Properties in Costa Rica Blog

by Rod Martin

Dominical is the gateway to the Costa Ballena – a 30 mile stretch of beaches, river valleys, and lush jungle covered mountains. This sleepy beach town sits 30 minutes south of Quepos/Manuel Antonio and 45 minutes west of San Isidro del General. For years it has been a surfing destination, but even if you don’t surf the 2.5-mile beach is perfect for long walks or just relaxing. After a long day of fun and sun, enjoy a cold drink and live music at Tortilla Flats, a popular bar/restaurant on the beach.

This small town has always been a popular destination for travelers on a budget, but Dominical is evolving with stronger tourism and investment. The local municipality has improved the initial access off the Costanera Sur (The Coastal Highway) with asphalt and has begun construction of a concrete promenade along a 1km beachfront section. In addition, the opening of Patron’s, an elegant steak house and bar with live music, looks to attract a wider range of people.

South and Beyond

Drive five minutes south of Dominical, and you will find its younger brother Dominicalito. The waves are smaller at this crescent-shaped beach and there are a few stand-out restaurants close by. The land and luxury homes on the hillside sport some of the best ocean views on the entire Costa Ballena, and there’s even a gorgeous waterfall called Pozo Azul that is two-wheel drive accessible. For these and other reasons, it is also the strongest vacation rental market. If you like to explore, continue driving south. The small towns of Uvita and Ojochal offer fantastic day tour and restaurant options, respectively.

If you are tired of snow and cold, Dominical is the place for you. Even in the rainy season, which runs from May through November, the climate is warm like the Costa Rican people. In July, the area typically gets a second summer—less rain, more sun.

This is the country of “pura vida” or “pure life”, and it is ever-present in Dominical. Like the wildlife, the area has quickly become a melting pot of residents… each adding their own unique colours and flavours to the community.

Yes, one of the many benefits of Costa Rica’s natural resources is the possibility to cultivate and grow organic products in our land.

Small producers are getting more attracted towards growing and producing organic foods. Options are growing all over Costa Rica and the more interest the population shows the more possibilities we have.

As I said, the places where to get organic food grows as the demands get bigger. The central valley has several options of daily markets, street fairs and restaurants, other areas of the country still have limited options but there are a few.

This is a compilation of markets and restaurants that sell and serve organic products including fruits, vegetables, meats, cheese, milk, coffee, cleaning products, etc.

1.   Green Center Supermarket – Río de Oro de Santa Ana and Curridabat. Offers fruits and vegetables, cleaning products, personal care products, meats and much more. It has express service where you can order the products and have them delivered to your home.

2.    El Trueque Fair San José – Barrio el Carmen, Paso Ancho. Takes place every Saturday from 6 am to 12 pm and it offers fruits and vegetables, cheese, milk, etc.

3.    Aranjuez Green Market – Barrio Aranjuez. Saturday from 6 am to 12 pm

4.    Buena Tierra Organic Fair Escazú – In front of the Red Cross of Escazu. Wednesday from 8 am to 11 am

5.    Organic Fair Km 0 – Avenida Escazú. Saturday from 9 am to 2 pm

6.    Organic and artisans Maket – Ciudad Colon (Mercado Viejo). Thursday from 2 to 6 pm.

7.    Viandas Market – San Jose downtown. Online shopping available.

8.    Mar Verde Biodynamic Farm – Punta Leona, Jaco. Offers fruits, vegetables, honey, herbs, etc.

9.    Ecological Market El Guayabo – Nicoya, Guanacaste. Monday thru Friday from 6:30 am to 5:30 pm and Sunday from 6:30 am to 1:30 pm

10.  Guápiles Organic Fair – Guapiles, Limon. Saturday from 5 am to 12 pm.

11.  Heredia Green Fair – Santo Domingo, Heredia. Sunday from 8 am to 2 pm.

12.  Turrialba Organic Fair – Turrialba. Saturday from 6 am to 2 pm.

I personally like going to the market and enjoy all those colors and smells, it is not a simple shopping shore. Some of these fairs have become social events where people with similar interests and life styles get together.

