New Tourism Campaign, Costa Rica: Only The Essentials

May 12, 2023

'Costa Rica: Only The Essentials' is Costa Rica’s newest international campaign to attract more tourism from the United States and Canada. Costa Rica's Tourism Board (ICT) is branding the country as “an opportunity to connect with the essence of life: nature, well-being, culture and adventure.” These are the key reasons that brought many of us to visit Costa Rica. And the more that this message is received by people from around the world, the more visitors that Costa Rica is likely to receive.

 

Costa Rica: Only The Essentials

 

The brand new campaign, Costa Rica: Only the Essentials, is set to run for two years and will target a number of large cities in North America that already feature direct flight paths to Costa Rica. New York, Miami, Fort Lauderdale, Minneapolis, Las Vegas, Tampa, Orlando, Denver, Philadelphia, Phoenix, Seattle, Austin, Detroit, Los Angeles, San Francisco, Dallas, Houston, Atlanta, Boston, Chicago, Toronto, Montreal and Calgary will all receive the ad campaign across various channels.

 

https://www.youtube.com/watch?v=GCie-3FLA6k

 

ICT has organized to lease billboards in these districts as well as pay for advertising on taxis, buses, and in subway stations. The government tourism agency will also sponsor content on platforms that include new media like TripAdvisor and classic publications like The New York Times.

 

“The campaign proposes a personal connection with what is truly substantial in life. And that is what Costa Rica offers through countless experiences, with its different landscapes, nature, culture and adventure,” said María Amalia Revelo, Costa Rica’s Tourism Minister. 

 

The tourism campaign is the first step in President Carlos Alvarado’s plans to reinvigorate the Costa Rican economy. Elected in 2018, the current government has plans to continue the growth of Costa Rica’ economy through public and private investments.

 

Costa Rica’s First International Ad Campaigns

 

The tourism boom in Costa Rica began in 1987, when the number of visitors organically rose from 329,000 in 1988, to 1.03 million in 1999. Costa Rica’s government decided to capitalize on this growth and launched the 1997 “No Artificial Ingredients!” promotional video.  The campaign “delivered excellent results,” according to former tourism minister Allan Flores.

 

https://www.youtube.com/watch?v=NHT9HBM6F_I

 

In 2008, the numbers for international tourism in Costa Rica had doubled to over 2 million. However, the combined effect of the global economic crisis and the 2009 flu pandemic resulted in a reduction of tourists arrivals in 2009 to 1.9 million visitors, an 8% reduction as compared to 2008.

 

In 2010, the number of visitors began to rise again to 2.1 million, barely exceeding the 2008 peak. Using this boost in popularity, Mr. Sloth was introduced in 2011. It became an internet sensation overnight, offering free trips to Costa Rica. Even Anderson Cooper from CNN got involved, presenting a newlywed couple with a Gift of Happiness trip on his show.

 

https://www.youtube.com/watch?v=zM4UmZMpuWU

 

An historical record of 2.5 million international visitors was achieved in 2014. That year, it grew 4.1%. This coincided with the “Save the Americans” campaign released in 2014, which targeted overworked Americans and Canadians. The ad won a “Webby” for Best Online Film & Video in the “Travel & Adventure” category. And in 2015, Costa Rica saw an increase to 2.66 million foreign visitors.

 

https://www.youtube.com/watch?v=QbhCpfxsod8

 

CNN and UNWTO Partnership Ad Series

 

In 2017, the United Nations World Tourism Organization (UNWTO) partnered with CNN International to launch ‘Essential Costa Rica: My Choice, Naturally.’ Partnering with CNN offered unprecedented reach to more than 450 million homes and 178 million unique monthly users.

 

This series of videos showcased Costa Rica as “a destination that generates authentic travel experiences.” This was Costa Rica’s first promotional focus in Europe, targeting France and the United Kingdom along with North American markets. 

 

https://www.youtube.com/watch?v=9g7-4gf76s4

 

The video won the Gran Prix Termatalia/Art&Tour 2017. Each of the campaign's videos highlights a different part of Costa Rica and invites users to learn more about the lifestyle that makes Costa Rica the happiest place on earth.

 

Importance of Tourism in Costa Rica

 

According to the Global Wellness Tourism Economy, the wellness tourism industry currently represents a market of US$563 billion and the tourists in this market spend in average 130% more than the average tourist. And Costa Rica is all about providing a natural, wellness experience that is truly 'only the essentials.'

 

Much of Costa Rica’s tourism continues to come from the U.S. and Canada. During the first half of 2019, these two countries comprised 65% of all tourists arriving by air.

 

There were 415,000 arrivals of Europeans to Costa Rica in 2018. The majority of these visitors came from Germany, the United Kingdom, France, and Spain. This is an increase of 7.6% over 2017 figures.

 

Costa Rica currently stands as the most visited nation in the Central American region. We surpassed 3 million foreign visitors in 2018. Comparatively, Panama was ranked second in the region with 2.5 million, followed by Guatemala with 2.4 million visitors.

 

Aside from the many wonders that tourism in Costa Rica provides to visitors, tourism is one of the main engines of Costa Rica’s economy. It comprises an estimated 8.2% of Costa Rica’s gross domestic product (GDP) and supports 9% of all employment.

 

Have you been thinking about moving to Costa Rica? You may not realize it, but there is probably someone exactly like you who has made the leap over to the land of pura vida. Is it finally your turn? Contact us to find out if Costa Rica is possible for you! sales@osatropicalproperties.com

 

Luxury Homes Costa Rica: A Perfect Escape To Nature

May 12, 2023

Luxury homes in Costa Rica are all about enjoying the very best environment for relaxing with family and friends in truly magnificent surroundings. Costa Rica is one of the most attractive Latin American countries in terms of security and quality of life and this country has much to offer in terms of variety and prestige. Costa Rica luxury homes feature intriguing architecture with eloquent finishes that are accompanied by captivating views of rolling emerald mountains, thick green valleys and the royal blue ocean. 

 

In recent years, Costa Rica has become one of the most popular places in the Americas among people looking to buy luxury real estate as a second home or vacation getaway. Luxury property prices continue to rise and the top homes and condos in Costa Rica are becoming ever more extravagant. Luxury developers in Costa Rica are meeting the expectations of the discerning millionaires who come looking for their eden.

 

Luxury real estate in Costa Rica is widely available in select areas across the entire country. San José, Escazú, Santa Ana, Curridabat, Guanacaste, Costa Ballena and the Caribbean are all popular areas for luxury properties in Costa Rica. The Costa Ballena in particular offers the perfect intersection of ambiance, services and leisure for a high quality lifestyle. In this region of the South Pacific coast, it is still possible to invest in quality agricultural land for development that you cannot find as abundantly in other luxury communities around Costa Rica. 

 

Why Buyers Choose Luxury Homes Costa Rica

 

It is no surprise that after sailing the magnificent eastern shores on his final voyage in 1502, Christopher Columbus referred to this magnificent landscape as la costa rica, or “rich coast.” Costa Rica possesses an innate wealth that extends far beyond its neighbors. This is a land filled with rainforests, rivers, lakes, waterfalls, volcanoes and some of the world’s best beaches. 

 

Regardless of economic climate, luxury real estate in Costa Rica continues to be built and sold every year. While millionaires tend to be just as careful and conservative as everyone else in difficult times, most will make a huge exception when it comes to their home. Buyers of luxury homes in Costa Rica can find a large choice of properties that live up to the standards of the most exclusive addresses in the United States in a more relaxed and pristine environment. When money is no object, architects and designers of luxury real estate in Costa Rica create outstanding works of art in the most stunning settings.

