Costa Rica Real Estate 2023 Digital Howler

March Real Estate feature sponsored

sponsored by:

Lisa Farrell

Trading Paradises

Joseph Emanuelli

Never Looked Back

Roland Tipper

Passion for Travel Leads to Home"

Alain Mouquet

A French Canadian Welcome

Theo Veenstra

It's a Lifestyle

Michael Mills

The Adventures

Continue

Explore our listings:e

Will Mathews

Not a Cliche'

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John B. Quam

executive director - Terry Carlile

account executive

Mary Fernández

Editorial Staff

Debbie Bride - Editorial Coordinator

Laurie Quam - Copy Editor

COVER Photo : Tres Amigos Realty

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Ced. Juridica: 3-101-725213

HOWLER (TM)2021

COVER STORY

Real Estate Opportunities in Costa Rica

• Costa Rica's Real Estate Scene

• Browse all of Howler's RE Articles

• Have You Dreamed of Moving To and Building in Costa Rica?

• Considering the Regions of Costa Rica

• How to Choose a building Lot in Costa Rica

• What Makes It a Good Area to Invest?

• Some Building Budget Factors are Different Here

• Living Where the Air Doesn’t Hurt My Face

• Dream Home By Design

• Building Your Dream in a Greener World

• What is the Procedure to Write an Offer and Close?

Pacifico Lot 135 Villa Toscana

Photo courtesy of Tres Amigos Realty Group

• If Selling or Buying Property in Costa Rica

• Conserving Biodiversity by Design

• Why “In Love With Costa Rica”

• What is the Property Purchasing Process in Costa Rica?

• Buying Real Estate in Costa Rica: FAQs

• Condo for Sale in the Quaint Town of Matapalo, Guanacaste

• See This Home in Matapalo, Guanacaste

Costa Rica’s Real Estate Scene

Read it Here

by Debbie Bride

Costa Rica’s popularity as a relocation destination is nothing new. Tens of thousands of expats from all corners of the world have made themselves at home here in recent decades, permanently or part-time, while foreign investment markets for vacation rental properties have been buoyed by steady tourism growth.

But there’s no question that unprecedented global circumstances over the past two years have had an impact on the real estate scene in Costa Rica. The dynamics are no less vibrant now, but decidedly different, in some exciting ways. Notably, there’s been an uptrend in younger expat home buyers, as well as owners who are here to stay.

That vacation travel to Costa Rica rebounded with the easing of international and local pandemic restrictions was hardly surprising. The country’s full reopening of international borders on November 1, 2020 was pivotal. Never before had people everywhere seemed more motivated and eager to get away from their cooped-up status quo. The usual reasons for North Americans seeking to escape the cold and daily grind were compounded by so much more that had rocked their world in unfathomable ways: from health crises and economic loss to social isolation and divisive politics.

Tropical haven

Meanwhile, everything that has always made Costa Rica so appealing to tourists — as well as a haven to those already owning vacation homes here — was waiting with open arms. Similar deciding factors saw new floodgates of interest in property ownership open up at the same time. Potential foreign buyers included those who might never have otherwise contemplated the notion of buying a piece of pura vida paradise.

Increased acceptance of remote jobs as being a feasible lifestyle choice, not just a lockdown necessity, was hugely influential. Home-centered priorities shifted, with people rethinking the needs and preferences that their living space should best accommodate. What they value in their outdoor surroundings took on added importance too, from seeking a closer connection with nature to growing their own food. Others became more eco-conscious and interested in more sustainable ways of living.

These were the kind of house-hunting incentives that kept realtors in Costa Rica busy hosting visitors — mostly from North America — throughout 2021, even during what is normally the low tourist season.

At the same time, other foreign buyers moved forward with their pre-pandemic intentions, while sellers benefited from the market becoming unstuck. In fact, 2020 had been forecast as the strongest year in a decade. So some of the recent market activity has been about regaining momentum that was derailed for nine months.

Read Up, Don’t Rush

While there is no denying that real estate sales in Costa Rica are currently brisk and the outlook bright, that is never a good reason to rush such an important decision. You’ll find agreement from the various industry experts who have contributed to this special real estate edition of Howler. The same goes for our regular writers of legal advice, both covering real estate topics in this issue.

Take your time, learn and benefit from the knowledge they offer. That’s always advisable, which is why Howler has always been pleased to feature a diverse range of articles relevant to real estate decisions, property ownership and building options. From location factors to lifestyle considerations, we’ve covered it.

So, for the benefit of new readers and others who might want to revisit any of these subjects, we’ve created a list of online article titles starting on page 15 (click on the page to go to online listing)

Fast Market Movement

The second-home real estate market in Costa Rica is extremely active at the moment, according to Coldwell Banker Tamarindo Realty. Time on the market for properties priced at market rate is under one month. Many properties are selling at full asking price before they are published, just by word of mouth between agents. For luxury properties — $1 million and higher — the market is active but not as hot.

Potential buyers interested in touring properties are advised to register your interest with a realtor early enough to stay informed of new listings. Then take your time until finding the right home. When ready to move forward, be prepared to present an offer immediately. Have sufficient funds on hand to put a 10% refundable deposit down within 10 days, and to pay the balance within a month.

The dynamics are no less vibrant now, but decidedly different, in some exciting ways.

