The popularity of condos in the booming Guanacaste region in Costa Rica has spawned a new industry for local residents and entrepreneurs. As the tiny villages along the coast trade in their wilderness for billion dollar investments, locals are trading old jobs for marketing kits and tool belts. In the wake of the boom, property management services have been springing up to satisfy the needs of absentee property owners who want to rent their homes to tourists as vacation properties.
Since development on the $400 million Peninsula Papagayo project began in 1997, construction and real estate sales in Costa Rica's Guanacaste region have been on a roll. According to Costa Rica's Central Bank, big business foreign investment in real estate has nearly tripled in the past 12 months - most of it in Guanacaste. The majority of these purchases represent investments in the tourism industry with large scale hotels, developments and existing tourism businesses being snapped up by savvy entrepreneurs.
But not all investment in the tourism industry represents big business. Individuals and families attracted by the climate and natural beauty of the area are getting in on the action. Discovering that condominiums make fantastic and affordable vacation homes while providing a viable source of income, people from all over the world are buying up condos in the country. But managing a property when you are out of the country is next to impossible and leaving your vacation home unoccupied for months is downright risky. Absentee owners can return to find they've been robbed or even worse - that their property is being inhabited by squatters.
Many condominium projects address this problem directly by providing property management services as part of the deal at buy-in. Owners can enter their property into the project's rental program and have their interests taken care of. Depending on what level of involvement you wish to have, property management companies will take care of everything - from security to housekeeping. For a monthly fee, you can count on your manager to be your hotelier with a complete package that includes marketing, booking, cleaning, and maintaining the property while on site security removes the risk of unexpected or uninvited guests.
Property In Costa Rica
Have you thought about making the giant leap and purchasing beach front property as a second home or an investment? During the past 5 years real estate has been increasing at a remarkable 18 - 30 % per year. How do you invest in Costa Rica beach front properties? Read on, and I'll share my thoughts on the guidelines to buying beach front property anywhere else in Costa Rica.
Here's one current example of one the best deals for beach front property that is 38 (plus acres) that could be developed as urbanization or your own personal estate.
There are only two ways to go about buying beach front property in Costa Rica? The wrong way, and my way. Based on my experience of living here in Costa Rica for the last 15 years. Here's my thoughts:
- Make sure the area your looking at is a place you would like to vacation at. If you plan on making a large purchase then spend a few days in the area to see if it is the right place for you. You will get a more in depth idea if you spend more time there. You don't want to in your "tropical dream paradise" regretting that you've done it.
-Find a competent lawyer to represent your investment. Do not use the lawyer who is associated with the buyer. Always find your own lawyer to manage your purchase. It's important to find one that has considerable knowledge of maritime zone law.
-Costa Rican maritime law is different in every Central American country and you need to know all of the details before purchasing beach front property in Costa Rica. In Costa Rica, the maritime zone is 200 meters from the average median high-low tide all year long. The first 50m is public property and the 150 meters from that line is restricted. The 150 meters stretch can not have an "original title", but can be leased by a concession by the local municipality.
- Once your sure of purchasing your property act quickly (but prudently). Since property in Costa Rica is in high demand a good deal won't last long. Land prices are on the rise, and not showing signs of slowing down any time soon. Once your sure, act. The current owner may have second thoughts and want to renegotiate or may not want to sell.
- Negotiate directly with the owner. There are many middle men that light be charging you too much. If an agent says you can't speak with the owner then do not waste your time or money.
- Get a topographer to do a recent survey the land. The owner will have a "plano catestrado", but you will need to make your own survey to verify the location and size of your property. You want to make sure your getting what you paid for.
The best of luck in your search for your beach front property in Costa Rica!
Both Nick Viale & Bob Tharten are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Nick Viale has sinced written about articles on various topics from Family Travel, Real Estate and Real Estate. For more information on property management or condominiums in Costa Rica, contact Nicholas Viale, owner of in the pr. Nick Viale's top article generates over 9900 views. to your Favourites.
Bob Tharten has sinced written about articles on various topics from Bad Credit Loans, Debts Loans and Real Estate. Dan has been living in Costa Rica for the last 10 years. Love for the Country, culture and people make him a reliable source for information for
