Costa Rica: Is it too late to buy?

Costa Rica has been the darling of eco-tourism and expat real estate for close to two decades now.  But, is to too late to buy affordable real estate in Costa Rica?

Costa Rican wildlife

My first foray into Latin America was a vacation to Costa Rica.  I chose to go to Costa Rica because of it’s reputation for being safe, “user friendly” and, of course, beautiful.  I was not disappointed, and have made many return trips to enjoy “Pura Vida!”  

Like most people, my first stop was in the capital of San Jose.  If you haven’t been to San Jose, I can’t say that you are missing too much. There are some great restaurants in the city and it’s an easy place to find all of your souvenirs and gifts.  San Jose’s central location also makes a convenient place to stay if you wish to visit various parts of the country on day trips, and the country’s famous coffee plantations thrive just outside of the city.  Other than that, there isn’t much for anyone looking for the things that bring most people to this otherwise beautiful country.

As a tourist, I highly recommend the Arenal region.

Arena Volcano

The main attraction is, of course, the volcano itself.  Constantly erupting since 1968, this is one of the few places in the world where you can safely enjoy the spectacle of an erupting volcano.  One of the best places to enjoy the view is at Tabacon Hot Springs.  A five star resort located at the foot of the volcano, you can enjoy an extended stay or just a refreshing day in the hot springs.  The resort also boasts an excellent buffet style restaurant where you can dine on some tasty local dishes while the rumble of the volcano constantly reminds you of the awesome power of nature.  For those looking for a longer stay, or investment, real estate in the Arenal area may be a good fit for those who don’t want a beach lifestyle.  The large Arenal lake is a popular place to buy larger tracts of land, and prices in this part of Costa Rica are more affordable than the coastal areas.

For those who desire a beach lifestyle, the Pacific coast has become far more popular for expats than the Atlantic side.  Especially booming is the Nicoya Peninsula.

 

Sunset on the Nicoya Peninsula

Large hotels and resorts and mega-developments are popping up all along the coastline of the Nicoya Peninsula.  Some places are more affordable than others, while some places like Crystal Sands keep their pricing “close to the vest” requiring that you call to get a password before you know if you can afford to consider their property.  For those looking to avoid the crowds of San Jose, Liberia offers an alternative for international flight arrivals, and is hours closer to the Pacific coast.  Some visitors may be thrilled by some of the black sand beaches, while those looking for the typical dream of white sand beaches may be put off.

So, is it “too late” to invest in Costa Rica.  Of course not.  But, for those on a tighter budget, finding your dream home in Costa Rica may take more work than in other places in Central America or the Caribbean. The down-side to being the world’s premier eco-tourism spot for so long is that the demand for development, especially along the coast, has driven prices to be nearly on par with places like California. On the positive side, the cost of living (after your initial real estate investment) still tends to be low, with food prices being very affordable.  There also are not many tax benefits that I can identify which would make Costa Rica stand out compared to other Latin American locales.  As always, we encourage you to do your own homework.  Here is just one resource to get you started: http://www.ticonet.co.cr/viewtopic.php?f=5&t=15

Tags: arenal, costa rica, eco-tourism, nicoya, pura vida, real estate, tabacon, travel