Costa Rica Real Estate

Aside from the Tamarindo nightlife, the great restaurants, and the amazing resident communities rising everywhere in the Guanacaste coastal region, there is plenty of eco-friendly and informative tourism/traveling to be done in this area. Upon your stay in this area take advantage of the fact that Guanacaste contains some of Costa Rica’s most amazing national parks and wildlife refuges. As a country that prides in its biodiversity and whose economy depends much on its wildlife, these are well kept, informative parks, with park rangers at your disposable to explain and show every kind of species found, the importance of the protected areas and their effect on the environment.

Here is a brief guideline of places you ought not to miss during your stay in the area. Take advantage of your time here; take a break from surfing or sun-bathing and travel around for a day or two visiting whichever of the following you find interesting. This region holds plenty of them, so you might just have to come back or temporarily live here in order to explore them all!

- Area Conservación Guanacaste / Guanacaste Conservation Area: Created in 1989, this extensive conservation was created to connect Santa Rosa National Park with the high elevation cloud forest of Orosi and Cacao volcanoes and across the continental divide to the Caribbean rainforest of Northern Costa Rica.

- Barra Honda National Park: located 22 km north-east of Liberia, the parks covers 2,295 acres of land, designed to protect an intricate and extensive cave system located underground. In order to visit the caves you must contact the Park Service office in San Jose, get permission, and arrange a visit date with a guide.

-Las Baulas Marine National Park (Parque Marino Las Baulas): located in Playa Grande, about 15-20 km from Tamarindo, this beach was declared a national park given its popularity as a nesting spot for the giant Leatherback Sea Turtle. All visitors on the beach at night must be accompanied by a certified local guide (available at the entrance to the beach during the nesting season).

- Palo Verde National Park and Lomas Barbudal Biological Reserve: located in Guanacaste, it is approximately 30 kms west from the town of Cañas, between the Bebedero and Tempisque rivers. Overall this park extends over 16,804 acres of land subjected to seasonal floods that on occasion make transform the area into an immense lake. The Palo Verde sector comprises 13,058 acres of varied habitats in the lower Tempisque River basin. Along with Lomas Barbudal Biological Reserve, it is considered one of the sites with the greatest ecological diversity in Costa Rica, encompassing more than 15 different kinds of habitats.

- Parque Nacional y Volcán Rincón de la Vieja (National Park and Volcano Rincón de la Vieja): located 27 kilometers north-east from Liberia, it extends over 14,083 acres situated on the Guanacaste Mountain Range. Highlights of this park include six different life zones, abundant wildlife, gorgeous waterfalls, fascinating geothermal features, and an active volcano with nine eruptive points, though only once remains active today.

- Santa Rosa National Park: one of the first national parks to be declared, Santa Rosa is important for its history, geology, and ecology. The old hacienda building has been preserved as a cultural and historical museum, commemorating the Battle of Santa Rosa in 1856. The forested portions of the park comprise a large percentage of what remains of the tropical dry forest habitat throughout all of Central America.

- Ex-Hacienda Murciélago National Park: located in the northern sector of the Santa Rosa National Park, this area is open 24 hours a day, with park-guards on site from 8:00 am to 5:00 pm. Categorized as a dry forest, the park counts with a series hikes that allow you reach a series of bays and beaches that you may explore: El Hachal, Coquito, Danta, Santa Elena and Playa Blanca.

- Ostional Wildlife Refuge (Refugio de Fauna Silvestre Ostional): This refuge is a 200 meter sector of the beach between Punta India (India Point) and the estuary of the Nosara River, including the Ostional populace. This fraction of the beach was converted into a private refure in order to protect a major nesting are for Pacific Ridley Sea Turtles, as well as offshore waters.

- Bahía Junquillal Wildlife Refuge (Refugio de vida silvestre Bahia Junquillal): open 24 hours a day, with park-guards on site from 8:00 am to 5:00 pm, it was donated in 1988 and is located 46 kilometers north of Liberia. The park occupies 2km of beach and covers 505 acres that include an original dry forest and numerous tree species and a mangrove. There is a camping area and series of trails.

- Bosque Diria Wildlife Refuge (Refugio de vida silvestre Bosque Diria): created in 1991, this refuge extends over 13,402 acres, south of Liberia 9 km from Santa Cruz. It protects tropical forest in the central highlands of the Nicoya Peninsula, including the watersheds and river basins of Rio Diriá, Rio Enmedio, and Rio Tigre.