Dining options are also available with vegan, organic and raw food. Take a look at the following list:

1.    Buena Tierra. Escazu.

Cuisine: Vegan-friendly, Lacto, Organic, Western, Caribbean, Beer/Wine, Take-out

2.    Mandala. Plaza Vita, Escazu.

Cuisine: Ovo, Lacto, Organic, Western, Pizza, Juice bar, Beer/Wine, Take-out

3.    La Oliva Verde. Momentum Lindora, Santa Ana.

Cuisine: Vegan-friendly, Lacto, Juice bar, Mediterranean, Non-veg

4.    Oasis Restaurant and Bar. Trejos Montealegre, Escazu

Cuisine: Vegan-friendly, Ovo, Western, Beer/Wine, Take-out, Delivery, Non-veg

5.    El Brotario. Barrio Escalante, San Jose.

Cuisine: Vegan, Organic, Western, Fusion, Raw, Juice bar, Take-out

6.    Mantras Veggie Cage and Tea House. Barrio Escalante, San Jose.

Cuisine: Vegan-friendly, Lacto, Caribbean, Costa Rican, Raw, Take-out, Delivery

7.    Pu Ti. Guadalupe, San Jose

Cuisine: Vegan-friendly, Chinese, Take-out, Taiwanese

8.    The Flying Tomato. La Fortuna, San Carlos

Cuisine: Vegan-friendly, Ovo, Lacto, Organic, American, Western, Juice bar

9.    Elemental Samara. Samara Beach.

Cuisine: Vegan, Juice bar, Raw, International, Take-out, Delivery

10.  Pajara Pinta. Jaco.

Cuisine: Vegan-friendly, Ovo, Costa Rican, Fusion, Organic, Beer/Wine

Consuming organic products is not only something we should do for ourselves, of course the benefits to our health will be enormous but we are also helping the small local producers directly. We are not buying products from big companies so it is assured that we will be helping social development of small communities. In the bigger picture, we are also helping the whole environment, as organic agriculture is a way of reducing global warming.

Year after year Costa Rica remains a popular tourist destination, is home to countless activities to keep every traveler entertained, and offers a little something for everyone. It is no surprise that the country’s tourism industry is a $2.2 billion one, and with over 2 million foreigners visiting each year.

So what is it about Costa Rica that makes it so magical? Surely each visitor can be their own judge here, but I would say that the country’s variety would be a determining factor. Variety, ranging from the type of vacation travelers are looking for (i.e. fun, educational, relaxing, romantic), to the amount of money needed to enjoy a high quality vacation, to the kind of experiences visitors get out of a trip, not only adds to Costa Rica’s desirability factor but also makes vacation planning a challenging feat for most travelers. For those who know little about the country, simply narrowing down the specific areas worth a visit can be a daunting task. Fortunately, Costa Rica’s various towns and regions are as diverse as the travel population itself, so knowing the type of traveler you are and what you are looking for in a vacation will direct you where to go and look for help in determining the best places to visit.

Adventure and Nature

Adventure enthusiasts in search of those once-in-a-lifetime experiences that are difficult to obtain at home. For this reason, they need a location that not only offers a lot to see and do, but also offers unique activities that cannot be experienced elsewhere (without sacrificing experience quality). The following areas of Costa Rica are recommended to those travelers who want access to a variety of activities from within the same location. Ideal for those with limited time in Costa Rica and/or with an interest in participating in combo tours that combine two or more activities in one full day tour experience. For nature lovers, areas that offer plenty of outdoor activities for optimum eco-immersion and rainforest/cloud forest education are most desirable, as are areas that offer a variety of accommodation types (beyond high-rise and resort hotels) including bungalows, chalets, cabins, and eco-lodges that allow visitors to experience nature in an up close and personal way.

