WHY COSTA RICA?
There is a growing population that is looking to buy property in increasingly popular locations such as Costa Rica, and in particular, areas of growth such as Pavones Real Estate. Affordability, unparalleled natural beauty, and the laid back Pura Vida lifestyle are but a few of the many attractions that bring savvy investors to this market.
Along with the legalities of buying and owning property in Costa Rica, covered in depth when a Pavones Life Realty agent provides the investor with comprehensive Due Diligence, here are some interesting facts about Costa Rica when considering this or any foreign market.
1. Owning Property
Costa Rica has been a stable, democratic republic since the Constitution was instituted in 1949. What’s more, buying real estate can be an easy process in Costa Rica. The government encourages foreign investment and keeps red tape to a minimum.
REMEMBER: One time sale of a property per year is not subject to Capital Gains.(Always consult your Attorney on current Costa Rica Tax Laws).
2. Residency Programs
Unlike other countries within the developed world, Costa Rica provides several attractive, affordable residency programs for foreigners wanting to make this country a more permanent home for themselves and their families. Some of these programs are based on real estate investments and Pavones Life Realty is able to provide Additional Services that can help facilitate the residency process for those clients who want to pursue this.
3. Education Rather Than Army
With the formal abolition of the Costa Rican army in 1948, the military funds were reallocated to the educational system. Mandatory 1st through 6th-grade attendance has led to Costa Rica having the highest literacy rate in Central America and is above the average for many developed countries around the world.
4. Peace and Harmony
Living without an army has led to the Costa Ricans embracing a culture of peace and harmony. With a long history of stability, this country and its citizens are unfamiliar with any form of civil unrest, governmental dictatorships, or major conflicts. With this stability comes a true and valid sense of safety and security in investing, owning, and living in this country. The Pura Vida lifestyle, a direct result of living without the threat of confrontation or violence, permeates every aspect of a life well lived in this peaceful society.
5. Standard of Living and Living Long
As an educated population, Costa Rica boasts a relatively high standard of living, low crime rates, and a life expectancy that is one of the longest in the Americas. The Nicoya region of Costa Rica is designated as a “Blue Zone”, or a longevity hotspot, populated by some of the longest living people in the world.
6. Healthcare Private and Public
Healthcare in Costa Rica is considered the best in Latin America. The government-run, universal health care system which guarantees health care to all citizens and residents has a strong focus on wellness and educational programs. The system is low cost and is constantly being upgraded.
The private healthcare system consists of state-of-the-art internationally accredited hospitals and facilities with a full complement of board certified specialists. All of this is available at a fraction of the cost relative to the United States.
7. Reducing Carbon Footprint
As a country, Costa Rica prides itself on preserving natural resources and being a leader in diminishing its carbon footprint. In 2016 a full 98% of electricity generation came from renewable sources. With hydropower, geothermal, wind, and solar capabilities, Costa Rica is an example to the world of how this small country can have a huge impact on the environment.
The aspirations don’t end with renewable electricity as the country has ambitious goals to become completely carbon neutral in the next several decades.
8. Preserving Nature
With home to four UNESCO World Heritage Sites and over 800 miles of coastline, Costa Rica is a leader in actively preserving the natural beauty and heritage of its rainforests and animal wildlife corridors. This small country occupies just 0.03% of the world’s surface yet is home to nearly 3% of the world’s biodiversity.
Almost one-quarter of this country is protected terrain and designated as national parks, reserves, animal refuges, wetlands, and mangroves. Known worldwide as “the most biologically intense place on earth” according to National Geographic, Corcovado National Park is one of the Southern Zones most popular destinations for adventurous nature lovers.
9. First in Happiness
And finally, the Pura Vida lifestyle of the population has paid off by having the number one ranking on the Happy Planet Index. Rather than rating the perceived happiness of a population based purely on economic measurements, the Happy Planet Index looks at well-being and the happiness of people based on the environmental resources they use.
Taking into account criteria such as life expectancy, well-being, social inequality, and ecological footprint, Costa Rica has been found to have the most sustainably happy population on Earth. In other words…these people are happy with what they have and how they use it, happier than any other country in the world!