The Costa Rica Real Estate Expert

Best valued development in the Central Pacific Reserve your lot today - send a reservation inquiry below.

From $30,000 Certified Green Worldwide

Project Updates May 3, 2008 - The Phase 1 Master Plan map was just released and is now available for download (see below).  Finalized price list to follow within the next month.  Reservations being accepted.  Fill out the inquiry form below for more details on reservations. May 18, 3008 - The file for the Phase 1 Master Plan map was minimized to make downloading easier.   Location 10 minutes from the city of Puntarenas in the Central Pacific region   Pictures/Slideshow Local Sights/Activities Minutes from the historic city of Puntarenas, port for major cruise lines Close to numerous surf spots About 25 minutes from the popular tourist town of Jaco Beach Take a catamaran cruist to Isla Tortuga from Puntarenas The maritime museum, Museo Historico Maritimo, in Puntarenas Parque Marina Del Pacifico aquarium in Puntarenas   Master Plan Download the Phase 1 Master Plan Map for Las Colinas de Miramar (right-click, and select “Save Target As”).  Current as of May 18, 2008.   Related Resources Costa Rica Real Estate FAQ Costa Rica Real Estate Financing Options   Real Estate Professionals Real estate agents, investors, and other real estate professionals can earn up to 5% co-broke fee.  Please inquire below for more information.   Inquire About This Property Las Colinas de Miramar Inquiry Your Name (required) Email (valid email required) Phone How would you prefer we contact you? PhoneEmail What's the best time to contact you? MorningAfternoon EveningOther Would you like information on reserving a lot? Yes No Message cforms contact form by delicious:days

Description Imagine yourself and your loved ones standing atop your own private paradise.Imagine yourself and your loved ones among the verdant fields and colorful flowers of your own special Garden of Eden. Imagine being lost in the tranquility, romance and splendor of endless sunsets aglow with the brilliant light of nature’s prism. Imagine The Hills of Miramar. Nestled among the foothills of the Cordillera de Tilaran near the Central Pacific coast of beautiful Costa Rica, the Hills of Miramar is a “Certified Green” Master Planned Community of 185 custom, fully improved home sites. Set among 1,200 green acres, the Hills of Miramar (Las Colinas de Miramar) will feature over 100 home sites of 1.25 acres each. All home sites will be fully improved with roads, water, electric, cable and sewer. All will have direct access to the Pan American Highway near the quaint, historic town of Puntarenas. The entrance to the Hills of Miramar is only minutes to the new Caldera Highway - a direct 45 minute drive from the Pacific Coast to the bustling capital city of San Jose. Most of our home sites offer sweeping, panoramic views of the Pacific Ocean, the Gulf of Nicoya and the Nicoya Peninsula. All of our home sites feature magnificent pastoral views of rolling green pastures and forests. All home sites are fully titled - fee simple. You own it! What’s more title insurance is available from Stewart Title - one of the world’s largest title insurance companies. The Hills of Miramar has been awarded the coveted “Certified Green Worldwide” designation. This honor is given to those communities that conform to the twelve point environmental protocol of the Certified Green initiative ensuring environmentally safe development. The Hills of Miramar features - Outstanding, panoramic ocean views; Over 100 Custom Home Sites of 1.25 acres each; Fully improved home sites complete with roads, water, electric, cable and sewer; All home sites have direct access to the Pan American Highway and are only minutes to the new Caldera Highway to San Jose; The Hills of Miramar is located in one of the most emerging areas of Costa Rica; The Hills of Miramar has received the Certified Green Worldwide designation for responsible development; All home sites are priced competitively for maximum future appreciation. Home sites start at only $30,000. You can build right away or whenever you’d like.   Community Amenities Pools Basketball court Commercial/retail center Equestrian stables Gated front entrances   Preferred Builders TBD, though you can choose your own!   Home Plans/Floor Plans Coming soon…  You do have a choice of building a home using your own plans or homebuilder (some restrictions may apply).   Price/Pricing Phase 1:1.25 acre lots starting at $30,000. Same sized, ocean view lots starting at $60,000   Financing Financing available.  Please fill out the inquiry form on this page for more information.   Rent/Property Management Property management will be made available as the community becomes more developed.  For more information please fill out the inquiry form on this page.

