Buying Property in Costa Rica – The very detailed long and boring version

Written by Michael Simons on . Posted in Buying and Selling Property in Costa Rica, FAQ's

BUYING PROPERTY IN COSTA RICA

Introduction

Real estate transactions are among the most important and valuable events in our lives or business.  The process of buying a home or entering into a real estate investment should and can be fun and exciting, and bring us financial rewards and pleasant experiences for years to come.  However, buying property in Costa Rica requires placing large portions of assets at stake and assuming substantial personal and financial commitments.  Therefore, it is important to proceed with caution and care.  Especially when buying property in a foreign culture with a system, language and values we don’t fully understand.  It can be a frustrating experience and may seem at first fraught with risk. 

It is not necessary to be a resident to own and invest in property in Costa Rica.  The laws and constitution of Costa Rica, with the exception of property located in the Maritime Zone, affords foreign investors the same rights as nationals in the ownership of property; as long as the proper procedures are followed.  The following is designed to provide information to potential investors of all types of real property in Costa Rica about the buying process and what you should know prior to investing.

Buying Property in Costa Rica includes homes with pools

Types of Property and Property Rights 

Is Costa Rica a Good Place to Make Money on Rental Property?

Written by Michael Simons on . Posted in Buying and Selling Property in Costa Rica, Costa Rica Real Estate Market Update, Investing in Costa Rica

We have been telling you for a while that Costa Rica is a good place to make money on rental property.  It turns out that we are not the only ones that think this.  A recent article in the Business Insider found that Costa Rica ranks as the 3rd Best country to Buy Rental Property and make money.

Make money on rental property like these condominiums

The research was done by GOBankingRates who reviewed important indicators like monthly rent, rental tax rates and gross rental yields to come up with the amount, expressed as a percentage, that a landlord can expect as return on his investment before taxes, maintenance fees and other costs.  Each metric was assigned a score, and the three scores were then combined for each country to form an overall score, which determined the final ranking. The higher the score, the higher the potential income for property owners.

Here are the numbers for Costa Rica:

Rental yield: 7.48%

Effective rental income tax: 5.16%

Monthly rent: $1450

Although Costa Rica’s rents are comparatively low, it has the second-highest rental yield in the survey, and its effective rental income tax is lower than 72 percent of the other countries reviewed.  Only the United Arab Emirates and The Philippines beat Costa Rica out of all the countries in the world.  Check out the article for details on how to make money on rental property in Costa Rica.

December 2019
M T W T F S S
« Nov    
 1
2345678
9101112131415
16171819202122
23242526272829
3031  

Tres Amigos on Facebook

Tres Amigos on Facebook

Sign up for my Newsletter

Newsletter

Prestige Ocean Properties on Facebook

RE/MAX Prestige Ocean Properties

©2012-2019 tanktopsflipflops.com. All Rights reserved.
Costa Rica SEO by Ticode SRL