 

Costa Rica’s real estate investment environment offers tremendous opportunities for those looking to buy. While small in size, Costa Rica is incredibly diverse in regards to ecosystems, climate, infrastructure, amenities and lifestyle. This is a country whose people are consistently ranked as the happiest on the planet. Those who choose to live here enjoy a warm tropical climate and easy direct flights. This is truly a rich coast that is filled with opportunities for an enjoyable life.

 

Luxury Properties in the Costa Ballena

 

The Costa Ballena region of Costa Rica is a place where you can stay for a little or a lifetime. High-end buyers choose this region for their vacation home if they want to be in a very private setting, away from the public eye and noisy roads. Location is the added value in luxury Costa Ballena real estate. Not only can you live in what feels like a remote corner of the world. You can also be minutes away from gourmet restaurants, banks, stores and supermarkets and some of the most magical beaches in Costa Rica. 

 

Luxury homes in the Costa Ballena are built to create experiences and memories. Imagine starting the day with a super fresh organic orange juice from the garden to accompany your breakfast. You walk with the dogs around organic gardens and collect some fruits, veggies and flowers. You are in a clean environment, surrounded by evergreen forest. You take a deep inhale of fresh air, feel the breeze on your face and listen to the waves crashing against the rocks. 

 

In Costa Rica, high end homes are often an expression of our love for nature. Terraces, decks, and balconies are essential for taking advantage of the indoor/outdoor lifestyle. These areas in Costa Rica’s luxury homes will often capture views of the lush Talamanca mountain range, colorful sunsets over the Pacific Ocean and the famous Whale’s Tail at Marino Ballena National Park. 

 

Well maintained gravel roads lead upwards to private concrete roads in Costa Ballena luxury developments. They have manned gates with full security features, underground electricity, and beautiful tropical gardens. And the luxury homes you find within will be anything but ordinary. 

 

Within the Costa Ballena, there are several different environments. Rainforest, beaches, mangroves and the largest coral reef on the Pacific Coast of Central America are some of the natural wonders that draw thousands of high-end visitors each year. Tucked along the green mountains in the South Pacific are the luxury developments of the Costa Ballena. Gorgeous estates, eco-lodges, vacation rentals and upscale hotels are hidden from plain view. Strips of soft sandy beaches are home to a few high-end hotels and eco-friendly resorts. 

 

The expat population here continues to grow steadily each year, creating a strong and vibrant international community. Even so, this region is protected by law from over-development. It is one of the few unspoiled places left that is also fairly accessible from an international airport. As a result, luxury properties in the South Pacific are a rare commodity that will only continue to grow in buyers. 

 

What to Expect From A Luxury Home Costa Rica

 

For investors interested in tourism or a second house, the South Pacific coast has many wise choices. Costa Ballena’s luxury real estate market begins at around $750,000 USD in this region’s most popular and beautiful areas. Turnkey luxury villas can be found in both colonial and modern style. 

 

Luxury home prices are founded in expensive finishes such as imported marble and exotic wood and stone, as well as the very latest technology systems installed for your complete security and comfort. In our exclusive beach destination, you can expect to pay between $1000 to $10,000 per square meter of finished property for a true luxury mansion. Land prices in some of the most sought-after gated compounds are around $200 to $1000 per square meter. And both sets of prices depend largely on location.

 

Costa Rica is one of the most expensive luxury rental markets in Latin America. Spectacular beachfront mansions and opulent mountain estates can be rented for as high as $2,000 per day. Hoteliers in our region have serious competition from the growing market of privately-owned luxury homes for their added privacy in exceptional settings.

 

When it comes to property taxes, Costa Rica is comparatively low to luxury home taxes in Europe or North America. As an example, a luxury home in Costa Rica worth around $3,000,000 can expect to pay around $2200 for annual property tax and $6,800 for annual luxury tax.

 

Trust Our Team Of Luxury Real Estate Experts

 

Our goal at Osa Tropical Properties is to ensure that our luxury buyers make the finest acquisitions possible. Finding a great property is just a small part of the process when investing in Costa Rica. We place our clients and their luxury properties into expert hands when it comes to pricing, placement and marketing.

 

Our luxury real estate professionals are committed to maintaining the highest level of customer service. We offer the confidentiality that buyers are looking for and we get to know the unlisted exclusive luxury properties to share with our qualified buyers. We are constantly updating our inventory database to bring you only the most unique, exclusive and up-to-date luxury real estate in the Costa Ballena.

 

"We could not have had a better agent for our search. We put Rebecca Rowntree through her paces and she never got tired of our questions or evolving requirements. There is so much to see there that it takes someone with patience, fortitude and most importantly – insight and knowledge – to get the job done and she did it with a 5 star rating on all fronts. Thank you again! We’ll see you there soon!"

 

Mike and Elisa S.

 

Why We Love Ojochal, Costa Rica

May 12, 2023 in Discover Costa Rica, Discover Costa Ballena, Life in Costa Rica, Real Estate in Costa Rica

If I could name my favorite place in the world, it would be the small village of Ojochal in South Pacific Costa Rica. No matter how many places you may have visited or lived in the world, Ojochal moves people. It draws us in with its simple charms and minimalism. We are reduced to our primal selves, appreciating nature and its many wonders with full attention.

 

Escape burdensome routines

 

Many of us grow tired over time of our daily routines. We become worn from the pressures of sticking to deadlines and keeping up with the Joneses. Buying the latest gadgets and competing with our friends for who has the best quality of life stops feeling so important. Something inside of us calls us to find a different way to live. We know that it’s out there. And for those of us who feel adventurous enough, it is from this place of wanting "something more" that we begin our travels to find the place that feels like home.

 

Some of us are called to Ojochal by a very direct path. Costa Rica’s natural wonders and rich culture make this nation a dream destination on more than a few bucket lists. Those who specifically visit our small coastal region called the Costa Ballena ⁠— where the mountains meet the sea ⁠— quite often fall deeply in love with the spirit of this land and community. They continue to return, holiday after holiday, extending the duration of their stay until it only makes sense to own their own home in Ojochal. Even those who can only stay for part of the year are able to enjoy the rental income that this growing eco-tourism destination affords.

 

Getting to Ojochal by the scenic route

 

Those who find us after searching all over the world know that there is no place like Ojochal. You can live here how you want, feeling complete freedom to be yourself. This is a tranquil, serene culture and the home of pura vida. The essence of this phrase is embodied in the unpredictable yet consistent waves on our pristine beaches; in the relaxed but hardworking people; and in the flowing manner by which nature and humanity live together.

 

It doesn’t matter how long it took us to get here. We feel privileged to live amidst the jungle’s rivers, waterfalls and its magical display of wildlife in the here and now. It is the most simple indulgence to walk the grounds of our green properties, taking in the gentle and beautiful routines of the nature that surrounds us.

 

Fantastic flowers and their intoxicating smells are only some of the many wonders that Ojochal exhibits. In the thick, green carpet covering much of our foothills are paths that will take you to secluded waterfalls that look like they’ve never been seen by anyone else before. Or to a breathtaking lookout spot where you can see to the horizon from the Osa Peninsula in the south to the Whale’s Tail in the north. Birds of multi-colored plumage and monkey troupes with howls as loud as jet engines parade across the jungle’s canopy. We have almost every luxury here ⁠— stores, spas, clinics, first-class restaurants, high-speed internet. But spending time in the lush nature at our doorsteps is a daily reminder to breathe deeply in gratitude. Fresh air is plentiful here.

 

A one-of-a-kind community in Ojochal

 

When it all boils down, we love Ojochal for its exceptional community. This area has its history in purposeful development while keeping Costa Rica’s strong environmental ethics in mind. It hasn’t always been perfect but today Ojochal is a Blue Flag community with goals for continued improvement. We work collectively as a community to ensure the maintenance of our roads, schools and services. And we have recently grown an exciting number of new businesses that serve the whole of our international population. We are proud of every accomplishment that we make and we celebrate our successes together.