Hear it from Howler’s Expert Sources

Click on this page to go to the online articles.

Got any — or many — questions about real estate in Costa Rica? Or not quite sure what to ask about?

Look no further for everything that’s important to know about finding, buying, building, or selling a home in this wonderful country. Whether you’re thinking of moving here for good, or owning a place to enjoy vacations and generate rental income, we’ve got you covered from every angle.

Howler’s online collection of articles is extensive, offering expert perspectives on design and building topics as well as real estate, legal, financial, investment and property management issues. There are many titles here and we encourage you to spend time exploring and reading. Seldom does anyone regret making a well-informed real estate decision.

Thinking ahead

Moving to Costa Rica: Is it Right for You?

The Unplanned Wonders of Pura Vida: What to Really Expect Moving Your Family to Costa Rica

Only Fools Rush In: Financing a Life in Costa Rica

Costa Rica Your Way

Seven Things to Think About When Moving to Costa Rica Considering Relocating to Costa Rica?

Picking your place

Costa Rica Property Options: Finding Your Own Piece of Paradise

What Area of Costa Rica is Right for Me?

Picking Your Dream Property

What Makes it a Good Area to Invest in Costa Rica?

Location, location

Guanacaste Luxury Properties Attract Visitors and Luxury Home Buyers

Investing in Guanacaste: Look Ahead

Jacó Has it All: Booming Beach Town is Artistic, Fun and Family-Friendly

Jacó Area Remains Increasingly Popular

Playa Flamingo: The Jewel of the Gold Coast

Loco for Coco

Tamarindo Vibes: Reasons Not to Want it Any Other Way

Our Little Secret: Nosara

Playa Avellanas: Where Surfers, Foodies and Farmers

Unite

Slowing it Down in the Nandamajo Valley Real Estate Update for the Papagayo Region

Buying

Know Before You Buy: The Importance of of a Home Inspection

Is Your Builder Responsible?

Purchasing Pre-Construction Home Properties

Designing and building

From Dream to Reality: Design and Legal Process

From Dream to Design

Conserving Biodiversity by Design

Costa Rica Building Permit Process: Step by Step

When is a Good Time of Year to Build in Costa Rica? How Much Will it Cost? Some Building Budget Factors are Different Here

Anatomy of a Costa Rican Dream Home

Dream Home by Design: Your Sanctuary of Peace and Happiness

By Design: Sustainable, Attainable and Affordable Building Your Dream in a Greener World

“Bee” Kind to Insects: Eco-Friendly Fauna Protect or Flora

Building It Green and Proving It

Go Green:The New Added Value to Your Investment? Building Greener in Guanacaste

Water Availability: Why is it a Major Concern When Building?

Lighting Your Life: Artificial and Natural Have Their Place

Picking the Right Windows

Swimming Pools: Design, Construction and Maintenance

Storm Protection for Your Home

Roofing 101 Guanacaste Style

Guanacaste Tropical Hardwoods

Going With the Flow: Protection from Rain Runoff and Erosion

Solar Savings: Net Metering a Powerful Incentive

Autonomous Living in Costa Rica: Solar Solutions at Home and on the Road

Understanding Tico Plumbing

Septic Systems: What to Do With Waste Water

Built-In Safety by Design

DIY Micro-Hydro: An “Alternative” Alternative Energy Source

Real estate

Working With You, Coldwell Banker Costa Rica For Your Property Investment

If Selling or Buying Property In Costa Rica

What is the Procedure to Write an Offer and Close?

Are Real Estate Agents Licensed in Costa Rica?

Luxury Living Not Just a Possibility … a Reality

Summer is Not All That’s Hot in Costa Rica

Beyond the Lease: What You Really Need to Know About Long-Term Leases in Costa Rica

Investment

Build an Investment Portfolio: Costa Rica Real Estate FAQs

VAT Impact for Real Estate Investments

Adding Value to Real Estate Investments

Innovation and Creativity: Keys to Successful Investing

What Makes it a Good Area to Invest in Costa Rica?

What Kind of Real Estate Investor Are You?

How to Flip Properties in Costa Rica

Investing / Real Estate FAQs: Live Happy, Invest Wisely Become a Successful Costa Rica Real Estate Investor

Legal

Understanding the Costa Rica Real Estate Market

Considering Relocating to Costa Rica?

Buying Real Estate in Costa Rica: FAQs

Minding Your Money and Your Wellness in 2020

Agents tell their own stories

Escaping the Office to Pursue Your Dream — Richard Lacey

The Adventure Continues — Michael Mills

Never Looked Back — Joseph A. Emanuelli

Paradise Found — Crystal Townley

Passion for Travel Leads Here to Stay — Roland Tipper

French Canadian Real Estate Agent Welcomes You — Alain

Mouquet

Trading Paradises — Theo Veenstra

Costa Rica: It’s a Lifestyle — Lisa Farrell

Living Where the Air Doesn’t Hurt My Face — Will Matthews

Property management

Choosing a Legal Property Manager

Choosing a Property Management Company

More Than Just a Place to Stay: Ask What Else your

Vacation Rental Can Offer You

Rental Property Safety Tips

Vacation Home Renters are Not Just Guests: Be the Kind of Neighbor You Want Next Door at Home

Financial

Financing Your Property in Costa Rica: What are the Options?

