The good news is yes, citizens of the USA can buy property in Costa Rica. In fact, by law all foreigners usually have the same rights to buy, build, sell or rent property as Costa Rican nationals.

One of the few exceptions is acquiring land within the maritime zone — between 50 and 200 meters of the high-tide line on any beach — in which case there are special considerations that require the involvement of a Costa Rican national.

But in most cases, foreigners have the peace of mind that they will be treated no differently from locals when buying property in Costa Rica.

Does that mean it’s easy? Well … Costa Rica’s extensive regulations ensure that it’s pretty complicated for anyone to buy property here. It’s important to investigate and understand the hurdles you have to clear to buy land here.

But even if you were 100% Costa Rican, born and raised in this country to Costa Rican parents, you would still face most of the same hurdles.

Buying land can be risky anywhere, especially if you’re committing a major part of your life savings with no guarantee of a satisfactory return on your investment.

But generally speaking, Costa Rica is a safe country in which to travel, live or buy property — no less so than anywhere else.

Of course, you should be very careful when buying property in Costa Rica to make sure you get what you thought you were getting. Beware of scams and schemes to take advantage of foreigners. If you don’t speak Spanish, find a bilingual and reputable real estate agent who will keep you informed of any issues to prevent you from making an ill-advised decision.

Also, it’s very important to be represented by a good lawyer in any real estate transaction — and it needs to be your own lawyer, not the seller’s lawyer. You need to be sure that anyone giving you legal advice on a property purchase doesn’t have divided loyalties.

Finally, educate yourself on all the taxes you’ll have to pay, including property taxes and other obligations, to be sure there are no unpleasant surprises down the road.

It’s often frustrating to hear the answer “It depends” to an important question affecting your financial future, but of course … it depends.

There is probably no reliable estimate for the average cost of a house in Costa Rica, primarily because there are no official home price statistics compiled in this country. But according to a report by realestategrupo.com, homes in San José had an average listing price of $1,110 per square meter in July 2019. Most foreigners looking into buying a home in Costa Rica are generally (if erroneously) thought to be pretty rich. At the same time, most foreigners are generally looking for a nicer home than the humble casita that the majority of Costa Ricans inhabit.

So sure, you can buy a home for $75,000, $100,000, $200,000, $500,000 or $1 million. A few years ago, Point2 Homes compiled a list of the most expensive homes for sale in Costa Rica, led by actor Mel Gibson’s 500-acre property at Playa Barrigona in the Nicoya Peninsula, for a cool $29.75 million. (No word on whether seller financing was available.)

But can you buy a humble Costa Rican home for $25,000? Absolutely. Or less! But it might not be the manse you dreamed of retiring in.

Long answer short, there’s a huge variety of properties for sale in Costa Rica, depending on location and size. They tend to start in the five-figure range, though the closer you get to a six-figure sale price, the more it will look like a home you might want to own forever.

Where, how big and how nice are three of the biggest questions you will face if buying a home in Costa Rica. And it goes without saying that another major factor is whether you buy a vacant lot with plans to build your own home or buy a home that’s already built.

If you’re seriously thinking of buying a home in Costa Rica, you should travel far and wide, visiting as many properties in as many regions as you can. Ask yourself what’s most important to you — do you want proximity to the beach, to hospitals or schools, to an established expat community? Or do you want to live in a secluded place where your only neighbors are monkeys and birds?

• Beach: Oceanfront property is highly valued but tends to be more expensive, and if you have a limited tolerance for heat, be aware that it’s always hotter near the beach.
• Central Valley: Most people, national and expats, live in the central highlands, where it’s cooler and access to anything you need is closer. But this choice often means more people, more traffic and more noise.
• Remote areas: Take your pick of your favorite mountaintop, but greater seclusion will mean less convenience and a bigger challenge in establishing a social life.

It depends on what you purchase and what your intentions are, but there are many ways you can use your property in Costa Rica. If you’re buying a second home, you can always enlist the help of a property manager in Costa Rica and rent it out to other travelers while you aren’t using it.

A real estate agent can help you navigate the Costa Rican real estate market and the language barrier. If you choose a CRGAR member, they are assured to be a legal worker in Costa Rica, a CRGAR-certified professional, subject to the professional rules in the united States, and have a long-term commitment to the profession and Costa Rica

Costa Rica is, by far, the best place to invest in Central America. Almost 200 years of democratic tradition, 70 years with no military, 97% literacy, and a prosperous, fast developing country makes buying and investing attractive. Costa Rica is a great place to retire or raise a family. An ecologically oriented country, Costa Rica offers beautiful national parks, amazing beaches, wonderful adventure sports, and relaxation. Here you will enjoy the advantages of living in the tropics with all the conveniences of a developed country.

Yes, foreigners are permitted to own property outright in Costa Rica. Foreigners have the same property rights as Costa Ricans. Private property is protected by the Constitution of Costa Rica. It is no different than owning real estate in the US or Europe. Costa Rica is definitely a beautiful country to live, invest and retire.

Typically, the buyer and seller share the closing costs, which are calculated as a percentage of the property’s value; registration fees, notary and attorney fees, documentary stamps and transfer taxes will amount to no more than 3-4% of the property’s declared value. Though it used to be common practice to artificially lower the property’s declared value, this is a dangerous game that could cause future repercussions, especially in light of the new capital gains tax.

There are no restrictions that specifically apply to foreigners when purchasing fee simple property in Costa Rica.  A Costa Rican partner is only required to buy property in in certain coastal concession areas of Costa Rica.

Per Costa Rican law, real estate commissions may range from 6-10% of a property sale price. Unless the buyer agrees to split the costs, the seller is legally responsible for paying the entire real estate commission.

Yes, however, it is more common and recommended to acquire the property through a corporation in order to separate potential personal liabilities, facilitate the closing procedure, and allow for easier transfer to relatives in case of casualty.  The Costa Rica holding company will also make it easier to obtain services such as electricity and cell phones, as well as, opening a bank account.

Exception: A foreigner can only own up to 49% of the concession rights for a Concession Property within the Maritime Terrestrial Zone (MTZ).  Without getting too technical, the MTZ is limited to the area 200 meters from the median high tide line, and only in areas not previously titled to the 50 meter line.  All other property outside of any applicable 200-meter zones can be owned 100%.

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The benefits to purchasing a property in a company name include greater options regarding taxes and liability. Consult an attorney for detailed considerations.

Although recommended, the answer is no.  The closing can be executed through a Power of Attorney with a third party in Costa Rica that you trust.  This Power of Attorney can be specifically for the sole purchase and signing the closing document.  Another option is to DHL or FedEx the documents after signing them in front of a licensed Notary Public at your nearest Costa Rica Consulate. Considering the cost of the shipping and the distance to the nearest Costa Rica Consulate, many buyers fly down and sign in person.