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If any of you have ever even remotely considered or inquired into real estate in the Central Pacific - especially around Jaco - then you most probably have been told by one or several people about the Caldera Highway.

Now, they may not have called it the Caldera Highway, but I’m sure that they talked of a new highway that was being built that would shorten the drive from San Jose by half - going from about a 2 1/2 hour drive down to a 1 hour drive.

Sound familiar?

Then you may have also heard about how it has been years since this highway was started, and the local joke was that “yes, the highway will be finished - someday.”

Well in case you hadn’t heard, thankfully it appears as if the wait is coming to an end.  After what appeared to be years, the residents and investors of Costa Rica were fed up and put pressure on the government to “finish the Caldera, or stop promising it.”

The result has been for the government to put their foot down and set some strict rules with the contractor.  Now, the contractor has a strict deadline which they must meet, or suffer strict fines.

And that deadline?  About 2 years from now.

Well, better late than never…

Will it be like this..

or this.. 

Just jokes!  I’m confident it will be great when completed.

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Colinas Del Coyolar is one of my investment picks, and it doesn’t disappoint!  I recently received some preliminary rental rates and Colinas appears to have a lot of great investment potential, as well as being in an excellent location (6 minutes from the beach, 40 minutes from the international airport at Liberia, as well as close to a variety of national parks and other popular sites).

You can download my investment analysis (see below) and play around with it using your own preferences (lot, home plan, financing, etc.) to evaluate how Colinas Del Coyolar works for you as an investment.

And one final note:  this spreadsheet does try to use accurate and reliable information, but it is subject to change at any time.  In some cases, assumptions have also been made (typically noted in the comments).  Please use this spreadsheet as just one of the tools you would use to help you make a decision as to whether you wish to buy a lot and build at Colinas Del Coyolar.

Find out more about Colinas Del Coyolar.

Inquire about Colinas Del Coyolar.

DOWNLOAD Colinas Del Coyolar Rental Analysis NOW!

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Being a real estate investor, I am always curious as to the investment potential that each property holds.  A property can sound amazing, have an abundance of amenities, be in a great location, but I won’t feel comfortable parting with any money until I have some actual numbers in front of me, allowing me to evaluate the income potential.  And of course, I wouldn’t expect my clients to want any less.

So, I finally was able to assemble the information that I needed to perform my analysis on the fantastic Naturalia condo development near Tamarindo in the coastal Guanacate region - rental rates, management fees, property taxes, and unit prices.

Do be aware that some numbers are averaged, like property taxes and HOA fees (condo fees).  I have included comments within the spreadsheet which you should be sure to read, as they often provide information as to how I came up with certain numbers.  But if you do have questions about these number, please feel free to contact me.

And one final note:  this spreadsheet does try to use accurate and reliable information, but it is subject to change at any time.  In some cases, assumptions have also been made (typically noted in the comments).  Please use this spreadsheet as just one of the tools you would use to help you make a decision as to whether you wish to buy a unit at Naturalia.

Find out more about Naturalia.

Inquire about Naturalia.

DOWNLOAD Naturalia Rental Analysis NOW!

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Last updated February 12, 2008

1. Where is Jaco located?
2. How do I get to Jaco?
3. Where can I stay in Jaco?
4. What is there to do in Jaco?
5. Is Jaco overdeveloped?
6. Is Jaco safe?
7. Are there grocery stores, banks, and pharmacies in Jaco?
8. Are there medical facilities in Jaco?
9. What schools are in Jaco?
10. How do I get around in Jaco?
11. Can I rent a car in Jaco?

1.  Jaco is located about 2 hours southwest of San Jose.  Jaco is the closest beach town to Costa Rica’s capital city, which explains its popularity with tourists who fly into San Jose’s Juan Santamaria International airport, and also people who live in San Jose who want to go to the beach for the weekend.

Currently there is a new road being worked on between San Jose and Jaco which when completed, will cut the drive time in half between the two locales.

2.  For foreign travelers, the best way to get to Jaco is to fly into San Jose’s Juan Santamaria International airport and hire a van or shuttle to transport them to San Jose.  You can rent a vehicle to do the drive yourself, but it is recommended that first time visitors take a transport instead as the drive is quite windy and through the mountains - a little intimidating if you haven’t gone this route before.

