Costa Rica Beach Front Real Estate

Costa Rica Beach Front Real Estate

Costa Rica Beach Front Real Estate
Beachfront property has worldwide demand, whether it's Costa Rica beach front real estate or beach front property abroad. Savvy investors and buyers of Costa Rica real estate beach front property know that there is greater demand for beach front property, than for inland real estate. If you are considering purchasing a home or condo that is Costa Rica beach front property, you must know a few important things.

First, it is recommended for most foreigners to make sure they are purchasing property that has been titled as fee simple or free hold real estate. Only 10% of Cost Rica beach front real estate is titled in this manner. Oceanside Realty in Jaco Beach, Costa Rica has a supply of luxury homes and condos that are fully titled, Costa Rica beach front real estate. It is important to know, however, the majority of Costa Rica's beach front real estate is titled as concession property and dishonest sellers and real estate agents will sell foreigners this type of property without properly explaining or disclosing the facts. Foreigners never really own concession property, they just lease it, and only for 20 years or less before renewal. The Costa Rican law that regulates beach front property is called the maritime law and the property within this area is called the maritime zone or zona maritima.

Approximately 90% of the Costa Rica shoreline is concession property. This is the area within 200 meters of the median high tide line. The first 50 meters from the median high tide line is considered public property. Neither foreign buyers of Costa Rica real estate nor Costa Rica citizens can own the beachfront in the public zone. Concession property in Costa Rica can be purchased (or controlled) by foreigners with certain requirements. The first is that a foreigner must have a Costa Rican partner with a majority share of ownership in the property. This is often created through Costa Rican attorneys familiar with maritime law and a guaranty trust is drawn up between the Costa Rican and the foreigner with rights given exclusively to the foreigner. For more information on purchasing concession property, click here. Oceanside Realty recommends that most foreigners purchase beach front real estate that has been excluded or grandfathered in from the maritime laws and that is fee simple real estate. Fee simple is the term used in the United States and free hold is the term used in Canada for property that is owned and controlled by an individual or corporation. Foreigners are allowed to own, unconditionally (with the exception of national and local laws, ordinaces and easements) fee simple property. Jaco Beach and Hermosa Beach are two towns that have grandfathered Costa Rica beach front real estate that is fee simple. You buy it. You own it. It is for this reason that the Central Pacific Coast is a popular destination for foreigners purchasing beach front and other properties. Even if you aren't interested in buying beach front property in Costa Rica, the demand for property (both on and off the beach) in this region of Costa Rica has stayed constant making the area less vulnerable to recessionary challenges and keeping property values in check. If you are buying Costa Rica beach front property, you owe it to yourself to work with an experienced broker and real estate agent like Ken Schaafsma of Oceanside Realty. Contact www.oceansiderealty-cr.com for additional information about beachfront property, prices, and Costa Rica real estate laws pertaining to beachfront and foreigner ownership of Costa Rica real estate.