 

What we really do best is support one another in our ideals and attempts. There are a number of groups and forums that help us stay connected to our local community. We easily learn about the many classes, get togethers and volunteer opportunities that occur regularly. Each of us came here to live a better life and we know that teamwork makes the dream work.

 

If Ojochal sounds like it might be your dream destination in the future, we invite you to get in touch with our office. We are a local and independent real estate office that has been operating in Ojochal, Costa Rica and the whole of the Costa Ballena since 2005. Our agents are happy to answer any questions about our local region without any pressure to buy. We know that it takes time and patience to satisfy the many concerns that people have about buying a home overseas. Our website is filled with helpful articles to get you started on your journey to Costa Rica. Sign up to our newsletter below for weekly market updates, showing you what’s happening in our area from local experts. We hope to hear from you soon!

 

Tourism in Costa Rica Continues to Grow for a Number of Reasons

May 12, 2023 in Discover Costa Rica, Discover Costa Ballena, Tips for Buyers, Tips for Sellers, Real Estate in Costa Rica

Tourism in Costa Rica continued to be a big growth industry in 2019. International air travel increased by 4.5% in the first six months of this year. More than 1.3 million people flew into Costa Rica, equating to almost 60,000 additional arrivals.

 

“The figures reflect stable, strong growth,” said Maria Amalia Revelo, the Minister of Tourism. “The increase in arrivals from Europe is particularly gratifying, since it shows that Costa Rica is growing as an important destination in that market,” she added. 

 

Where are tourists coming from?

 

Arrivals from Germany in particular increased by 13.7%. In total, more than 760,000 came from the United States; 150,000 came from Canada; 255,000 came from Europe; and 365,000 from neighboring countries. The Costa Rican Tourism Institute (ICT) creates a destination promotion plan for each country of origin, based on their arrival statistic.

 

Tourism in Costa Rica is one of the fastest-growing economic sectors in the country and 2018 was no exception. Costa Rica welcomed 2.8 million tourists last year. Americans and Europeans represent 65% of those visitors, spending more than $1000 per person.

 

Starting in December, those flying between Spain and Costa Rica can experience an upgrade to the Airbus A350-900 — one of the most modern airplanes in the industry.

 

What’s on offer in Costa Rica?

 

Costa Rica was named “Mexico and Central America’s Leading Destination at the 2019 World Travel Awards Latin America. This is a prestigious award celebrating excellence in the global travel and tourism industry. Costa Rica was honored for “its lush cloud forests and rich biodiversity” according to the award’s organizers.

 

Costa Rica is one of the most important and recognized eco-tourism destinations in the world. Many communities participate in the Ecological Blue Flag Program, modeled on a similar program developed in Europe in 1985. So far this year, a total of 59 beaches in Costa Rica earned the highest distinction. Additionally, Costa Rica was included in the 10 Best Ethical Destinations in the Developing World in 2018.  This list accounts for environmental protection, social welfare and human rights.

 

As a part of the International Day of the World’s Indigenous Peoples last week, Costa Rica announced that its laws will recognize the nationality of the Ngäbe indigenous population living on the eastern border of Costa Rica and Panama. This law affects 3000 members and gives them the right to self-determination. The government will also create a database of the Broran people in the southern area of Térraba. Their goal is to preserve their customs, traditions and cultural wealth.

 

This type of progress not only serves to protect indigenous peoples' right to self-determination, but also helps to share their cultural knowledge with the tourism community. In the Southern Zone, the Boruca community near Sierpe is a good example of self-determination and economy built on sharing indigenous culture.

 

What’s being done to protect tourist safety?

 

More tools are being implemented to keep tourists safe. Police are being trained using Costa Rica's tourism funds and new equipment is being purchased, like upgraded patrol vehicles.

 

Several new lifeguard programs have been stationed at Costa Rica's popular beaches. Playa Ventanas, Playa Ballena and Playa Dominical in the Southern Zone regularly have lifeguards on duty. Signs have also been put in place at high-risk beaches, warning of riptides and other dangers. Paired with updated technology to monitor surf conditions, Costa Rica hopes to keep swimmers and surfers safe. 

 

ICT is launching a mobile phone application for tourists in six weeks’ time. Visit Costa Rica will offer “advice and information on beaches, cities, hotels, road transport, emergency contacts and directory with foreign embassies,” according to the their website.

 

The Ethics of Costa Rica: Reason #4 to Move to Costa Rica

May 12, 2023 in Discover Costa Rica, Discover Costa Ballena, Life in Costa Rica, Real Estate in Costa Rica

When it comes to everyday ethics, sustainability is a way of life that draws people to want to move to Costa Rica. There is a strong daily practice here of tending to the land, water and inhabitants. The green lands and blue coasts are filled with diverse and important life that inspire many of us who have the pleasure to witness them.

 

Those who choose to move to Costa Rica are often especially interested in becoming involved in seeing a brighter future today. We are inspired by the best and brightest in our communities and we hope that our government can be reflective of our strongest community values. This is also the dream for many Costa Ricans and the best and brightest are pushing their nation to be the best that it can be.

 

Renewable energy on the world stage

 

Costa Rica has a strong focus on being an environmental leader on the world stage. In the United States, renewable energy made up about 15% of the total power consumption in 2016. This figure pre-dates Trump and the Paris Climate Accord. Comparatively, Costa Rica's national grid continues to generate around 99% renewable energy. This paints a good picture of how far advanced Costa Rica's policies are ahead of the world leader. Even progressive Canada reports only generating 66% of the nations power through renewable resources in 2017.

 

Costa Rica manages this incredibly high figure because the nation’s policies are reflective of the attitude of the people. The opportunity is present to harness the forces of nature that this dynamic landscape is known for and Costa Ricans are choosing to use these opportunities. There is abundant geothermal energy, along with and ample amount of hydro power stations, wind turbines and a growing solar power industry. Costa Rica as a nation continues to choose to grow its economy alongside its use of renewable resources.

 

The origins of nature reserves in Costa Rica

 

Costa Rica is a country that is proud of its rich heritage in green activism while accepting that it is still being developed. International expats who come to enjoy the pristine nature and relaxed atmosphere bring with them plenty of concern and care. The idea on many minds is to grow the percentage of land and marine territory dedicated to national parks and reserves. Around 27% of Costa Rica is currently dedicated to preserving the habitats of roughly 5% of the world’s total biodiversity.

 

Cabo Blanco Absolute Natural Reserve in Nicoya became Costa Rica's first national reserve in 1963. The goal of the founder, Olof Wessberg, was to promote and support teaching, research and environmental education. With his great passion and wealth, he began the first major conservation project in the nation.

 

Until the 1960s, the now reserve was being depleted of its natural forest to be used as farm and pasture land. Emphasis in those days was placed on economic development through the increase of agricultural production ⁠— a trend which began with the United Fruit Company in the 1880s. Little concern was paid to the conservation of natural habitats in Costa Rica at the time.

 

Olof and his partner, Karen Mogensen, arrived in Costa Rica in the 1960s to pursue their dream of living in harmony with nature. They worked to reforest their newly acquired farm near Montezuma with native tree seeds in the Cabo Blanco area nearby. At the time, this region was an oasis amidst the vastly desertified land that was being used for low-yield pastures and agriculture. The couple sought to protect this natural jewel by buying 3,100 acres of land and turning it into the first protected area in all of Costa Rica.

 

National investment in the Southern Zone

 

UNESCO’s International Coordinating Council of the Man and the Biosphere Programme met in June of 2017 to add Costa Rica’s Savegre Reserve to its World Network of Biosphere Reserves. According to the National System of Conservation Areas (SINAC), this reserve is home to 20% of Costa Rica’s flora, 54% of the country’s mammals, and 59% of the birds. This area is home to some 50,000 people, many of whom primarily subsist on either eco-tourism, agriculture or aquaculture.

