A recent article in the June issue of the International Living Magazine  talks about how Costa Rica has become a popular retirement destination.  

It’s true. According to an in-depth investigation by Money magazine, “250,000 Americans are leaving the country for good every year. And millions more are seriously considering it.” Why? To be blunt, many people can no longer afford to retire in the U.S. and keep their lifestyle. Real estate prices, the cost of living, health care coverage costs, and gas and utility bills…are all going through the roof. And the ever-shrinking dollar has just multiplied the pain.
 
But as millions of people are discovering, you can make your goal of a simpler and better life a reality. There are places where you can still own your own town home or beach house outright—and enjoy appreciation of 20%…40%…60% per year…
 
For almost 30 years International Living has scoured the globe to identify real estate markets that offer investors the opportunity for strong returns…
 
Every real estate market has a trend. Identify it, commit to it, ride it upward…and that’s money in the bank. Here at International Living, our track record speaks for itself…
 
In 1984, IL first recommended the southern coast of Spain…in 1987, Acapulco…in 1992, Roatan, Honduras. The value of properties in these locations rose more than 800%.
 
In 1991, International Living recommended the Caribbean island of Ambergris Caye off the coast of Belize. Back then you could have picked up a quarter-acre beachfront lot for $35,000 or less. A decade later, the same lot would have cost you at least $150,000.
 
We called prime oceanview city condos in Panama City a good buy at $120 per square foot in late 2004. Now they sell for $350 per square foot.
 
As you can see, we know what we are doing when we focus on a trend. Which brings me to the point of this report and probably your next question…what countries are we endorsing right now?
 
You might be shocked to find out that we’re betting on Costa Rica right now. And yes, we know this is like telling someone that beachfront property in Southern California is suddenly affordable again.
 
Everyone, including IL, once thought Costa Rica was thoroughly discovered…over-priced…yesterday’s news. That’s why we were astonished to see this country turn things around and get back onto our real estate radar.
 
When the U.S. economy took its recent nosedive, property markets suffered in several Latin American countries. In Costa Rica, however, real estate prices generally remained strong.
 
In March 1997 we took Costa Rica off our recommended list. Twelve years later, in June 2009, Costa Rica back on our list of Top Retirement Havens.
 
Yes, after 12 years off our list of affordable opportunities for profit, IL has discovered that there is an unknown—and still affordable—side to one of the world’s most coveted overseas retirement destinations.

Kaufman is known among the insiders in the financial community as a genius in contrarians investing. During the 1970s downturn in New York City he was the buyer of last resort for Con Edison bonds, which resulted in huge gains. Kaufman was buying Con Edison Bonds at 30 percent of face value when the city was told no help was coming from the federal government to keep the power on in New York. Ultimately the bonds never defaulted, and the returns were in mega millions to Kaufman.

Associates say that Kaufman believes that Costa Rica will become a large market for retirees who want a lifestyle in this country where the weather in the Central Valley is always springtime, similar to that of Southern California.

He also is said to believe the cost of living and medical care, which is up to the world standards in the private hospitals, is only a fraction of the costs compared to the U. S. and Europe, and the 55 and older senior retirement communities, assisted living facilities, and even nursing care will propel the growth of Costa Rica to double digits in gross national product during the next 20 years.

Kaufman wants in on Costa Rica, while the recent economic crisis around the world has opened opportunities that have never existed in the last 10 years of one of the hottest real estate markets in the world, Costa Rica.

Kaufman was the largest shareholder of Apple Bank of New York along with many other holdings which gave him financial control of multi-millions of dollars.  Kaufman also went out and bought 32 percent of downtown Tulsa, Oklahoma, at distress prices starting in 2005.  Tulsa is one of the few cities that has weathered the U.S. real estate crisis and actually has increased in value.  Kaufman purchased buildings in Soho at $30 square foot in the distress times of the 70s and became a legend in value investing when the market climbed to $200 a square foot. These are only some of the great investments that made Kaufman such a successful businessman.