There is also a small domestic airport located in Quepos about 1 hour south of Jaco.  You can take a domestic airline, like NatureAir, and fly to Quepos, then drive the 1 hour to Jaco.  In addition, helicopter flights are available between San Jose and Jaco.

3.  Jaco has numerous hotels, like the Best Western, the stunning Doce Lunas just outside of the town limits, and condos that you can rent like Bahia Azul, Bahia Encantada, or La Paloma Blanca.  Inquire for more information on condo rentals in Jaco.

4.  Lots!  Shopping at the many shops along the main drag in town.  Dining at the many restaurants in town with cuisine ranging from sushi to pizza to more traditional Tico cuisine.

Jaco is a beach town, and it shows!  There are numerous surf shops where you can purchase surf lessons or rent a board.  Or take the more relaxing route and just lay on the beach and listen to the breaking waves.

The nightlife is also active in Jaco.  There are numerous bars and dance clubs along the main drag, usually walking distance from the major hotels and condos.  There are also casinos in Jaco, as gambling is legal in Costa Rica.

Also along the main drag in Jaco, you’ll find numerous tour operators offering zip line canopy tours, visits to a butterfly farm, trips down to Manuel Antonio National Park (a must for all visitors), fishing expeditions, scuba diving trips, and so much more!

5.  Jaco is a small town, with a population of 7,800 (according to 2006 census).  In the past few years, there has been an explosion of development of growth in Jaco, though by no means would North Americans consider it “overdeveloped” - a very relative term.

With the development that Jaco has been experiencing, a cleanup effort has also been going on.  Local developers were kind enough to donate very expensive beach cleaning equipment to continually maintain the cleanliness of the beach by removing large and small debris.  These same developers also paved the main drag through town, which at the beginning of 2007 was just a dirt road.  These efforts have improved the quality of living in Jaco for locals and tourists alike.

6.  Costa Rica in general is safe, as is Jaco.  Still, tourists do tend to be preyed upon by petty thieves, so a good amount of common sense is in order.

However, in addition to common sense, Jaco boasts a Tourist Police force put in place by the Costa Rica Tourism Board, and which works in conjunction with the local police force.  The Tourist Police main goal is to keep tourists safe from crime targeted towards them.  And even better news is that the Tourist Police are working, as it was reported that last year, tourist-related crime decreased by 26%, directly attributed to the Tourist Police.

7.  There are grocery stores, banks (several) and pharmacies (several) located in the town of Jaco, with most of them easily found along the main drag.  They will also accept North American credit cards and ATM cards.

8.  There are several private medical facilities in town which also provide ambulance transport services to larger facilities in San Jose.  Foreigners can use these facilities and it is even possible that they may accept your medical insurance.  However, out-of-pocket costs are considerably less than medical costs that you see in the US, so paying out-of-pocket shouldn’t put you in debt.

9. Costa Rica has an excellent public school system, and also a variety of excellent private schools.  Jaco has several private schools in the area, one being Las Nubes and Falcon International, which have an English and Spanish curriculum.

10.  That depends on where you are staying.  If you are in one of the many hotels or condos along the main drag, you can easily walk to anywhere you need to go in Jaco.  There are also numerous taxis in town which are quite inexpensive, though there are no consistent taxi rates in town.

11.  Yes.  National Car Rental, Advantage Rent a Car, Economy Rent a Car and Europcar are all car rental companies in Jaco.  And all you need is to be able to provide your driver’s license from your home country.

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Over $60K in equity!

$199,000 $165,000 Just lowered another $34,000!  Price to Sell!

Location Around 20 minutes South of the popular tourist town of Jaco, Puntarenas, Costa Rica.   Pictures/Slideshow   Local Sights/Activities 3 minute walk to Blue Ribbon awarded beach Jaco Beach 20 minutes away Costa Rica’s prized national park, Manuel Antonio, less than an hour away Less than a mile from new commercial center where you’ll find restaurants, shops, and groceries.   Related Resources Costa Rica Real Estate FAQ Costa Rica Real Estate Financing Options   INQUIRE ABOUT THIS PROPERTY Costa Del Sol Property Inquiry Your Name (required) Email (valid email required) Phone How would you prefer we contact you? Phone Email What's the best time to contact you? Morning Afternoon Evening Other Message cforms contact form by delicious:days