 

This designation was made possible by the hard fought efforts of the people in this region. In 2015, former President Solis signed an executive decree that banned dams from the Savegre River for at least 25 years, thus protecting this networked region that stretches from Manuel Antonio to the Costa Ballena. This is the fourth designation of its kind in the country, although it is the first to include coastal marine areas.

 

Creating something from something

 

People all over Costa Rica love to work with their hands and to create things from their land. Everywhere in this country, you will find craftspeople making food, clothing, utensils and anything else you might want or need. There is a love for this land and for using its abundance to create a simpler, possibly better world. People here are conscious that there is not a need to transport items from all over the world to sustain us and there is a big push to return to nature and local. Ferias (farmer's markets) are an important part of local economies, serving to sustain commerce within the community to a high level.

 

A new type of humanity

 

In addition to the initiatives involving the protection of the nature out there, Costa Rica’s progressive ideals extend to civil rights. Especially when compared to its nearest neighbors, the democratically-elected government of Costa Rica stands out, continually working on achieving the highest civil standards set by the first world.

 

This is a nation with no military. Government spending that would traditionally go to the military is instead allotted to universal health care and education. Literacy rates are among the highest in the world and Costa Rican workers are some of the highest paid in Latin America. And for many who care about everyday ethics, this is a big reason for them to want to move to Costa Rica.

 

Gay marriage is not yet legal but the current government guarantees that it will be by May 26, 2020. Same sex unions are, however, legally recognized. The courts have deemed that the outdated constitution holds no baring over such matters. Costa Ricans are generally open-minded and accepting, despite being a largely conservative Catholic nation. They leave the door open for policies to grow quickly with the times.

 

Can you see yourself living in this land of eco-ethics and sustainable culture? Do you want to move to Costa Rica? Contact our office to learn more about how our agents can help you live your best life in Costa Rica! sales@osatropicalproperties.com

 

Ferias in the Costa Ballena Area (Reason #7 to Move to Costa Rica)

May 11, 2023 in Discover Costa Ballena, Discover Costa Rica, Life in Costa Rica

Many of us have chosen to move to Costa Rica for the natural wonders this bountiful yet small land has to offer. This country is 119 kilometers at its narrowest from coast to coast and 464 kilometers at its longest distance. But this is a fruitful land of twelve different climate zones and home to 4% of the world’s total biodiversity. Costa Rica's exquisite nature is quite possibly enough to wow the over three million tourists that visit Costa Rica annually. What really sustains our love of Costa Rica is the great quality of air, water and particularly the food.

 

Farmer's markets are a place to showcase farmers and artisans and their delicious goods made with love every week. We have three main weekly markets that happen in our Costa Ballena region. There are also three others in the outlying area. Each one offers opportunities for sourcing local, fresh, and organic produce and handcrafted goods.

 

Uvita’s Wednesday El Mercado

 

 

Opening their doors in December of 2017, Uvita’s El Mercado has been a local staple for over two years. Located at Bahia’s huge Salon Communal, dozens of vendors showcase their local produce. Enjoy a variety of hand-made foods, clothing, art and more. Lavender and cacao goat’s milk soaps, organic kimchi and herbal remedies and more are available under one roof. Visit them every Wednesday from 8 am - 5 pm.

 

Most of what you'll find here is made locally. Vendors are excited to share samples and discuss how they made their products and what they used. Peruse the many fresh and local fruit and veggie vendors and fill your reusable bag with whole foods. El Mercado is dedicated to the community’s plastic-free initiative so be sure to bring your own.

 

Prices are good at this feria, and many fruits and vegetables are priced comparably to the supermarket. They are, however, of superior quality, freshness and selection. The freshness of local produce has always been one of the main reasons for many to move to Costa Rica.

 

You may have the pleasure of being serenaded by one of the area’s music talents. From 10 am - 12 pm, a local singer/songwriter is featured every week in the Salon. Grab a falafel kebab or an Argentinian steak sandwich and take in a show in between running errands in Uvita. Wednesdays are fun thanks to El Mercado.

 

El Mercado offers: premium fruits and vegetables, handicrafts, hot meals, plants, clothing, nuts, seeds, grains, spices, sauces, dairy products, meat, fish, oils, bread, cleaning products, lock smith, live music

 

Uvita’s Farmer’s Market

 

 

Uvita’s Saturday Farmer’s Market offers fresh foods and locally made goods weekly from 8 am - 12 pm. Head in to Uvita’s central district and find it at the indoor soccer field. You will find many of the same vendors from the Wednesday market. Expats who move to Costa Rica get involved and sell their creations, too.

 

This market is extremely popular and busy. It is a smaller space and on Saturday, when more locals are available to come outside of work. Arrive early at this market to get the best selection of produce. If you’re happy to take your time and look around, this market offers exciting products and experiences!

 

Local craftsmen showcase intricate brass, copper and silver jewelry, embellished with touches of wood, feathers, shells or gemstones. Vendors are more than willing to share their stories. They will give descriptions of where their products come from and how they are sources sustainably and ethically. And healers of a variety of modalities are around to give you a beneficial experience.

 

Different flavors of kombucha, smoked fish and healing chocolates are just some of the sensational features of this market. There are around 30 stalls, each offering something different.

 

Prices at this feria are reasonable, with some premiums on specialty items. Some items are imported from cooler regions like portobello mushrooms and asparagus. But if you stick to what’s local, you will be paying slightly better prices than the supermarket. On top of that, the farmer is earning more by cutting out middlemen.

 

Check out Uvita’s Farmer’s Market for: or vegetables, cold-pressed coconut oil, fruits, seeds, nuts, grains, spices, fish, cheese, meat, salsas, pickles, bread, herbal remedies, jewelry, natural body products, souvenirs, clothing, crafts, chocolate, massage, reflexology, hot mea

 

Dominical Eco Feria

 

 

A truly committed group of eco-champions came together just over a year ago to create Domincal’s Eco Feria at Patron’s. This all day event is the newest market in the Costa Ballena but it’s possibly the most exciting because of its commitment to all local, all organic, and all sustainable. Vendors are closely scrutinized before being admitted to selling at this venue because those who come to this feria are expecting a level of quality that is worth a premium.

 

Health conscious people who tend to their bodies like sacred temples are likely to find whatever they need at this market. From organic foods to traditional local tinctures and other holistic remedies, this feria is a plethora of local artisans featuring their life’s work in the form of lovingly made food, medicine and art. 

 

Huge rows of small vendors tables are filled with so many exciting and delicious looking things that it can be easy to get distracted. This market is one you’re going to want to walk around a couple of times before committing to buying anything because the selections are unbelievable. Amazing looking and healthy treats are amply abundant. And as always, the artisans are waiting to share their passion with you, so take your time and learn something new from the experts.

 

What you can find at the Dominical Eco Feria: (all local and organic) healing teas, gluten and sugar free cakes, CBD chocolate, huge varieties of hot sauces, chemical-free detergents, aromatherapy, alternative medicines, hot and fresh foods, souvenirs, leather belts and bags, yoga clothing.

 

Other ferias in the area

 

 

 

 

It may not be everyone’s first instinct to care about where their food and goods come from. But seeing the passion that goes into a farmer’s or craftsperson’s work and hearing them describe their process is inspiring in a way that can make anyone rethink how they view the world. And isn’t the gift of a new, enlightening perspective one of the best that we can share with each other?

