Costa Rica Retirement Vacation Properties

Best advice to follow whether you are buying a development property, investment property or a retirement home.

Whether you are buying a large development tract of land or a condo for your residence, the very best advice you can receive is “No shortcuts”

Almost every horror story I hear is often traced to this. 

People arrive new to the Country, anxious to make friends and blend in.

When people come to Costa Rica they are greeted by warm, friendly people, beautiful country and a nice climate. It is like arriving in paradise.

Among us there are a few that unscrupulously await your arrival. These are the ones that have a brother or friend who is an attorney who was the former President’s private legal counsel and is very highly connected.  Then there are those who have all the inside connections to the Costa Ricans to buy land.  These people are always the most friendly won’t let you pay them anything for help in most cases and ready to serve you in your search for Real Estate in Costa Rica.

The net result in the bad experiences is everything ranging from buying land not properly titled, different size than described, not usable for development, long distance to services with the promise that government is going to bring services (LOL) you end up a partner with someone you don’t know and never agreed to. These are a few of the things that happen when one takes the shortcut.

By shortcuts, I mean not following what you would normally do in your country.  There are a number of horror stories all over the world as a result of shortcuts as described.

There are a great number of fine attorneys, Real Estate professionals in Costa Rica and the many other services required to accomplish buying Real Estate in Costa Rica.

Our own company, Costa Rica Retirement Vacation Properties offers a Property Scouting Tour that if used to the fullest extent, covers all aspects of buying your home and getting here to live.

Costa Rica is a wonderful country with a lot to offer, especially in these times. In many ways it is the solution. don’t compromise the opportunities here by taking shortcuts.

The employees and clients of our office in South Pacific, Uvita have taken the preservation of the environment seriously.  We provide resources for education on this matter, urge our clients to chose the responsible development and construction techniques, and try to be careful which properties we represent on our website at South Pacific Real Estate Services.  We also involve ourselves with ecological volunteer organizations and have helped to organize “Save the Earth Day”. This is our commitment to our clients and to this beautiful country.
If you are interested in Environmental issues and would like to participate in helping us maintain our beautiful country, please contact us:

Annie Drake: Cell: (506) 8898 0546
Location: Uvita/Dominical office
Position: Marketing director, south Pacific
Telephones: (506) 8897 6615 - Toll Free: 1 866 512 7781
Email:  annie@southpacificrealestateservices.com

Therefore, it is disheartening when the few destructive developers seem to get away with things.  Laws can be slow here and some people know how to evade them well.  One woman and her associates have seemed to evade the law for many years.  Just within the last 2 weeks, the Ministry of Environment and other local agencies are beginning to take steps and all of the locals are celebrating!  Please see the following article from A.M. Costa Rica.

7/11/2008
Article, www.amcostarica.com July 11th 2008Projects for 1,000 new Pacific homes reviewed
By the A.M. Costa Rica staff

Environmental investigators in a sweep through the south Pacific coast have turned their eyes to five large projects in the Cantón de Osa that will bring 1,000 new homes to the area.

Investigators are checking out Osa Tropical, Sueños del Trópico, Vistas sin Fin, Trópicos Verdes and Radiant Sun Valley with close inspections, the Tribunal Ambiental Administrativo said Thursday in a press release. The tribunal seemed surprised by the extent of development in the area.

The five projects cover more than 800 hectares (1,977 acres) along the Pacific coast. The projects are in the vicinity of Ojochal and Chontales de Osa. Around 1,000 luxury homes are planned in the projects, the tribunal said.

The investigators expressed concern over the pressure on the landscape, the nearby forests, the water resources and the fragile mountain soil that such developments would have.

The tribunal is an independent agency under the Ministerio de Ambiente y Energía, and it includes judges that are empowered to assess environmental fines and order compensation to the environment. The sweep this week is being done by representatives of many other agencies, too.
Already the sweep has produced its first action. The Tribunal said that a backhoe was confiscated on the Radiant Sun Valley development because it
was carving a roadway in the protected zone near a watercourse. Investigators said they presumed that the road would eventually cross the waterway to another part of the project. Radiant Sun Valley has 111 hectares or 274 acres, according to the tribunal.

