Costa Rica Real Estate: General Information
Real estate in Costa Rica is an exotic venture nestled between
the rainforests and fine beaches of this majestic Central American country. Though
Costa Rica real estate can be an excellent location for a vacation home, many buyers
end up retiring here full-time after experiencing the diversity of its geography
and friendly people for themselves. A relative newcomer on the market, Costa Rica
real estate still includes everything from affordable lots to multi-million dollar
mansions.
- Closing costs for a sale include a transfer land tax, a stamp tax, and legal fees
- Closing costs are approximately 4.3% of the sales price and are normally split 50/50
between buyer and seller
- The transfer and land taxes are assessed based on the declared value, while legal
fees are charged based on sales price of the property.
- 95% of beach property falls under a leasehold agreement running 5-20 years called
; an annual fee must be paid over this time to use this government land. This is
also referred to as concession zone property.
- Ownership is fee simple unless designated as concession property Purchases can be
made by forming a company or in ones individual name.
- Financing available on location for terms of up to 15 years, interest rates vary
case-by-case.
This material is based upon information which we consider reliable, but because
it has been supplied by third parties, we cannot represent that it is accurate or
complete, and it should not be relied upon as such. These offerings are subject
to errors, omissions, changes, including price, or withdrawal without notice.