 

Send us an email if you want to know any more about our Costa Ballena region or to find out the other top reasons to move to Costa Rica: sales@osatropicalproperties.com

 

Green Living is the Big Reason to Buy Real Estate in Costa Rica Now

May 11, 2023 in Discover Costa Rica, Life in Costa Rica, Tips for Buyers, Real Estate in Costa Rica, Discover Costa Ballena

Costa Rica is a nation that holds over 25% of its land mass in nature reserves and people are increasingly choosing to buy real estate in Costa Rica for its abundance of "green spaces." Current research shows big correlations between the amount of time that we spend in green spaces and our mental health and well-being. And for those of us who want to feel our best, it is natural that Costa Rica's pristine environment beacons us to call it home.

 

“Green space” is an umbrella term used to describe either maintained or unmaintained environmental areas, which can include nature reserves, wilderness environments and urban parks. In urban contexts, green spaces are purposefully designated for their recreational or aesthetic merits. But in the Costa Ballena region of Costa Rica, life organizes itself around green spaces.

 

Global urbanization has reduced our access to and engagement with green spaces, even though there is a good amount of evidence to prove that being in green spaces improves mental health and well-being. Air quality, physical activity, stress and social integration are all important factors in how we feel every day. And in Costa Rica, green spaces are available to everyone, offering the same health benefits to all who take advantage of their surroundings.

 

Environments shape behaviors

 

Recent estimates show that physical inactivity, linked to poor walkability and lack of access to recreational areas, accounts for 3.3% of global deaths. Our regular environments invite different types of possibilities into our lives. Nature invites experiences of physical activity that promote well-being. The more green space there is available, the more likely a person is to engage in physical activity. And physical activity is the great link between green spaces and mental health and well-being.

 

‘Green exercise’ is a term used to express physical exercise in green spaces. People who use the natural environment for green exercise at least once a week have about half the risk of poor mental health compared with those who do not. Each extra weekly green exercise session reduces the risk of poor mental health by a further 6%. Compared with exercising indoors, green settings improve the results of exercise. Even just seeing nature while exercising can dramatically improve results.

 

Mental health and green space

 

Mental health conditions are one of the main causes of the overall disease burden worldwide. The treatment of these conditions is estimated to cost $2 trillion per year globally. Health systems across the world have not yet responded adequately and the gap between the need for treatment and the ability to give treatment. 

 

Green spaces are meant to be a refuge from noise and a place of relaxation. Trees produce oxygen and help filter out harmful air pollution. Bodies of water moderate temperature (blue spaces are as important as green). When looking at real estate in Costa Rica, proximity to the best 'green and blue spaces' is one of the highest priorities for buyers.

 

Individuals living in areas with more green spaces tend to have less mental distress, less anxiety and depression, greater wellbeing and healthier cortisol levels. Large differences are even reported between those who live in very green settings (similar to our real estate in Costa Rica) compared to less green settings. The quantity and quality of nearby green spaces act as buffers for life stresses across all ages and cultures. It is evident that the vast amount of green spaces in Costa Rica has a big influence on why this is consistently chosen as one of the happiest countries to live by locals and expats every year.

 

Nature therapy

 

Nature also benefits our emotional state and our ability to reflect on life problems. As a result, green spaces are often used in therapy.

 

‘Nature therapy’ is an umbrella term for a variety of techniques for improving mental health. Green interventions can include learning wilderness survival skills, gardening, conservation efforts, care farming, eco-therapy, nature-based arts and crafts, and animal-assisted interventions.

 

Nature therapy can enhance things like self-esteem, self-control and decision making for people with behavioral problems. For individuals living with dementia, engaging with green spaces can positively influence their eating and sleeping patterns, fitness and mobility, sense of well-being and their sense of belonging. Stress, agitation, anger, apathy and depression are all improved by spending time in nature.

 

The importance of choosing nature

 

Mental health researchers have proposed the idea that ‘self-selecting’ a greener environment creates an even more positive relationship between spending time in green areas and better health. A desire for better health and actively seeking out a better environment increases the chances of improving mental health. Those who move from a less green to a more green area have been found to show significantly better mental health for years afterward. From our experience with clients who buy real estate in Costa Rica, most continue to feel happy and grateful for their decision to move here many years later.

 

Contact with nature helps us function at our highest levels. People who experience negative moods are more likely to choose natural areas as their favorite places for this reason. Choosing to spend more time in nature can offer more enjoyable experiences than the same amount of time spent in any other environment. The simple exposure to nature is restorative to the mind.

 

The time to make a shift

 

Given the current amount of people suffering from mental ill-health and the global costs, there is a need for people to take elements of their well-being into their own hands. It is becoming increasingly important to incorporate green spaces into our everyday environments. 

 

For the ultimate green space environment, consider our Costa Ballena communities in South Pacific Costa Rica. Those ready to retire to a greener setting find themselves welcomed by a diverse community of international expats who love the local pace of life. And younger entrepreneurs and digital employees are finding that Costa Rica provides a great setting to continue work in a better environment. Great healthcare, wide ranging services and amenities, entertainment and social clubs, and a pure, green environment are all wrapped nicely together into a pura vida package in our beloved Costa Ballena region.

 

Come experience it for yourself and let us know when you are ready to make the shift to a better way of life in Costa Rica.
sales@osatropicalproperties.com

 

July Market Report: Five of Our Most Recent Closings of Costa Rica Real Estate

May 11, 2023

This month's Costa Rica real estate market report for the Costa Ballena region is a detailing five of our most recent home closings. For privacy reasons, we won’t disclose any names or specifics about the property, but we will give you enough information to understand what type of people are buying real estate in Costa Rica today. We’ll also be telling you a bit of a story about each listing so that sellers can understand what makes for a good real estate transaction

 

Of our ten most recent closings, all were for homes. Only 7 of our 29 in office closings on Costa Ballena, Costa Rica real estate in 2019 have been for lots. Suffice it to say that most of the buyers we meet these days are looking for homes.

 

Below is a list of our five most recent house closings and a bit about each deal:

 

Two off-grid homes in Uvita, between $400,000 - $500,000

 

Rebecca Rowntree recently sold a unique two home listing in the hills of Uvita. Each small casita has its own remarkable views -- one of the iconic Whale’s Tail natural cola at Marino Ballena National Park; the other of the towering mountain view of the Talamanca range, high above Uvita. The buyers absolutely fell in love with these views, as well as the unique modern (but not too modern) architecture and decor.

 

This pre-retired couple from Belgium became excited about Costa Rica when visiting the country over the years. They traveled all over and fell in love with the natural beauty and tranquility of the Southern Zone. They plan to rent the homes primarily and alternate their personal enjoyment between the two, during their own extended vacations. They are likely to rent the ocean view home, which will get a much higher return on investment with vacation renters. The off-grid feature also makes this an economical purchase in the long run, saving on the electricity costs of hosting renters

 

Modern homes, especially those with remarkable views, are quick to go off the market. This listing was on the market for less than a year and received a few showings in that time. Each recent showing presented great feedback about the property after the price came down to the right spot between the seller’s wants and the market value. Rebecca believes that her clients paid close to or below replacement cost, which she says made it a great deal for her buyers

 

Great Ojochal mountain view home, between $200,000 - $300,000

 

Rebecca Rowntree’s sellers have had this expansive mountain view home on the hillsides of Ojochal on the market for around three months. In that time, it was an extremely popular showing with the growing market for under $300,000 homes. These under-3 buyers are coming mainly from the US, looking for a holiday home that will make a good real estate investment. Mainly retirees or people wanting to live a simpler life, these buyers are expecting to stretch their US dollars (and sometimes Euros, too) on the peaceful, tropical Pacific Coast.

 

Since our local Costa Rica real estate economy has been growing in the Southern Zone for about two years strong, many of our ocean view listings in places like Ojochal went from around $300,000 two years ago to well over $400,000. That’s not to say that there are not ocean view homes under-4, but there are often reasons why those listings are on the market still today.

