In Costa Rica, foreigners have the same rights when buying real estate as locals do. The main difference between local and foreign buyers is the degree of awareness about Costa Rican laws, regulations, restrictions and real estate market in general. Costa Ricans, or Ticos as they refer to themselves, know the value of a decent lawyer and the advantages of dealing through a realtor. Foreigners tend to try grounds. Is it wise in a foreign country? Read this article if you want to define if it is advisable to deal with a real estate agency, or a lawyer when buying property in Costa Rica.

Can I as a foreigner buy property in Costa Rica? What is the procedure? Do I need a lawyer? Do I need a real estate agent? Is investing in Costa Rican real estate wise? Can I get a mortgage? The following summary dwells on a number of general questions related to property acquisition in Costa Rica. While this is a summarized overview, we also offer more detailed reviews of main subjects concerning the acquisition of real estate in Costa Rica in dedicated articles.

Several years ago, Costa Rican banks, both state and private, offered foreign buyers mortgage loans on lucrative conditions. However, the world economic crisis and especially the U.S. home bubbles significantly altered the situation. One thing you should know when considering Costa Rica is that its economy largely depends on the Big Brother’s financial health. Currently, only several banks offer mortgage options to non-resident foreigners. There are no mortgage brokers, and a real estate agency has to be top-notch to be able to help you with comfortable conditions on your mortgage. Seller financing becomes increasingly popular with both buyers and sellers.

Costa Rica is highly protective of its natural resources and public areas. There is a set of rules and regulations that apply to beachfront property acquisition. Depending on the type of property itself, the type of ownership and the details of the contract, the list of documents may be different. There are, however, prerequisites for ownership transfer of any type. Read our detailed overview of contract types, basic document requirements and property ownership types common in Costa Rica.

Can't see the Wood for the Trees? On the special HouseCosta Rica page on Facebook and Twitter you will find a selection of the properties in Costa Rica published on my website Affidata.co.uk. Also images of Costa Rica and interesting news.