Shopping for a condo in Costa Rica? Whether as an investment, vacation home, or to relocate full-time, the perfect condo means more than pretty views and balmy breezes. Follow these key steps and tips to assist your search so you get the best condo for your lifestyle, budget, and long-term objectives.
1. Define Your Priorities & Budget Early
Before you start surfing listings, define what you need:
Location: Do you need beachfront, mountain, rainforest, or urban? Regions such as Guanacaste, the Central Pacific (Jacó, Manuel Antonio), or the Central Valley (San José / Escazú / Santa Ana) have different benefits.
Amenities: Shared pools, gym, security, concierge, parking, maintenance. Luxury amenities translate into additional HOA (Homeowners’ Association) or condominium fees.
Use case: Is this a vacation retreat, full-time residence, or rental/investment? Rental potential is very important in touristy areas.
Budget considerations: Purchase price is not the only expense. Include closing costs, taxes, HOA fees, maintenance, utilities, insurance.
2. Do Thorough Legal & Title Due Diligence
There are unique legal issues in Costa Rica that buyers should know about:
Clear title & survey: Ensure the condo holds clear title, no liens or encumbrances, and that boundaries are surveyed correctly. Most properties along the coast or rural areas will have registry or boundary issues.
Maritime Zone (Zona Marítima-Terrestre): If your condo is close to the beach, see if it comes under the maritime zone legislation. Some parts of the coastline land are state property and have rules and restrictions, particularly within 200 meters of the high-water mark. There are limitations for foreigners in certain situations.
Legitimate professionals: Hire a licensed real estate attorney (notary public) and check their reputation. A good attorney will walk you through contracts, title searches, deed registration, and local rule explanations. Agents are useful but make sure you’re covered legally.
3. Work With Reliable Real Estate Agents & Sources
As Costa Rica doesn’t have a centralized MLS system as in the U.S., finding good condos takes extra legwork:
Find agents who are part of established realtor associations (e.g., Costa Rica Global Association of Realtors – CRGAR) and who deal with foreigners.
Search on good platforms and check several sources. Websites such as Encuentra24, local agent websites, listings from individuals who already reside there.
Show up in person (or have someone visit you trust) if you can to check out the property, amenities, noise, infrastructure, and condition. Pics can mislead. Inspect both dry & rainy weather.
4. Know & Review HOA / Condo Association Fees and Regulations
Condos have shared duties; you must know what they are:
HOA/Condo fees: What do they pay for (maintenance, common areas, security, landscaping, pool maintenance, etc.)? Are fees stable or probably to skyrocket?
Rules/regulations: Are short-term rentals vs long-term restricted, pets allowed, renovations permitted, or use of common areas, limited? Is there a homeowners’ association or a condominium board?
Shared amenities condition: Pools, clubhouses, elevators, security systems, parking — check their upkeep, age, how well maintained these are. If amenities are promised but not yet built, you’ll need to consider risks.
5. Check Infrastructure, Utilities & Access
A condo’s location and how well it’s supported will affect your daily life and long-term happiness:
Dependable power, water, sewage, internet, phone.
Very important if you’re remote or in tourist zones.
Road access: Are roads paved? Will you get stranded when it rains? Is there legal access (derecho de vía) to your condo?
Distance to amenities: supermarkets, hospitals, schools, airports. Being remote may be lovely, but convenience counts.
6. Determine Rental & Resale Potential
Even if investment is not your main objective, learning about resale and rental demand is prudent:
Study occupancy levels, rental yields in the area. In areas popular for tourism, returns may be robust but seasonality and competition are important.
Verify rentals legality permission (short-term sites like Airbnb etc.), local regulations, and taxes.
Select properties in areas that are most likely to appreciate: good infrastructure development, increased popularity, stable demand.
FAQ
Q1: Are foreigners allowed to own condos in Costa Rica like locals?
Answer: Yes. Foreigners enjoy the same condo ownership rights as locals unless otherwise specified. All owners, be they nationals or not, must follow the same condominium laws and rules. Exceptions occur primarily with properties along the maritime zone (beachfront or very near the beach), for which special rules exist.
Q2: What is the “Maritime Zone” law and how does it affect condos near the beach?
Answer: The Maritime Terrestrial Zone (“Zona Marítimo-Terrestre”) is the initial 200 meters of land from the line of high tide. The initial 50 meters are public territory, unownable, and the subsequent 150 meters are under more restrictive control. If your property is situated in these zones, it could be subject to concessions or leases as opposed to outright ownership, and there could be use and construction restrictions. It’s important to check this prior to purchasing beachfront condos. malpaisproperties.com
Q3: What are HOA / condo fees generally, and what are they for?
Answer: Fees are highly variable based on location, amenities, size, and luxury status. They may pay for landscaping, security, pool and gym maintenance, elevator maintenance, common lighting, occasionally some utilities. In heavily amenitized condo projects or tourist districts, fees are higher. Be prepared for them to significantly affect your monthly cost of ownership.
Q4: How do I check the condo’s title is clean and the property legal?
Answer: Key steps are: employing a local, qualified real estate attorney or notary to perform a search in the National Registry (Registro Nacional) for liens, encumbrances, chain of ownership; getting a land survey to verify boundaries; reviewing zoning laws; ensuring all permits and whether condo association is correctly registered. Don’t simply take the seller’s or agent’s word.
Q5: What are the under-the-table or continuing costs I should budget?
Answer: In addition to the buying price, you’ll want to budget for:
Closing costs (transfer tax, attorney / notary fees, registration)
HOA / condo fees (monthly or yearly)
Maintenance: wear and tear, particularly in coastal setting (salt, humidity)
Utilities, insurance, property taxes (in Costa Rica, approximately 0.25% per year on declared value typically)
Costs that come with renting out (if that’s your intention): management, furnishing, seasonal marketing
Q6: Do I purchase a new under-construction condo or a completed unit?
Answer: Each has advantages and disadvantages:
New construction can provide current design, finishes you can customize, frequently discounted pricing. But it comes with risk: construction delays, potential hidden expenses, chance that touted amenities or access aren’t finished or take longer.
Completed or used units allow you to check out what you’re purchasing (condition, infrastructure, amenities). You get to observe how HOA plays out in real life, how repair is executed, how utilities and operations function.
If purchasing new, demand documented warranties, stellar developer record, escrow or escrow-style safeguard.
It takes time, research, and good assistance to find the best condo in Costa Rica. Make a list of your non-negotiables, insulate yourself legally, and tour properties when you can. With the proper strategy, you can get a condo that provides lifestyle benefits as well as a sound investment.
