In Costa Rica, collection of land taxes became the responsibility of the local municipalities several years ago. In the case of private land (both titled and untitled), property tax previously was at a rate of 6% of the declared value based on the Tax Law No. 7509.
Once you have found a property in Santa Teresa or Mal Pais or Manzanillo that you want to buy, you will need a Costa Rican attorney/notary to execute the transaction. As with real estate agents, it is typical for an attorney to represent both the buyer and seller.
The process of getting permission to build a home can be complicated depending upon where your property is located. Beachfront development has a different set of rules compared to private land.
In some cases, a property buyer for property in Costa Rica may want to make a down payment or buy an “option” on a piece of real estate. The final deal may depend on some outstanding details to be worked out or obligations to be met, but both the buyer and the seller will formalize […]
Santa Teresa, Mal Pais and Manzanillo are blessed with over 25 km of majestic, light golden-sand, beachfront land. The beauty and remoteness of these beaches is one oft he popular draws tot he area.
Private / Untitled / Possession Property The great majority of land in Santa Teresa, Mal Pais and Manzanillo is titled. Throughout Costa Rica, however, there is a lot of untitled land, that may qualify for title.
Buying real estate in Costa Rica is normally easier than buying in other developing countries. Foreigners can own titled property in Santa Teresa, Mal Pais and Manzanillo in their own name and share the same rights as a Costa Rican citizen.
This situation posed by squatters is more theoretical than practical. We are often asked about squatters, probably because of a visceral response stimulated by such a danger – someone is taking over my land and I might lose 100% of my investment.
Within the multifaceted marvel that is Costa Rica, lies the halcyon surfing hamlet of Santa Teresa. Bestowed with the virtue of remoteness, the area has developed at a slower, more measured pace, spared the inundation of high rises.
In Costa Rica, there is little governmental regulation of the real estate industry. However, a knowledgeable real estate expert will be invaluable in helping you with many aspects of your purchase or sale.