Costa Rica
Why Invest in Costa Rica Real Estate
Land Values in Costa Rica have increased 32% annually since 1998…65% annually for properties which have a rental dwelling on the site.
Favorable tax system: Currently there are no capital gains taxes on the sale of property. Property taxes are currently at one quarter of one percent on your property value, substantially lower than what we are accustomed to. Costa Rica law allows for the same property ownership rights for foreigners as for Costa Rican citizens. Costa Rica, a democracy for more than 115 years, is a model of political stability. It is often referred to as “The Switzerland of the Americas.”
Biodiversity
Costa Rica comprises only 0.01 percent of the earth’s landmass (less than 20,000 square miles), yet it is home to five percent of the planet’s animal and plant species. There are more species of plants and animals per acre in Costa Rica than anywhere in the world.
Biodiversity is evident everywhere: 10,000 species of plants, 850 species of birds, 800 species of butterflies, 500 species of mammals, reptiles, and amphibians. You don’t have to travel far within the country to experience a different and unique ecosystem: mountains over 12,000 feet; active volcanoes; cloud and rain forests; waterfalls and tropical jungles; banana, sugar, pineapple, coffee, and papaya plantations; mangrove forest and coastal swamps; and beaches and marine environments that support a variety of water fowl, fish and crustaceans.
Approximately 30 percent of Costa Rica is protected as national parks, biological and archeological reserves, and wildlife refuges.
Geography
Costa Rica is located in Central America, bordering both the Caribbean Sea and the Pacific Ocean. Nicaragua borders Costa Rica to the north and Panama borders to the south. The country has a total land area comparable to the size of West Virginia: approximately 51,000 sq. km with 1,290 sq. km of coastline.
However, in such a small area, you can find exotic beaches, national parks, volcanoes, rivers, two oceans, lakes, rain forest, indigenous peoples and a seemingly unlimited variety of flora and fauna.
Costa Rica’s year round climate is pleasant with naturally occurring breezes, cooling down most of the coastal areas. Temperatures in the highlands and mountains are not so cold, especially during day, producing an ‘eternal spring’ feeling. The average annual temperatures range from 31.7°C (89°F) on the coast to 16.7°C (62°F) inland. The rainy or green season lasts from May to December with noticeably drier days during the rest of the year.
Rugged highlands are found throughout most of the country, ranging from approximately 1,000 to 2,000 meters (3,000 to 6,000 feet above sea level). The Guanacaste Mountain Range, Central Mountain Range, and Talamanca Mountain Range are the main mountain ranges extending the entire length of the country. There are several active volcanoes (Arenal Volcano, Irazu Volcano, Rincon de la Vieja Volcano and Turrialba Volcano) and the country’s highest mountain (Chirripo Hill) with a height of 3,819 m/12,530 ft.
The country has a relatively long coastline in both the Atlantic and Pacific oceans, as well as a number of rivers and streams that attract kayakers and rafters from all over the world who come to enjoy the magical scenery and adventure this pristine country offers.
Investment Overview
Virgin tropical rain forests, beautiful beaches, amazing wildlife, and the friendliest people you will ever find are just a few of the reasons that more and more travelers are turning to Costa Rica as their tropical destination. In addition, Costa Rica is the safest country in Central America, where family values and respect are forthright. The only country in Central America with a stable and long standing democracy, Costa Rica eliminated its army in 1949. The government has renounced aggressive militarism in order to use its resources in education, health care and services for the good of the entire population. Costa Rica therefore boasts a higher literacy and life expectancy rate than that of the United States, and is a peaceful progressive country where democracy and stability are hallmarks. Although it is a country of small farms and businesses, there resides an air of prosperity and a feeling of equality among all of its citizens.
Because of this peaceful and prosperous atmosphere, many people compare it to the United States of 30 years ago when life was not hurried, not crowded and thus unspoiled. The Costa Rican government goes to great lengths to encourage investment within its borders. It offers up a host of incentives to investors such as no capital gains taxes on real estate, minimal business taxes, and very low property taxes. As a result, many companies have chosen Costa Rica as an investment site. Companies such as Siemens are leading the way in the implementation of the infrastructure needed to make Costa Rica the “Silicon Valley of the Americas,” and computer giant, Intel has made the central valley of San Jose its new chip making headquarters. Intel’s investment in Costa Rica represents the largest ever made in a developing country and the results have been tremendous thus far. Also facilitating business and leisure in Costa Rica is the increased air travel both within the country and internationally. International flights are continually opening and expanding everyday and the newly inaugurated International Airport welcomes all visitors.