 

What there are, though, are great mountain view homes in the Costa Ballena that buyers are falling in love with! The majesty of the green carpeted megaliths coming out of the landscape right near the coast, with their fresh air and abundance of water and wildlife. Imagine waterfalls in your backyard, or a stream burbling close to your home. That is tranquility and so many buyers are yearning for that feeling to be their everyday.

 

These buyers came from Esterillos in the central pacific coast of Costa Rica. They were looking for a milder climate, away from the heat of the beaches and coast. Ojochal’s mountains provide that sweet relief that this retired American couple is looking for.

 

Over four acres of prime development land in Ojochal, between $800,000 - $900,000

 

This property was listed with Osa Tropical Properties’ broker, Kevin Champagne, for a number of years. Although it sold with a home, the buyer was more interested in this spectacular ocean view land in a prime Ojochal location. Sitting right near the infamous luxury hotel, El Castillo, this property can potentially be subdivided and developed into a number of ocean view lots with that same Garza Island view as can be seen from the hotel. This buyer believes that the view might actually be better

 

Although this property will make a great investment for this buyer, that is strictly because she is a visionary. Many people have viewed this home for sale in Costa Rica over the years and yet it remained on the market. The age of the home may have been a big factor in their decision to say no, because this view never failed to impress. What it took for this property to sell was this vision of this brilliant woman from the US, and her agent, Marcia Oro, to see the land for what it’s worth and to imagine a new way to use it and increase its value. We have no doubt that it will be a project worth investing in!

 

Ocean view home in Ojochal, between $300,000 - $400,000

 

One of the last ocean view homes in Ojochal under $400,000, this home sold to a lovely mid-40s Austrian couple. They began traveling to Costa Rica regularly when flights became more direct from their home. Austria is one of a few new European posts that fly direct to Juan Santamaria Airport in San Jose, Costa Rica.

 

In spite of direct flights, this couple is not yet ready to retire, so aside from personal enjoyment for their holidays, they plan to upgrade the home and rent it to vacationers. Thanks to the great location close to beaches and village amenities, as well as the beautiful ocean views, this will likely make a good return on investment

 

Ocean view home in Ojochal, between $300,000 - $400,00

 

Another older home in Ojochal’s first phase of development, this property was formerly used for a popular exotic cuisine restaurant. Long one of the fan favorites in the culinary community of Ojochal, these sellers were ready to try another type of lifestyle after almost 20 years of living and working on the property. In recent years, they built a rental cabin that supplemented their income well during the high season.

 

With all of these bonus factors, it was a wonder why this property was sitting on the market for almost a year and a half. After taking the listing in 2018, Marcia Oro worked to position this property in its best light, showing the strong potential of the location, views, and the bones of the home.

 

This great property was not getting the attention that it deserved sitting in the $500,000 - $600,000 price range, which is a high price point for an older home in our current Ojochal real estate market. Marcia suggested to split the property into two, dividing the property between the older home/restaurant/hotel and the rental cabin. This split led to the quick sale of this wonderful ocean view home. Priced at just under $400k, it fit perfectly into the current buyer's market and was scooped up right away!

 

Want to know more about recent property closings in our local Costa Rica real estate market, let us know and we'll be happy to answer your questions. Contact us at sales@osatropicalproperties.com

 

What's a good property in Costa Rica for an SDIRA investment?

May 11, 2023 in Discover Costa Rica, Discover Costa Ballena, Buying Process, Tips for Buyers, Real Estate in Costa Rica

Buying a property in Costa Rica is one of the newest ways that Americans are investing their self-directed IRAs. They are seeing the value in Costa Rica real estate and they may even want to retire here in the future. But more importantly, they see the value in investing in a home or lot in South Pacific Costa Rica. Just in the last 6 months, we’ve had a number of new clients from the United States buying property in Costa Rica with their SDIRA and we have seen the ins and outs of how they did it and learned about what made them want to invest here in the first place. In this article, we are going to share with you a bit about what we’ve learned.

 

What is an SDIRA?

 

An IRA is a tax protected retirement savings account. The idea is to buy an IRA early, contribute over time, and to let your money sit there and grow. But IRAs are most often invested in expensive bonds or mutual funds with low returns. A self-directed IRA is not necessarily a stock-based investment. Both types of IRAs have tax benefits but with an SDIRA, you will have control over your investment money for your retirement. 

 

There are two types of SDIRAs that you can have: Traditional and Roth. With a Roth IRA, you invest with after-tax dollars. Everything that grows in that account is tax-free at 59.5 years of age.

 

In a traditional IRA, the government will not tax you in the current tax year. Instead, you will theoretically pay a lower tax rate as a retiree with no income. But if you are serious about investing, you will be in a high tax bracket even as a ‘retiree.’ For serious investors, it is better to invest with after-tax dollars in a Roth SDIRA and to let your real estate investment funds grow tax-free moving forward.

 

Rules for all IRA investments

 

An IRA is a retirement savings account. Therefore, if you use it before retirement, you will be fined and taxed on the full amount in your IRA (including your personal contributions to the investment).

 

Your real estate investment is bought through a legal custodian that is your corporation. Every transaction must be paid through the custodian and paid directly through the corporation’s bank account. This includes payment for any repairs, property management fees, taxes, etc.

 

• Whatever the investment is, all returns must go back into the fund
• You cannot invest in immediate family (descendants, ancestors, siblings)
• You cannot invest in your private real estate assets unless you rent them out
• You cannot invest in collectables

 

Is South Pacific Costa Rica a good investment for your SDIRA?

 

Looking to take hold of your financial freedom through earning passive income? South Pacific Costa Rica real estate has performing assets that are perfect for your SDIRA.

 

Since your SDIRA is an investment fund for your retirement, Costa Rica is already an ideal country to consider. Many online and print publications for expats regularly cite Costa Rica as a prime choice for retirement based on a number of factors. High quality health care, low cost of living, friendly locals, great amenities, spectacular views and nature, pleasant climate, fresh air, health food, good services, and stable politics are just a few of the many reasons that thousands of Americans have already chosen Costa Rica for their retirement destination. 

 

But if you are an investor and pre-retirement age, there are just as many reasons to consider Costa Rica for your future and present benefit. Real estate investing is a good form of protection against market volatility. Good properties are a natural hedge against inflation, growing steadily over time. 

 

South Pacific Costa Rica real estate returns are often 2-3x better than traditional US stock market’s returns. The market value of homes in the Costa Ballena has grown by up to 10% in the last year. This is a region popular with single home and condo luxury developers for its striking beauty and burgeoning popularity. We have seen a huge rise in the number of brand new modern homes coming on the local market and a growing number of buyers looking for luxury modern homes in Costa Rica. 

 

Rental income is booming alongside the rise in high-end luxury rental homes in South Pacific Costa Rica. Local property managers are reporting that their high-end clients consistently see returns of 6-8% on their real estate investments. This is a region that is still only growing in popularity with tourists who are already finding that there are not enough accommodations in the high season.

 

What types of properties are good for purchase with an SDIRA?

 

Naturally, properties with a good rental income or good potential rental income are ideal for an SDIRA. In the Costa Ballena, these would be luxury homes with at least three bedrooms, great views and amenities.

 

Another type of property that could be great for an SDIRA would be a commercial property like a hotel, restaurant, or a storage business. These passive income streams can be fruitful with the right staff and business plan, although some properties make far better investments than others.

 

An interesting SDIRA investment that a few buyers have explored successfully is buying a property that can be subdivided. Part of a property would be purchased with an SDIRA and the other part would be purchased through the buyer’s private funds. This means that a property in Costa Rica with two separate homes or two separate home sites can be owned by two different legal entities (the IRA and the person). This would allow for the person to live on one subdivision of the property while the IRA holds title over the other. A number of our buyers have chosen this option because it allows them to enjoy their Costa Rica investment now, before retirement.

