The impact of the economy on Costa Rica real estate

February 10, 2009 - Although the world is struggling financially, real estate opportunities in Costa Rica are driving the economy forward, and its history as a safe country makes people eager to invest.

Of course, Costa Rica has been hit by the economic crisis as well; however, the ramifications have been manageable and moderate. In fact, while the economic crisis has affected just about everyone, Costa Rica managed to increase its economy!

Without hesitation, investors are choosing Costa Rica for investment residences and others for retirement reasons. Since the Costa Rica real estate market is based on the United States dollar, investors won't feel the pinch and European investors are more likely to invest.

Foreigners are eager to buy because most real estate in Costa Rica has simple fees; property taxes are 0.25 percent of the property's registered value and closing costs are approximately 3.5 percent of the purchase price. Foreigners property rights are equal to those of Costa Rican citizens, which is not always the case in other countries.

Any outsider would say that it's unrealistic to think that Costa Rica real estate could escape the effects of such a complex situation, but investors have learned that Costa Rica has generated a financial system so strong that the impact of the crisis is hardly visible.

This is one of the most important factors that has attracted investors to purchase houses. Real estate companies are getting demands online, and some are willing to make their purchase over the phone without seeing what they are buying.

Costa Rica has shown itself to be a Purchaser's Paradise and a marvelous place for those wanting to invest. Regardless of the decreasing economy in the United States, the real estate market in Costa Rica is growing faster than ever. Investors consider this Central American country as a gold mine.

We all know that the real estate market is shaky and the entire US economy is struggling, but this leads real estate investors to seek opportunities to invest without the risk of losing their money. Since Costa Rica is well-positioned and the cost of living is so affordable, investors sink their money in Costa Rica.

In a time when the big international real estate markets are proving to be a detriment for investors, Costa Rica is offering a haven for investors seeking serious investing potential and also a tropical paradise with reasonable prices to vacationers and retirees.

Bibiana Taylor has over three years of experience as a freelance writer. She has provided online content with multiple areas of expertise, including real estate, health, travel and relationships. You can contact her via email This e-mail address is being protected from spambots. You need JavaScript enabled to view it

 

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