Why Costa Rica?

Many friends and family asked us why M chose to purchase a property in Costa Rica. There are emotional motivations and very practical reasons. Costa Rica is a good place to make a real estate investment. It is an economically and politically stable country with a solid middle class. Here is a quote from the OECD 2016 report,

"Costa Rica succeeds in combining rising living standards with sustainable use of natural resources. Incomes per capita have nearly doubled in real terms over the past three decades. Almost universal access to health care, education and pensions has been achieved. Careful management of natural resources has emphasised the protection of forest and the development of renewable energy sources, providing foundations for the strong eco- tourism industry. As a result, the well-being of most Costa Ricans is high, as attested by long life expectancy, poverty rates low by Latin American standards and above-average perceptions of life satisfaction. "

The OECD made an economic assessment in November of 2017. Its takeaway is that exports are strong, however, fiscal policies need reform. I read the 2 national newspapers online: La Nación and El Financiero CR and both regularly publish articles regarding budget and spending reform. When you think of it, what G20 country does not require fiscal reforms too.

Specifically M chose to purchase in this area for a number of reasons. His friend, Jon has lived here for 26 years. Jon has successful purchased and sold a few properties. Through the surfing community, M met several ex-pats who own property and enjoy living here. Pavones is one of the most famous surf breaks in the world. The remote and rural nature of this area appeals to him.

Purchasing raw land up in the hills rather than a beach lot has many concrete advantages. The lots above the beach are titled. This article in the Costa Rican Times goes into detail the ways to own CR real estate. The short version is that the Costa Rican government owns all the beachfront in the whole country. You can not build immediately adjacent to the beach. All that land is public. Anyone can camp or squat on the beachfront. There several Fish Camps along the shore were the fishermen have built shacks and pull up their boats. Nationals and foreigners can lease a concession in the maritime zone for residential or business. A couple of friends have built lovely homes in the maritime zone and the lease fees are relatively low though the federal and municipal government can always change the rules.

M was secure in the fact that he received full title for this lot. Many of our neighbors are from one extended family who has owned and farmed in our area for generations. They are kind and generous people who are helping us with their knowledge of planting and the land. We have a clean and secure source of water. Down at the beach during the dry season, the water supply occasionally dries up. Residents must truck in water. We are particularly fortunate that almost every day, all day cooling breezes pass through the property. In the late afternoon, it can be very hot and still down at the beach. Though, it is easy to cool off by jumping into the ocean.

All in all, we are very happy with the advantages of living in the hills. We relish our morning coffee where we sit on the deck and are visited by the small birds and hummingbirds that nest in the trees. Myriad colors of butterflies from the gorgeous Blue Morpho to the tiniest white butterflies flit around the yellow flowers of the peanut grass. The pair of Scarlet Macaus that fly over around 8 am. The green parrots and toucans that feast from our trees.