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Costa Rica--What is the Catch?

I was browsing online looking at luxury ocean view houses in Costa Rica. Many of them were under a million. I am thinking of buying one but am not sure what the catch is. Why are houses so cheap here? Is there a lot of crime?
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August 29 2010 - US
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Totally overzealous squatters rights? (Literally within 3 months*) Enormous bugs? Unbelievable humidity for a good chunk of the year?

Don't get me wrong, I love Costa Rica and was even married on a beach there. However, be very careful when investing in other countries as their laws are drastically different than the US. There are a lot of scams in central America to abscond with US dollars, and a good chunk involve real estate.

*http://sanjose.usembassy.gov/proprigh.html; http://www.costaricanproperty.net/realty/162/costa-rican-property-rights.html
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August 29 2010
I read a little about the Costa Rica market a couple of years ago. I would suggest you find an international agent or attorney to assist. It was my understanding that you may not actually own the property. I read that the Gov can revoke your land ownership at any time. Definately check it out more.
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August 29 2010
I am not so sure, how it justify for the home price under $1 million when the Costa Rica's GDP is $11,240 US Dollar per capita.

http://en.wikipedia.org/w ... osta_Rica
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August 29 2010
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The catch is that they are in Costa Rica. You are applying American standards to foreign real estate which is dangerous.
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August 29 2010
 
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