Is the market coming back?

Updated:  February 6th, 2017

For the last 4 years, we have seen a huge increase in sales every year from the previous year. Last year we did more transactions than the 3 previous years combined.  So what is driving the market you ask?  I think it’s a combination of a few things.

First of all, many of our clients have been planning to come to Costa Rica for years.  When the economy took a turn they put their plans on hold.  But after 4 or 5 years things are looking better in much of the USA and people are turning the attention again towards paradise. They don’t want to wait anymore.  Many people, even though they may have less money in their retirements than they had hoped for or had before the economic crash, are still putting their “5 year plans” to work.  So we are seeing many buyers coming here now that have told me they are tired of waiting and just want to make it happen now.

Can I lose my property for failure to pay Costa Rica property taxes?

Just like any country in the world, you are required to pay your taxes. Failure to pay your property taxes can initiate the start of foreclosing on your land or your house by the Municipality.  Most property managers pay your taxes as part of their services, and many law firms offer this service too.  But in the end it is your obligation to make sure they get paid.  So every year you should follow up and confirm that these taxes have been paid. Like anywhere, there are penalties and interest for paying late.