Is it Safe to Invest in Costa Rican Real Estate?

Investing in Costa Rican real estate is considered safe for foreign investors. In Costa Rica, international buyers enjoy equal rights to purchase and own property as locals do. You can own property either in your name or through a Costa Rican corporation, which may be owned by a foreign entity. For more insights on investment safety, visit our Real Estate Investment Safety page.

How Can I Verify the Legality of a Property in Costa Rica?

To ensure a property’s legality in Costa Rica, check its registration in the National Public Registry of Properties. Legally registered properties have a unique Folio Real number and a Plano Catastro number. For detailed guidance, see our Property Legal Verification guide.

Who Manages the Transaction Funds in Costa Rica?

In Costa Rica, transaction funds over $10,000 must pass through a SUGEF-registered escrow agency, safeguarding your investment during the due diligence process. Bernard Realty recommends trusted escrow services for secure transactions. Learn more on our Escrow Services page.

Is a Real Estate License Required in Costa Rica?

In Costa Rica, real estate licensing is encouraged but not mandatory. Bernard Realty agents are licensed and adhere to standards set by Costa Rica Global Associations of Realtors, aligned with NAR standards. Discover more about our professional standards on our Agent Licensing page.

What About Title Insurance in Costa Rica?

While Title Insurance isn’t common in Costa Rica, thorough property investigations by attorneys offer similar security. They trace property histories to ensure clear titles. For more information, check out our Title Investigation Services section.

Understanding Property Taxes in Costa Rica?

Property taxes in Costa Rica are uniform across the country and notably low. The rate is generally 0.25% of the property’s registered value per annum. For instance, if you own a property with a registered value of $200,000, the annual property tax would be approximately $500. This makes Costa Rica an attractive destination for property investment. For more details on property taxation, refer to our Property Tax Overview section.

Can Foreigners Own Beachfront Property in Costa Rica?

Foreigners can own beachfront property in Costa Rica under certain conditions, such as holding a concession for 20 years or owning through a corporation structure in condo developments. For detailed information, visit Beachfront Ownership Regulations.

Options for Financing a Property in Costa Rica

While direct mortgages to foreigners are rare, there are alternative financing options, including owner financing or using a self-directed IRA. Explore financing options on our Property Financing page.

Residency Requirements for Living in Costa Rica

To live in Costa Rica full-time, legal residency is required. Temporary stays up to 180 days are allowed for most international travelers without special visas. Learn more about residency requirements on our Residency Guidelines page.

What to Expect for Closing Costs in Costa Rica

Closing costs in Costa Rica are government-regulated, usually about 4% of the property’s value. Costs include notary fees, transfer taxes, and documentary stamps. Get a detailed breakdown on our Closing Costs page.

Do I Need an Attorney for Property Purchase in Costa Rica?

An attorney is essential for property transactions in Costa Rica, handling due diligence and property registration. Bernard Realty can connect you with experienced attorneys. Find out more on our Legal Assistance page.

Options for Holding Property in Costa Rica

Properties in Costa Rica can be owned personally or through a Costa Rican Corporation. The latter is often recommended for non-residents. Our agents can provide detailed advice, as outlined on our Property Ownership Options page.

Cost of Real Estate in Costa Rica

Real estate costs in Costa Rica vary, catering to diverse budgets and preferences. Bernard Realty offers properties ranging from affordable lots to luxury estates. Explore our listings on the Property Listings page.

Homeowners Association Fees in Costa Rica

HOA fees depend on the development and amenities provided. These fees cover maintenance, security, and other services. For a comprehensive overview, visit our Homeowners Association Fees page.

Hotel, Restaurants & Vacation Home - Costa Rica Real Estate

Description

Nestled along the main road to Manuel Antonio and just a short drive from the beach and national park, Hotel Mimos offers a prime location combined with the charm of Spanish colonial and indigenous architectural themes. This property is uniquely designed for maximum rental flexibility and includes two distinct sections: the main hotel and a separate luxury vacation rental home, which can function independently or together based on guest needs.

The main hotel features 12 well-appointed rooms: 4 standard rooms, 6 junior suites, and a spacious apartment with 2 bedrooms, each equipped with private bathrooms. Guests can enjoy an exquisite dining experience at the on-site Italian restaurant, which seats up to 80 patrons and is conveniently located next to the pool. The hotel is equipped with modern amenities such as cable TV, air conditioning, ceiling fans, private parking, a jacuzzi, central gas, a 10,000-liter reserve water tank, and garden areas. It also provides 24-hour security and a tour booking service to enhance guest convenience.

The luxury vacation rental home is built with high-quality finishes and designed to offer versatility as both an annex to the hotel and a standalone holiday retreat. It features a private entrance, its own parking garage, pool, jacuzzi, kitchen, laundry facilities, and a private garden. The home includes 6 rooms and 5 baths, comprising a self-sufficient apartment, two suites, and a grand master suite, all customizable to guest preferences.

Hotel Mimos is a well-established turnkey operation with 9 experienced bilingual staff, including a local chef renowned for his culinary skills. Having undergone recent renovations, the hotel and restaurant now feature a new room layout, an expanded dining area with a modernized design, a significant property extension, and refurbished rooms and common spaces.

Seize the opportunity to own a thriving hospitality business in one of Costa Rica’s most sought-after tourist destinations. Contact us today to explore how Hotel Mimos can become your next successful venture!