The CostaRica real estate has been booming since the steady growth of the Costa Rica tourism industry. This is particularly true since the government has
To achievethis, the Costa Rican government has been making buying property in CostaRica easier and easier for foreigners. In fact, at least 80% of CostaRica’s beachfront properties are currently owned by foreigners.
Foreignersare not only investing in Costa Rica, but actually starting to move into thecountry, both as retirees and as businesspeople. About 50,000 North Americanexpats are now living in Costa Rica permanently.
People from around the world are coming into Costa Rica attracted by their investment opportunities and their
The CostaRica real estate has two main growing sectors, hotels
Every single year millions of tourists come into the country. In 2016 alone, a million American tourists and almost half a million European ones came into the country. In 2015, the tourism sector was responsible for 5.8% of the country’s GDP, or $3.4 billion.
Also, investing in the Costa Rica real estate offers the opportunity
Accordingto Costa Rican law, both foreigners and Costa Ricans have the same rights when buyingproperty in Costa Rica. The reason for this is that the Costa Ricangovernment is trying to attract foreign investors in order to stimulate theeconomy and create more jobs.
Buying property in Costa
There aretwo types of properties according to Costa Rica real estate law: titledproperty and concession property. Titled property makes up for at least 85% ofall the property in Costa Rica. The remaining 15% is concession property.
Concession property is all property within the public area of the Maritime Zone. Because all beaches in Costa Rica are public, meaning that anyone can use it for enjoyment if they to do so, these properties are not for sale.
A concession is actually a lease on the property granted to the leasee by the government for a specific period of time. The lease period usually is 20 years. Multiple lease terms can be acquired.
This iswhere foreigners and Costa Ricans have different rights when it comes to buyingproperty in Costa Rica. Foreigners cannot be majority owners of concessionproperty. Foreigners can only be majority owners of concession property afterhaving been a legal resident of Costa Rica for a period of 5 years.
The Nautica investment property for sale is located in Playa Brasilito. This small fishing town lays right in the middle of the “Gold Coast”, sitting between Playa Conchal, Costa Rica and Flamingo, Costa Rica.
The Nautica Costa Rica real estate property is intended for both residential andcommercial development. This investment property for sale is dividedinto two development sites, the Condo Project Nautica Site and the Condo /Hotel Site plus the Restaurant / Rental Area and the Owner’s Area.
Playa Brasilito is a
The Condo Project Nautica Site offers the opportunity to build 6 9-story mid-rise towers with the most beautiful ocean views. Up to 51 2-bedroom and 51 3-bedroom condos plus 6 penthouses can be built at the site.
Currentpermits to the Costa Rica real estate property provide the possibilityto convert the condos into hotel units of up to 9 units per floor. They alsoprovide the possibility to build a 600,000-gallon pool, a gym, and a conferencearea.
Building a hotel of such a magnitude in Playa Brasilito could permanently change the landscape of the town. It also has the potential to positively affect the local economy and help improve the locals’ standards of living.
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