In addition, with the opening to international flights at the Daniel Oduber Airport in Liberia, the northern region of Guanacaste is witnessing astounding growth in investment over the past 2 years. Costa Rica is one of the best places on earth to live and visit due to the excellent quality of life. This country boasts a fantastic climate, lush natural beauty, and limitless activities to keep busy. Not only does Costa Rica possess Central America’s finest and most advanced telecommunications infrastructure, but housing is affordable and residents benefit from an inexpensive medical system; (thousands of Americans come to Costa Rica each year for treatment, surgery, and recovery as costs are oftentimes less than have of comparable procedures in the USA).
In short, this beautiful country has the warmth and flavor of Mexico-without the anti-Americanism- the physical beauty of Guatemala- without a large military presence- the sophistication of Brazil-without the abject poverty or violent crime, more winter sunshine than Florida or Hawaii, and, presently less people to share it with. The future is clear. As we continue to move towards a more global community, Costa Rica stands out as one of the last unspoiled, pristine locations in the world. At the world summit on sustainable development held this year in South Africa, Costa Rica is being presented to the world as an example on how to encourage healthy growth and economic prosperity while embracing and protecting all the natural beauty which has made this such a popular and unique destination. The investment atmosphere in Costa Rica is a model for other developing countries to envy. According to a survey in the Robb Report of potential foreign investment/retirement areas, Costa Rica surpasses all countries, including Mexico, Panama, the Caribbean Islands, Puerto Rico, Portugal, Australia, and Greece. It is not surprising that there are more Americans, Canadians, and Europeans living in Costa Rica than any other country in Latin America.
Locations
Discover the areas surrounding the South Pacific Region
For many years, Dominical was a quiet community of fishermen and farmers. Even today, the daily catch arrives on pangas at daybreak and an occasional cattle drive will hold up traffic on the Costanera (the coastal highway).
There are few hotels and lodges and no towns of any size. If you look closely, you see the occasional home nestled in the jungle covered mountainside. The village of Dominical, the largest town in the area, is unmistakably a laid-back surfing community exemplifying the southern coast’s “Pura Vida” attitude, complete with dirt roads, surf shacks, t-shirt shops, and beach vendors.
Over time, the Dominical area became – and still is – a mecca for surfers, fishermen, and naturalists alike. As the word spread about the Dominical area’s dramatic coastline and idyllic lushness, development has come. But, many of these developers and investors have defined their visions for the future with a commitment to sustainable development. This kind of harmony and unified vision sets Dominical apart from other development areas in Costa Rica and around the world.
People
Dominical has an eclectic mix of pre-retirees, ex-pats, surfers, Costa Rican locals, Americans, Canadians and Europeans; a truly global village immersed in the authentic, relaxed Latin culture of warm hospitality that makes life here so refreshing and alive. Despite the international cast of characters, the area is not crowded. You can be all alone on a beach, or hike through the jungle and not meet another person all day.
Location
It is a short drive from Dominical to two different airports. Our proximity to Manuel Antonio National Park, the most-visited tourist destination in the country, means we benefit from the transportation infrastructure that exists there, with many buses, private shuttles and cars for hire. We are located on the best highway in all of Costa Rica; the next stretch leading to Manuel Antonio is about to be paved, meaning many more people are about to discover Domincal and this rare real estate opportunity.
Stretching from Dominical to Ojochal, Costa Ballena encompasses a vast stretch of a gorgeously rugged shoreline and a number of beautiful beaches. This southern Pacific region of Costa Rica features unspoiled beauty and natural charm that expresses an overarching appeal and gives a unique character to the region.
Celebrated for its incredible biodiversity, Costa Ballena is a hot spot for nature lovers, conservationists and eco-adventurers alike. The beautiful coastline of Costa Ballena includes the beaches of Dominical, Playa Dominicalito, Playa Hermosa, Playa Uvita, Playa Arco, Playa Ballena, Playa Pinuelas, Playa Ventanas and Playa Tortuga. These beaches offer various water sport opportunities like snorkeling, kayaking, diving, surfing and scuba diving. Other activities available in the area include sport fishing, canopy tours and tree-climbing adventures.
Known as the Whale Coast, for the large number of migratory whale spotted here, the most popular attraction in the area includes the unique whale and dolphin watching adventures. The lush forestation surrounding Costa Ballena is teeming with wildlife and the mangroves near Ojochal offer excellent bird watching opportunities for bird lovers. Relish in the tours to the pre-Columbian stone spheres or enjoy the ecology of the region on trips to the Hacienda Baru Wildlife Refuge with its miles of deserted beaches, variety of habitats and nature trails. Or you can horseback ride to the breathtaking Nauyaca Waterfalls, some 10km from Costa Ballena, and experience nature in its splendor.
The Ballena Marine National Park is the major attraction in the area. Created to preserve the fragile marine ecosystem and natural habitats of the marine species, it covers around 110 hectares of coastline and 5300 hectares of ocean. Attracting millions of tourists to its beautiful coral reef each year and the park encompasses two gorgeous beaches of Ballena and Bahia while serving critical habitat to the endangered turtle species and various marine life.
