Local Economy And Real Estate In Costa Rica

By: Randy Berg

With the talk of the economy, these days you would think that some of the smaller countries of the world would be much worse than others. However, the local economy in Costa Rica, especially where the real estate is concerned, is thriving. People who are still looking for the retirement property or vacation home will do very well to look into Costa Rican property.
The local economy is based on tourism, but is also helped by the fact that there isn't much need for heating, electricity, and other utilities that a country like the United States would need. In fact, many of the people there live without any form of heating and cooling in their homes. Their homes are constructed to keep their homes cool during the day and warm during the night. This lessens their need for these types of expenditures.
In fact, many of the expenses in Costa Rica are lower than what you might expect. For instance, cellular phone service throughout the country is very good no matter where you go, but it will only cost about $10 a month. Likewise, satellite television can also be had at around the same cost.
Property taxes are also incredibly low in Costa Rica. Many homes on the coast, for example, a home valued at $330,000, have tremendously low property taxes than comparable homes elsewhere. The above mentioned home would have taxes of about $300 annually. At the same time, the same home further inland would cost 50% less.
Several housing developments offer some of the greatest homes in Costa Rica for great deals. Places like La Joya de Esperanza and San Ramon offers incredible views, great conveniences and tremendous deals on homes and properties. Costa Rican real estate and the local economy are both very good for outside buyers looking for a second home or investment.

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