Osa Tropical, a project that is being constructed in 11 stages in Ojochal also had an environmental problem, according to the tribunal. Some of the new homes there have portions in the protective zones of watercourses or have been built in locations with grades of more than 60 degrees. Investigators also said that the construction is visible from nearby Bahía Ballena.

Radiant Sun Valley is owned by the same corporation as Sueños del Trópico with 389 hectares (961 acres), Vistas sin Fin of 149 hectares (368 acres) and Trópicos Verdes of 51 hectares (126 acres), according to the Tribunal. The report Thursday identified the corporation as Ejecutivos del Cielo S.A., set up by Canadians. In all, some 800 homes are planned her in the Chontales vicinity. The plan envisions lots from a third of an acre to an acre and a quarter, the tribunal said.

Investigations were to continue today in the coastal area south of Dominical.

We posted a previous article on this location due to the new road to the coast opening soon.  I had some correspondence with the owner to get an update on things so we may comfortably market this one to our clients.  This project is in Puriscal which is now 45 minutes from San Jose and soon to be 20 minutes as the first toll gate of the new road will be 5 minutes from this project. Pricing is unbelievably low for the 1 plus acre gorgeous mountain view lots. 
This is a very high recommendation to investigate either for retirement home or investment.

Here is the owner’s response which was very encouraging and a plus to what he is already offering.

I will share it with you here.

This location, pricing and amenity package is one of the best I know of makes for a prime  Costa Rica retirement location.  Once the locals uncover the secret, it will move fast as everyone wants to avoid the hustle bustle of San Jose but still need close proximity.

If you are looking for a lot that is at least one acre, gorgeous views and will soon be 20 minutes from the Capital, this is it.  I am encouraging my investment clients to buy a package of these for resale in two years as well.

As you can see I am very high on this one. One of the reasons is that we have sold almost all the good lots we could find in Atenas in the last short period of time. This project is across the valley form Atenas, has the same views and now going to share the same new access road to San Jose area.

This one is an a classic “right time right place opportunity”.  If interested in more information on this property , call me toll free at 1 888 581 1786 -  ask for Robert or Rudy.

Everyone in the business community is pleased to hear that Jaco Beach won the distinction as Central America’s Leading Beach!   The World Travel Awards were established in 1993 to acknowledge, reward and celebrate the enormous achievements in all sectors of the global travel industry.   Every year World Travel Awards Fever hits the travel community around the world, building to the crescendo of the annual Awards Presentation, when tens of thousands of travel professionals cast their favorites on the web and glue themselves to official World Travel Awards web site to learn who will receive the highest accolade of the year and this year:  Jaco Beach won the Leading Beach in Central America..

If Jaco beach is an area of interest to you,  get all information for the complete are from:

Carol Oonnell: Cell: (506) 8318-0717
Location: Hermosa/Jaco beach
Position: Marketing Director Central Pacific
Telephones: Office (506) 2643-5113
Toll Free: 1 (866) 374 -8522
Email: carol@costaricaretirementvacationproperties.com

When one thinks of Latin America the first things that often come to mind are poverty, political unrest and corruption.  Economists Jorge Suarez and Aurturo Porenaske stated on CNN that in economic terms Latin America is currently better off than the U.S. With the exception of Argentina their statement is true. The investment climate and consumer confidence remain strong in the region. The banking industry also remains solid. Venezuela has the least expensive gasoline in the world and Brazil is almost exclusively reliant on ethanol. Smaller countries like Costa Rica are also less severely effected by economic downturns than larger industrial nations like the U.S. They also find it easier to roll with the punches.

Hi Robert:

It is so nice to deal with a company that has high standards for customer service!!

Lynn Peak

Reply to Lynn:

     Hi Lynn:    You have no idea how nice it is to hear from people in that manner and I thank you whole heartedly for your attention to this as well.

The work that goes into protecting clients in this whole process is often never seen by the client as they are so preoccupied with their investment they are about to make, and  naturally so.  When I receive these, I can’t wait to pass it on tour people.

