Thinking of Buying Property in Costa Rica?

It’s exciting. It’s dreamy. It’s also different from what most people expect. While Costa Rica offers full foreign ownership rights and stunning beachside living, there are some key truths most realtors or online guides won’t mention.

Here are 5 surprising things that can save you money, stress, and time.

1️⃣ You Can Buy Property Without Being a Resident - But That Doesn’t Mean You Should Go It Alone

Yes, foreigners can legally own property in Costa Rica with the same rights as locals. You don’t need residency or a Costa Rican partner.

BUT: That doesn’t mean the process is simple.

You’ll need:

• A real estate attorney (not just a notary)

• A detailed due diligence process

• Certified translation or bilingual support

• Someone to verify title, taxes, topography, and legal water access

  
  

2️⃣ The Asking Price Is Just the Beginning

Unlike the U.S. or Canada, there's no official MLS (Multiple Listing Service) in Costa Rica. That means:

• Sellers can list at any price they want

• Prices can vary dramatically for similar homes

• Negotiation is expected - but it’s nuanced

3️⃣ Beachfront Property Is Not Always Titled

If you’ve fallen in love with a beachfront lot or home, ask this FIRST:

If yes, you’re looking at concession land, not titled land - and there are restrictions:

• Foreigners can't own more than 49% directly

• Annual concession fees apply

• You’ll need a concession attorney

4️⃣ The Market Moves Fast - but Closings Move Slowly

A well-priced home in Playa del Coco or Pacifico can sell in days - but closing the deal can take 30–90 days, especially if

• There’s a corporation involved

• There's title clarification needed

• You’re wiring funds internationally

  
  

This is where a good bilingual agent and attorney make all the difference.

5️⃣ You’ll Pay Closing Costs - and Sometimes Transfer Tax

Typical buyer closing costs in Costa Rica:

• Legal fees: 1–1.25%

• Transfer tax + stamps: 2.5–3%

• Total = ~3.5–4.5% of purchase price

  
  

Always clarify:

• Who pays what

• If the property is in a corporation (this affects taxes)

  
  

✅ Final Advice

Costa Rica is one of the easiest places in Latin America for foreigners to own real estate - but the process is not plug-and-play. The key is having the right people, the right questions, and the right protection from the start.

📞 Ready to Buy Property in Costa Rica with Confidence?

I help foreign buyers find, evaluate, and close on properties across Playa del Coco, Ocotal, Pacifico, and beyond — safely and smartly.

Contact me directly for personalized listings, video walkthroughs, or a free consultation.

sabina@palmrealetsatecr.com| WhatsApp Me +506 8713 8080 | Based in Guanacaste, CR