Couples and Honeymooners

They seek romance and prefer destinations that can offer an experience beyond a typical beach vacation. To them this “extra something” may be a high-class resort-quality hotel, whereas to others it may be an area of the country where romantic activities (such as spending an evening at the volcano hot springs or taking in a sunset sailing cruise) are easily accessible. In either case, quality is key, as are destinations that make the happy couple feel confident about choosing Costa Rica for their romantic getaway. Another important factor? Dining opportunities. Couples/honeymooners are more likely to visit restaurants within the areas in which they stay, so for those travelers who do not plan to stay at one of Costa Rica’s few all-inclusive resorts, choosing towns that offer a wide variety of dining options (and that do not require a long commute to/from such dining options) is a smart decision.

Families with Children

Families that travel with young children do so with a list. Some of the most important questions topping the list include destination safety, transportation accessibility, and transportation duration between routes, child-friendly dining options, and child-friendly activity options. While not always the case, the most popular tourist destinations in any country tend to be those that are best equipped to accommodate the needs of families travelling with young children, primarily because they tend to be developed enough to offer it all. Since safe areas appeal to parents and fun/unique areas appeal to kids, ideal vacation destinations for this travel group demographic offer both.

For those families with older children have more flexibility about longer commutes, more dining options and adventurous activities.

Surfers

Costa Rica is a well-known surf destination. It regularly hosts surf championships, offers plenty of coast and breaks to explore, and has a surf culture all of its own, containing Costa Ricans and international surfers that call Costa Rica home. As to be expected, the surf culture is backed by a surf industry, complete with an abundance of surf shops, schools, and camps. Lessons for beginner, intermediate, and advanced surfers are available, as are surf tours to remote beach areas offering the best surf breaks. For those looking for an authentic surf experience that is truly off the hook, trained by only the best local surf experts and world-renowned surf champions, Costa Rica’s got it.

• Tamarindo
• Manuel Antonio
• Dominical
• Jaco
• Santa Teresa and Malpais

Vacation Rental Home Fanatics

Looking for a home away from home? Vacation home rentals are scattered throughout the country, however particular regions offer more concentrated rental areas than others. Ideal for those who wish to take day trips to/from one central location throughout the duration of their trip.

It doesn’t matter what kind of tourist you are, bottom line Costa Rica has something for everyone. Enjoy Costa Rica!!

by Rod Martin

Bandera Azul Ecológica… sounds exotic, doesn’t it? Well, it is exotic in a pristine tropical beach kind of way. Bandera Azul translates to English as “Blue Flag” — a designation awarded annually by the ICT (or the Tourism Board in Costa Rica). Eighty-nine beaches received at least one Bandera Azul, while some received an additional two, three, and even five stars for exemplary status.

Inspired by a similar program developed in Spain in 1985, the “Bandera Azul Ecológica” is intended to curb the negative impacts of increasing tourism and population by helping the local community to protect the beach environment and limit pollution. Costa Rica’s version was started in 1996, and 10 beaches received a blue flag designation that year. In 2004, an executive decree was made that clarified and organized the various government institutions to better manage the program. That foresight to protect one of its most precious attractions (clean beaches and water) is part of the reason why Costa Rica is booming now. Over 2.5 million visitors came to Costa Rica in 2014 (not to mention an influx of new coastal residents), and eco-tourism is one of its fastest growing sub-sectors.

For those who like the specifics behind a catchy headline, the beaches are evaluated on seven different criteria:

• Quality of Seawater (35%)
• Quality of Water for Human Consumption (15%)
• Quality of Sanitation, which includes garbage (10%)
• Domestic Sewage (15%)
• Industrial Sewage (5%)
• Environmental Education (10%)
• Safety and Administration (10%)

If the beach earns at least a 90% rating, they are awarded a Bandera Azul. In addition, multiple stars are now awarded if the beach community makes an extra effort in areas such as safety in the form of lifeguards and signs announcing “heavy surf/rip currents”, toilets and showers, bins for trash and recyclable items, and environmental education, among others.