I will share a small story that I thought was quite timely when Rudy was with a client in the area you are looking to reside.

Right when the client was present,  the guy was giving him a rough time as some of the developers routinely do. He said to Rudy that “Your company is getting a bad reputation here because it takes so long to close on deals for us”

Rudy’s tuned to his client who was present and said calmly “I guess that’s why we have never had a problem after a sale and you can feel that you are in good hands: Very appropriate.

Anyway, thanks again and we hope all goes well and you can become neighbors soon.

All the best,

Robert

Popularity - North American retirees or expatriates seeking a hideaway, but now the appeal of Costa Rica is reaching a wider audience as eco tourism takes off in Costa Rica in earnest and the numbers of those seeking second homes or a brand new home in Costa Rica are growing. Natural beauty of Costa Rica - palm lined beaches, a coastline that brushes both the Pacific and Caribbean oceans, magnificent mountains and rainforest - and these natural attributes are attracting more and more tourists to the country every year. Investment is required into accommodation and general tourist facilities and to this end the government of Costa Rica are working to make the investment environment as attractive as possible.

For the investor - there are many opportunities in Costa Rica’s tourist sector. Alternatively a real estate investor could seek to target the growing numbers of visitors seeking quality self catering properties for short term rental or those looking for holiday properties for sale in Costa Rica. Many resorts in Costa Rica have seen some of the greatest gains in property value of late. An investor can look to some of the good rental yields as well if he carefully selects the product.

The retirement market - Costa Rica with it’s easy access from North America, is already home to many retired Americans, the cost of living is low, property costs are cheap and the country is regarded as safe therefore it is of appeal to a growing number of retirees seeking a cheaper alternative to their home country to make their retirement savings go that much further. Further, it is a fun country with nice people and it’s beauty never ceases to cause one to marvel when looking at the mountains, valleys and oceans.

The investment climate - Costa Rica is and has been politically and economically stable for many years. It has no army to defend it either and has a strong positive bond with the US which makes it a safer emerging market for property investors than many in Central America.

The economy has been gaining strength since 1997 and the government is committed to maintaining the strength of the economy by attracting more overseas investment and offering significant investors generous tax breaks. The long term appeal of the Costa Rican property sector becomes obvious.

Playas del Coco will be getting a major supermarket as part of the Pacifico project there.

The Jack Parker Corp. said a 20,000 square foot Auto Mercado will be part of a commercial development that also will contain other small businesses to service the 175-acre project.

The New York-based company says it has 56 residences under construction and scheduled for completion starting in March. The company set Saturday as the official start of its sales effort.

Playas del Coco also is the home of the sprawling Mapache condo development that transformed the fishing village into a major real estate marketplace.
The Jack Parker Corporation said in a news release that it is looking to Costa Rica because the U.S. real estate market is slowing, there are runaway home prices there and land is disappearing.

The 500 residences within Pacifico include 350 condominiums, town homes, and villas, 20 rental apartments and 150 single-family home sites. Floor plans are available with one, two, three or four bedrooms, and prices start from $150,000. Home sites, most with Pacific Ocean views, range from the $90,000 to $400,000.

Playas del Coco has been a construction hotspot since flight operations have increased at the Daniel Oduber airport in Liberia. The Jack Parker Corp said its development is just 22 miles from the airport. Lately some slowing in real estate sales in the Playas del Coco area has been reported as a result of the declining U.S. market.

Courtesy of: AM Costa Rica Staff

Firstly US chipmaker Intel have announced that they are to plough substantial investment into their Costa Rica plant and increase the numbers of jobs available to the local labor force, secondly a major UK based tour operator are launching direct flights to Costa Rica from London, and thirdly the Costa Rican government have extensively relaxed their immigration policies for investors bringing funds or skills to their country.

As Costa Rica is already one of our preferred emerging markets to watch, all this good news has got us excited! And property investors who were wondering whether the time is right to commit to Costa Rica may well be positively influenced by the abundance of positive news coming from this Central American country today.

