Caribbean Switzerland: stability and 30 % discounts
15 April 2009Stable policy and economy, low cost of a life, the sun all year and infinite beaches of white sand…. No, it is not paradise; it is Costa Rica, very small and very attractive to the investor country in Central America.
It is no wonder, that Costa Rica attracts investors, especially from the USA and Canada. Since 2000 demand for the local real estate grew constantly, and for last 5 years the gain of purchases by non-residents has made 27 % a year.
In 2008 foreigners have got the real estate on $300 million here, habitation of all types, and also shops and restaurants.
Country houses are often got not only for the purpose of investments or as habitation for holiday, but also as objects for rent.
Some people, however, get here forever: stresses here are quickly forgotten and you can leave happily under southern stars.
This last category of foreigners promotes development of local building sector.
it is not difficult to buy real estate in Costa Rica, thus the tax of transaction will make 4,5 % and hardly more than 1 % will be added by other taxes.
But there are also some details. So, on a coastal line the foreigner, who was not the resident of Costa Rica within 5 years, can become the owner of object of the real estate only on 49 % – «the control package» should belong to the local resident.
Purchase procedure is simple enough and does not take a lot of time: having signed contract about purchase and having paid 10 % of cost, the buyer expects object check on cleanliness from pledges and debts and pays the remained sum at the moment of transaction registration.
By the way, Dutches and Italians are the main buyers after Americans and Canadians.