-Bahía Camaronal Wildlife Refuge

- La Pacifica Private Biological Reserve (Reserva Biológica Privada La Pacífica)

- Isla Pájaros Biological Reserve (Reserva Biológica Isla de Pájaros)

Not only has Costa Rica hit the development bug, but it has caught the marina bug as well. In total there are 17 marinas waiting to obtain authorization in order to begin construction or finish what they have already begun. Currently in construction are the Marina Pez Vela in the Quepos area, Papagayo Marina in Liberia and Marina Bahia Escondida in Golfito. However, there are a wopping 14 marinas stalled, by tourism and governmental regulations. Those three on the way, and hopefully running by 2009/2010, are projects with costs that range from $14,947,116 up to $55,000,000. Marina Papagayo counts with 179 docking spots, Bahia Escondida (the most expensive of all) will have 226 docking spots and Marina Pez Vela is expected to have around 300 spots for the boasts to choose from.

In order for those stalled to be approved they must prove to be environmentally sustainable and economically benefit its surrounding communities. Any of the three areas previously mentioned where the marinas will soon be completed are lucrative zones. If looking to invest or develop, all three are commercial areas and booming in residential developments. They are all becoming small cities that are not only beautiful, but can offer any service you may need and provide you with a comfortable lifestyle.   

The beautiful district of Cobano, Puntarenas finds itself a coveted spot for a many luxurious resorts, mostly along the Tambor, Delicias, Florida and Mal Pais regions. These are all promising coastal areas, semi-secluded and private enough to make each development a perfect getaway. The following is a brief description about several of the feature projects that on the way:

The Preserve: located in Playa Tambor, this is a master plan developed by the Doblon de Oro, and MH firms and Coldwell Banker. The development includes condominiums and a luxurious residential area with green zones, walkways and magnificent views, among them of Bahia Ballena. There area 17 lots for sale, at an average size of 1,830 m², at a starting price of $37,500.

Costa del Sol y Ocean Whisper: a 60 to 80 unit condominium development by Tambor Hills Real Estate, which is accompanied by a golf course and located within the Los Delfines complex in Playa Tambor. The condos will be spread among two-floor buildings, holding four units each, two central pools, a gym, spa and communal areas (tennis courts, clubhouse, etc). Prices start at $195,000, and the units range from 65 to 180 m².

Santiago Hills: close to Playa Hermosa, in the Santiago region, this project is commercialized by Costa Rican Coastal Properties and it sells 10 lots, between 8000 m² and three acres, for sale at $175,000 up to $400,000. This development targets those interested in a nice, calm area, surrounded by natural wildlife and close to supermarkets, schools, clinics and other public amenities.

Punta Gigante: one of the largest projects along these regions, being developed by Globo de Oro, PM Architects and Coldwell Banker. It comprises 120 acres, soon to be urbanized in Bahia Gigante. For the moment the project entails as a whole condominiums, town houses, a marina and a five star hotel. In its entirety it will count with ample green areas, parks, an equestrian center, hiking paths, a golf course and of course gorgeous views. 

Tambor Hills: located in Tambor, only a few kilometers from the beach, it consists of small lots raging from 5000-8000 m². Up to date there are 45 lots for sale and residential development, all including water, electricity and paved roads. Prices go for around $275,000, depending on its size and location within the development.

Today Costa Rica is a world renowned ecotourist attraction; meaning, the country has found a way to economically flourish through the tourism draw that is its rich flora and fauna. Though locals and tourists understand that ecotourism implies that the countries touristy developments and changes are being done in a sustainable or eco-friendly fashion with the environment, they truly do not comprehend its relevance in the future of both Costa Rica’s economy and its natural habitat. For future and current investors it is important to understand what ecotourism means and implies, not only because its guidelines will affect your investments, but also because what made this country so popular—what is giving you a profit—is its wilderness and ravishing beauty, which if not treated properly can easily be spoiled amidst such rapid growth.

What exactly is ecotourism? Ecotourism is purposeful travel to natural areas to understand the culture and natural history of the environment; taking care not to alter the integrity of the ecosystem; producing economic opportunities that make the conservation of natural resources beneficial to local people. The road to finding a balance between environmental conservation and tourism’s profit-seeking businesses is not an easy one to reach. Costa Rica has been juggling what to environmentalists seem opposite forces for quite a while now, more so, during the past few years as the country’s popularity increases. What has made this country’s ecotourism industry successful is its ability to recognize that as much as its economy may profit from tourism and its investors, this profitable sector would not exist were it not for the country’s unique ecosystems. Hence, both the government and ecological foundations recognize that in order for tourism to be profitable, Costa Rica’s environment must remain a priority. A significant factor that has allowed ecotourism to properly develop in Costa Rica is the fact that 21% of its territory is protected by natural parks, and biological reserves. These not only prove to educate and entertain tourists, but are profitable and serve as professional research centers.

