Tips for Purchasing Investment Property in Costa Rica
Costa Rica has consistently performed in a favorable way in regard to investment property. In fact, there are quite a few opportunities to make money in this region once you have purchased property. However, finding, buying and making a profit on a real estate investment in Costa Rica can be tricky, which is why it is a good idea to use the tips here.
What are considered the best places to invest in Costa Rica?
Some of the most popular places to purchase an investment property include Puntarenas Provinces and Guanacaste, which are located on the Pacific coast. The resorts and beaches in this area provide a steady influx of tourists, which provides you with the opportunity to generate a pretty nice rental income. There are also a number of luxury homes in San Jose to consider investing in if you would rather be in a more metro area.
As a foreign buyer, can you purchase an investment property in Costa Rica?
There are no restrictions in place that prohibit foreign investors from purchasing real estate in Costa Rica. Also, you can choose to acquire the property in your own name, or the name of a corporation you set up in the country.
What is the actual process of purchasing property in Costa Rica?
Once you have made an official offer on a certain piece of property with a Letter of Intent, and the offer has been accepted, the Purchase and Sale Agreements will be created. After a period of due diligence, the closing will occur in front of an attorney or notary public.
If you are considering making an investment in Costa Rica, be sure you understand all the requirements of this purchase. This will help ensure you make an informed decision that will allow you to purchase property that will help you make money, both now and in the future.