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What makes Costa Rica unique is that the investors are truly international, with buyers and developers from around the globe - Canada, U.S.A., Mexico, Argentina, Israel, France, Switzerland, Germany, Italy, England, Scotland, the Netherlands and more recently, even Eastern Europe. Re/Max Ocean Surf's clientele is very cosmopolitan. One retired couple who originate in Europe and live in Miami, purchased a condominium in Dubrovnik, Croatia just before investing in their two preconstruction condominiums in Playa Penca. Another family from Canada who live in Florida, just remodeled their new home in Budapest, and will be wintering in their beachfront golf resort condominium five minutes from the Country Day school.

Several landmark events have legitimized Costa Rica in the minds of serious developers and investors. First, was the opening of the Daniel Oduber International Airport in Liberia to regularly scheduled overseas flights in December 2002. This provided the North Pacific Coast of Costa Rica with Global Accessability. Weekly direct flights from North America and Europe went from two to forty-two in the span of two years, and arrivals have far exceeded expectations

The legal system allows for several specific corporate entities from which to choose. The two most attractive and commonly used forms are the Sociedad Anonima, generally abbreviated S.A., and a less elaborate form of the first, called Sociedad de Responsabilidad Limitada, known as S.R.L. or Ltda.

The Costa Rican government hired a French company to perform a study to estimate passenger arrivals at Liberia. The study, completed last year, projected 300,000 passenger arrivals by the year 2020. However, it turns out the French company severely underestimated the draw of beautiful and peaceful Costa Rica . . . approximately 310,000 passengers traveled through the Liberia airport in 2005 alone!

Second, one of the world?s most sophisticated hoteliers, The Four Seasons, chose this spectacular coast as the location for their hotel which opened in 2003. The success of the Four Seasons put the stamp of approval on the area for luxury investors and clients alike.

Third, the Marriott announced in September 2005 that it would be launching a J.W. Marriott, their luxury brand, just south of Tamarindo. Presently a number of other internationally recognized five star hotels are also in advanced negotiations to open in the Tamarindo/Flamingo area. Thus, the stretch of coast between The Four Seasons and Tamarindo is quickly becoming known to investors as the Costa Rican Riviera.

Although road conditions are generally not up to North American and European standards, the North Pacific Coast has experienced rapid growth in infrastructure to service the flood of investors. Liberia recently added two malls, several theatres (the first on the coast), cement plants, a Do IT building center, car rental agencies, and restaurants. Construction of a new Holiday Inn is underway near the Daniel Oduber Airport to accommodate passengers, and plans for a luxury private hospital are also in the works.

We at Re/Max Ocean Surf work with only the most respected professionals in Costa Rica, and due to the improvement in infrastructure, our investors no longer have to travel to the capital in order to receive quality legal and accounting services. For instance, the prominent international accounting firm, Deloittes , has opened an office in Liberia, and many prestigious San Jose law firms, such as Cordero & Cordero , are also opening satellite offices along the coast. Please ask us how to contact and arrange meetings with these and other specialists.

Commercial development in Costa Rica has matured over the last three years. Previously, with the exception of some large resorts, development was characterized by inexpensive land, less sophisticated construction such as basic condos and rustic cabinas, and underfinanced small developers. As the saying goes in Costa Rica, many were trying to make hot chocolate without enough cocoa. However, experienced developers from around the world have recently entered the market and are purchasing tracts of land priced from USD$2 - $40 million, depending on size, proximity to the beach, and quality of ocean views.

These developers recognize the importance of condominiums and townhomes to resort development in world-class destinations such as Hawaii, Florida, California, the Caribbean, Southern Europe and Mexico. Moreover, North America is experiencing a shift from the First home market to the Second home market. Research by the National Association of Realtors (news story) concluded that the Second home market will be a strong element in the global economy over the next several years. Though some buyers will always prefer a private, detached home, the vast majority of Second home buyers prefer condos because of ease of ownership and opportunity for rental income.

Re/Max Ocean Surf specializes in deluxe and luxury condominiums and townhomes and has an excellent inventory of high-end product. However, all our clients are important to us and receive the same level of service regardless of their budget or preference. Buyers need to be particularly selective in the budget market. Therefore, we have researched the builders, floor plans, location, payment and escrow structure of the area?s budget market, and will only recommend and include in our database the best of these projects. If a condo or project comes to your attention that is not in our database, we will be happy to research it on your behalf, and as in other markets, if you decide to go ahead with the purchase, your Re/Max professional will represent you.

Re/Max Ocean Surf, recognizing the importance of the condominium market, has established a professional vacation rental and property management office. We are pleased to provide vacation rental services to our clients seeking real estate services in Costa Rica. Feel free to give us a call and we'll help you find just the right Costa Rica vacation rental in the perfect place so you get the most from your vacation and property hunting visit.

Contrary to what some may tell you, Costa Rica still has no official multiple listing service or MLS. Re/max Ocean Surf in Tamarindo is the flagship office of the expert real estate network The Ocean Group, and we have thus established our own internal service to link investors with the office, agent and property most suited to their needs. My team of Costa Rica real estate professionals serves four locations long the Costa Rican Riviera, as well as Quepos/Dominical and the Central Valley. We will assist you with every step in locating, valuating and purchasing your ideal investment.

If you would like more detailed information about investing in Costa Rica real estate or development property, please contact me directly at csimmons@racsa.co.cr. I have thirty years business experience as a Chartered Accountant, investor and builder in Britain and Canada, and fifteen years experience in Costa Rica. I would be more than happy to arrange a teleconference with you and/or your investors. I look forward to hearing from you.

Chris Simmons