Costa Rica for Retirement "Getting the old out of the cold!"
Retiring to Costa Rica “middle class retirees from the U.S. are once again looking into retirement in Costa Rica ”
Moving South when we retire is as American as apple pie. With an aging population, demand for real estate in warm weather destinations within the U.S. has climbed sharply and steadily over the last generation. In the last fifteen years the American middle class retirees have been priced out of the tropical retirement real estate market in the United States. Naturally, eyes turned to foreign countries with tropical climates. U.S. expatriates and retirees began targeting these destinations bases on safety, quality of life, tax benifits, low ownership restrictions and proximity to the U.S. There is no suprise that Costa Rica started to become a very popular retirement destination for U.S. citizens. In the last 15 years, retiring to Costa Rica has become increasingly popular among American baby boomers. The low cost of living and healthcare, low crime rate, neglegable property taxes and beautiful climate have brought many expatriates to Costa Rica for retirement to "live like a king" on a modest pension.
Evidence of the increase in demand is in the numbers. Prices rose anywhere from 15% to 40% per year during this time period. By 2006, the average retiree in the U.S. was priced out of the Costa Rica real estate market! Aggressive real estate developing and speculating in Costa Rica was the standard that drove prices through the roof in popular retirement locations; it was believed to be "a can't loose" investment. As the world market has changed over the last two years, we are left with a much different industry landscape in Costa Rica real estate. Speculators and developers have over-bought, credit has dried up and demand has dropped for Costa Rica real estate. Prices have come down as much as 30% - 40% in many cases on ocean-view land and luxury homes and condos, turning the eye of the middle class retiree in the U.S. back to Costa Rica as an option for affordable luxury retirement property and second homes. This combined with the growing discontent with the current “State of the Union” are all working together to create a new influx of retirees to Costa Rica.
Vibrant expat communities which combine a unique blend of U.S. culture with Costa Rican culture can be found all over the country. A pure and natural lifestyle, great weather, high quality and affordable healthcare and excellent infrastructure have many baby boomers loving life as retirees in Costa Rica. Learn more about retirement real estate in Costa Rica at www.retirebeachfront.com.
Pura vida,
Max Bitterman
Marketing Director
MaxB@SolPG.com
www.SolPropertyGroup.com
(minor correction of percentage figure on March 8, 2008 by original author)
- solpropertygroup.com's blog
- 635 reads
Comments
you make it sound like "owning" beach land in nicaragua
I think Nicaragua over the past five years has moved to a similar type of law to the one you reference. According to http://www.amcostarica.com/052906.htm it appears that the original maritime law to which we are alluding was passed in 1977, though I don't know what might have been the status quo before that.
Certainly you're right to remind buyers to be cautious in Costa Rica like elsewhere in Central America: the sellers might not be telling you the full story.
WOW GREAT PRICES
I think what your seeing in c.r. is americans, and others selling and getting out of there due to the crime, and that line about healthcare and infrastructure being so great made me laugh so hard I blew tea out of my nose.. the prices all over the place are coming down due to no one buying anything.
americans getting fed up with being robbed and cheated. even their government is stealing from its own people right now, to line their pockets with cash. case in point;
"The court decision Wednesday throws out a 2005 law that was designed to make the two communities cities and allow residents to obtain title to properties on which some of their families have lived for nearly 100 years.
The maritime zone law declares all land countrywide within 50 meters of high tide to be for public use and all land 150 meters further inland to be government property which can be leased as a concession from the government."
AHHH beach front for sale cheap!!!!!! but who really owns it?
prices have come down 300-400%
i am curious what prices are now when prices have come down 300-400%.
it would mean that you buy property in costa rica and you get money back.
that means you buy a house for 100k and you get 200k or 300k from the seller as part of the deal.
i am interested.
fred
Max, It's very interesting on
Max,
It's very interesting on how much cheaper Costa Rica real estate is verses U.S. real estate. Wow..300-400% lower. That's crazy! I think you have me sold.
Victoria
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