People believe that living in Costa Rica is very cheap but actually it's not as cheap as it sounds. There are lots of things that depend on the cost of living in the country. So, what are these things?
If you don't have any belongings in this country, then moving here would not be as much cheaper as you think. You will need to spend a lot of money here to buy all the things you need. So, it's better to bring all the necessities to save some dollars. If you are thinking of settling in Costa Rica then one thing you should definitely keep in mind is that you must get health insurance in the country. It is actually mandatory in the country and having health insurance is quite cheaper also, if it is compared by the developed countries. Finding a suitable place for housing is the biggest challenge one can face before moving to this country. First you have to find a good real estate agent and then you should finalize the place according to your requirements. If you want to get settled in the urban area rather than rural, then you should be aware that housing in urban areas are much more expensive than in rural areas. Before permanently settling in the country, you should come and visit the country first. Decide everything, analyze everything and do proper planning and homework before moving permanently. If you have a tight budget then don’t take a house near the beach areas because houses there are quite expensive if you are the tropical lover who’s really want to living in beach areas choose Developing communities for permanent settling.
There is points why you should come to Costa Rica for tropical living and Invest here
There is points why you should come to Costa Rica for tropical living and Invest here
1. Real Estate Market In Costa Rica:-
The real estate market in Costa Rica has been increasing rapidly for the past 10 years and according to the experts it is going to increase more for a few years because of its increasing popularity towards the tourists and its living cost and its modern lifestyle. Costa Rica is also very famous for its natural attractions and peaceful areas. That is why many people suggest this country to settle down after their retirement.
2. Real Estate Market Benefits:-
The real estate market in Costa Rica has been boosting gradually. For the past ten decades the market has drastically changed because of the country’s improving popularity amongst people. The property is not that much cheaper than it used to be ten years ago but it is still very much worth buying because the price of the properties in the Costa Rica is going to be very high. The increase of the price of the property in Costa Rica is guaranteed by the experts and it is also continuing to do so for many coming decades. Many people who bought and purchased the property in Costa Rica have seen that the price of their property hiked double and in the developed areas especially near the beach ones triple in just a few years. It is a place where people are attracted to purchasing the property. So, if you are also planning to do that, then here’s your time.
3. Attractive Location:-
The most important thing that everyone should keep in mind before buying any property in Costa Rica is the location. Costa Rica is a place of natural beauty, some beautiful scenic views and amazing beaches. So, if you want to buy any property here, you should keep these things in your mind. This is the reason why many 5 star and noted brands are opening in the country. Plus it offers you one of the best hospitality experiences. Gaming is also legal in the country which is why people who love gambling are also getting attracted towards Costa Rica. People often go to Las Vegas for all these things but Las Vegas is quite very costly compared to Costa Rica. So, if you have a limited budget and you want to have all the fun in the world then Costa Rica is the place. You don’t have to worry about spending lots of dollars.
4. Best Deal for Investing:-
Because of the increasing popularity of the country the land and property price here are increasing tremendously. Prices are hiking both the urban and even the rural areas properties. People who have invested in the real estate market here in the past few years got really high returns of their property. The price of the market has increased by double its price in a few years and people who are having the house in a porch area especially near the beach ones then their properties have increased by triple its price. The real estate experts in the country have suggested that it is the best time to buy the property in the country because the increase in price of the property is going to continue like this for a few more decades. You have to simply buy the property and it will give you high returns more than the money you earn from your ordinary job.
5. Popular Amongst Pre-retirees:-
Costa Rica is increasing its popularity very fast amongst the people who are going to retire soon. Because of its attractive areas and peaceful environment, the soon to retire people are thinking of settling down here. The high standard of living in Costa Rica is possible at a really low cost if you compare the cost with a developed country. People want to live a high standard of life style with their little pension because usually the lifestyle of any person gets decreased after leaving the job. Of course this change is not liked by anyone. So, to maintain the high standard lifestyle in a limited budget many people opt for moving to Costa Rica. The natural beauty of the country and its pleasant environment is an added advantage.
6. No Headaches for Foreigners:-
Buying a property in any foreign country is quite a headache and requires a lot of paperwork, plus it is very time taking procedure as well. But buying a property in Costa Rica is not that much of a problem. Any individual, people of private companies for doing and growing business, people from anywhere can easily buy a property in Costa Rica. There is a simple procedure and few steps in the registration buying properties for foreigners. Yes, there are few restrictions also for foreigners but those are really minor ones. This is also one of the reasons why foreigners are attracted towards this country. Many people avoid purchasing any property out of their country because of complicated law and orders for foreigners for that country but Costa Rica is unlike all of them.