Though ecotourism aims to set infrastructural demands these cannot always be met or developed in accordance to the speed with which the changes are happening. Thus, it is utterly IMPORTANT that awareness not only come from or be enforced by local institutions and regulations, but also practiced by those coming into the country. The government, foreign and local investors, and tourists are making a profit out of an ecosystem that is very fragile and needs protection now more than ever, granted everyone wants a slice of the same apple. During a time in which we are beginning to feel the repercussions of human activity through the effects of global warming, it is important to make sure that construction and current developments abide to what may seem unnecessary rules, and try to give back as much, if not more, of what is being taken.

Over the past few months continuous updates have been published about the formation and process of a regulatory development plan for popular commercial growing coastal zones. Jaco’s zoning plan has been under dispute for the longest time, both by its local government (municipality) and the ICT (Costa Rica Tourism Institute). Zoning for Jacó and its surrounding communities (Herradura, Tarcoles and Guavalillo) has already been laid out. However, it seems that a resolution on the town’s on-going development will soon be stated. Though the plan’s draft is nearly done, the required approval of the National Housing and Urban Development Institute, SETENA (The Environmental Secretary Office) and the Costa Rica Tourism Institute, is expected to delay its enforcement for another year. The plan will control construction zones (ie- distance from construction site to the ocean), and other issues such as regulating the height of buildings—no building can exceed the beyond the height of 25 floors—and the kind of businesses that are opened along the town’s main highway, which will only be allowed to be tourism related. Community and government representatives have been working on this plan since 2005, with the purpose to put an end to unregulated and chaotic development, and in hope that once the plan is established Jacó will grow in an orderly fashion. This is not only for environmental reasons, but also to beautify and keep restrain on areas that once were small, surfing beach towns and have rapidly become Costa Rican Real Estate hot spots .

Condominiums are “in” in the coastal development business. From Jaco up to Tamarindo, you can see tons of 10 to 20 story buildings rising on beachfront properties ready to offer foreigners a second home, or retirees a new home. Jaco, once a small town, with bars and small quaint hotels, is rapidly shifting toward the new fashion in tourist investments’: condominium towers.

Currently in progress there are the Pacific Set tower, Diamente del Sol and the Ramada chain with seven ten-story towers that will add 264 condos and 14 penthouses to the market, in addition to a luxury hotel. The Pacific towers, to be located at Jaco’s beach entry known as Bohio, will include 13 stories, a pool on the third floor and a casino. Diamente del Sol will have 156 units distributed throughout two 8 story towers and three 10 story towers. Including the previously mentioned, those built, and those to come, the estimate is about 1500 to 2500 individual condos, just in the Jaco area. On average, a two bedroom, turnkey beachfront condo runs among $45,000- $499,000. A bit to the south of Jacó are the Hermosa and Esterillos beaches, both also undergoing condo developments. In Esterillos there are large two projects in the development, which include condominiums, houses and a name-brand hotel, both with golf courses. Further north in the Flamingo - Potrero area there is an estimate of about 40-50 condos, ranging from 298,000-359,000 dollars for a two-bedroom, two-bath ocean view apartment.

Though tall hese areas are being developed nothing compares with Tamarindo, were the numbers of condos rising exceeds any other place. Here, a three bed condo on average will cost you $350,000 - $550,000, not guaranteeing an ocean view. Though Guanacaste Costa Rica Real Estate is a viable business, and price range does not seem to be much of an issue, given that the most expensive condos seem to be the first sold, it's still worrisome whether so manu condos can be sold. However, for many right now, Costa Rican real estate implies acquiring a little piece of paradise, severe tax breaks and great waves all year long.

Do you like Costa Rica? Are you interested in investing or owning a property in one of the top ten best places to live in the world! Here, is a brief recap of “must know” buyers’ facts that will help you get a clearer picture of what it means to invest in Costa Rica real estate:

·         Regardless if a property is owned individually, jointly, in trust, as household property or placed in the name of a corporation, ownership is guaranteed.

·         Such constitutional rights have contributed to “Costa Rica ranking in fourth place at the world level as an ideal environment for foreign investment” (Costa Rica Chamber of Commerce).

·         Beyond what Costa Rica has to offer – wildlife, natural beauty, political stability, ideal weather, and the warmth of the “Ticos” (its people) – ownership of real estate is fully guaranteed by the Constitution. Basic rights of its citizens are based on a democratic government and, unlike many other countries, extend to foreigners as well.

·         Regarding financing, it goes as follows: for non-residents it is available through national and international banks such as HSBC, Scotiabank, Citi Group and others.  Interest rates are competitive and be aware that the yearly property tax goes for only 0.25% of the value (Ex: $100,000, year tax $250).

If you have any further questions regarding a possible investment or interest in Costa Rica, please do not hesitate to post a comment and we shall respond promptly. We will try to answer all of your doubts and hopefully find the home or appropriate investment for you!