Whether you are looking forward to buy a vacation home or want to make some real estate investment that will give you good returns, Costa Rica real estate market seems to be the right option for you. Here we are discussing a few factors that have made Costa Rica real estate a profitable deal.

1. Costa Rica's economy was based on agriculture and coffee and banana exports dominated the economy until 1998. Since then electronics, technology, and tourism have been the chief source of foreign currency for Costa Rica. With GDP (purchasing power parity) of $50.89 billion (2006 est.) and GDP real growth rate of 7.9% (2006 est.) Costa Rica is going through a booming economic phase. Costa Rica’s economy is based on tourism, agriculture and electronics exports. Coffee and banana exports dominated the economy in Costa Rica until 1998 when technology exports replaced both agricultural and tourism as the top industry. [Source: https://www.cia.gov/library/publications/the-world-factbook/geos/cs.html#Econ]

    

2. With the Costa Rica Government willing to implement the US-Central American Free Trade Agreement (CAFTA) Costa Rica is all set to get an improved investment climate. [Source: https://www.cia.gov/library/publications/the-world-factbook/geos/cs.html#Econ]

    

3. According to statistics provided by the National Chamber of Tourism [http://www.tourism.co.cr/], tourist arrival to Costa Rica increased by 6.4% during the first six months of 2007, compared to 2006. [Source: http://www.visitcostarica.com/ict/paginas/novedades.asp]

    

4. Costa Rican citizens and foreigners have equal rights for ownership of land and property in Costa Rica with some exceptions in case of the oceanfront properties. Foreigners need not live in Costa Rica to hold property in this country. The closing costs of buying property in Costa Rica run about 5% to 6% of the sale price of the property that includes transfer land tax, a stamp tax, and legal fees. [Source: http://www.costarica.com/Retirement/Buying-Real-Estate/Real-Estate-Regulations/]

    

5. Cost of living in Costa Rica is significantly lower than in United States. According to the 2005 Cost-of-Living Survey Mercer Human Resource Consulting [http://www.mercerhr.com], Washington DC is ranked as the 78^th most expensive city of the world, San José is ranked the 135^th in same survey. [Source: http://money.cnn.com/2005/06/21/pf/costliest_cities/index.htm]

    

6. Costa Rica has become a preferred vacation as well as retirement destination. With tourists buying homes to stay at this beautiful country and retired people coming to permanently stay in Costa Rica, there have been a surge in the immigration population of the country.

    

• Immigrants to Costa Rica as percentage of state population - 10.19%

   

• Number of immigrants - 441,000

   

• Net migration rate in Costa Rica - 0.48 migrant(s)/1,000 people.

   

[Source: http://www.nationmaster.com/country/cs-costa-rica/imm-immigration]

7. Foreigners can obtain permanent residency in Costa Rica by applying for the permanent resident status or PRS. There are two different categories of grating permanent residency in Costa Rica,

    

·         Permanent Resident Status (PRS)

·         Conditional Permanent Resident Status (CPRS)

8. Costa Rica is conveniently located at the Central America. It is because of this location that made it possible to easily access American markets as it has the same time zone as the central part of the United States. The country also has direct ocean access to Europe and Asia.

    

9. There is an organized and professional real estate industry in Costa Rica that will help you find a great real estate property as per your requirement.  The Costa Rican Real Estate Association (CCCBR) [http://camaracbr.or.cr/] and Costa Rica Global Association of Real Estate [http://www.costaricare.net] are the two governing organizations in the real estate industry of Costa Rica.

    

Now that you have known all the benefits of investing in Costa Rica real estate, browse through the property listing at TamborHills.com, choose one according to your preference and own your very own Costa Rica real estate.

For details on Costa Rica real estate market, visit www.tamborhills.com

Author Bio - Century 21 Tambor Hills offers real estate investments, development property in Costa Rica beach front, ocean view mountain farm listings. It also has comfortable Costa Rica vacation rental homes and beachfront condominiums for rent. Century 21 Tambor Hills has a proven track record in the Costa Rican real estate market with many happy real estate clients. Visit <a href="http://tamborhills.com">TamborHills.com</a> to discuss your Costa Rica Real Estate investment needs.<br>

<b>Contact Us</b><br>

Century21 Tambor Hills Real Estate & Investments<br>

Los Delfines Golf & Country Club, Playa Tambor, Puntarenas, Costa Rica<br>

Tel: 506 683 0332<br>

Email: <a href=”mailto:info@tamborhills.com”>info@tamborhills.com</a><br>