 

If you want to know more about using your IRA to invest in Costa Rica real estate, get in touch with an agent on our team. We will be more than happy to answer any questions you have or to refer you to an expert in our extended legal team who has helped other Americans use their IRA to invest in property in Costa Rica. Contact us at sales@osatropicalproperties.com

 

Tax Law Updates on July 1st 2019 Affecting Real Estate in Costa Rica

May 11, 2023 in Real Estate in Costa Rica

As of July 1st, 2019, the government of Costa Rica will be implementing a new tax law that will affect real estate in Costa Rica. Known as the “Law of Strengthening of Public Finances 9635,” this is a new set of taxes set to commence on July 1st of this year. The Ministry of Finance (Hacienda) will increase the number of goods and services that will be taxed with a more encompassing Value Added Tax. The new 13% tax will replace the current Sales Tax (also 13%) with the addition of a number of taxable items.

 

Although our economy in the Costa Ballena is experiencing growth in jobs and local tax revenue, there are other parts of the country that are experiencing low economic growth, especially for such an environmentally progressive nation. National unemployment is currently at around 12% and the fiscal deficit has hit a record 6% of GDP. In anticipation of economic decline, this new tax package was approved by Costa Rica’s congress in 2018.

 

The Costa Rican government has reaffirmed its commitment to continuing with fiscal consolidation. Their aim is to protect against tax evasion, expense contention and improper fiscal governing. In January of 2019, President Alvarado commented that the primary goals of the tax law update is to reactivate the economy. He hopes this will allow for the construction of a fair and more inclusive society that will benefit the well being of all Costa Ricans.

 

The new VAT Tax

 

The new VAT tax will be passed down to the end consumer and will include cost increases to the following goods and services, among others:

 

• Professional services, such as lawyers, engineers, consultants, independent contractors
• All commercial property rentals
• Luxury housing rentals (where the amount exceeds 670,000 colones ($1150) per month)
• High consumption water and electricity (30 cubic meters of water per month or 280 kilowatts/hour usage)

 

Other items that will experience an increase in taxes include:

 

• Flights originating in Costa Rica will have an additional 4% tax on ticket prices.
• Private health services will pay an additional 4%
• Personal insurance will increase by 2%

 

Occupational risk insurance or low income housing insurance will be exempt from any tax increases.

 

Capital Gains Tax in Costa Rica

 

A capital gains tax in Costa Rica will also be implemented on July 1st. If a property in Costa Rica is sold before July 1st, the seller does not pay capital gains tax. If a property is sold after July 1st, tax must be paid on the gains from the sale of the property if it is not the seller's primary residence in Costa Rica. This tax will amount to either 15% of the profit or a one time rate of 2.25% of the total sale value of the property.

 

To be able to apply for the 15% on profit rate for the first sale of the property after July 1st, the seller must demonstrate the acquisition value of the property as compared to the sale value with valid paperwork. This must be registered with INEC (the Institute of Statistics and Census) where they will deduct any improvements and investments made to the property since acquisition.

 

The 2.25% flat rate will be the standard charge added to the total sale value on the first sale after July 1st. After this date, all purchase prices will be recorded to calculate the 15% on capital gains tax in all future instances.

 

Active and inactive corporations

 

Both active and inactive corporations in Costa Rica will have to submit income tax returns. In the case of an inactive corporation, the income tax payable in theory would be zero. However, if the corporation’s shares differ from the value of the assets registered, the Ministry of Finance can declare that corporation as generating an income. In this instance, an inactive corporation may be subject to taxation.

 

It is advisable to adjust the amount of shares in relation to the value of assets in your inactive corporations prior to July 1st. Many inactive corporations have shares with a value of less than $1000, in spite of having hundreds of thousands in real estate assets tied to the corporation.

 

If you have an inactive corporation in Costa Rica that you are using for real estate, you will have to do the following to comply with the updates in Costa Rica’s corporate and tax laws:

 

• Filing a report of shareholders (requires a digital signature)
• Filing monthly tax returns for some corporations, depending on their activity
• Updating the value of the shares of an inactive corporation (i.e. one being used for holding real estate)
• Add 13% VAT onto any services you provide, including the leasing of a property

 

2019 Mid Year Market Report for Costa Ballena: Growth in Sales of Property in Costa Rica

May 11, 2023 in Tips for Sellers, Tips for Buyers, Real Estate in Costa Rica

If you spend any time reading expat message boards about buying property in Costa Rica, you will see a lot of commentary about how important it is to rent first and try it out. This may have been advisable since the global economic recession in 2009. But for the few years prior to that, development in Costa Rica was booming. A huge number of houses in Ojochal were built between 2004 and 2008. After that, investment and development virtually came to a halt for a number of years. This has changed in a big way over the last two years.

 

Commercial development in the Costa Ballena

 

New, modern construction is happening everywhere in our Costa Ballena region. Beautiful ocean view homes in scenic mountainside locations are being built at record pace, with numerous local construction companies and architectural firms cropping up to fill those job orders. These companies and the materials that they use did not exist 10 years ago, showing the swift pace that this region is modernizing.

 

Just in the last year, a number of new stores and restaurants have opened. Ojochal has the newly-built Plaza Tangara (replacing one that burned down in an accidental fire 2 years ago) with a doctor’s office, pharmacy, salon and spa, and the iconic Citrus Restaurant, one of many culinary delights in the international community of Ojochal. The highway side Jucaloa supermarket is also being upgraded to a new larger location behind its current one. And the Cinco Ventanas plaza is about to get a revival, including the reopening of the gas station, which is incredibly exciting for the local community.

 

The Costa Ballena's commercial hub, Uvita, is currently witnessing a substantial upgrade to its BM supermarket. This nationwide chain supermarket already stocks many imported items and will likely see expansion of that list. And the long-standing Pacific Pool business is moving to a new standalone location with a massive showroom, showing that business must be going well.

 

One of the biggest pieces of recent local news is that Walmart is coming to the second biggest city in Costa Rica: San Isidro de El General, also known as Perez Zeledon. The Costa Ballena is about a 40 minutes drive from Perez and there is much excitement about this store opening. The opening of this store will likely pave the way for more big box stores to open in this already large city. Perez Zeledon is also the likely site for a future international airport, which will open our beloved South Pacific communities even more to the rest of the world.

 

Furnishing a new home in our region

 

When it comes to furnishing a new home, buyers used to either import furniture (often at great cost and with little success of the furniture surviving this climate) or traveling to San José. The capital of Costa Rica has long had most of the quality items that expats expect, but it also used to be the only place in Costa Rica where you could find many items. This 3 hour drive from the Costa Ballena used to take 4-5 hours only 10 years ago, which was a lot of time to spend driving for just shopping. It also used to be difficult to find a moving company that would bring items from the city to our region. Thankfully, this is no longer the case.

 

Bodegon de Asia is one new furniture store near Jacó (less than a 2 hour drive away) and it is huge. They recently expanded to 10x their original size and deliver to our area. Riviera Home Center is another notable furniture store in Jacó. It has a small showroom but a huge warehouse that they will take you to and many catalogs to shop through. Basically, you can find any shape, size, material, quality and color you want. The famous Sarchi furniture manufacturers have also opened a location in Jaco so you don’t have to drive to Sarchi to bring their iconic pieces into your home.

 

And when it comes to shopping in San José, the company Varma will deliver everything you need to our region. Just give them your receipts and they’ll go to any number of stores to pick up the items you purchased and deliver them to your door.

 

Increases in investment

 

New roads are being planned for many local communities in the Costa Ballena. These new roads will cut the driving distance to the highway from 20 minutes to 5 minutes in some instances and making for smoother, safer drives. Dominical, Uvita and Ojochal have all had significant portions of their main roads paved in the last 2 years, welcoming more traffic to each of these communities.

