Tamarindo Lifestyle

We have excellent colleagues in the Tamarindo and would be delighted to introduce you to them.

Just email us on info@costaricainvest.ie or give us a call on USA +1-202-697-9284 or Europe +353-1-272-4184 and we'll connect you,

Epic Properties and Opportunities in Costa Rica

Epic Properties and Opportunities in Costa Rica
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Overdue taxes? - if you're a US Citizen you could lose your Passport!

The US Government has continued it's policy of making it more difficult for its citizens to transfer assets and live abroad with the most recent introduction of the Fixing America's Surface Transportation (FAST) Act (H.R. 22).

One provision in the FAST act will let the federal government revoke, deny or limit a U.S. citizen's passport if the person owes more than $50,000 in "seriously delinquent tax debt," including penalties and interest. 

The IRS will use a threshold of $50,000 of unpaid federal taxes. But this $50,000 figure includes penalties and interest. And as everyone knows, interest and penalties can add up fast and this $50,000 level could be reached quite quickly.

What has the FAST Act got to do with passports when its focus is the funding of transportation infrastructure. The answer is nothing, except that the measure is estimated to raise nearly $400 million over a decade.

Also it follows the US Governments policy of "hiding" legislation limiting its citizens abilities to live overseas within unconnected legislation. FACTA (The Foreign Accounts Tax Compliance Act) was hidden within the unrelated HIRE act (Read more about FACTA here, here and here).

It is better for the US Economy if US Citizens keep their assets within the US Economy rather than investing elsewhere around the world. The US Government has implemented a strategy of disincentivizing and frightening citizens from investing, living and owning property outside of the US.

The implementation of the FAST act, which comes into action in January 2016, is another step of this policy.

The likelihood is that the US Government will continue to implement more disincentives, over the coming months and years.

Our advice to US Citizens remains the same - if you are seriously considering a property purchase in  Costa Rica or elsewhere the time to act is now. The longer you wait the more likely it is to be very difficult if not impossible for you to invest in or own property abroad.

Read more about the FAST Act in Forbes here and on CNN here.

Recovery in Global Real Estate affects Property Prices in Costa Rica

Global real estate prices are recovering and this is having a strong effect on property prices throughout Costa Rica.

 

The Economist reports a year on year growth of house prices of 12.1% across to USA to the end of the second quarter of 2013.

Further they report that "the recovery still appears to be sound, since prices remain undervalued against income"

 

Read the full report here.

Knight Frank, in its Global House Price Index Report for the second quarter 2013, reports that worldwide house prices rose 2.4% for the quarter and that "the US housing market recovery appears to be on firmer ground"

The report is available for download here.

As property markets have recovered worldwide more and more buyers are looking at Costa Rica for both holiday homes and investments. This is pushing up real estate prices in Costa Rica and a number of recent articles reflect these increases:

 

http://thecostaricanews.com/central-america-real-estate-the-time-is-now/16680

http://www.prweb.com/releases/2013/9/prweb11119277.htm

http://news.co.cr/foreign-investors-stimulate-real-estate-market-in-costa-rica/22993/

This increased demand is resulting in more development. For example some recently announced developements are covered in the National newspapers here and here

And don't forget for US clients the implementation of the HIRE Act may make it more difficult and more expensive to get funds out of the US.

So if you are seriously considering a purchase in Costa Rica the time to act is now.

 

The offices in Quepos and Manuel Antonio can assist with your Central Pacific requirements. The San Jose office with your Central Valley requirements.

And of course Naturewalk is ideal for clients seeking a home and income in Costa Rica.

The "fly and buy" programs are worth up to US$2,000 to you.

To find out more about these and for assistance with your property requirements just call  USA +1-866-990-1123 (toll free) or Europe +353-1-272-4184 or e mail info@costaricainvest.ie

Costa Rica

Fly, Buy and Save

Fly & Buy Rebate

Worth up to US$2,000

How does it work?

• Sign a buyers representation agreeement in advance of travelling to Costa Rica and



• Travel to Costa Rica before the end of Feburary 2013 and



• If you contract to buy any of our listings* from any of our Costa Rica offices** whilst you are in Costa Rica we will give you a rebate of 1% of the purchase price up to a maximum of US$2,000 at closing

Why sign a buyers representation agreement?

• Click here to see nine good reasons to have a buyers representation agreement in place before you visit Costa Rica

Where can I see a copy of the buyers representation agreement?

* we mean any of our listings, that includes exclusive listings, non exclusive listings and co-broker listings - so you can pick from hundreds and hundreds and hundreds of listings.
**this includes all of our Quepos Office listings, San Jose Office Listings and all NatureWalk developments