Costa Rica is a paradise with beautiful beaches, exotic forests and unique nature. That is why this place is considered an attractive destination for buying real estate. Purchasing real estate in this country has its own characteristics and advantages that make this process interesting and profitable. Please note that each interested party can select real estate on https://puntauvarealty.com.
Primary requirements
Foreigners have the right to buy property in Costa Rica under the same conditions as citizens of the country. There is no need to have a residence permit or citizenship to purchase a house or plot of land. It is recommended that you conduct thorough due diligence before making a purchase. It is necessary to verify ownership rights, debts, encumbrances and other legal aspects. At this stage, you should contact a local lawyer who will help you avoid possible risks and protect your interests. If necessary, you should also get help from specialized real estate agencies.
When purchasing property in Costa Rica, there are tax obligations to consider. The buyer must pay property transfer tax, which is 1.5% of the value of the property. There are also annual property taxes that vary depending on the value of the property.
To conduct financial transactions for the purchase of real estate, a foreigner will need to open a bank account in one of the local banks. This will simplify the process of transferring funds and fulfilling financial obligations.
Factors for the right choice
Costa Rica offers a wide selection of real estate in different regions of the country. When choosing a location, you should consider your personal preferences and goals. For example, for beach lovers, homes on the coast, such as the Pacific or Caribbean, are suitable. For those who value silence and solitude, mountainous areas or places in the interior of the country are suitable. In Costa Rica you can find different types of real estate: villas, apartments, houses, plots of land, commercial real estate. It is important to decide on the type of property that suits your needs and budget.
When purchasing real estate, it is important to pay attention to its condition. It is recommended to conduct an inspection of the facility with the involvement of specialists who can assess the technical condition of the building and infrastructure. This will help avoid additional costs for repairs and maintenance.