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9 Reasons Why You Should Consider Investing in Costa Rica Real Estate

Whether you are looking forward to buy a vacation home or want to make some real estate investment that will give you good returns, Costa Rica real estate market seems to be the right option for you. Here we are discussing a few factors that have made Costa Rica real estate a profitable deal.

1. Costa Rica's economy was based on agriculture and coffee and banana exports dominated the economy until 1998. Since then electronics, technology, and tourism have been the chief source of foreign currency for Costa Rica. With GDP (purchasing power parity) of $50.89 billion (2006 est.) and GDP real growth rate of 7.9% (2006 est.) Costa Rica is going through a booming economic phase. Costa Rica's economy is based on tourism, agriculture and electronics exports. Coffee and banana exports dominated the economy in Costa Rica until 1998 when technology exports replaced both agricultural and tourism as the top industry. [Source: https://www.cia.gov/library/publications/the-world-factbook/geos/cs.html#Econ]

2. With the Costa Rica Government willing to implement the US-Central American Free Trade Agreement (CAFTA) Costa Rica is all set to get an improved investment climate. [Source: https://www.cia.gov/library/publications/the-world-factbook/geos/cs.html#Econ]

3. According to statistics provided by the National Chamber of Tourism [http://www.tourism.co.cr/], tourist arrival to Costa Rica increased by 6.4% during the first six months of 2007, compared to 2006. [Source: http://www.visitcostarica.com/ict/paginas/novedades.asp]

4. Costa Rican citizens and foreigners have equal rights for ownership of land and property in Costa Rica with some exceptions in case of the oceanfront properties. Foreigners need not live in Costa Rica to hold property in this country. The closing costs of buying property in Costa Rica run about 5% to 6% of the sale price of the property that includes transfer land tax, a stamp tax, and legal fees. [Source: http://www.costarica.com/Retirement/Buying-Real-Estate/Real-Estate-Regulations/]

5. Cost of living in Costa Rica is significantly lower than in United States. According to the 2005 Cost-of-Living Survey Mercer Human Resource Consulting [http://www.mercerhr.com], Washington DC is ranked as the 78th most expensive city of the world, San Jos

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