Posts Tagged ‘Costa Rica Real Estate Market’

Wide Open Space in Costa Rica

Written by Michael Simons on . Posted in Costa Rica Charity, Costa Rica Living, EX PATS in Costa Rica, Guanacaste Tourism, Newsletters, RE/MAX Tres Amigos

Wide open spaces

At the beginning of this year, January 1, almost everyone I know had huge expectations. Business was booming, the economy was on fire, stock markets at an all-time high, unemployment at 50 year lows and the predictions were insane. Everyone was making more money than they ever had, their businesses were at peak performance, tourism numbers were through the roof and life could not be any better. It had been an absolute banner year, and the sky was the limit. Personally, I was planning on having the best 12 months I ever had and most of my agents had the same goals as well. The first 60 days, were record breakers for real estate in Costa Rica, and it looked like nothing could stop this bullet train. Then the conductor pulled into the COVID-19 station; the locomotive was put into park; the engines were shut down; and everyone had to get off and go home. The globe became silent.

Now here we are, 8 weeks later, and Costa Rica is one of the leaders in the world, in its handling of the virus. Countries all over the planet are pointing to us as the exception to the rule; how we have contained it and lowered the curve; at the astounding low numbers of active cases; as we start to reopen our economy. Most countries and or cities, with 3 to 5 Million inhabitants are seeing thousands of deaths, compared to our mind boggling number of only 10. People are taking notice, and we are flooded with inquires and phone calls. So many individuals rehashing the same comments; I should have bought; why didn’t we just come; why did we cancel our trip; why did I procrastinate; wish we were there! Well, hindsight is 20-20 they say, and it just happens to arrive in the year 2020.

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.

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