Description This is a rare and fantastic opportunity at the fabulous Costa Del Sol community, just 20 minutes south of popular Jaco Beach. It was recently reduced to $165,000 from $199,000, which was already below market!At Costa Del Sol, you’ll find a fantastic community which is perfect for getting to know your neighbor.  Meet up at the pool, plan BBQ’s with your friends, or catch some rays at the beach, just a short walk past the palm trees.  Meet others by starting a tennis club, playing on the community tennis courts. And when you want a little more action, head north towards Jaco for dining, dancing, surfing, or to take in some of the tours. This house is unlived in and has fantastic terracotta tile throughout.  Each bedroom has its own bathroom, finished with granite countertops and a tile & glass shower surround. The kitchen has hardwood cabinetry and also granite countertops.  The adjacent dining and living room make for a perfect atmosphere for entertaining, with the fresh ocean breeze flowing in through the patio doors. From the roomy dining and living rooms, 2 sets of patio doors lead you out to the backyard.  It currently has a grass lawn, but it is large enough for a pool.  Or grow a lush, tropical garden that you can escape to. Full furnishing packages can be provided for about 10% the cost of the home.  Contact us for more details. Other homes in the community are selling in the $260’s, so this is a fantastic deal that won’t last!  Contact me TODAY so we can get you over to see the property.  And don’t forget our full service travel agents who can assist you in your travel needs!   Property/Unit Amenities Lot #34 Bedrooms:  2 Bathrooms:  2 1/2 Square Feet:  1366 under air Terracotta tile throughout the house Solid wood doors and cabinets Granite countertops in kitchen and bathrooms Tile and glass shower in master bathrooms Plenty of natural light from numerous windows Large patio doors opening to back yard with grass lawn. Washer/dryer hookup in linen closet 2 car carport Lot Sq Ft:  5403 Furnishing packages available for about 10% of the property cost   Community Amenities Gated front entrance Pool BBQ area with granite prep station in open air pavilion.  Located by pool. Tennis courts 3 minute walk to Blue Ribbon beach Lush landscaping   Floor Plan This home in Costa Del Sol is the Marquis model.Costa Del Sol’s Marquis Model Floor Plan   Price JUST REDUCED AGAIN!  $199,000 $165,000   Financing Costa Rica Real Estate Financing OptionsContact us for referrals to loan providers in your area - Canada, US, Europe, or Costa Rica!Typical financing: Note:  These numbers are estimates only.  It is recommended that you get an accurate quote from a loan provider. Price:  $165,000 25% down:  $41,250 Interest Rate:  8.25 Term of Loan:  25 years Monthly Loan Payment:  $975.71 DOWNLOAD Loan Calculator for Costa Del Sol Home - Lot 34   Rent/Property Management Available.  For more information please contact us.

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Even though Costa Rica is a small country - about the size of West Virginia, or 1/10 the size of Alberta - it is still quite diverse offering up a variety of landscape and climates.  There are beaches, rainforests, mountains, and 2 coasts very different from each other.  This makes the number of different options for places to live quite numerous.

Though the majority of foreigners who are looking to buy real estate in Costa Rica are interested in Pacific beachfront or “beach-close” (my own term, indicating that a property is a short walk to the beach), there are others who would like something in the mountain areas or even on the Caribbean side of the country.  Some people are looking for an investment or vacation/investment, while others don’t wish to rent out their property and instead plan on retiring there full or part time.  Whatever you are looking for in Costa Rica, there are definitely certain properties that lend themselves better to certain uses or situations.

For those of you that are concerned about the value of your Costa Rican home - more specifically about appreciation - there is no need for concern.  With annual appreciation rates of foreign-owned homes, in the range of 10-30%+ (highest in the coastal areas), you can rest assured that your Costa Rica real estate purchase will experience healthy appreciation, wherever or whatever you buy.

