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Hurricanes in Costa Rica??? Hurricane Season is upon us. The morning news showed tropical storms and hurricanes in both the Atlantic and the Pacific. The Pacific storms appear to have shifted out to sea with no threat to land, but the Atlantic and Caribbean storms are threatening to hit land and cause damage. How is Costa Rica affected by hurricanes? I won’t say that it is impossible for Costa Rica to be hit by a hurricane, but highly unlikely (about two storms every 100 years). What is more likely is that Costa Rica will experience heavier than normal rains as the weather patterns can be affected by tropical storms and hurricanes that hit from Nicaragua to the North. The good news, Costa Rica’s tropical weather includes heavy rains, but with very little wind and most areas, like the Jaco Beach area, are not built in flood plains and can shed large amounts of waterfall without flooding. It is important that you check to see if the area that you are considering for purchase is in a flood plain or not as certain areas in Costa Rica may be prone to flooding and damage during heavy rains.
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Real estate values in most of the world's free markets are tied to location (location, location, location) and Costa Rica is no exception. If you purchase beach property in Costa Rica you are best served in almost every case if you purchase property that is titled 'fee simple" or "free hold" as it is called in the US and Canada as opposed to purchasing concession lands where you are basically leasing the property from the government. Property in Jaco Beach, Costa Rica is titled fee simple. Foreigners can own it free and clear, 100%. It is imperitive to maximize your investment that you check to see if the property you are purchasing is fee simple. Location. Location. Location. Thinking of purchasing beach property in Costa Rica? Buy it now! Jaco Beach is the center of the fastest growing area in Costa Rica for numerous reasons and there is no indication that conditions will slow down any time soon. The new highway linking Jaco to San Jose is under construction and when complete will make the beach area very accessible to the capital city. Numerous multinational corporations are based in San Jose and you can be sure that the completion of the highway will spur expansion toward the coast and raising real estate values. Further, in the upcoming weeks a major announcement is expected regarding a recent major property acquisition in the area that will be big news and will immediately and possitively affect real estate in Jaco Beach. Next, the areas infrastruction is much better than the beach areas in other parts of the country. Also, water is abundant in the Central Pacific so Jaco is not adversely affected by the water shortages that are causing moratoriums on new projects in certain areas in Guanacoste. Finally, Jaco is a growing beach town with a variety of restaurants, bars, casinos, golfing, sports fishing and every tourist activity imaginable. As the town progresses it will increasing attract more baby boomers and retirees who will not only vacation in the area, but will call it home. If you are investigating beach property in Costa Rica, you owe it to yourself to investigate the opportunities in Jaco Beach, Costa Rica.
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Real estate buyers in Costa Rica who are NOT citizens or have not yet established legal residency in Costa Rica should be extremely careful if / when considering the purchase of Concession Property in Costa Rica. What is concession property? In general, concession property (also known as leasehold property in North America) is where the government of Costa Rica Is all property in Costa Rica Concession Real Estate? NO. Most of the property in Costa Rica is titled fee simple (freehold), but most of the oceanfront real estate in Costa Rica is in fact concession property. In the 1970's the government of Costa Rica, in an effort to protect and maintain control of its shoreline on both the Pacific and Caribbean Coasts Why is this important? Foreigners can not legally own more than a 49% share of Concession Land What are the risks for purchasing concession property in Costa Rica? The most obvious risk is that if the government decides not to renew your concession you can lose the property. Unlike eminent domain in the USA, if a legal concession is not renewed, the owner is entitled to retributions. The amount of retribution is based on the government’s determination of the value of the improvements on the land - not the cost of the land itself! Other risks include purchasing concession land without improvements on the land and not being granted the concession to build on the property or not being granted permission to build what you want to build on the property. Another risk is that the previous owner built on the concession land without the proper concessions and building permits. The concession expires, you reapply and are told that your home has not been properly permitted. You could be required to demolish the home and reapply. Isn't it true that all concession land will soon revert to titled (fee simple or freehold) real estate in Costa Rica? Although there are always rumors in the air, most are created by those wanting to maximize the sales potential of a certain property. In most cases concession real estate sells for a much lower price that real estate that is titled fee simple for obvious reasons. There is more evidence to show that the government is actually increasing enforcement of concession land and will most likely not be open to giving up control of the property to foreigners. Are you advising against foreign ownership of concession property? Because there is plenty of titled property available in Costa Rica, I do in most cases advise against purchasing concession real estate. However, as in any real estate transaction in Costa Ricait is advisable to complete an exhaustive due diligence process prior to purchasing or closing on a property. I recommend getting two independent legal opinions by a firm that is at an arms length from the transaction. Some purchasers are more prone to risky purchases / investments while others are more conservative. If after doing proper due diligence and learning all of the facts a purchaser wants to accept the additional risks associated with purchasing concession real estate, then that is for the buyer to determine for themselves. Remember, there is an ample supply of fee simple (free hold) properties with clean title in Costa Rica. Fee simple properties can be owned free and clear, 100% by foreigners without restrictions. It is usually a much cleaner purchase and transaction and in most cases a better, long-term investment. Costa Rica has a stable government and is known as the Switzerland of Cental America. Thousands of Americans and Canadians are purchasing real estate for investment, second home and / or retirement. Use a good real estate professional such as Oceanside Realty who will work on your behalf as a buyer's agent and always perform proper due diligence. See you in Paradise! Note - always obtain proper legal advice before purchasing concession real estate in Costa Rica.