Costa Rica is Kaufman’s latest interest, major news is expected soon.  This is certainly great news and validation for other American investors who are considering Costa Rica as an investment opportunity.  If you are interested in purchasing oceanview or rainforest lots in the Central Pacific Coast of Costa Rica, just minutes from Quepos/Manuel Antonio, El Paraiso Oceanview Properties is a perfect place to consider.  For more information, contact 011-506-8842-0662 or 954-632-3905.

Lets look at why Costa Rica property prices will continue to soar in value:

1. Its an established market
Costa Rica property prices have been soaring for 10 years and it has become a highly mature market. Investment is at record highs and rising and this will continue to drive prices higher.

2. Rewards are high and risk is low
• The major attraction of Costa Rica property is the opportunity to buy property that is   70% less than in the southern US states in a beautiful and stable country.
• Many investors however are thinking well if Costa Rica has taken off, maybe they should buy one of its neighbours like Nicaragua.
• Prices are cheaper so upside will be higher.
• This is totally incorrect. A new emerging market may take off but most don?t, you can buy property cheap but it?s cheap for a reason!
• When buying property you don?t want to buy the cheapest, this is a mugs game.
• You want to buy competitively prized property, with low downside risk and great upside potential and that?s exactly what Costa Rica property offers you.
• If you want double digit annual gains with low downside risk then Costa Rica property can give it to you.

3. It has an established community
If people are looking at buying for investment, second or retirement property, they will look for who else is investing and living in the country from their own nation.
Americans and Canadians in particular come to Costa Rica because the locals are friendly and they have their own community as well, to make them feel at home.

4. Outside Factors? The major one to drive prices
The baby boomers are getting closer to their retirement age and are faced with this scenario:
Many are already seeing Costa Rica as a way to maintain and improve their standard of living and their buying Costa Rica property in increasing numbers.

As the baby boomers start to retire, it will accelerate the upward trend in Costa Rica property prices and this will increase the opportunity for some double digit profits with low risk investments.

If you’re considering a real estate investment in Costa Rica, El Paraiso Oceanview Properites is a must-see.  Just 20 minutes from Quepos/Manuel Antonio, this rainforest and oceanview property provides an excellent investment opportunity either for your retirement or vacation home.  Contact El Paraiso Oceanview Properties at 954-632-3905.

You could be an investor, a retiree or just as a company employee, Costa Rica always offers something attractive for you. It is true that Costa Rica is a country in the developing stage. However, Costa Rica offers and provides the necessary facilities you have or need with a twist you can get used to. Life here, somehow goes slower than in other countries thou not too slow. There is a mixture of relaxation and business, modern but easy way of living that characterizes Costa Rican people. So our advice is to leave all the stress and rush before coming here if you want to really enjoy this tropical country and its customs.

This is a country that embraces foreigners and invites them to come and join our way of living but wants it to be respected. Costa Ricans are friendly, outgoing by nature and love to share what they have with others.

Although we know the importance of progress, we just do not rush it or stress on it. This might get a foreigner stressed at the beginning but with time he ends up getting used to it. That’s why we have our expression “Pura Vida” (Pure Life) that implies “Why worry”, “I am ok as I am”, “l am having fun”,” l’ll be ok” , “l’ll do that tomorrow”.

Here are some good reasons for living in Costa Rica:

• Stable democracy
• Good infrastructure for tourism and exports
• High level of literacy and education
• Nature oriented
• Freedom of speech, beliefs and others
• Equal rights in owning properties for foreigners
• Not many migratory requirements
• No army
• Fiscal exemptions
• Lower cost of living
• Excellent service systems in electricity, health, banking, water and telecommunications.
• Private enterprise support and incentives

If you’re searching for a great place to live in Costa Rica, be sure to check out El Paraiso Oceanview Properties.  We hope to see you soon!  Pura Vida!