How Are Property Closing Costs Calculated in Costa Rica?

How Do Escrow (Trust) Accounts Operate in Costa Rica?

Can I Make Money Renting My Property in Costa Rica?

Buying Real Estate in Costa Rica: The Basics Part 1

Buying Real Estate in Costa Rica: The Basics Part 2

Real Estate in Costa Rica

FAQs for Expats

Costa Rica's Real Estate Registration Information System

Joint Tenancy Property Title Registration

How Do Escrow (Trust) Accounts Operate in Costa Rica?

What are Squatters’ Rights in Costa Rica?

Water Availability: Why is it a Major Concern When Building?

Can a Foreigner Acquire a Beachfront Property Interest in Costa Rica?

How Are Property Closing Costs Calculated in Costa Rica?

Purchasing Pre-Construction Home Properties

Now Law: Digital Nomads Welcomed in Costa Rica

Digital Nomads Welcomed in Costa Rica

New Law Encourages Foreign Investment and Relocation: Economic Reactivation Goals

Options for Real Estate Subdivision in Costa Rica

New Capital Gains Tax in Costa Rica

VAT Changes Coming Soon for Rental Leases

Luxury Home Tax in Costa Rica

Is Your Builder Responsible?

Electronic Invoicing Mandatory for Property Rentals

Rental Properties: Taxes and Formal Duties

The Eviction Process in Costa Rica

Mandatory Registration of Rental Properties for NonTraditional Tourist Accommodation

Options for Real Estate Subdivision in Costa Rica

How is Condominium Living in Costa Rica?

HOA Law in Costa Rica

Purchasing a Condominium

HOA Meetings

Have You Dreamed of Moving to and Building in Costa Rica?

by Howler Staff

Plan properly so that you will not regret your decisions.

Many people have Costa Rica on their bucket list as a retirement place or a place to raise their families. It has also become a mecca for digital nomads to relocate. The proximity to North America, with a quick flight of maybe three hours is also very desirable.

Over the past couple of years, many families have moved here because of the good private schools and capabilities of working remotely.

This certainly can be a dream place to live. But it’s not easy, and proper due diligence is highly suggested. Plan properly so that you will not regret your decisions.

Some key questions to address:

• How do you make this a reality and do it right?

• Do I have enough money to sustain the lifestyle that I want?

• What area should we live in — beach or mountains?

• Are there good medical facilities nearby?

• Should I rent, buy an existing home or build?

• How do I pick a lawyer?

• How do I pick a builder?

• Should I get my residency or become a perpetual tourist?

These are just a few of the questions that address what you need to really think about and research well before making your move. Over the past number of years, the Howler has published many articles that will help guide you through the process.

Please make sure that you do it right and don’t regret your decision.

the Regions of Costa Rica

by Steve Love & Howler Staff

Based on Google data, Costa Rica ranks in the top five locations searched online by people from Canada, the United States and France looking to buy a second home. From the vibes of a bustling metropolitan city or laid-back neighboring suburb to the idyllic stretches of beach with tourism infrastructure or remote off-the-beaten path hideaways, there is something for everyone.

The variety of property types exists almost everywhere too: from apartments, townhomes and single-family detached houses to building lots and farmland, you’ll find plenty available for purchase or rent, to live in or to derive investment income.

If tourists find it challenging to stay long enough for a bucket list full of experiences during a single visit to Costa Rica, the choices for anyone planting roots and settling down here are virtually endless. It's possible for people of all types and ages — singles, couples, families and investors — to satisfy almost any preference in climate and lifestyle amenities.

Visiting different areas and collecting as much demographic and lifestyle information as you can is the only way to assess what best suits you. The only thing more important than doing this homework is knowing your own mind, desires and circumstances, including your wish list and limitations, in an honest and introspective way.

We’ve divided the country into eight basic areas to help you. Please keep in mind this is a high-level general overview of the main spots of the country that most foreigners are moving to.

Greater Metropolitan Area (GAM)

This expansive area includes the capital city of San José and covers varying locations throughout the Central Valley and Upper Central Valley. This area offers spectacular mountain landscapes — from volcanoes to the northeast and central cordillera to the southwest — and sweeping views of the urban metropolis.

The choices for anyone planting roots and settling down here are virtually endless.

A classic landscape view of the GAM region.

Central Valley

This region harbors Costa Rica’s major cities of San José, Escazu, Santa Ana, Heredia and Alajuela. More than three million people live in the Central Valley, accounting for at least 50 percent of the country’s total population. The location of Juan Santamaría International Airport in Alajuela is a convenience factor.

The north Pacific region of Costa Rica, also known as the Gold Coast, encompasses the popular destinations of Playas del Coco in the north and Tamarindo in the south, extending in each respective direction to Golfo Papagayo and Marbella Beach.

Guanacaste

There's no shortage of history throughout the Central Valley, as depicted by this

oxcart monument in Alejuela.

One of the most prestine beaches, Playa Conchal in Brasilito.

Nicoya Peninsula Communities in this region of the central and south Pacific coast are relatively remote from Costa Rica’s main airports — two or more hours away. Nonetheless, they have attracted a core group of expats seeking to live and invest in a less populated beach area.