Not surprisingly, the Ballena Coast has sprouted a variety of interesting international eclectic communities that feature an ever-expanding mixture of intriguing restaurants, cultural and social events, English-language live theater, wellness-oriented activities, and recreational options that range from the sedate to the extreme.
Travelers of all tastes and budgets will be delighted with the variety of lodging options available in the area. From inexpensive eco hotels to luxury beach resorts and lodges, accommodations are available on Costa Ballena’s coastline all the way from Dominical to Ojochal.
The European styled village of Ojochal is located on the south pacific coast of Costa Rica, 21 miles south of Dominical. The name Ojochal (pronounced Oh-ho-chall), derives from a tree that once dominated the rain forest here. The Ojoche tree is now almost extinct, but the greatest amount of them can be found in Ojochal which means “the orchard of Ojoche trees. The residents of Ojochal are a varied mix of retirees, ex-patriots, Costa Rican locals, French, Americans, Canadians and Europeans – truly a global village. This multi-cultural backdrop adds spice and variety to the rapidly growing business community in “the village” that has something for everyone.
If you are looking for a unique dining experience, Ojochal has a wide variety of unique restaurants with food and recipes from seemingly every part of the planet.
Some of the most popular spots for excellent food are Ylang Ylang, the Lookout, Exotica and Citrus. For those needing a place to stay while visiting, Ojochal hosts a large number of quality lodges to suit any budget. Outside of surfing, sunbathing, and hiking, Ojochal offers a wide variety of daytime activities including: jungle quad tours, river boat tours, kayak rentals, scuba diving, sport fishing, zip lining, cano island tours. One popular excursion is visiting the Isla Garza on the Terraba River, the beginning of one of the largest mangrove systems on the Pacific Coast.
Perhaps Ojochal is best known for its Turtle Conservatory and Marine Wildlife Preserve located on Playa Tortuga or Turtle Beach, directly in front of the village. Between June and February, there is a turtle patrol at night where newly laid eggs are collected, guarded, hatched and released back to the ocean. There is a large study center with a museum and Butterfly Garden. The programs from the Center are multiple. There are the Playa Tortuga caves that very few people know about. Playa Ventanas, the next beach to the north is well known for its 2 large caves, but only a few know of the multiple, large caves of Playa Tortuga.
A principal town in the General River Valley and reputedly one of the fastest growing metropolitan areas in Central America, San Isidro de El General is located 120 km southeast of the capital city San Jose, and 29 km northeast of Dominical in Puntarenas province. A prosperous agricultural town, San Isidro de El General is a key transportation and farming center in the valley, and is the largest town in this region. Lying just a few minutes away from the Pan-American Highway on the slopes of the Talamanca Mountains, this tiny town is a great stopping point for tourists on the way to Quepos, Dominical, the Chirripo National Park, the Parque Nacional Manuel Antonio, or if you are traveling to Panama.
While traveling en route to San Isidro de El General on the Pan-American Highway, one has to pass the dangerous and treacherous Cerro de la Muerte or Mountain of Death. The highest point in Costa Rica at an altitude of over 3,300m (10,824-ft.), this mountain pass offers spectacular views of the surrounding areas and valley below.
Do remember to carry a warm jacket for this trip as the weather here can get very chilly. This pass is named ‘Mountain of Death’ because previously many travelers lost their lives trying to climb over the mountain with its dense fogs, heavy torrential rains and steep cliffs.
San Isidro provides major retail, shopping and services to the southern Pacific Coast of the country, just a short drive to the Costanera Highway and the vacation areas and beaches of Dominical, Uvita, Ojochal, Manuel Antonio and Drake Bay.
Osa Peninsula And Surroundings
The pristine rainforests and the rugged natural beauty of the Osa Peninsula make this region among the most beautiful areas in Costa Rica. Declared one of the most biologically intense places on earth by the National Geographic Magazine, the Osa Peninsula along with Drake Bay have today, become the premier eco-tourism destination in the county. The region offer tourists everything from knowledgeable guides for hiking the rainforest, to whale and dolphin watching tours, to simply lying on the beach and relaxing in the sun. The Osa Peninsula is a secluded nature wonderland, playing home to many of the country’s rare and endangered animal and bird species including the puma, jaguar, Harpy Eagle and Scarlet Macaw. With a large chunk of the peninsula forming the Corcovado National Park, this area has the single largest expanse of a lowland tropical rainforest in Central America and is one of the tallest rainforests in the world.