So, the first step in starting your property search is to sit down with any other decision makers (spouse, investment partner, etc.) and make a list of the following things:

1. Location - do you want beachfront, “beach-close”, mountain property?  Is there a specific city, town, or region you are interested in?
2. Usage - how do you intend on using your Costa Rica property?  Investment?  Vacation?  Retirement?  A combination of any of these?  Or maybe you even want to move to Costa Rica full time?  Are you okay with renting the property when you aren’t there?
3. Budget - Just like anywhere, property values vary from region to region.  Get a good idea in your mind of what your budget will be.
4. Conveniences & activities - How close do you want to be to all the conveniences like shopping, grocery stores, restaurants, etc?  How about proximity to activities or sights like golf, surfing, fishing, or national parks?  Do you want to be in the heart of the activity or in a more private location?
5. Property type - You might be able to get a good deal by building.  Or maybe you prefer a condo?  Looking for a lot to invest in?  Consider your options carefully, but remain as open as possible to as many possibilities.  Of course, if you cringe at the thought of building in another country, or don’t want to be directly next to your neighbors in a condo, just cross that off the list.
6. Property details - How many bedrooms and bathrooms do you need?  What sort of amenities would you like?

Now that you have put together your Costa Rica property “wish list”, fill out our Personalized Property Search form for a specialized property recommendation from one of our Costa Rica real estate specialists.  We’ll review your wish list and recommend a selection of properties that are a best fit for your needs.  And if for some reason we do not have a property that we can recommend (it’s rare, but it happens), we can refer you to one of our affiliates who may have something that would be a fit for you.

One last note - the final step is to go down to Costa Rica and see the properties for yourself.  It is recommended that you not only check out the properties that were recommended to you, but to look at others.  You may be surprised to find that a particular property didn’t appear to be a fit for you on paper, but in reality is perfect when you see it in person.  Give each property a chance, or you might miss out on a gem!

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Negative movements in the exchange rate can drastically increase the cost of property to Canadians 

If you are a Canadian looking to buy property in Costa Rica, you will inevitably need to transfer your currency to US dollars to buy the property or arrange financing.  Canadian buyers should pay close attention to the USD/CAD exchange rate, as volatility in the currency markets can have drastic repercussions on the final Canadian dollar (CAD) cost of an American property priced in US dollars (USD).

For example, a Canadian buyer wants to purchase a property in Costa Rica priced at $300,000 USD.  In the first week of November 2007, it would have cost approximately $271,500 CAD (USD/CAD = .9050).  One month later in December 2007 the same property would have increased in cost due to the exchange rate to $306,000 CAD (USD/CAD = 1.0214).  In other words, the property in one month became $34,500 CAD (over 12%) more expensive to a Canadian!

Currency exchange specialists like HiFX can help you protect against currency fluctuations that would increase the cost of your property by locking in an exchange rate for up to two years with a ‘forward contract’.  This service can be useful if you have a lengthy closing period or future property payments.  With a ‘forward contract’ you will have locked in the cost of the property in CAD and will be unaffected by any volatility in the currency market.  HiFX provides ‘forward contracts’ free of cost and requires only a 10% deposit.

Canadians have amazing purchasing power today

Fortunately for Canadians, now is an attractive time to look for a property in Costa Rica as CAD has strengthened heavily against the USD over the last few years, making property in Costa Rica even less expensive.  On September 20^th, 2007, the Canadian dollar reached parity against the US dollar for the first time since 1976.  This means that Canadians have more purchasing power now than they have in the last 31 years!

If a Canadian buyer was looking to buy a $300,000 USD property in Costa Rica in January 2008 it would cost approximately $300,000 CAD.  If five years ago the Canadian had been looking to buy the same $300,000 USD property, it would have cost them a staggering $485,000 CAD.  In other words, the same property is now $185,000 CAD (almost 40%) cheaper than it was five years ago!

Use a currency specialist to pay for your property

Working with a currency exchange specialist to make property payments can not only save you time and hassle, it can also save you money. The fact is that many individuals will simply use the exchange rate offered by their personal bank. Currency specialists can typically offer more competitive rates of exchange than personal banks, to save you on the cost of your property. The bank may also charge wire transfer fees, commissions, and bank receiving fees. Many individuals don’t realize there are better alternatives available to them.

HiFX has seen an average savings of 1%-4% of the transaction amount for its clients, and in addition will transfer funds free of charge.  On larger transfers the savings can turn into thousands of dollars.  HiFX does not speculate with funds and all funds are held in a secure private client trust account at the Bank of Montreal in Canada.  It may be worth speaking with a consultant at HiFX to register for no cost or obligation.

If you have any questions about the currency exchange rates, or would like to learn more about HiFX fee-free currency exchange services, please contact Thomas Wight.

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