Beware when Buying Real Estate!
Even for non-resident aliens, buying and owning real estate in Costa Rica is possible and can be quite profitable. There are restrictions on 50-meter coastlines (which is public domain) and on 150-meter coastlines (where a management plan is required). There is a lack of regulations in the Real Estate business, and as a result, it is highly recommended to work with a Buyer's Agent who will safeguard the interests of the buyer.
Prices for real estate are very attractive. Attractive houses in safe neighborhoods are available starting at $100,000. For extra expenses (real estate taxes, land taxes and stamp duties) add about 6% of the total investment. The closing fee for the lawyer is about 1.5%. It shouldn't be hard for an experienced Buyer's Agent to find safe investment properties which yield at least a 12% return. If you want to contact an agent of see some properties, click here.
Text and pictures by Angela and Jörn Malek. The team of 1-CostaRicaLink wishes you the best of times in our little paradise called Costa Rica.
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