It’s understandable why a large group of people imagine Costa Rica Beach Real Estate as an array of luxury homes. Beachfront property is expensive and can cost more than houses elsewhere, so there’s some logic to the assumption.. Though, diversity does exist in beachfront and ocean view properties. The array of empty lots, houses in different sizes and locations, and condos available near Costa Rican coastline create an opportunity for any beach lover to settle close to the water and at the right price.
In general, the Pacific coast of Costa Rica is much more popular than the Caribbean coast among expatriates. The provinces of Puntarenas and Guanacaste cover the Pacific coast all the way down to Panama, and together make up the second largest real estate region in Costa Rica. Early in the 2000s, value of property on the Pacific soared. Home seekers and investors flocked to the area to buy property. That is, until a massive downfall of the market in the late 2000s.
During the monumental collapse of the US housing market, coastal properties took the hardest hit. Real estate tens to be inelastic in Costa Rica, cost of a small portion brand-new condos, lots, and homes were slashed by up to 50%. While 4-5 bedroom beach houses usually $1,000,000+, fantastic oceanfront condos are available in the $300,000 range, and Costa Rica BeachReal Estate packages starting off at $350,000. Some people are able to find their dream house at an extremely low price.
Yearly costs on a condo, house, or property are much cheaper than other places internationally; however, there are certain costs that raise the prices on many great properties – especially in beachfront areas, where there is a higher concentration of wealth. Depending on the area, homes are usually gated and some have personal night guards. Almost every condominium project or housing community has security around-the-clock. Theft can be a problem in Costa Rica, so these forms of protection are mandatory for anything geared towards expatriates. Though such fees are minor considering property taxes in most developed countries, the costs should be acknowledged when researching Costa Rica Beach Real Estate.
Potential buyers must closely examine additional factors, especially in high demand areas . It is crucial to have a trustworthy attorney on site to help verify that the property and its water are legal, that the seller in fact owns the land, and other nuances that can arise when buying real estate in a foreign country.
Despite some tricky factors, at the end of the day, Costa Rica is paradise – and practical too. With an international airport just an hour away from the northwestern coast of Costa Rica, not only are beach popular beach areas accessible, but also infrastructure – like hospitals, shopping centers, grocery stores, etc. Now is the time to follow Costa Rica Beach Real Estate: prices are as minimal as ever and another boom is coming!
