Most visitors to Costa Rica fall in love with this beautiful country and its friendly people. Lets face it, from idyllic tropical beaches, verdant mountains where the climate is always spring-like, to tropical rain forests with abundant flora and fauna, there is a lot to love. For some people the main attraction is the world class sport fishing. For others it is the numerous national parks and/or the numerous species of birds found here. Maybe its just the ideal climate and the slower pace of life.
Costa Rica has a reasonable cost of living also offers many other advantages, impressive health and educational systems, incredible public transportation, widespread and advanced communication networks, etc.
Quality of health care in Costa Rica is comparable to North America or Europe
Whatever the reasons are, many foreigners decide that they want to own a piece of Costa Rica. Those who are able may want to buy property and live here. Others may want a vacation property or a place for eventual retirement. Yet others may want to farm the rich land.
Costa Rica's economic and political situation are extremely stable, especially when comparing it to surrounding countries, that’s why has becoming in a perfect destination for buying properties.
The law
The good news is that foreigners have the same absolute right to own real property in Costa Rica, as do citizens. Many countries have restrictions on foreign ownership of real estate but not Costa Rica. Here all people, Costa Rican or otherwise have the same legal rights, which are protected by the Constitution and reflected in the laws.
Property Taxes
Taxes and fees are paid both to the municipality and the federal government. The amounts vary from place to place but are considerably less than one would pay in the U.S.A. Currently the property tax system is in a state of flux. The government is attempting to implement a system based on appraised value. Whether "appraised value" is actual market value or some percentage thereof, as in the U.S., is unclear. The primary proposal was for owners to pay 0.8% of appraised value yearly but this amount is expected to be reduced by the legislature.
Beach Front Property
The Law concerning the Shore line – Terrestre or Shoreline Zone Law states that the first 50 meters above the high tide line is public property and nothing can be built on it. The next 150 meters can be leased for private use. All leasing is done through the municipality. Certain construction is allowed in this zone but at the termination of the lease ownership of any improvements reverts to the municipality. In most cases, some payment is made for the improvements. This law applies to islands also. The only exceptions to this law, where land within the so-called "maritime zone" is titled, date back to colonial times or can be found with certain urban property next to the sea.
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