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The beach at Jaco, Costa Rica is beautiful with its crystal blue waters, breaking waves, lush greenery all surrounded by mountain rainforest. It won't be long before we can include the beach as part of this colorful description. Jaco is receiving a donation from Daystar Properties and the Central American Chamber of Commerce for new beach grooming equipment that will remove debris (mostly trees, rocks and litter) that wash down river during the rainy season. The equipment, manufactured by Rockland Corporation, is capable of picking up small items of trash to tree trucks and should be arriving at the municipality of Garabito in early February. The equipment will be available to all of the beaches within the jurisdiction of Garabito. Finally, the beach at Jaco will be one of the finest beaches in Costa Rica. We applaud Daystar Properties and the newly formed Central Pacific Chamber of Commerce.
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![Diamante Del Sol - Beach Front 2[1]](http://media.point2.com/p2a/listing/6f30/f31c/f593/3b62bd6dd6d097d2028f/w475h356.jpg)
10% Down / 10% Jan / 10% Aug / financing
• 936 sq. ft., 1 bath, 1 bdrm multiplex "ten story building"
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MLS®
$229,900
- pre-construction discount
Beach Front Community, Downtown
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Location. Location. Location......Located in the center of Jaco bording main street and the Pacific Ocean, Diamante del Sol boasts modern and luxurious oceanfront condominiums. Five towers with heights of 8 and 10 floors will host comfortable 1-, 2-, 3- and 4-bedroom suites with spectacular ocean and mountain views. Diamante’s onsite commercial center will feature a casino, a four star air conditioned restaurant, and a world class day-spa and fitness center. Private balconies, beachfront living and luxury surrounding you indoors and out makes Diamante del Sol the choice for those who want the very BEST vacation home experience. Units come fully furnished and include closing costs. Developer financing is available with 30% down. Don't forget, Diamonte Del Sol is located on the Ocean on fully titled, oceanfront property -- not concession land like most oceanfront real estate in Costa Rica, which means that foreigners can own this property 10% free and clear -- fee simple -- just like buying in the United States! Title Oceanfront property is very scarce not only in Costa Rica, but all of Latin America!!!!!!!!!!!
Property information
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10% Down / 10% Jan / 10% Aug / financing
• 936 sq. ft., 1 bath, 1 bdrm multiplex "ten story building"
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MLS®
$207,900
- pre-construction discount
Beach Front Community, Downtown
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Location. Location. Location......Located in the center of Jaco bording main street and the Pacific Ocean, Diamante del Sol boasts modern and luxurious oceanfront condominiums. Five towers with heights of 8 and 10 floors will host comfortable 1-, 2-, 3- and 4-bedroom suites with spectacular ocean and mountain views. Diamante’s onsite commercial center will feature a casino, a four star air conditioned restaurant, and a world class day-spa and fitness center. Private balconies, beachfront living and luxury surrounding you indoors and out makes Diamante del Sol the choice for those who want the very BEST vacation home experience. Units come fully furnished and include closing costs. Developer financing is available with 30% down. Don't forget, Diamonte Del Sol is located on the Ocean on fully titled, oceanfront property -- not concession land like most oceanfront real estate in Costa Rica, which means that foreigners can own this property 10% free and clear -- fee simple -- just like buying in the United States! Title Oceanfront property is very scarce not only in Costa Rica, but all of Latin America!!!!!!!!!!!
Property information
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• 936 sq. ft., 1 bath, 1 bdrm multiplex "ten stroy building"
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MLS®
$251,900
- pre-construction discount
Jaco Beach, Central Pacific
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Location. Location. Location......Located in the center of Jaco bording main street and the Pacific Ocean, Diamante del Sol boasts modern and luxurious oceanfront condominiums. Five towers with heights of 8 and 10 floors will host comfortable 1-, 2-, 3- and 4-bedroom suites with spectacular ocean and mountain views. Diamante’s onsite commercial center will feature a casino, a four star air conditioned restaurant, and a world class day-spa and fitness center. Private balconies, beachfront living and luxury surrounding you indoors and out makes Diamante del Sol the choice for those who want the very BEST vacation home experience. Units come fully furnished and include closing costs. Developer financing is available with 30% down. Don't forget, Diamonte Del Sol is located on the Ocean on fully titled, oceanfront property -- not concession land like most oceanfront real estate in Costa Rica, which means that foreigners can own this property 10% free and clear -- fee simple -- just like buying in the United States! Title Oceanfront property is very scarce not only in Costa Rica, but all of Latin America!!!!!!!!!!!
Property information
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3 minutes away of marina los suenos
• 1,700 sq. ft., 2 bath, 2 bdrm 2 story
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MLS®
$340,000
Central Pacific, Costa Rica
Property information
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• 950 sq. ft., 1 bath, 1 bdrm multiplex
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MLS®
$189,000
- to $209000
Downtown, Jaco Beach
Property information
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