Click here for more

Central Pacific

This region offers relatively close access from the Central Valley to beaches and other natural attractions. This proximity has contributed to its popularity as a place where many expats have chosen to live happily and invest wisely. There's something for everyone here: nature at its most captivating, along with surfing, fishing, dining and a vibrant nightlife all in one place.

One of many relaxing locations in Montezuma.

A sunset horseback ride in Jacó.

Osa Peninsula

This area is famous for being one of the most biodiverse concentrations of land area on the planet. Aside from the area’s remoteness, the heavy rains that generally persist four months of the year are a deterrent to many, but by no means all, foreigners. In fact, the Osa has a longestablished population of expats and Ticos sharing environmentally enthusiastic common ground.

Limón and the Caribbean coast

Costa Rica’s so-called “other side” has become more exciting with a promising future. Historically important as the country’s major industrial shipping port, but in a region beset by economic hardship over the years, Limón is poised for a rising tide of commercial growth with wide-reaching ripple effects. No business sector has been untouched by the 2019 opening of Limón’s new shipping mega-port facility.

Click here for more

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Even the wildlife, including white-faced capuchin monkeys, induce a sense of pura vida.

The marina at Port Limón.

This region never ceases to amaze when it comes to breathtaking landscapes and thrillseeking adventures. Arenal has a tourist-driven economy, especially the La Fortuna area’s abundance of adventure tour companies, restaurants, bars, resorts and shopping spots.

A biking tour around Arenal.

How to CHOOSE a Building Lot in Costa Rica

by Tres Amigos Realty

You fell in love with Costa Rica, and after looking at all the built homes in the area you decided that you want to buy a lot and build. If you haven’t built a house from scratch before, then this guide will be quite useful. Even If you have built a home in the past, this will help you avoid pitfalls particular to Costa Rica and keep you on the right track.

The basics

Before we go any further, we must assume that you have hired an experienced realtor who will ensure these basics are covered that apply to any lot purchase:

• The lot is titled or has a valid concession (the latter applies to most beachfront properties).

• There are legally verified utilities in place that will allow you to get a building permit: road, power, water, internet, cable, telephone and sewer (if applicable).

• The utilities are physically in place to the lot boundary.

• You have a general idea of the zoning for the lot.

• If it is inside a gated community, you should have a good sense of the architectural rules and regulations along with any additional zoning over and above what the local municipality requires as it relates to what you want to build.

Your realtor will know the answers to the majority of these questions, so you won’t waste time looking at lots that do not have the basics in place. When you get to the point of actually making an offer on a lot, then your attorney, with the guidance of your realtor, will verify these items 100% during the due diligence process.

Choosing the lot

Now comes the fun part of choosing a lot. The first item of business is to determine your overall budget between the lot purchase and house construction. The amount you have set aside for your project will determine how much you can spend on your lot and steer you in the general direction of what type of lot you will be looking at with your realtor.

If you want an ocean view lot in the Papagayo area (Playa Hermosa, Playas del Coco, Playa Panama or Ocotal), you will pay anywhere from $200,000 and up. Great ocean view lots inside higher-end developments are +$400,000. This may seem like a lot, but considering the spectacular views and proximity to the beach, services and international airport, it is on par with or below the cost in other comparable areas in the world. The Pacific coast of Costa Rica offers some of the most spectacular locales on the entire planet, with the views to match.

The ocean views might take your breath away, but it’s extremely important to take into account whether the lot needs additional site prep in order to make it buildable for the house you are dreaming about. It may be worth it to pay more for the lot if it means little or no site prep. Site prep can be a wild card in the equation that increases the cost of your project much more than you anticipate, and cause you to scale down the size of your house.

This brings up an extremely important point in the lot choosing process. When you are looking at lots and have narrowed down your favorite lots to a handful, then you should immediately involve a builder that your realtor has close ties with. The builder will be an invaluable resource for analyzing whether or not you can build what

you want on the lot you fell in love with. It can also tell you what potential site preparation costs are involved for each lot. This information can make or break your decision as to which lot comes out the winner.

Don’t get fooled by a lot that has a seemingly low price and spectacular ocean view without consulting your realtor and builder about the potential site prep or other issues that might elevate the cost of the lot before even beginning to build.

Involving a builder at this stage will also allow you to sit down with them and put together a rough estimate of the total cost of your project. First you will add any site prep costs to the lot purchase price and then come up with a ballpark amount to build the house that you want. If you have the basic idea of how many bedrooms and bathrooms, the pool size and other details of the house, then the builder will give you an eyeball cost to build.

Keep in mind that during the planning and design process, you may end up adding or subtracting things to the house that can affect the price. But for the initial budgeting exercise to determine whether or not it makes sense to buy the lot, having your eye on this rough estimate will be sufficient.

Don’t be afraid to walk away from a lot that seems like it will go over your budget by the time you do all the site work and home building. If a builder gives you a number that does not fit in your budget, then suffice it to say it won’t. In our experience, the costs normally don’t go lower than the initial rough budget, and instead tend to go up 10 to 20% based on bells and whistles you add or unforeseen circumstances that are encountered.

Click here for the rest of this "How To Choose..." and more informative resources.

