Costa Rica Real Estate Market Report 2011

With the fall in the prices of Real Estate, there has never been a better moment to invest in Costa Rica, and now due to the changes in the market a new type of investor is emerging.

With the end of the  “no money down mortage age”, the current buyers are different; they are no longer the speculators and flippers. These new players on the real estate market have their own savings or genuine income, are serious buyers and they are very often near retirement age.

This client would much rather spend their valuable time enjoying a natural relaxing environment with all the comforts and amenities of a residential community. In other words it is not the adventurous investor that used to come as pioneers to dedicate their entire time to the design and development of their project; today buyers are looking for a product they already are familiar with, something that is already done. Already has permits and infrastructure in place, ready to be lived in or used an income generating property.

The new trend buyers are leaning toward are gated residential communities but, in contrast to North America, in Costa Rica the maintenance fees for residential communities are substantially lower, with much less restrictions. The most common form of condominium in Costa Rica is the mixed use development, which consists of duplex homes, free standing homes, town homes as well as the traditional multi family building. Each individual home can be subdivided and independently registered to its owner. Los Delfines Golf & Country Club is a good example.

Contact Century 21 Beach Area Properties if you are looking for real estate in Costa Rica.


Use Professional to Purchase Property in Costa Rica

We highly recommend you to use a professional licensed realtor to guide you when you are looking for a property in Costa Rica. Some clients are under the impression you pay more if you use a broker. Well, this is NOT the case, first of all the Seller pays the commission and a professional knows how to negotiate the best price. Sellers in Costa Rica often have no idea what the real value of their property is. Owners are waiting for a foreigner with lots of money that will pay whatever they are asking. Unfortunately some foreigners did pay way too much for their property and property owners know this. Don’t make the same mistake > Do not think twice and get professional advice!

We at Century 21 Beach Area Properties go beyond just advice, being the first Real Estate company on the Southern Half of the Nicoya Peninsula we will give you all the information you need with regards to real estate, life in Costa Rica, banking, residency, cars, traveling, taxes, insurance, rentals, health care and much more. It is more than just buying a property if you never lived in Costa Rica before. We will also only show you properties that have clean title as we perform a due diligence study before we list the property, we check if there are any liens or annotations on the property. We will give you all the information you need with regards to the property and will recommend you to use your own attorney for legal advice. We have worked with lots of attorneys and notaries and from experience we know the ones you should use and ones you should not. We will make the written offers and contracts which will be reviewed by yourself and your attorney before we present it to the sellers. Using our services will guarantee you to have a smooth, safe and secure purchase!

We always recommend you to first travel through Costa Rica so you can decide where you would like to have a property. We at Century 21 have offices throughout the country. Pura Vida and have a great day!