Costa Real Estate
Friday, February 26th, 2010 | Real Estate
Costa Rica is a renowned spot for vacation, investment and retirement. The beauty of this land verbalizes long beyond its stunning beaches, rugged mountains, great weather but natural beauty is pondered in the warmth of the Costa Rican people. Costa Rica is nowadays becoming the hottest destination in the globe and the real estate industry is having a boom.
Costa Rica unlike many countries does not have any restrictions when it comes to foreigners having property rights on real estates. Costa Rica offers foreigners the same legal rights as of the Costa Rican community; these are saved under the Constitution of Costa Rica. When purchasing real estate in Costa Rica the purchaser has to go through proper procedures and use responsible agents to procure their property. The legal system in Costa Rica is based on the civil law system. Transactions of property differ from the common law system hence it s needed for foreigners to get proper advice regarding investments. To ensure that the transaction is legitimate and the advice received is honest, the purchaser has to work with a buying agency. The buying agency will help to monitor the whole transaction and they need to have access to reliable lawyers, surveyors, engineers.
When investing in Costa real estate titled properties has to be registered under the National Registry. If a property is not named in the National Registry, it should be avoided. During an investment in a real estate in Costa Rica, both taxes and fees have to be paid to the municipality and federal government. The number could vary from one place to another but would be much lesser when compared to U.S.A. Investments in real estates in Costa Rica along the coastal line falls under the Shoreline Zone Law which states that 50 metres above the high tide line is considered as public property and no property can be built on that. From 150 metres the land can be engaged for own usage. It is advisable to contact the local municipality before investing in real estates in Costa Roca shore lines.
Condos are great way of investing in real estates in Costa Rica although they are somewhat a new concept to the area. Investments in real estates in relation to Condos are profitable for a person who is looking at staying for a longer period or someone who would have the thought of renting it to make an income. Condos are been built increasingly and also they are througt as a lucrative deal.
No comments yet.