What Makes It a Good Area to Invest?

by Fabricio Riggioni

As we have reinforced in past Investment Chat articles, the art of investing in real estate has two very important components:

1. The technical/financial research analysis.

2. Your choice of lifestyle if you are considering an “active” investment or something for long-term living.

Choosing real estate in Costa Rica in an area that fits both of these assessments at the highest level completes the first stage of achieving a well-balanced portfolio. The diverse characteristics distinguishing seven “hot zones” in this desirable investment hub is described in the article, Which Area of Costa Rica Is Right for Me?. It provides a general overview for each region of population and social idiosyncrasies, geography, climate and economic growth.

Taking into consideration these variables, three specific areas of major interest for investors are highlighted as follows.

GAM (Great Metropolitan Area)

This area of Costa Rica is currently experiencing an economic contraction for several reasons, including the rapid rise of interest rates, tax base expansion and increased prices for raw materials in different industries.

Overall, people are being more selective in their spending habits, which leads to economic contraction. The real estate market has changed, notably through increases in long-term rentals outpacing sales transactions. It's a great time for investors to take advantage of this situation and make solid real estate deals. As always, cash is king … more so in distressed circumstances. In addition, a healthy debt/ asset ratio will enable you to stay ahead of undesirable risk levels.

Meanwhile, bear in mind some of the unchanging reasons why Costa Rica’s GAM continues offering attractive real investment opportunities: vibrancy and diversity of urban lifestyle amenities, access to highquality health care and education at all levels and variety of property/housing styles and neighborhoods are just a few.

Guanacaste

Guanacaste’s Gold Coast region is currently considered the prime location for investing time, energy and money. Everything an investor needs is right here. Geographically, you will find some of the most highly sought-after and touristfriendly beaches in Central America. Viewing a sunset in Playa Grande will illustrate what I'm talking about.

Guanacaste is a melting pot of nationalities and ethnic groups, living and working together. Guanacastecos born after 1980 have grown up directly interacting with people from many different countries and cultures. Investment risk declines significantly when this type of racial and cultural diversity exists. The active labor force of Guanacaste is maturing and being trained on-the-spot, which means investors have access to a qualified, socially skilled and educated labor pool.

Guanacaste hasn't figured itself out yet. That leaves the door wide open to opportunities, not only for real estate investment but investment overall. Consider the services sector alone, for example, supporting the burgeoning tourism economy. This region’s potential is still relatively untapped. It is only now undergoing the early years of "true" growth. Construction of a new, large water supply to serve the northern Guanacaste area is a dynamic sign of things to come.

For real estate investors, a blank canvas awaits for painting a winning picture. If you are that type of person, now is the right time to move forward in the Guanacaste area.

Central Pacific Area

For much of the past decade, Costa Rica’s Central Pacific area has seen strong growth in residential construction projects. This is reflected not only in the number of projects but also their target market. There are solid opportunities for early-stage investors with limited capital, as well as more experienced investors. We foresee steady growth in this area of the country. Expats and nationals alike are looking at the Central Pacific again as a safe place to invest.

Needless to say, the real estate possibilities here are unlike almost anywhere else, from laidback beachside locales to tranquil forest settings. Investors can choose from a wide range of large and small property options, including protected rental income opportunities.

For more information about our real estate take on these or other regions of Costa Rica, or any kind of investment advice, please contact us.

For real estate investors, a blank canvas awaits for painting a winning picture.

Some Building Budget Factors are Different Here

How Much Will it Cost?

How much will it cost? As anyone who has ever budgeted for building a new home will likely attest, “it all depends.”

Ballpark estimates typically reflect our priorities in terms of size, design components, materials and resale value, as well as location and site logistics. Finishing touches may tip the end-product classification scale in the range of barebones basic, North American standard or luxury. At least this is how it generally works in developed countries, and to some extent universally. But in some parts of the world, the budgeting concept of “ballpark” is relatively meaningless.

Costa Rica is not like other places many of us are familiar with. Especially at the onset of undertaking to build a new home here from scratch, answers to a broader range of budgeting questions must be sought from a wider range of sources. Asking around can be helpful, but also mind-boggling.

Some of the same geographic attributes that make Costa Rica such an appealing place to live have a significant bearing on construction costs. Only in the most general terms, for the most basic new home construction styles and finishes, might we venture to say the average cost per square foot ranges from $100 in accessible locations and more at higher elevations and otherwise more challenging locations.

by Tatiana Vandruff

As would be the case anywhere, you could save lots of money building a new home in Costa Rica with your own bare hands. But let’s assume you came here eager to settle into your new digs and kick your feet up as soon as possible. Sweat equity wasn’t supposed to be part of the deal, which is why you need to budget carefully for leaving it up to the building experts.

The following are key variables affecting your building budget. Particularly in the first three instances, keep in mind there are significant geographical differences between regions. For example, Guanacaste is different from the Central Valley, Central Pacific and other regions in terms of climate and terrain. Each region has its own building challenges.

Climate

The influence of climate on many aspects of your new home plan and design should not be underestimated as budgeting factors. Building site position and facing direction should take into account exposure to humidity, or wind or salinity.

Accessibility of Location

Site accessibility logistics have a significant impact on the costs for transportation and delivery of materials, goods and heavy equipment when needed.

Site Topography

Building site considerations are very important to your bottom line costs. These include specific site topography, soil quality and stability characteristics affecting foundation design, usable area dimensions, land slopes and scenic views.