7. Trustworthy Process:-
The process of purchasing a property in the country is very transparent and trustworthy. People of Costa Rica are very helpful and the number of crimes of cheating any visitor is very low in the country. Lawyers are also very trustful and truthful to their customers and you can fully trust them. Lawyers are really helpful and will give you the right direction to become an owner in the country. The process is simple as well as mentioned above too and the lawyers can handle all the things that are required. The first step is for the lawyers to go to the National Registry for a title search. The National Registry in the country has the list of every property in the country with their details and availability.
8. Low Taxes :-
The property taxes for buyers in Costa Rica are unbelievably low. The average property tax is ¼ of 1% of the property’s assessed value. A lot of the time the registered value of the property you want to buy is very different from what you will have to pay to buy that property. You have to pay quite less and it happens most of the time that the prices are completely in the buyer's favor. In other countries the taxes are really high for foreigners, if you want to purchase any land and property. It is almost equal to the price of the property itself but in Costa Rica there is a lot of good news for buyers. Easy registration and procedure, transparent people and series of steps, less paperwork and last but definitely not the least surprisingly low taxes.
9. High Economy :-
The current GDP of Costa Rica is about 8%. The government is planning to make Costa Rica the Switzerland of Central America by its policy and growing GDP, tourism and invested friendly environment. Many large companies have started setting up here for example Acer, Microsoft, GE, Abbott Laboratories, Proctor and Gamble, Dole, HP, Continental Airways and Intel Corporations. Western Union has chosen Costa Rica for its Central American regional operation centre. Costa Rica has a history of earning more from coffee, bananas and its tourism than high technology exports. Costa Rica also has excellent economic health. The Human Development Index in Costa Rica is also growing steadily. The unemployment rate in Costa Rica is only 6%. Because of all the above reasons, Costa Rica has seen tremendous growth in its population and the reason for increasing population helped the country in creation of jobs and industries.
10. Tourism:-
Tourism is the best business in Costa Rica. The average visitor in Costa Rica for travel and tourism is 3.5 millions. For the past decade the country has seen the increase of tourism at the rate of 8% per year. Costa Rica is one of the countries amongst the 10 countries in which experts have guaranteed in the increase of tourism for the next 5 years. 50% of Costa Rica visitors come from the USA and Canada. The reason being that is these countries are near Costa Rica and somewhere have a similar culture to Costa Rica. Because of its increase in Tourism industry, a number of big brands of hotels opened their branches here. For example Marriot, Four Seasons, St. Regis, Hilton and Mandarin. In most of the cases, when people come for the purpose of travel here, they like the country and after knowing about the cost of living here they plan for the permanent residency. They go back to their country, finalize everything and come to live here.
11. CAFTA:- Central America Free Trade Agreement
CAFTA (Central America Free Trade Agreement) is Costa Rica's free trade agreement. The real estate market of Costa Rica will remain the safest and most attractive in Central America. Government is offering many free trade zones and less tax on holiday plans for the tourists. Because of all these attractions, foreigners start feeling like home despite such a vast culture.
12.Low Cost, High Standard:-
If you want to live your life like a millionaire but you actually don’t have a million dollar. Don’t worry, come to Costa Rica and live like one. Costa Rica's currency is much lower compared to other developed countries' currency and the cost of things is low as well, except for the electricity bills. That is the reason Costa Rica is becoming a new hot spot for investment and staying. You can have a nice place to stay, easy transportation, health insurance, and entertainment activities for just a few dollars a month. The average lifespan of humans in Costa Rica is also higher than other developed countries which is a person having a normal life of about 79 years of age. The reason behind this is the life of people in Costa Rica is much more relaxed and easy going as compared to other developed countries.
13.No Military Force:-
Costa Rica is a very successful democratic country but it doesn’t have any military force. Costa Rica has the most stable democracy in Central and South America. There are very few countries in the world which don’t have a military force and Costa Rica is amongst one of them. Because Costa Rica doesn’t have any military force, this also helps in maintaining the high economy of the country because a lot of investment is required for setting up a military force which is very expensive for any country. Costa Rica is a place of peaceful environment, easygoing lifestyle and peaceful people. The last president of Costa Rica was Oscar Arias and he is Noble prize winner for peace.
14. Easy Place to Relocate:-
Because of its easy government policies in the real estate market, attractive natural locations, natural scenic beauty, peaceful environment, friendly people and low cost of living make Costa Rica a convenient place to relocate and visit.
15. At all on that’s, Where to live in Costa Rica:-
After knowing all the pros and cons about living in Costa Rica and especially it’s tropical areas like Beach or nature’s lap, if you are being enthusiast or planning for retirees here in terms of residential or commercial set up in additionally if you’re not a big cat in financial terms you have opportunity for living here. In Guanacaste, The Developing Colinas del Sol, Just 15 minutes from beaches as located Palaya Hermosa, Matapalo, Ocotal and Palya del Coco, and 30 minutes from la- Liberia International Airport, a beautiful gated community invites people to join the community, lots are available here at easy price and also at up to 85% finance.
Source- Why Costa Rica
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