Buying a house or a lot without being permanent resident in Costa Rica

[CHRISTIAN CLAVET]

Hello Jason, buying a house or a lot without being permanent resident in Costa Rica

Is it possible, recommended and how to do it? I think I should have first a bank account and being resident for this, right?

[JASON HOLLAND]

Hi Christian,

There’s no need to be a resident of Costa Rica at all to buy a home or lot here… or to own a business either. And you don’t need a local bank account.

You can buy property on a tourist visa no problem. There are no restrictions on foreign ownership. (If the property is worth $200,000 or more you would qualify for inversionista residency – a temporary residency category – by the way.)

How to do it? That’s a big question. But basically, it’s a lot like buying real estate anywhere. You have to find a region that you like, property that you like, and all that. You should work with an attorney experienced in real estate, as well as a trusted local real estate agent. Do your due diligence on the property – check that the title is clear, the proper permits are in place if it’s a new development, etc., which your attorney can do. Keep in mind that most deals are cash, some are owner / developer financing, and mortgages are for residents only and even then hard to qualify for.

You can find out more about real estate in CR here: https://internationalliving.com/real-estate/costa-rica/

[CHRISTIAN CLAVET]

Hi Jason, can you provide me with more of these suggestions around the Costa Ballena and Osa Peninsuela:

“A three-bedroom house in Sierpe de Osa on the South Pacific Coast. The three-bedroom, one-bathroom residence has a large kitchen and a comfortable front porch. The river town where it’s located is small but has charming cafés, a hotel, supermarket, and a bakery. It’s also near the soon-to-be expanded airport at Palmar Sur. Price: $69,500.

A small waterfront house in Playa Guapil, just north of Dominical. The two-story, 1,291-square-foot residence has one bedroom and two bathrooms. The area has some of the best beaches on the Pacific Coast, whether they’re for surfing, fishing, or just lying in the sun. Price: $135,000.”

Real estate links working in these areas would be very appreciated. Thanks a lot !

[JASON HOLLAND]

Hi Christian,

Here are a few real estate offices operating in this area, the Southern Zone, that will show you similar properties to those above:

http://www.american-european.net

http://www.propertiesindominical.com

http://www.osatropicalproperties.com

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