First up, Intel has announced that they will commit one hundred and twenty million US dollars to improve and expand their Costa Rica processing plant. The direct investment will help create five hundred new jobs which will directly assist the local economy and help boost the appeal of commercial property in Costa Rica.

This news coupled with the fact that the Costa Rican government has just announced a significant easing on immigration restrictions for investors, employers and key employees means that the country just became an even more attractive prospect for companies looking for a more tax efficient, lower cost location for their operations. This will likely have a direct effect on the demand for commercial property, it may well boost demand for residential property in the main Costa Rican towns and it will undoubtedly raise the profile of Costa Rica globally.

IT giants Hewlett-Packard are another company expanding operations in Costa Rica in 2006; they are to double their locally sourced workforce by 500 and to begin a massive expansion of business interests in Costa Rica. Both HP and Intel will benefit from the fact that the immigration procedures their expatriate management will have to go through have been simplified by the government. According to the Costa Rican Minister of Foreign Trade Manuel Gonzalz Sanz, the new policies will help make foreign direct investment into Costa Rica more attractive and therefore boost the amount of investment the country receives annually.

This fact alone could result in an intensification of investor interest in the property market in Costa Rica…but the additional news out from the UK this week that First Choice are to begin direct flights from London in 2007 to Costa Rica means that hungry British property investors are probably about to descend on Costa Rica in their droves! There is much promotion of this stunningly beautiful and ecologically diverse country in the British press as a result of the First Choice announcement, and those who were unaware of the property investment potential in Costa Rica are now rapidly making themselves aware! Direct flights will begin from London’s Gatwick airport from May 2007 and already the flights and holidays from First Choice have gone on sale.

So, in terms of Costa Rica investment property news there is much to be positive about – but as always, we recommend that any real estate investor considering making a commitment spends time doing their due diligence on the potential profitability of a given property type before buying.

Best Destination

At the International Tourism Fair (FITUR in Spanish), held in Spain, the U.S. Travel Weekly chose Costa Rica as the best destination in Latin America. The variety of attractions and the many chances a visitor has here to enjoy the best of vacations were among the reasons to bestow the award on Costa Rica, whose competitors included Panama, Chile, Peru, Argentina, and Brazil.

The Costa Rican Minister of Tourism ,Ricardo Benavides, pointed out that the best feature of the award is that it results from the choice of the magazine’s 140,000 readers, who belong to the U.S. tourist industry.

The readers also remarked that Costa Rica is one of the most saleable destinations in Central and South America because of its mild tropical weather, natural and adventure attractions, exotic sites, and the warmth of its inhabitants.

Spanish Company to Build a Billion Dollar Project Near Puerto Caldera

Akasvayu and Islas Pitusas S.A. Will spend $970 million developing La Roca project near Puerto Caldera, Puntarenas on the Pacific Coast. The project will include three five-star hotels, over 1000 homes, a casino and a golf course designed by Australian Greg Norman.

2006 was the Year of a Construction Boom in Costa Rica
by Karen Retana

Foreign investment and better access to credit contributed to Costa Rica’s construction and real estate boom in 2006. Construction permits increased 70% during the year. In 2005 construction permits were issued for nearly 3 million square meters of construction. This year the figure reached 5 million square meters. About one third of the permits were for the Central Valley because of the variety and infrastructure found here.

New Marinas on the Way

More than 21 new marinas are scheduled to be built in the coming years in Costa Rica. There will be a total investment of around $400 million dollars required to build the new marinas. With the construction of thee marinas almost 6000 boats will be able to dock in Costa Rica.

The Spanish firm Grupo Nyesa says it will invest $600 million in a hotel and resort complex in Esparza.

The location is in the area known as La Roca in the province of Puntarenas east of the city by that name. The company is a principal player in the United States and Europe, frequently linked to Sol Meliá, but this is its first effort in Latin America. The company had purchased 200 hectares for development, about 494 acres.

The company made a courtesy call on President Oscar Arias Sánchez Tuesday. Later Casa Presidencial said that the project would generate 5,000 new jobs. The work would begin in three to four years and be finished in 10, said Casa Presidencial.