Costa Rica Real Estate Overview

Costa Rica has a few main industries that support the economy, most of which are agricultural. However, in the past couple of decades, Real Estate has risen to the top, as one the major means of income. This is not by coincidence or shear luck, rather the fact that Costa Rica offers a great location, relative safety, and an investor friendly environment.

If you are considering moving and purchasing, or building a dream getaway, or or simply renting a place for a vacation, it may be helpful to have a little knowledge before you make the big decision to live or be an investor from afar. Knowing the real estate terminology can be very helpful, plus you need a basic idea of the overall process and costs that go along with real estate may be very helpful. Not to mention, you will be more likely to avoid real estate scams.

Premium properties have always been highly desirable, most of which are in coastal areas. From an investor point of view, why invest in Costa Rica. Well, for one, property ownership rights grant any foreigner the same ownership rights as Costa Rica citizens, so purchasing here is more popular than some other South and Central American nations.

Many people find Costa Rica's nature to be the main reason for them buying in a certain region, while others come for the beaches and the cheap cost of acquiring property. Knowing the importance of these attractive features, Costa Rica is quite environmentally conscious, with the hopes they will continue to draw tourists and real estate investors for many years.

It is good to know, that the real estate process is similar to the United States. For example, title insurance is readily available and is much the same as the U.S. regarding title companies and the policies they issue. In fact, the policies are offered by some of the companies that are based in the U.S.

Unlike the U.S., the fall in the economy has not affected the prices of Real Estate in Costa Rica nearly as much, and they have remained fairly strong showing a resilience to the downturn. That is not to say that Costa is immune, being the world economy certainly effects the market, but the drop has had a less severe effect on Costa Rica's real estate climate. This is the case especially when considering the areas such as Florida, California, and Arizona, which saw the huge inflation of prices and then suffered a rapid crash. This stability in Costa Rica may be due to the lack of financing available to foreign investors, thus avoiding the problems associated with over leveraging. Cash buying has historically been a much more stable form of real estate growth. Costa Rica has been very lucky to remain strong, and see such a growth in real estate industry. In fact, the World Bank accoladed Costa Rica's ability to remain level and projected positive prospects in 2010. CNN called it the happiest