Buying real estate in Costa Rica is quite simple. You just need to present an identity document and the contract will be concluded. Realtor services are 5% and are paid by the selling party.
There are no other benefits for the purchase of housing between foreign citizens and the local population. In addition, the transaction is completed quickly, within one day, and no one builds additional obstacles. Real estate can be purchased either by an organization with any administrative and legal form or by a private individual.
The value of the real estate, which is indicated in the municipal books and registers, is far from the actual value since it is a legal or fiscal price. In fact, real estate is sold at a market price that is ten times higher than the fiscal one. However, there is also a pleasant moment in this – you will have to pay annual taxes on real estate precisely at the legal cost, which will significantly reduce the fixed costs of maintaining and owning the object.
There are no special restrictions and prohibitions for foreigners to buy real estate in Costa Rica.
The only exceptions are some areas:
- The first 200 m of the sea coast are not for sale, since they belong to the state and are intended for public use;
- Any construction is prohibited on the first 50 m from the sea beaches, and they cannot be owned by private owners;
- The next 150 m can only be rented.