The
value of beach property has skyrocketed over
the last decade due to the country’s increased popularity.
Many people want to realize their dream of owning a beachfront
lot in a tropical paradise.
For most foreigners the main beach
development areas that are worth considering
for retirement and/or vacation homes can be found in
Guanacaste areas such as Flamingo, Junquillal, and Tamarindo.
The Central
Pacific beach areas around the towns of Jaco Beach, Quepos
and Manuel Anotonio are also attractive. This
Central Pacific area has great potential, as it is much
closer to the Central
Valley and San Jose. The new Villa Colón-Orotina
and Quepos-Dominacal highways will have a huge effect on
real estate values in this area, as it will reduce driving
time to the Central and South
Pacific areas.
Unlike Mexico, some beachfront property may
be purchased. However, the 200-meter strip of land along
the seacoasts
is owned by the government and for public use. It is prohibited
to build anything within the first 50 meters of the high
tide line.
This zone is for the public and cannot be
turned into a private beach. Also, you can no longer build
within the next 50 to
200 meters of the high tide line—this is called The
Maritime Zone, or Zona Marítima, — unless there
is existing housing or a new tourism project involved. If
this is the case, you can lease the land from the municipality,
which is overseen by the Costa Rican Tourism Institute.
In theory foreigners cannot lease this land,
but there are loopholes in this law. One of the ways to circumvent
this
regulation is by obtaining a lease through a corporation
that is owned mainly by a Costa Rican. Check with a lawyer
to find out how this works.
For your information, beachfront property is
being bought-up fast, and the price of this and other prime
real estate is soaring.
Before you move to the beach, you should know
that for some people the novelty of living at the beach wears
off fast. Visiting the beach for a few days or weeks is very
different from living there full-time. The humidity, boredom,
bugs, lack of emergency medical facilities in a few areas
and the occasional inconveniences of living in an often out-of-the-way
area are factors which might deter some from moving to any
beach area. However, in general the positives in beach living
far outweigh any negatives. Due to Costa Rica’s increasing
popularity and improving infrastructure, beach property can
be an excellent investment.
Besides beach
property there are also homes, condominiums, farms, lots and
ranches for sale at reasonable prices, depending on their
location. See the section titled, “Where to Live”
in Chapter 2 for a description of the areas where many foreigners
reside.
If you want more information about the best real
estate affordable, please contact Costa
Rica real estate and retirement properties or call toll
free 1 888 581 1786.
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