As property value in the US rises and millennials have begun to buy houses, savvy retirees and investors are beginning to turn their sights towards prime real estate in another region: Costa Rica.

Why? A fair price in Costa Rica is a bargain by US standards. Those who have property in the US are able to sell, buy property in Costa Rica, and in some cases still have enough money left over to support themselves. Others who would be unable to buy property in the US are opting to buy cheaper land and housing in Costa Rica.

“Costa Rica’s cost of living is lower than in the United States. This includes everything from buying property, to paying for maintenance costs, to paying property taxes. Buyers with limited funds just cannot get the same amount of land or amenities in the United States as in Costa Rica. In fact, United States property owners are taking advantage of the housing turnaround by increasing their asking prices, while Costa Rica property owners are slashing theirs. Savvy investors should take advantage now while the prices are so low.” [1]

Costa Rica is also approaching carbon neutrality, which means everything from taxes to the electricity bill will likely be less affected by the oil crisis. The government’s stewardship of the environment ensures that the supreme beauty of Costa Rican real estate is here to stay, meaning its value is less likely to go down.

The Globe and Mail names Costa Rica as one of five hotspots for real estate investment. “Exports remain strong, tourism numbers are at record levels while the country has one of the highest levels of foreign direct investment per capita in Latin America. Historically, Costa Rica has been a profitable real estate investment.” [2]

Furthermore, buying real estate in Costa Rica is simple compared to doing so in many other countries. “It is relatively easy to buy property in Costa Rica with a simple tourist visa. Many foreign investors set up a private business or corporation, as there is a lot of commercial freedom and protection with this method. It is even possible to establish a corporation in Costa Rica without having to obtain legal residency or citizenship,” The Globe and Mail says. [2]

But all of these financial reasons are cursory when you arrive in Costa Rica. The beauty of this land is striking, and its people are open-hearted. If there’s any reason to buy real estate in Costa Rica, it’s because you’ll fall in love with it when you get here.