Specifications

Keep in mind that finishing details work both ways in your building budget: they can not only increase the price tag but also reduce it. Comparing basic construction costs among most builders is relatively easy. But when you factor in specific finishes and components, along with quantity, quality, availability and proper installation techniques, plus transporting specific materials, these are powerful cost triggers.

Finishing details work both ways in your building budget: they can not only increase the price tag but also reduce it.

Design

Due diligence to ensure your new home is designed properly, with architectural plans bearing accurate information, will translate to more cost-effective builder estimates. The closer these are to your budget, the better you can manage your investment without costly derails. Poorly planned dwellings inevitably create cost overruns. Do your research to avoid engaging with an architect or engineer who might overlook the abovementioned kinds of climate, site, location and specification factors. Being mindful of the challenges and cost implications in advance is your best protection from unpleasant surprises.

money ball for the rest of the story:

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Living Where the Air Doesn’t Hurt My Face

Sponsored Content

Welcome everyone! Whether you are here in Costa Rica on vacation, searching for a home or living here full time, you’ve had an opportunity to witness the beauty, warmth and friendliness of this amazing jewel of a country.

I’ll take a few minutes to tell you about myself and how I arrived here in Costa Rica, and why I love my work with Tres Amigos Realty Group.

My search

I had been searching for a tropical place to relocate from Canada, after having endured too many long, cold winters. It’s interesting what can spur you to action in life; I still remember seeing a cartoon where the character asked, “Why do I live where the air hurts my face?” I realized I had often asked myself the same question.

At that point I knew I wanted and needed to be away from the cold for good. After taking two years to research and plan my arrival in Costa Rica, I was immediately captivated by the country as soon as I walked off the plane in 2014. As with many of my colleagues and friends here in the area, it was love at first sight for me. I knew that I had found my home.

Pacifico Lot 135 Villa Toscana Courtesy of Tres Amigos Realty Group

It’s been an adventure!

At that time, I was in the middle of a 12-year career as a professional musician and special events producer.

I got to know Guanacaste and the entire Pacific coast of Costa Rica very well through playing music engagements in resorts, hotels and festivals, and organizing special events in the area.

Before arriving here, I had never thought I’d be driving through rivers and jungles to go from place to place, playing music barefoot for a wedding on the beach, or sitting in a hot thermal river looking up at a towering volcano. Even in my wildest dreams I hadn’t thought I would get to witness newly hatched sea turtles racing for the ocean or humpback whales breaching in Papagayo Bay. Living here has changed my life and I now enjoy helping others live their adventure and make that change.

Professionalism is key

I’ve been working in real estate and property management here in Guanacaste for the past five years. I am certified with the Costa Rica Global Association of REALTORS (CRGAR) and a member of that organization.

Prior to my music career, I graduated in 2000 with an MBA specializing in marketing and sales. I was invited to teach at the university I graduated from for three years and enjoyed that experience, but discovered that academics was not my passion. I owned my own small business for a few years and also worked as a sales manager for a large Canadian company before turning my attention to music and events management,and traveling here to paradise.

I enjoy meeting new clients and offering the knowledge and expertise that I’ve developed over the last eight years of living and working in the area. I’ve sold both residential and commercial properties, and I can also offer my educated and informed opinions about investing here, opening a small business and obtaining residency. I understand the complexities of the local real estate market and doing business in Costa Rica.

After eight years living full-time in Guanacaste I’ve developed a great network of professionals. They are ready to help you with anything you need here, from jet ski rentals to contractors, lawyers and everything in between.

Living the dream is no cliché

Sometimes my life does resemble a Jimmy Buffet song, there is no doubt. When I'm not with clients, I love to cook, learn about red wine, compose music, go out on the ocean and explore this beautiful country. READ MORE:

Living here has changed my life and I now enjoy helping others live their adventure and make that change.

Dream Home By Design: Your Sanctuary of Peace and Happiness

by Tatiana Vandruff

So you have seen enough of Costa Rica to get a sense of the pura vida vibe in a variety of beautiful locations. You’ve got a feel for places with the best promise of delivering peace and happiness on your own terms, in your own little piece of paradise. And after narrowing down the short list of exactly where it’s going to be, you’ve finally picked your perfect spot.

Nonetheless, carefully selecting the design of your new home will be crucial. You’ll want to include ample social gathering areas, plus allow flexibility within areas that can provide access to the beautiful outdoors.

We’ve prepared a simple list that may be able to guide you in your search. They are based on what I consider the basics of Costa Rican lifestyle: respect for family, friends and community, respect for nature and respect for the time for a cup of coffee.

Creating

1. Include access to communication. Make sure you have connectivity, meaning good electrical outlet locations and internet access. Just because you are here does not mean you disconnect from your loved ones. It is a very common mistake not to review with your architect the electrical plans for your new home.

2. Include proper orientation and positioning.

To truly capture your home’s maximum potential, it is imperative to analyze its positioning, whether it’s an existing home or one you want to build. Explore this very important aspect with your real estate agent and/or architect to make sure you have the right amount of sun exposure, that you have the best possible views and there is good natural cross-ventilation.

spaces that allow the enjoyment of the outdoors

Design:

3. Include outdoor areas. Creating spaces that allow the enjoyment of the outdoors is essential. Design some roofed areas with the option of screening or enclosing them to keep bugs out without losing contact with nature. Air conditioning can be an important amenity in warmer climates, but make sure you install an energy-efficient system.

