Costa Rica Presents Desired Location for Affordable Second Homes in Foreign Lands
Many Americans seeking a second home are turning to Costa Rica. Known for tropical animals and exotic landscapes, Costa Rica beach properties are an ideal setting for a second home.

A trip to Costa Rica requires only a two-hour plane ride from the Southern tip of the United States, allowing investors to visit and inspect their second homes regularly.

In addition to the country's natural beauty, Costa Rica property and development costs are remarkably lower than in the United States, and return on investments are higher.

Last year, the U.S. Central Intelligence Agency World Fact Book ranked Costa Rica as one of five countries that stands "head and shoulders above all other nations worldwide in terms of the potential their real estate markets present property investors."

A piece of Costa Rica property currently costs approximately 70% less than equivalent property in America. Once developed, a Costa Rican piece of property can triple its value in as little as 5 years. To encourage development and investment, the Costa Rican government has reduced the slowing effects of "red tape" necessary to purchase or develop land.

Miguel Tapia, finance director of the Costa Rican Construction Chamber says, "Beach tourism development has brought along with it a series of additional developments, such as construction of banks, commercial centres, storage rooms and other services. The construction industry has been struggling to find enough labor to keep up with growth."

The cost of living in Costa Rica is another incentive for second-home buyers.

A monthly income of us$2,000 allows individuals to live very comfortably in Costa Rica, and tax consequences for owning property are minimal.

Costa Rican quality of life is comparable to that in America, and the country offers most technology and medical advances Americans access in their daily lives.

Compared to neighboring countries Panama, Honduras and Nicaragua, Costa Rica has proven a better country for building a second home.

Because of this, Costa Rica has become a desired market for potential landowners who desire a second home in an exotic locale.

The February 23, 2007, issue of "The TicoTimes" states that "with the country experiencing a continuing real estate boom, emerging condo projects such as the one in the western San Jose suburb of Escazu' are a common sight."  If property value continues to increase at its current pace, experts predict building a second home in Costa Rica may be unattainable for middle-class America within a decade.