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 FlamingoLink, S.A. wishes you the best of times in our little paradise called Costa Rica.
|