Three beaches received a 5-star rating—Matapalo and Punta El Madero in Northern Guanacaste, and Playa Blanca on the Central Coast. There were three beaches within the southern Pacific zone of Costa Ballena that received blue flag ratings—Playa Dominical, Playa Arco, and Playa Hermosa – a beach that now has designated trash bins and lifeguards thanks to community initiative.  Those lifeguards have saved 30 people from drowning in recent weeks, so safety is an ancillary benefit to a community. House hunters even base their searches using this Blue Flag criteria. If you are one of those seeking pristine and protected beaches, check out both our Dominical and Tamarindo listings.

Last year, the Costa Rican Times reported “[…] more than 90% of the beaches in the Costa Rica have minimal pollution levels, with little to no risk to human health.” This is good for beach-goers and for everyone who will benefit from tourism in the years to come. So, if you are planning a trip to Costa Rica in the near future, don’t forget your beach towel and your sunblock. The water is warm and the tropical beach experience is definitely part of the pura vida.

As a real estate company trying to provide a quality service in the main areas of Costa Rica, we are very interest in the development of the market in Dominical.

Dominical used to be a fishermen town, according to 2011 government´s census the Bahia Ballena´s population was 3306 people and 500 of them were permanent residents of Dominical. Known mostly for its big waves, the beach is a surfer´s paradise but with time it´s becoming more appealing to potential buyers who want to own a vacation home or become permanent residents.

An article recently published in the New York Times and written by Kevin Brass points that Dominical´s real estate market is experiencing a rise. Joshua Kanter, one of our real estate agents in the Dominical area was consulted for this article. He was asked about the impact that the new paved road finished in 2010 had on the market “Bad timing” said Josh “… you could make an offer for 30 percent off and get it”.

The 2009 recession came affecting all areas of real estate and Dominical was no exception. Properties were selling for 30%, 40% and even 50% off their original price. Home owners were selling their properties abroad to avoid losing their homes back in their country. Most of the buyers in Dominical are American and they had to leave Costa Rica.

We have experienced an increase in the sales since 2012, and is has gotten better every year since, allowing us to think that this area is developing rapidly and attracting more buyers every year.

The area´s natural resources and tourist attractions, not to mention the proximity to the Whale´s Tale, one of the most famous attractions of Costa Rica, make this small town a buyer´s paradise.

by Andrés Murillo

It’s no secret that Costa Rica is quickly becoming one of the top destinations where expats from United States, Canada and Europe want to buy property, either as a vacation home or as a full-time residence. But although Costa Rica is a relatively small country, its coasts, cities and beach towns are as diverse as can be, leaving many prospective property owners wondering, “Where should I buy?“.

Truthfully, it’s hard to go wrong when buying property in Costa Rica, but through the years people has discovered what we consider the prettiest, most idyllic beach town, located on the Pacific coast of Costa Rica, near the international airport and close to a seemingly endless list of incredible eco-tourism opportunities. Tamarindo, Costa Rica, is being recognized as the best beach town in Costa Rica to buy your vacation rental home.

Let’s clarify that vacation rental home, what we mean is that you can buy a property in Tamarindo, Costa Rica primarily for your own vacation use, but also rent that property to other vacationers when you’re spending time in your home country… You can actually enjoy your property for vacations PLUS it is paying itself and even better: it is generating real income after expenses!

Here are just a few of the main reasons why owning a vacation home in Costa Rica will not only provide you and your family with unparalleled entertainment, but is also an extremely sound investment in terms of resale:

– It’s close to Liberia International Airport. At just 45 minutes from the international airport in the city of Liberia, Tamarindo is easily accessible. Finding a shuttle, a rental car or a taxi to take you from the newly renovated airport to your doorstep is not only a breeze, it’s very affordable.

– The tourism is unmatched. World-famous waves, beautiful estuaries, dormant volcanoes, miles of clean beach, great shopping, excellent food and outdoor activities are right at your doorstep. Tamarindo is one of the fastest-growing towns in Costa Rica, touristically speaking, meaning you’ll never be in short supply of incredible experiences to take advantage of.

– A return on investment that’s virtually guaranteed. Anyone from this town will assure you that land values in Tamarindo have increased steadily over the years. It’s almost unheard-of that a property might sell for less than its purchase price. Tamarindo is a highly desirable place to live and vacation, and for you that means resale prospects.

