Costa Rican economy is stable, progressive and booming, with equitable laws that are foreigner friendly. The last 20 years yielded changes in government policies toward foreign investments and overall economic growth. The Central American Free Trade Agreement, (CAFTA), with the United States is one such policy allowing trade between both countries, while at the same time, enticing vanguard industries to invest.
As companies such as Intel, Procter & Gamble, Citibank, 3M, KPMG, Lucent Technologies, Baxter Healthcare to name a few, are investing and locating divisions of their corporations in Costa Rica, the Costa Rican Gross Domestic Product (GDP), rises, making it an excellent time to invest in Costa Rica.
The outlook on the horizon for Costa Rica is healthy, as it has maintained economic and governmental stability for decades. Costa Rica has one hundred years of solid government established on democracy, similar to that of the United States, with an elected President, two elected Vice Presidents, a judicial system, and legislature based on a system of checks and balances. Combined with a growing economy, a solid infrastructure supporting the economy, a strong educational system, a large middle class, they all give Costa Rica stability and makes investing in Costa Rican real estate one of the most high-yielding investments in that class.
Like California in the fifties, with its limited supply of oceanfront properties, Costa Rican real estate market values increase as demand for property escalates, particularly in Guanacaste. Beachfront real estate values are significantly lower when compared with those in the U.S. In the past ten years, Costa Rica has seen a boom with its’ real estate market. Because of this boom, resale value is climbing, driving retirees to Costa Rica while prime properties are still available and affordable.
In addition to affordability and high-yielding resale opportunities, tax laws make investing in property in Costa Rica desirable. Property taxes are negligible. Other tax laws and legalities in Costa Rica are favorable toward investors including those who seek retirement.
1st Wave Realty will assist you in finding and safely purchasing properties such as, condominiums, villas, and lots of land , in the Pacific Coast region, particularly in Guanacaste. Our expertise is with beautiful properties at or near beaches, rivers, and mountains.
The schools, culture, and businesses, are all thriving. Costa Ricans pride themselves with the education system. Ninety three percent of the population is literate. Going to school is mandatory and largely government subsidized. Private schools, American, German, and Japanese, add to the quality of education in Costa Rica. Costa Rican children spend six years in elementary school and six in high school, with some of that time spent towards focusing on a career.
In addition to education, Costa Ricans place prime importance on culture, especially high culture. Costa Rican culture is based principally on Western traditions. They give their full support to the arts.
Like education and culture, the business environment is dynamic, as well. What used to be a largely agricultural country exporting coffee and bananas primarily, is now a very technologically savvy environment with local businesses competing globally. Today, Costa Rica exports electronics and textiles. Ecotourism is growing, making it an essential part of their economy. The medical field, as well, enjoys rapid growth, with the level of medicine being comparable to that of highest U.S. standards.
Costa Ricans also enjoy a healthy lifestyle. The water is drinkable and safe in Costa Rica. Unlike Mexico and other Central American countries, the Costa Rican government takes care of the quality of drinking water. Medical facilities are excellent and well-equipped. Doctors and dentists are as well educated as Americans with many educated in the United States.