Costa Rica Real Estate – Nicoya Peninsula

“Pura Vida” or “Pure Life” is what the Costa Rican people call it.

For those of us who live on the Southern Pacific Coast of the Nicoya Peninsula
we would have to agree. The Nicoya Peninsula is one of Costa Rica’s pristine
best kept secrets!

Where the lush woodland mountains meet the warm waters of the Pacific to the tranquil waters of the Gulf of Nicoya. Uninhabited islands, cascading waterfalls,
tropical forests and jungles, rivers, sandy beaches lined with palm trees and
a wide variety of flora and fauna, whales, dolphins and monkeys all add
to the sunshine and unspoiled star lit nights creating a tropical paradise.

The fishing is excellent year round with some of the best snorkeling, diving
and surfing in Costa Rica. The climate on the Peninsula is very tropical with
more rainfall on the Southern tip throughout the year and temperatures ranging
from the high 60’s during the raining season or winter, to the high 90’s in the
dry season or summer.

The infrastructure of the Peninsula has a lot to offer with shopping in local
stores, (sorry, no shopping malls at the beach yet but they’ll be coming soon!)
Cobano is the center of commerce on the Peninsula for banking, supermarkets, hardware
stores, bookstore, post office, internet services and telephone lines are easily
accessible, medical facilities with doctors, dentists and even a veterinarian
for your pets.

This area is very community oriented while being associated with tourism.
A family could build a life here either part of the year or year round. There
is an English language school in Santa Teresa and the local schools can provide
a cultural diversity that is becoming more and more a goal for many families.

There are more than a few fine restaurants with a diversity of cuisines and hotels on the main road to a secluded beachfront
resort.

For an all inclusive atmosphere, the Playa
Tambor Barcelo Resort offers a disco, casino and nightly entertainment
with Costa Rican cultural dancers.

Playa Tambor has the only fishing pier with fresh fish daily from the local fishermen and an organic vegetable and herb market with specialty items such as organic fruits in season, goat, herb and Italian cheeses, and smoked salmon just to name a few. Playa Tambor offers the only airstrip on the Peninsula with a short 25 minute flight from San Jose.

If you prefer a more scenic route, the roads from San Jose to Puntarenas are paved, in good condition and a beautiful drive through the mountains to the ferry landing. The one hour ferry ride across the Gulf of Nicoya is a wonderful way to ease into the “tranquilo” way of life on the Peninsula.

The Peninsula is growing economically and is attracting more and more tourism
and buyers on a regular basis. An environmental impact study has recently been
completed of the Bahia Ballena or Whale Bay on Playa Tambor for a proposed marina
to be built within two years. With the paving of the main road from the ferry
landing in Paquera to Cobano, we can already see the increase of interest in the
area as well as the potential for increase in property values.

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Depending on the type of property you want to purchase, there are different things to consider regarding zoning or other types of restrictions that may affect the property. For example, if the property is in an environmentally sensitive area such as a nature reserve or mangrove or part of a development or condominium project where some construction restrictions may apply, or beachfront property considered Maritime Zone with a concession or leasehold you purchase from the government.

The Maritime Zone Law regulates the land within the 200 meter zone of the ocean,
which belongs to the government, with some exceptions where title was registered
under Law No. 4558 of April 1970 that granted title within the 200 meter zone
up to the 50 meter point. The first 50 meters from the high tide mark are considered
public areas with very restrictive uses. The next 150 meters are subject to either
titled, concession or leasehold rights granted by the local government with terms
and conditions.

If you’re buying in a remote area and do not plan on living here, you would
want to consider having someone maintain your property. We typically do not see
problems with squatters, but it is better to be safe than sorry.

When purchasing property in Costa Rica there are other things to consider such
as financing, title guarantees, insurance, closing costs and commissions. Financing
is something that is just starting to become available to foreigners.

Occasionally, a property owner may be willing to carry a small mortgage on his property but is rarely the case as cash deals are still preferred.
There are also on rare occasion’s great deals that we come across on foreclosures.
Once you have decided to purchase, the closing transaction can take as little
as 2 weeks to 90 days depending on the status of the property you are buying.

Since the laws do not require residency for foreign investors, at 0.25%
property taxes are extremely low, (taxes are established by law and are determined
by the size, location, value of the property and can be paid annually or quarterly),
buying property on the Peninsula is a good investment in your future.

With the rise of property values in the beach area’s of Tamarindo and Flamingo
on the Northern tip of the Nicoya Peninsula, properties on the Southern tip have
become increasingly more of an interest over the last few years.

The residential community of Los Delfines Golf and Country Club located in Playa
Tambor, offers a nine hole golf course, club house with restaurant and swimming
pool, disco, travel agency and supermarket. This is ideal for those who do
not want to live here full time but want the privacy of their own home with
the added benefits of having your home guarded, maintained and also as an investment
receive an income from possible rentals.

You can purchase an existing 2 or 3 bedroom home with pool on the golf course
starting at around $165,000. A single family home on 5 acres with an ocean view
and pool will cost you $325,000.

If you would prefer to build your own home within a residential community, you
can purchase 2 acre’s with ocean view in the community of Tambor Hills for approximately
$105,000. Their professional team of architects and contractors will assist you
from start to finish, with building costs starting at approximately $70 a square
foot.

There are hotels and B&B’s for sale, beachfront or ocean view, ranging in
price from $175,000 up to $7.8 million. If you’re looking for a commercial business
(we could really use a good bakery) there are restaurants and bars for sale, beachfront
or ocean view starting at $300,000.

So, when you think about “quality of life“, getting away from
the “rat race” of traffic, noise, pollution and stress, living in
peace and harmony with nature, low crime, plenty of fresh air and clean drinking
water, there is no place like the Nicoya Peninsula!

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If you would like to communicate with Penny Layman, our preferred real estate professional in this area, please use the form below:

Andrew Makarik

to@welovecostarica.com

Andrew Makarik is the main editor of WeLoveCostaRica, a fan of this sunny country. He is also a loving husband and a has a lovely daughter. By being a devoted family man and the biggest Costa Rica fan, he wants to make more people feel at home there. WeLoveCostaRica unites people and helps them find new home or a new travel destination. This website is a friendly community where everyone can find not only information, but also new friends and travel pals. Andrew is also passionate about IT and programming, so he himself maintains a friendly atmosphere in this cozy environment of WeLoveCostaRica.com.