 

All of the above indicators point to a surge in new construction and refurbishing old construction. This means that investment in Costa Rica is growing and this is reflective of our Costa Ballena region. For these and many other reasons, we suggest to potential buyers that maybe they don’t rent for a year. Instead, we recommend that potential buyers travel around the different regions of Costa Rica and to pick the community that inspires them the most. Our buyers have often traveled most regions of Costa Rica before visiting here and immediately falling in love. This is a dramatically beautiful region where the mountains meet the sea, with pristine coastlines and wild, unpopulated beaches that are absolutely breathtaking. 

 

Renting long term is not ideal in a rising price market and this is where we are finding ourselves today with many prospects for continued growth. But when it comes to those who use their Costa Rica property for income while they are away, local property managers are reporting that there are often more short-term renters than there are rentals, especially during the high season between December and April. Luxury vacation rentals in Costa Ballena with spectacular ocean views and amenities are rented at least 50% of the year, according to Christine Schiferl from Jaguar Property Management.

 

Starting around June, we receive a boost in tourism in Costa Rica, with a number of North American and European families using their summer holidays to visit. European businesses often require their employees to take holidays in the summer and many of these visitors will use this time to explore real estate and the possibility of enjoying a Costa Rica property over a longer period of time. With the growing number of airlines and ports opening regular direct flights to and from Costa Rica, the possibility of owning a property in Costa Rica has expanded to more parts of the world.

 

Expanding prospects

 

Now is a great time to jump in and build a new home or buy an existing home while prices are still climbing. It is difficult to predict what the world economies will do in the near future, but for now, in Costa Rica, the trends in real estate are pointing towards growth.

 

Our Osa Tropical properties agents have recently had a number of closings mainly on homes within the $350,000 - $450,000 range. This average range has already grown around $50,000 from this same period last year. We have also had a record number of luxury home closings in our office and in the region in general. Coupled with the huge number of brand new modern homes coming onto the market, we are excited to see much more foreign money coming into the country.

 

Thanks to development in our region, the growing number of expats coming to our region are bringing jobs and growth, which is plainly evident in the housing and commercial improvements being made in our local communities and the upgrades in the cars that local Costa Ricans drive. Thanks to more foreign money coming in, many locals are directly benefitting and hoping for additional growth.

 

Excitingly, despite all of this development, Costa Rica has doubled its forest cover in the last 35 years. Thanks to a change in government regulations, Costa Rica’s priorities shifted from logging to promoting eco-tourism in 1983. These initiatives have led to Costa Rica having 52% forest cover and a wide variety of abundant natural wonders that continue to draw the world to marvel at the beauty and purity of this land.

 

This feeling of inspiration lingers in more than a few people and we are witnessing an increasing pull for many to embrace the pura vida way of life more fully by investing in real estate in Costa Rica. When you are ready, we welcome you to contact us with any questions about real estate or life in general in Costa Rica.

 

The Culture of Environmentalism in Costa Rica

May 11, 2023 in Discover Costa Rica, Life in Costa Rica

Costa Rica has taken on the challenge of leading scientific and technological development within the framework of environmentalism in Costa Rica. Researchers, government institutes and the private sector are all working towards the improvement of the quality of life in general, especially of the most marginalized and vulnerable sectors of society. They are looking for alternative solutions to the problems of balancing environmental sustainability with increasing wealth distribution to local communities.

 

Costa Rica is located between the Caribbean Sea and the Pacific Ocean and is famous for its fresh seafood and its coffee. The population of Costa Rica is of multi-ethnic ancestry, with rich cultural manifestations including dance, legends, string songs, colonial instruments, and traditional songs. Indigenous, European, Afro-Caribbean and Asian influences come together to create a medley of culture, newly blending with Western culture through more recent expat immigration. But environmentalism in Costa Rican is a cultural movement growing in influence, however new it may be in the grand scheme.

 

The culture of environmentalism in Costa Rica

 

This week, Costa Rica inaugurated its 29th national park at Miravalles Volcano in celebration of World Environment Day. President Carlos Alvarado ceremoniously decreed that a protected area in Guanacaste would become Miravalles National Park, further protecting species at risk of extinction, like the Central American tapir.

 

Meanwhile, the Costa Rican government is presently preparing itself to host the preceding meeting to the United Nations Framework Convention on Climate Change (COP25). The main event is set take place in Chile in October. Both meetings serve to “promote the work that Chile and Costa Rica have done for decarbonization, and to consolidate Latin American leadership in the global agenda of Climate Change,” according to the Presidential House. Their collaborative goal is to strengthen actions and solutions in the carbon market.

 

Environmentalism is at the forefront of the everyday Costa Rican's mindset and it permeates culture and politics more every day. One notable organization working on environmental sustainability in Costa Rica is the Simón Bolívar Zoological Park and Botanical Garden in downtown San Jose. They currently have over 100 native species of trees and shrubs planted in the small park. And from 2007 to 2017, the number of avian species increased by nearly 52% to 88 species.

 

Environmentalism in Costa Rica's governmental institutes

 

Costa Rica has also launched the online platform, Costa Rica Silvestre, which is tasked to publish news about ongoing conservation efforts in the country. Working with the Environment and Energy Ministry (MINAE) and the Education Ministry, their goal is to “promote the development of an environmental culture that facilitates the reach of sustainability, adaptation to climate change and the conservation of biodiversity,” according to President Alvarado.

 

MINAE has the goal of improving the quality of life in Costa Rica by promoting conservation and sustainable development. Through this organization, the government works to position itself as internationally competitive and protective of environmental and natural resources.

 

ICE, or the Institute of Energy in Costa Rica, has suspended energy imports in May of this year, and is exporting energy steadily. May 2019 has become the highest month for energy production in Costa Rica’s history. Thanks to successful improvements in the national grid, ICE is able to protect reservoirs in dry periods by increasing geothermal energy production. During the whole of last month, 984.19 gigawatt hours were generated.

 

Since 2015, Costa Rica has exceeded 98% renewable energy usage in the national grid. This trend is being maintained in 2019 in spite of the El Niño phenomenon, and will increase during the rainy season. Nearly 100% of Costa Rica’s energy comes from five renewable sources: water, geothermal energy, sun, wind and biomass.

 

Environmentalism in the Private Sector

 

The private sector is getting involved in environmental sustainability as well. Companies like Café Britt are working to protect Costa Rica’s wildlife. Partnering with the Toucan Rescue Ranch to rescue sloths, Café Britt’s volunteers want to give released animals a better chance to survive by reforesting with native species.

 

In conjunction with environmentalism in Costa Rica, the government is fulfilling its economic goals by attracting successful global corporations to open offices in Costa Rica. Leading software company Wind River is one of the newest businesses to expand operations into Costa Rica’s growing tech sector. Known as the Silicon Valley of Latin America, Wind River is joining over 800 high-tech companies in San José, the capital of Costa Rica. Microsoft, Cisco and others all take advantage of Costa Rica’s free-trade zones, existing infrastructure and a highly literate population.

 

“Wind River’s decision to open an office in Costa Rica was based on its great economic climate and nascent technology sector; it’s also a place where we know our company culture can thrive,” said Jim Douglas, Wind River president and chief executive officer. “Costa Rica has proven to have a deep pool of world-class tech talent, and we’re excited to build a strong foundation there with the high-impact team we have in place.”

 

According to Dick Fowler, the retired owner of the Foreign Investment Group in Costa Rica, manufacturers tend to gravitate to where they can maximize profits. Thanks to new tariffs on Chinese imports in the USA, says Fowler, "Costa Rica is able to export more medical devices, computers, washing machines, cell phones, toys, and more."

 

To learn more about environmentalism in Costa Rica, or what this amazing country has to offer you and how you can make this your future home, contact an agent from our team today at sales@osatropicalproperties.com