Point2 Homes Costa Rica (2024)

FAQs

Can a foreigner buy a house in Costa Rica? ›

Unlike some of the other countries, foreigners have the same rights when purchasing land in Costa Rica as locals do. You can own property outright in your own name or in the name of your corporation. You do not need a local partner, except in cases of beachfront concession property, where special rules apply.

The average cost of a house in Costa Rica can vary widely depending on location and amenities. For example, the typical cost of a house in the greater metropolitan area of San Jose is approximately $180,000 USD. In comparison, a home in the Central Pacific is closer to $230,000 (in 2022).

No matter what type of property you plan to buy in Costa Rica there are good investments. Just like anywhere it depends what you buy, when you buy and where you buy. If you buy the right property in the right place you have a very high likelihood of a good return on your investment.

Figuring out how to rent a house or apartment in Costa Rica is simple. Foreigners are given the same rental rights as legal residents, and it is even possible to rent a place while only having a tourist visa.

Monthly costs for a single person living in Costa Rica fall between $1600 and $2000. In contrast, a retired couple can live comfortably on $2000 to $3000. The figure mentioned above includes all living costs, such as housing, transportation, healthcare, utilities, and food costs.

US passport must be valid for a minimum of one day from the day you enter Costa Rica. As a tourist US nationals cannot stay more than 180 days. For a stay longer than 180 days a residence permit must be established.

While living in Costa Rica may offer advantages such as lower housing costs, universal healthcare, and affordable education, the United States provides a more diverse range of opportunities, amenities, and services, albeit at a potentially higher price point.

Costa Rica does have free public healthcare, but only for Costa Rican citizens who are most financially in need. This means that residents with a job and expats will have to pay for use of the public healthcare system (expats must provide proof of sufficient financial means in order to live in Costa Rica).

Popular expat destinations include Manuel Antonio National Park, Quepos, and Esterillos Oeste, all located along the Central Pacific Coast. While the region offers beautiful scenery and attractions, the humidity and occasional heat can pose challenges compared to the more temperate Central Valley.

Drawbacks include challenging road conditions, scorching heat and humidity, and the need to adapt to a new environment. Consider factors such as lifestyle, cost of living, and climate before deciding to move. Ultimately, the decision to live in Costa Rica depends on individual preferences and considerations.

Do you pay property tax in Costa Rica? ›

Property tax in Costa Rica can be a multi-layered topic but the short answer is that all properties in Costa Rica are subject to a 0.25% municipal property tax. To clarify, that's one-quarter of one percent of your home's declared value.

Owner Financing is available in Costa Rica

The mortgage laws in Costa Rica are very strong so both the buyer and seller are protected if a seller agrees to carry a note.

Who Has to File Taxes in Costa Rica? All Americans living in Costa Rica must pay taxes on any income they receive from a Costa Rican source. This applies to both residents and non-residents.

Tourist stays up to 180 Days: Authorities may permit stays up to 180 days without a visa but are not required to do so. Be sure to leave by your required date of departure.

Costa Rican residency can be obtained through diverse options, including retirement residence, a digital nomad visa, rentista (investor) residency for those with a steady income, and inversionista (investor) residency for individuals making significant investments in the country.

Before relocating to Costa Rica long term, it's crucial to understand the residence and visa regulations. American citizens can visit as tourists for up to 90 days without a visa. However, if planning to stay longer or obtain residency, navigating Costa Rica's immigration process is necessary.

Property tax in Costa Rica can be a multi-layered topic but the short answer is that all properties in Costa Rica are subject to a 0.25% municipal property tax. To clarify, that's one-quarter of one percent of your home's declared value.

Laws Regarding Concessions:

In Costa Rica, beachfront property is considered public land, and individuals cannot own it outright.

In Costa Rica, an annual property tax called the "impuesto territorial" is levied on all real estate, including land and constructed properties like homes and commercial buildings. Costa Rica's property tax rate is typically 0.25% of the registered value of the property, as determined by the municipal government.