What is the purchase of property and uilding regulations like?
Property prices vary from area to area. There is a computerized central registry system similar to North America, and lawyers or others, such as the ARCR, who subscribe to the service can search title from their office computers. Foreign residents and non-residents have the same property ownership rights as citizens, with the exception of leasing land from the municipality and purchasing land close to the frontiers. Registration, taxes and legal fees will be approximately 5.5% of the declared value of the land on purchase. The government has an excellent history of respecting foreign ownership of land. Construction is less costly than usually found in North America. A finished luxury house currently would cost about $65-$75 per sq. ft. to build. (Est. 2002) The contractor is responsible for defects in construction for 5 years. • Are there reliable phone and fax lines, cellular phones, Internet connection and other communications? Costa Rica has a state owned Hydro/telephone Company. Ph
