What You Need to Know About Costa Rica Real Estate Before You Buy or Sell

Blog By Sian Deda

What You Need to Know About Costa Rica Real Estate Before You Buy or Sell

Buying or selling real estate in Costa Rica isn’t like doing it in the U.S., Canada, or Europe. The rules, the process, even the cultural norms, everything's a little different. If you’re thinking about getting into the Costa Rican real estate market, here’s what you need to know before making a move.

1. There’s No MLS System

In most countries, property listings are centralized in a Multiple Listing Service (MLS). Costa Rica doesn’t have one. That means no one-stop-shop for browsing all available properties. Instead, listings are scattered across agency websites, Facebook groups, local boards, and word-of-mouth.

Tip: Work with a reputable local agent who knows the area. Ask around and get referrals. You’ll want someone well-connected who can show you listings you’d never find online.

2. Foreigners Can Own Property

Yes, foreigners can own property in Costa Rica outright, no citizenship or residency required. The only exception is for Maritime Zone land (within 200 meters of the high tide line), where ownership is more restricted and requires extra due diligence.

Tip: Get a real estate attorney to check the title, zoning, and concession rights (especially for beachfront properties).

3. Use a Real Estate Attorney, Always

In Costa Rica, real estate transactions are handled by attorneys, not title companies. Your lawyer will draft the sale agreement, confirm the property has a clear title, and register the deed with the Public Registry. Don’t skip this step.

Tip: Hire your own lawyer, not the seller’s. And make sure they specialize in real estate.

4. Property Titles Need Careful Checking

Just because a property is listed doesn’t mean it has a clean title, or any title at all. Squatters’ rights, disputed boundaries, or unregistered inheritances can complicate things fast.

Tip: Always get a title search from your attorney and use a reputable notary to record any transaction.

5. Financing Is Not a Given

Getting a mortgage from a local Costa Rican bank as a foreigner is tough and expensive. Most real estate purchases are done in cash or via owner financing.

Tip: If you need financing, look for seller-financed deals or explore financing in your home country.

6. Know the Local Market Before You Commit

Costa Rica’s real estate market is highly regional. A beach condo in Tamarindo won’t follow the same pricing trends as land in the Central Valley. There’s no uniform market, and prices can vary widely depending on location, development, and proximity to expat communities.

Tip: Spend time in the area you’re buying in. Talk to locals, expats, and agents. Visit multiple times in different seasons if you can.

7. Closing Costs and Taxes Are Your Responsibility

Closing costs in Costa Rica typically range from 5% to 8% of the property price. Annual property taxes are low (around 0.25% of the registered value), but there may be luxury taxes on high-end properties.

Tip: Budget for all fees and taxes, don’t assume they’re included like they might be elsewhere.

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Bottom Line

Costa Rica offers amazing real estate opportunities, but the process requires patience, good advice, and local know-how. Do your research, hire the right people, and don't rush. Buying property here can be a great move, but only if you go in with your eyes open.

Thinking of buying or selling in Costa Rica? Let us know what part of the process you’re in.
We are happy to help guide you through it.

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www.diamantedelsurcr.com
info@diamantedelsurcr.com