Puerto Jiminez
Once a very remote town, Puerto Jimenez has become one of the largest towns on the Osa. This laidback town is one of the main gateways to Corcovado National Park. The last town before one can enter the park premises, a main ranger station is situated here with many tourists using this town to stock up on supplies before they trek their way through the gorgeous and diverse wildlife the Corcovado National Park has to offer. With a history of being a key gold mining and logging town before the Park was created, the locals in the area still log and mine gold here, but in much smaller numbers as this entire region is now a protected habitat. In and around Puerto Jimenez, there is much to see and do. Sport fishing excursions can be arranged, while for the more adventurous, hiking, rappelling, mountain biking and kayaking tours are on hand. If you prefer a more relaxed holiday, take a dolphin watching tour of the lovely Golfo Dulce and the Pacific, or simply sit on the beach to view some of the most amazing sunsets in all of Costa Rica. During the day you can explore this small town and its surrounding environs to catch a glimpse of the rare and beautiful Scarlet Macaws as they fly overhead. With some world class angling, eco tours are the major draw of this town where you can spot up to 4 different monkey species and many brightly colored birds.
Golfito
A major southern port until the mid 1980’s, Golfito was the center of banana exporting for the region, with the United Fruit Company’s headquarters being based in the north of town. Since they left, the town has suffered from major economic loss and unemployment, but with the advent of tourism, the community is slowly rebuilding itself on more modern lines. A rustic and tranquil place with plenty of hotels and accommodations, many people use Golfito as a stopover before heading to the stunning beaches of Playa Zancudo, Pavones, and Piedras Blancas National Park. Sportfishing is also another major highlight, with many sport fishermen using Golfito as a home base while they are out catching Pacific sailfish. The best season for this is November to May.
Corcovado National Park
Ecologically varied, the Corcovado National Park is among the most biologically intense places on earth. Located on the wild and untamed Osa Peninsula, this national park is breathtakingly beautiful and is one of the remotest parks in the country. Home to the largest and only tropical primary lowland rainforest in the world, the Corcovado National Park is also the habitat of a plethora of endangered plant and animal species. Created in 1975 to protect this gorgeous region from illegal gold mining and logging, the Parque Nacional Corcovado is today, an extremely popular ecotourism destination. Mostly undisturbed because of its isolation and inaccessibility, it is home to the beautiful Scarlet Macaws as well as the Resplendent Quetzals, the Red-Eyed Tree Frog and the Tapir, the largest terrestrial mammal in Central and South America. Exotic and lush, the Corcovado National Park is home to thirteen major ecosystems that range from mangrove swamps and jolillo palm groves to montane forests, lagoons, beaches, freshwater herbaceous swamps and primary lowland rainforests. Encompassing over 41,000 hectares the park protects over 140 different mammal species; 400 bird species, 20 of which are endemic; 116 amphibian and reptile species, 40 species of fish and at least 500 species of trees. Habitat of the rare Harbor Squirrel Monkey and the Harpy Eagle, the Corcovado Park also is a great place to spot the poison arrow frog, indigenous wild cats, crocodiles, pumas and jaguars as well as four species of sea turtles.
Extremely hot and humid most of the year, this park has plenty of rainfall but is a joy to hike through with its dense forestation that opens up onto stunningly beautiful beaches. With its virgin beauty, visiting this park allows you to experience nature at its finest and promises an incredible adventure for those who dare to trail blaze their way through this amazing region. Hiking is very popular here, and there are four ranger stations found at strategic locations from each other. The best way to see this park is to take a guided tour, as there are plenty of wild animals that roam around. Hire a guide in Drake Bay or Puerto Jimenez to have the perfect adventure vacation.
Manuel Antonio the National Park is perhaps the most popular tourist destination in Costa Rica. It is also the most easily accessible. Just a short distance from the capital of San Jose by domestic plane or car, it is only 20 minutes north of Dominical after the completion of the Costenera Coastal road. This area is known for its beautiful beaches, touristy coastal resort towns and fantastic surfing opportunities. Offering visitors a wide selection of activities to enjoy, including sportfishing and sunbathing, undoubtedly, the biggest crowd puller of this area is the wonderful Manuel Antonio National Park. With its lush dense forestation and stunning shoreline ideal for swimming or bird watching, the Manuel Antonio National Park attracts the highest number of tourists in the country. Manuel Antonio is surrounded by a huge number of hotels and restaurants offering fantastic views of the Pacific Ocean. The national park is home to many endemic species of plant and animal life that you can experience by easy footpath. Nearby sits the town of Manuel Antonio, a good place to use as a base while exploring the park. When visiting the Manuel Antonio National Park, one of the best and more economical places to stay at is in Quepos, around 7 kilometers away. This rapidly booming tourist town is the sport fishing capital of Costa Rica, with its own small airport and boasting a number of cozy hotels, chic restaurants and an active nightlife.
Now with Quepos/ Manuel Antonio so easy to get to, the residents and tourist in the Ballena Coast area are enjoying the activities, tours, events and restaurants in addition to the multiple services that are already offered.