Guanacaste, Costa Rica (PRWEB) March 28, 2007
More and more Americans seeking an affordable piece of paradise are looking toward the Latin American gem, Costa Rica. Known for its exotic animals and tropical landscapes, Costa Rica property provides an ideal setting to acquire land to build a second home. Traveling to Costa Rica is only a two-hour flight from Southern United States, allowing investors and retirees to visit and search for beautiful and profitable investment property.
Not only is the country extremely diverse and breathtaking but also the Costa Rica real estate for sale and development costs are remarkably lower than in the United States. With the US housing and economy faltering, the excellent return on investments make Costa Rica land for sale an attractive buy. (http://www.developingparadise.com) Last year, the U.S. Central Intelligence Agency World Fact Book ranked Costa Rica as one of five countries that stands "head and shoulders above all other nations worldwide in terms of the potential their real estate markets present property investors."
Even considering the downturn of U.S. real estate market, a typical 1-acre lot of Costa Rica property currently costs about 60-80% less than comparables in North America. Raw land being developed in Costa Rica can triple its value in as little as 5 years. In addition, to encourage development and investor interest, the Costa Rican government has reduced the amount of "red tape" necessary to acquire and develop land, and actually provides incentives to solicit foreign investment.
Miguel Tapia, finance director of the Costa Rican Construction Chamber says. "Beach tourism development has brought along with it a series of additional developments, such as construction of banks, commercial centers, storage rooms and other services. The construction industry has been struggling to find enough labor to keep up with growth."
In Costa Rica the cost of living provides another incentive for investors and especially retirees. At $2,000/month of income an individual can live very comfortably, and the tax consequences for owning property are very low. The country has most technology and medical advances that North Americans see daily, plus the quality of life is also at the standards accustomed to.
When Compared to the nearby countries of Panama, Honduras and Nicaragua over the last ten years, Costa Rica has proven a better country for purchasing land, building a second home and gaining consistent appreciation. All facts considered, Costa Rica has become a very desirable market for potential landowners who desire a second home in an exotic locale.(http://www.developingparadise.com).
In a February issue of 'The Tico Times' it states that "with the country experiencing a continuing real estate boom, emerging condo projects such as the one in the western San Jose suburb of Escazu' are a common sight." If land values continue to increase at their current pace, experts predict that acquiring acreage and Costa Rica real estate may be unattainable for middle-class North Americans within a decade.
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