Costa Rica Real Estate a strong Pull For Americans

The Costa Rica Real Estate market is booming and the country’s popularity as a tourist destination has brought more people to invest in the Property in Costa Rica than ever before. Although the price of the real estate in the country has been rising, investors still have the opportunity to cash in on the country’s economic and cultural prosperity. Costa Rica is situated between Panama and Nicaragua and is home to almost 4.1 million of people. The country boasts about their literacy rate of 96% and has an unemployment rate of 4.6% and is widely known for its political stability. Costa Rica is the major tourist attraction for people from all around the world primarily the Canada and United States of America. Indeed, the tourism accounts for nearly 8% of its GPS and the number of tourist travelling to it is dramatically increasing. This tiny country which is only about the size of the West Virginia is very famous for its warm and sun drenched beaches and their beautiful tropical landscape and mountains. More and more people are taken with the country’s fabulous views and end up relocating here. The massive number of retirees from United States who choose to live in a tropical paradise like Costa Rica leave behind their pressures that has contributed a lot to the increase in the property prices in some coastal areas in the country. Costa Rican real estate has been continuously a good investment because of the country’s very stable political system and a growing economy. This has brought more Americans to come in the marvelous paradise of Costa Rica. rnThe Real Estate in Costa Rica touches properties both in coasts and around its capitol. The Costa Rica beach front properties have seen and there’s an increase in price over time. Most of the real estate in the country is fee simple. The property taxes are only .25% of the property’s registered value, and the closing costs are about 3.5% of the purchase price. The foreigner’s property rights are equal to those of the citizens of Costa Rica when they purchase fee-simple property. But there are some restrictions for those people who are interested on purchasing beachfront properties. Foreigners enjoy equal property rights with the Costa Rican citizens in most circumstances. Most of the Costa Rica real estate is registered with the Public Registry through a computer system known as the Folio Real. The real estate hot spot is the Guanacaste Gold Coast especially the 38 miles between the city of Peninsula Papagayo and Pinilla. Nearly 3,500 luxury and deluxe hotel rooms are on the Gold Coast plus the area is easily accessible to the tourists because of its proximity to the international airport in Liberia. The Costa Rica real estate is based on the US dollar which means that US investors won’t feel the pinch and more likely to buy. In the Central Valley and the Greater San Jose Metropolitan, strong growth is predicted even though the prices in the US keep adjusting downward.