August 9, 2011 - Costa Rica has a long history of being a great place for people to retire in a comfortable setting that includes excellent weather, low cost of living and bargain properties in Costa Rica but in the past few years, people are being skeptical about whether this is still true.
The main reason behind these allegations is because of the current price of real estate in Costa Rica and the current global economy.
In the last couple of days, the DOW Jones has been taking a hit which concerns many in Costa Rica due to its close ties to the United States.
Yes, other countries like Panama, Nicaragua and Honduras are able to boast that they have lower taxes than Costa Rica and more attractive packages for foreigners wanting to live in their country. However, the infrastructure of Costa Rica is more developed than Nicaragua and Honduras which means less power outage and more reliable utility services.
In terms of cheapness, Panama certainly has many advantages over Costa Rica but one thing it does not have is the Costa Rica weather as Panama is hot and humid year round.
So before you scratch Costa Rica as one of your top places to retire to let’s go over the facts. Yes, the price of real estate has substantially increased from 20 and even 10 years ago but generally speaking, the cost per square foot in some of the most popular areas of Costa Rica are still at bargain prices.
They are still many great houses and properties for sale in Costa Rica as it is just a matter of looking around. On top of that, the price of real estate in Costa Rica has steadily gone down to make up for the poor global economy.
The cost of living in Costa Rica is still very low in comparison to Europe and the United States. The fact remains that in Costa Rica, you can still live a very comfortable life on just $1,200 a month and that includes rent.
In terms of shopping for food, a family of 3 can easily feed itself on just $400 a month and this includes items that are exported from home.
Public transportation is so inexpensive in Costa Rica that you can use a taxi to go anywhere. The dollar to colones exchange rate is still in favor of the dollar.
The healthcare system in Costa Rica is by far cheaper and more efficient. For less than $50 a month you get full healthcare in Costa Rica. Yes, the healthcare system may involve standing in line for a checkup but when you look at any other country in the world and how much they charge for healthcare, it’s hats off to Costa Rica.
In short, Costa Rica is still the country of choice to retire. Even though it may not save as much money as before, the climate and the people easily make up for it!