The Top Reasons You Should Invest in Costa Rican Real Estate
People are racing to Costa Rica because it is one of the prettiest, safest, and most politically stable countries in Latin America. Costa Rica is not only a beautiful country with a diverse selection of things to enjoy, but it also has a strong economy, making it a good place to make financial investments.
There haven’t been any riots or protests as there have been in many other Central American countries. As a result, Costa Rica is not only a desirable site for financial investments, but also for individuals seeking permanent residency. We will go through other key reasons to invest in real estate in Costa Rica.
Many Investment Opportunities Exist
If you want to buy property in Costa Rica as an investment, you have a few options. “Since Costa Rica is the most popular tourist destination in Central America, the hotel and vacation rental industries are very easy to reach,” notes Costa Rica Real Estate. People who have managed larger properties in the past will be happy with the existing gated and condo communities. On the other hand, people who want to build have a lot of options when it comes to buying land. Due to the large number of tourists who visit the area every day and the growing number of expats, the need for good restaurants is higher than it has ever been.
You Can Get Quality and Affordable Health Care
Both private and public hospitals in Costa Rica provide high-quality medical care at rates that are a fraction of what they would be in the United States. Insurance through the public health care system starts at $20 per month per person, while insurance through private hospitals and clinics costs between $50 and $100 per month per person.
It Is the World’s Happiest Country
Costa Rica is ranked as the “happiest and greenest country in the world” by the New Economic Foundation (NEF) and the Happy Planet Index, respectively. One of the criteria used is a scale on which people estimate their degree of life satisfaction. Additional factors, such as a country’s average longevity and environmental effects, are also considered.
It Is Committed to the Preservation of Nature and the Environment
Costa Rica, largely considered a pioneer in the environmental sustainability movement, has put in place a variety of strict rules to protect its unique flora and fauna for future generations. Costa Rica declared oil and gas exploration banned in 2002. More tropical rainforests are being protected in this country than in any other in Central America, thanks to the efforts of the country’s national parks. Costa Rica’s comprehensive network of wildlife corridors and highway crossing lines protects tree-dwelling species and keeps them off the roads.
You Can Open a Business or Personal Bank Account without Citizenship
If you want to do your banking business in Costa Rica, you won’t be short on options. The Banco Central de Costa Rica is the country’s central bank. Commercial banks, finance companies, savings and loan cooperatives, private finance corporations, and insurance companies are also part of the country’s financial system.
The Banco de Costa Rica, which allows citizens to establish personal and commercial accounts and also accepts applications from businesses, is one option to open an account. You could also open a personal account with Banco National, which will accept documents like a passport and a social security card as proof of identity.
Costa Rica Has Minimal Real Estate Taxes
Most of the time, the property tax is based on a percentage of the assessed value, which can be anywhere from 1% to 25%. The purchase price is often much lower than the property’s registered value, which is good for the buyer. The size of the building and the quality of its finishes, such as foreign wash basins or travertine flooring, both go into the calculation used to establish the amount of the luxury tax that the owner of some exceptionally big and extravagant houses must pay.
Costa Rica Has Delightful Weather All Year
Even when it’s raining, the mornings are often sunny, which shows that tourism is a year-round business in Costa Rica. Costa Rica has just two seasons: the dry season and the rainy season. The dry season runs from May to November, followed by the rainy season from November to May. If you manage your home correctly, you can be guaranteed that you will have guests staying with you for most of the year, guaranteeing a consistent return on investment.