Is it safe to buy real estate in Costa Rica?
Absolutely! It can be almost like buying property in your home country if you use common sense. However, If you read the alarmist websites that preach that you can “lose your shirt ”or those that claim the have the “real scoop” on Costa Rica you will be too scared to purchase anything. Actually some of these alarmist sites have tones of racism because they imply that you have to be careful when dealing with Costa Ricans.
All you have to do is follow the advice below and you should be able to purchase property and minimize the chances of something bad happening.
- Have a good time-tested reliable attorney
- Make your attorney is 100% bilingual so that you can understand every step of the process of purchasing property.
- Have your attorney do the proper “due diligence.” Attorneys who handle real estate transactions can do this to ensure you are making a safe purchase.
- Don’t be an impulsive buyer. Also take your time and DO your homework.
- DO NOT trust people just because they are from the States, Canada, England or any other English-speaking country. Over the years I have come across many English-speaking scoundrels. So be careful!
- Read all of the guidebooks about purchasing real estate in Costa Rica. There are three at the present time. They will give you a basic understanding of the how the local real estate scene works. Be wary of any real estate guidebook that continuously hypes the services of its author. Finally, remember no book should take the place of a good broker and lawyer.
I always give the guests on my monthly relocation/retirement tours a lecture about the above to help them distinguish betweens myths and reality when purchasing property in Costa Rica.
When people move to Costa Rica to live or retire, they have to either rent or buy a home. Recently, I was interviewed by a reporter from the Tico Times newspaper about the country’s current real estate market. As most of you probably know the downturn in the global economy affected real estate markets around the world. Costa Rica is no exception.