4. Include shaded areas. You may have lovely outdoor spaces, but they do not provide shade at the times when you would like to use them most, as in case of western terraces that face the sunset. Creating shaded areas is vital for the enjoyment of outdoor spaces.

5. Include sensible gardens. Some areas receive lots of rainfall, allowing an abundance of tropical plants to grow with little effort on your part. In other areas, your gardens will need water and maintenance. With existing homes, ask how plants are irrigated, and if in a drought-awareness zone make sure a drip irrigation system is installed. If building new, your architect should be able to guide you in this very important aspect of your new surroundings.

6. And, yes, include coffee. Costa Rica’s coffee is considered some of the best on the planet, and you should consider planning for a special place in your home to enjoy a cup. Look for a special place with a view of mountains, a garden or the ocean.

As a caveat, building can be challenging if not done with the proper team. It is vital to do your homework and find the right real estate agent, architect and builders who are aware of the sustainability parameters so that your energy/ water efficiency and design are appropriate and sensible to the local conditions of your future piece of paradise. outdoors is essential.

Click

ColdwellBankerCostaRica.com

With over 8 million annual page views on our local Costa Rica network websites and over 20 Million views on our Coldwell Banker Global affiliate sites, you can rest assured that your property will receive the exposure it deserves.

When it comes to property exposure, noone does it better than us.

Building Your Dream in a Greener World

As one of the world’s most widely recognized green-building certification programs, Leadership in Energy and Environmental Design (LEED) offers multiple assurances of satisfaction. Notwithstanding the eco-conscious motivations for building green, there are also long-term cost benefits related to energy efficiency, water use reduction, reduced greenhouse gas emissions, lower maintenance costs, and higher real estate value.

Whatever you might envision for a dream property in Costa Rica, LEED-certified Grupo Pacifico strives to design and build better. Four specific project examples are as follows.

Jaguar Village

Wake up to prime ocean views of the most luxurious Guanacaste bays. The newly constructed units at Jaguar Village offer an impressive return on investment. Climatefriendly features include natural crossventilation for reduced air conditioning consumption, dual-pane windows and fully insulated walls and roof. The drip-irrigation system for landscaping provides a lush green environment through the driest months of the year.

Vistas del Pacifico

Cool off in Vistas del Pacifico’s awardwinning pool, built with LEED-applied concepts for energy efficiency, water use reduction and lower maintenance. Incorporating a lap lane, built-in swim-up bar, waterfall, island and multiple entertainment areas, it is the ideal centerpiece for weddings, receptions, parties and other special events.

Casa Costa Blanca

Let nature and luxury come together at Casa Costa Blanca's outdoor entertaining area while enjoying the sunset, steps away from the beach Grupo Pacifico considered every detail and sustainable practice in this extensive redesign of an outdoor ocean viewing space. All materials were chosen with sustainability in mind: recycled plastic covering thatch for the beautiful palapa, hard surfaces composed of locally mined and manufactured materials, and wood recovered from fire debris.

The best of both worlds is achieved through sustainable building and quality-oflife attributes. Villa Mot-Mot units feature an open plan living room, dining room, and open terrace to enjoy the ocean view. The pristine, stylishly designed chef's kitchen makes gourmet dining at home a pleasure. Every detail, from construction materials to placement, was carefully planned to create a sense of ease and desired energy in the space.

Villa Mot-Mot

There are also long-term cost benefits.

What is the Procedure to Write an Offer and Close?

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Purchasing a property in Costa Rica is about as easy as it can get. Under Costa Rican law a foreigner has the same rights as a citizen, and can own property outright — fully titled, fee simple, just like in the USA or Canada.

The majority of the property in Costa Rica is titled. The only exception is some of the beachfront property, which is called “concession” and is similar to a lease. I discuss this in another blog. You can own a property using the same vehicles as in North America.

You can own property in your personal name or put it into a Costa Rican corporation that you form. You can also use a trust or a foundation, a self-directed IRA or a non-profit organization. And you can will it to your children or your heirs. All of these ownership options can be easily set up by a reputable Costa Rican law firm.

Unlike in North America, our offers to purchase property are very simple and straightforward. Most of the time, they are three or four pages long. None of these offers are 20-page documents like when you buy a house in the USA. They are more like term sheets than long, formal offers.

The first page generally details the owner’s information, the seller’s information, the property information and the purchase price. Page 2 is your due diligence page, with contingencies, closing date, fees, arbitration clauses and items included or excluded in the sale. The last page is the signature page.

A faxed or scanned offer is a legal document in Costa Rica, so you don’t have to be here to sign the original. We can send you the offer by email after you get home and you can sign it and send it back once all your questions are satisfied. We are not here to pressure you to buy.

Take time

This is a big decision and we want to give you all the time necessary to make sure this is exactly what you want to do. Go home, talk it over, check your finances and then write the offer. Don’t let anyone tell you that you have to buy this now. We have always been a firm believer that if it is meant to happen, it will.

Relax

Upon acceptance of an offer, a secure escrow account is set up with a company that is registered with the banking authority of Costa Rica, known as SUGEF. They will act as a third party to ensure that everyone is protected during the closing. Do not allow a law firm or a real estate company to accept or handle your money. Always ask for a separate, secured, registered escrow.

