Costa Rica is still a sure bet for a retirement or vacation home

Costa Rica enjoys a stellar international reputation. You rarely hear anything negative or bad mentioned in the foreign press about the country. Tourists continue to flock here and enjoy the countries natural wonders. Tourism is the motor the fuels foreign real estate investment as is does in others places like Hawaii.

The downturn in 2008 did affect foreign investment here since many people from the States had their disposable income reduced drastically . Prior to that date the country was considered one of the 5 best emerging real estate markets in the world. Despite the international financial debacle the local Costa Rican market remained strong and minimally affected.

The good news is that there is now a resurgence in foreign real estate investment. Retirees are starting to purchase properties as are those seeking a second home.

Prices are higher than many expats and investors expect but they reflect the quality of life that can be found here. I had two couples on one of my recent relocation tours (www.liveincostarica.com) who had taken a similar tour in Panama. Both couples agreed that Costa Rica wins hands down when it comes to its beauty and the lifestyle. However, the cost of living is less in Panama and retirees enjoy many discounts that are not available here. But one should not fall into the trap of equating the cost of living with the quality of life. Expats still continue to flock here.

Before moving here almost 40 years ago I lived in the San Francisco Bay area that was and is one of the most desirable areas in the United States. After reading a recent article about the cost of living there, I know I made the right choice by relocating here. The average price of a house is well over one million dollars. Believe me my 2000 square foot home in San Francisco de Heredia is probably worth about 20 percent of what a comparable property in most parts of California.

My point is that those with home equity and living in a desirable part of the States or Canada, can often sell their property, trelocate here, buy a more affordable home and use their left over money to live very well , especially if they have a pension to go along with it.

Costa Rica ranks 4th in the top 30 locations for those of buying a second home. For Canadians Costa Rica ranks third in the same category.

For the median price of a U.S. home (US$240,000), in Costa Rica you can buy: