certain to see dozens if not 100s of listings that meet your search parameters by using it. It's like Craigslist but without the scams and a lot more people use it," remarked one foreigner who made the move to San Jose.

"There is no multiple listing service in Costa Rica, but it is emerging now. There are a number of US real estate companies that have licensed offices in Costa Rica, for example REMAX and Century21. The best way to find property is to use the internet, take tours, visit communities, talk to other expats, read the online English forums and beware," explained one person living in Southern Pacific region of Costa Rica, Costa Rica.