– Strong vacations rental market. Tamarindo has one of, and maybe the, strongest vacations rental market in all the Pacific Coast… That said, you could expect an excellent return on your investment while you can also enjoy the property with your family and friends. Depending in the property and its location, properties can be returning between a 4% to a 10% after ALL expenses (property taxes, HOA fees, utility bills and maintenance expenses).

Key to all is: 1. Having a proper marketing program for your property and 2. Hire the right property management company – Ask for advise and we will provide it.

– There are incredible deals to be found on vacation properties. Despite a spike in popularity over the last dozen or so years, land values in Tamarindo are fairly low, making it a very viable option for homebuyers looking to purchase a second, or vacation, home in Tamarindo.

– The variety is endless. Tamarindo housing types are as varied as any town or city. Tamarindo is home to multi-million dollar estates with panoramic ocean views, luxury ocean view condos, and quiet homes located off the beaten path. You’ll likely find that whichever type of vacation home suits your tastes, the prices will compete with anything you might find back home.

– Great people and excellent infrastructure. Costa Rica is anything but a third-world country. Instead, it is very well developed, with excellent roads, great cellphone reception, and reliable electricity and water service – especially in Tamarindo.
Further, the people who live in Tamarindo, both the locals and the expats who have already made their full-time or part-time homes here, are extremely friendly and welcoming to newcomers. In Tamarindo you can find a real multicultural mix with residents from ALL over the world living in this small beach town.

Once you see the supreme natural beauty that Tamarindo has to offer, we’re certain you’ll be as convinced as we are that it’s by far the best place to buy a vacation property in Costa Rica.

Contact Properties in Costa Rica today so we can begin finding you your dream vacation home in Tamarindo, or wherever you’re dreaming of.

Medical tourism or health tourism, currently has a dual function for a large percentage of the population in developed countries, as the possibility of surgery and medical treatment at a lower costs that otherwise they could not afford. On the other hand is a source of income for countries that offer the services. As PROMED (An organization founded in 2009 to promote and regulate medical tourism in Costa Rica) indicates it is a possibility for 49 million Americans that do not have health insurance and 108 million who do not have dental insurance, a situation that is similar in other European countries.

This represents an interesting opportunity for countries like Costa Rica where the cost of medical treatments represent a third of the United States. Also the quality of Costa Rican medical professionals and excellent hospital infrastructure also plays an important role. It is estimated that the country receives about 100,000 tourists each year who go through some type of medical procedure.

Medical tourism or health tourism is a new way to attract visitors, where medical services (surgeries, medical checkups, rehabilitation) represent the main attraction but also mean another set of related services like lodging, transportation, recovery and nutrition. In other words it’s not just health care and lodging, but also the enjoyment of the country and its numerous attractions.

Another key factors are the well trained doctors and the prestigious government and private universities training all these future doctors. In fact, the need to provide a quality health service and guidance is what led to the creation of PROMED, which aims to find the positioning of Costa Rica as one the countries providing world class medical services that go hand to hand with the tradition of Costa Rica as a warm welcoming country with lots to offer. All this will be possible by joining efforts between the Costa Rican government and the private sector.

There is a special interest from the governement and private institutions in promoting medical tourism in Costa Rica, and the advantages of the country are evident.

Source: PROMED

Costa Rica is in the top 5 of best countries to retire to, according to International Living Magazine. They did a deep study compiling information from correspondents from all over the world.

The quality of life in Costa Rica , founded on security, political and economic stability, access to primary health care and the natural beauty, mild climate and the warmth of the population, make Costa Rica a very desirable destination for retirees. Army-free since 1949 makes us stable and peaceful.

According to the US State Department there are approximately 50,000 US citizens living in Costa Rica at the moment. After decades of working hard and saving for their “golden years” many North Americans and Europeans choose our country as their home.

Most of them come looking to live near the coast, but because of our variety in natural beauty many expats also look to live in-land. Places like Atenas and San Ramon are very popular between those who want country living surrounded by green sceneries.

