A couple of decades ago, Costa Rica was near the top of the list for almost anyone interested in a “second home in the sun.” Then things started to change. Prices rose, the bureaucracy became stifling, and the country abandoned its famed pensionado program that provided financial incentives to foreigners on a fixed income.
Today the situation is improving for the foreign investor. Prices have leveled off throughout the country, though cars and some other items are still unreasonably expensive. The bureaucracy is far from streamlined, but it’s forging ahead with transportation improvements, as well as reformed property rules that will make title searches more efficient. You can now live in a growing number of inexpensive areas that were once too remote to consider before highway and airport improvements. And if you want to apply for residency, you can now make the application from your home country.
Costa Rica has a stable government, a well-educated populace, and some of the world’s most enjoyable activities: fishing, bird-watching, scuba diving, snorkeling, kayaking, surfing, and horseback-riding. And, of course, there are many opportunities to dine and dance under the stars on the beach.
Throughout Costa Rica, the cost of living is moderate. The leading expatriate organization, The Association of Residents of Costa Rica, estimates that a couple that owns a house and car and has no debts can live comfortably on $1,500 to $2,500 a month.
Despite the rise in real estate prices, it’s still possible to find a second home in Costa Rica for a fraction of what you’d pay in North America...you just have to look harder. The country’s Central Valley continues to attract Americans and Europeans who value gorgeous landscapes, a good climate, and an established expat community.