Most retirees choose our pristine beaches as their home, beach towns offer all necessary facilities along with the benefit of colorful sunsets and warm waters year round.

Costa Rica offers everything from Caribbean and Pacific beaches (Jaco, Los Sueños, Manuel Antonio, Dominical, Tamarindo, Nicoya Peninsula, Uvita etc.) to lush rain forests to towering volcanoes. More than 10% of the country is protected national parkland, and it is one of the most biologically diverse countries in the world.

No wonder we are called the “Land of Pura Vida”.

by Rod Martin

A few weeks ago, Costa Rica’s high court ruled that portions of the law introducing the tax on corporations were unconstitutional.  We continue to receive many questions from clients asking, “Do I have to pay the corporate tax for 2015?”  It’s a question that deserves a clear answer.

Investors and residents often buy property, automobiles, boats, and even businesses and put them in a Costa Rica corporation.  For those new to Costa Rica real estate, you cannot use your corporation (e.g., an LLC) from your home country.  It has to be a Costa Rican corporation.  For larger groups or multiple investors, the Sociedad Anonima (S.A.) may be a good choice as it requires two active officers, with at least one share each.  A Sociedad de Responsibilidad Limitada (S.R.L.) is an even easier option, as it only requires one shareholder although dividing shares among two officers is common.  Costa Rica also allows you to own property, as a foreigner, in your personal name.  Many people ask why bother owning anything in a corporation, and a few of the benefits are:

• Limited liability; as the S.R.L. suggests, the shareholder are only liable for their share of debt or assets within the corporation.
• Estate Planning; passing shares on to family members.
• Income; taxes are paid as corporate income instead of personal income.

Ley 9024 (the Corporate Tax Initiative) was passed in 2011.  Many investors (especially developers) with multiple corporations were forced to make changes to their portfolios.

Each corporation can either be active, which means a business entity that is registered with the Hacienda de Tributacion (National Tax Department) or or inactive, which is simply a dormant corporation with no business or income tax component.  For active corporations, shareholders are required to pay an annual tax of 200,000 colones (approx. $380) and approximately 100,000 colones ($180) for inactive corporations.

The High Court Repeals the Corporate Tax

A few weeks ago, lawyers persuaded the High Court to rule that the tax was unjust for two main reasons.  In Costa Rica, when major changes are made to a bill passed by law makers, the changes have to be advertised in the official newspaper of Costa Rica, La Gaceta.  The second reason it was repealed was that large and small corporations pay the same amount.

Since over 30% of corporation shareholders already paid the 2015 tax, the high court decided their ruling will not go into effect until 2016.  Many lawyers believe this will give the legislature time to re-announce the corporate tax bill properly in La Gaceta before the fiscal year of 2016.

The bottom line is… Yes, you have to pay your corporate tax for 2015.  The longer you wait, the more interest you will have to pay.    If you have any questions about this topic and its tax implications, please contact your lawyer in Costa Rica.

The first thing that we want to do after we decide to finally take some time off our routine and go on vacation is: the right place to stay.

So, now that you have chosen Costa Rica as your destination, where do you want to stay?

This is probably the most important decision you will have to make before going away on your so well deserved vacation. You have to make sure you make the right one because if you choose badly it can turn your dream into a nightmare.

In the last few years a new way of hospitality has developed in Costa Rica, home vacation rentals. Instead of going with the traditional option and staying in a hotel, vacationists from all over the world choose everyday to come to enjoy our beautiful country and stay in a home.

The options? enough for every budget and taste. With an inventory of approximately 4,000 vacation homes, we can offer our visitors condos, beach luxury homes, and mountain retreats.

The most popular properties are those close to the beach, of course, who doesn´t want to enjoy perfect warm weather by the pool of a luxurious home with all the amenities at the tips of its fingers?

So, choose carefully, make sure you look at many options and pick the one that you are confident with. There are many companies and people working in this business that know what they are doing. Use their knowledge and expertise to help you make the right choice. Once you have taken this step let yourself enjoy, we are waiting for you!