A deposit of 5% to 10% of the purchase price is placed in the escrow account as good faith. This deposit is normally completely refundable during the due diligence (DD) process. The DD period usually lasts anywhere from 14 to 21 days, giving your attorney time to confirm that everything is OK with the property. This will include a full title search in the National Registry, confirming that the property is free and clear of all mortgages, annotations, liens and encumbrances. Your attorney will also make sure that all municipal, national and corporate taxes are paid up to the date of the closing, and that any homeowners fees and all utilities and service contracts are also current at time of closing. The lawyer will also send you the estimated acquisition costs so you know exactly what the closing costs will be.

During the DD period, we can also order a home inspection if you so choose, and any land surveys or engineering work. In addition, you can get quotes for construction, renovations, repairs, landscaping or furniture / interior decorating. There are many qualified professionals here in the area to assist you with these matters.

We are not here to pressure you to buy.

IF SELLING OR BUYING PROPERTY IN COSTA RICA

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We look forward to introducing buyers to all Costa Rica has to offer.

We look forward to professionally representing sellers desiring to successfully sell their Costa Rican properties.

Whether you’re selling or buying property in Costa Rica, it’s important to select a real estate company and associate who will best represent you.

Coldwell Banker Coast to Coast Properties, Northwest Pacific in Guanacaste has been successfully operating for more than 21 years. The company is the only renowned brand actively operating in the beach communities of Coco, Hermosa, Ocotal and Panama.

The Coldwell Banker Coco office is part of a strong network within the Coldwell Banker Costa Rica master franchise, offering over 10 offices throughout Costa Rica, available to serve both buyers and sellers.

The owner/broker, Linda Gray, has over 21 years of real estate experience in Costa Rica. Previously, she was a broker and assistant manager for a Coldwell Banker office in Laguna Beach, California. In 2000, Linda was the founding director of the Costa Rica Global Association of Realtors. She requires her agents to attend legal and marketing training classes through the Coldwell Banker training sites and a local notary/attorney.

Sellers

Consider listing your Costa Rica property with our company/associates.

We are happy to provide you with a market evaluation, reflecting current and past market conditions.

Additionally, we will research your property in the Costa Rica Public Registry and send you a summary report. We will acquire a summary of your corporation showing who the legal representatives are.

We will qualify buyers and make sure they are aware of all regulations regarding transferring funds into Costa Rica, related documents required by escrow, so issues don’t develop in the process.

Having access to a number of service providers (notaries, attorneys, escrow companies, lenders) assists buyers and supports the finalization of a successful escrow.

Widespread marketing is an important component of promoting properties. All properties located on any of our 10+ Coldwell Banker Costa Rica websites will be published on all office websites, the main Costa Rica site and the U.S. and international sites, as well as syndicated connections.

Buyers

Our company and associates have access to all properties available for sale through multiple MLS and Coldwell Banker Costa Rica networks. We present buyers with all properties available for sale that meet their property criteria, not just our listings. A buyer’s criteria/needs are important for us to acquire and respond to. We acknowledge that each buyer has unique criteria.

We will guide our buyers to all services needed relating to a property purchase, and provide them with detailed information about the processes involved.

The Coldwell Banker brand has been active in 55 countries worldwide. A long-term history since 1906 with professional associates devoted to providing premium services continues to attract both buyers and sellers.

Widespread marketing is an important component of promoting properties.

Find Your Costa Rica Dream Home Today With The Team at Coldwell Banker CR

Do you like watching waves crash from the hammock in your backyard or terrace? Do you enjoy walking out your back door to take a jog on a quiet, exotic beach?

Costa Rica real estate features some of the most beautiful and affordable beachfront properties on the planet.

Finding the property of your dreams is closer than you think in this incredible location with the team at Coldwell Banker Costa Rica. We feature the largest selection of inventory in the premier locations of Costa Rica.

Our extensive inventory and expert team ensures you’re searching for the most qualified properties on the market without paying more than market value. Our brokers have decades of experience working and living in the local market, and can help you every step of the process in buying your dream property.

Coldwell Banker Costa Rica features the most advanced online technology for searching properties. It’s like using a real estate MLS in Costa Rica with a name you’ve known and trusted for years.

Costa Rica does not have many of the same legal protections in place for real estate buyers and sellers, making it crucial to work with a qualified and honest broker who will tell it like it is.

Conserving Biodiversity by Design

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Vargas Vargas Arquitectos is a studio that investigates and identifies the natural landscape of each building site when designing and planning architectural, landscape and urban proposals. These reflect biological and ecological principles that conserve, restore and rehabilitate the natural landscape.

The main objective is to increase the viability and ecological integrity of biodiversity by contributing to maintained or increased representativeness of the biological diversity. A related goal is to significantly reduce the loss, degradation and fragmentation of natural habitats. committed to innovative actions

Condo for Sale in the Quaint town of Matapalo, Guanacaste

Perfect for Retirement, Families, or Rental Investment

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Both condos are modern, with three bedrooms and three bathrooms, located close to seven of Costa Rica's most beautiful beaches. They offer 1,150 square feet of air-conditioned space, plus a back porch, private rear garden, parking pad for two cars, and a paved roadway in a safe, friendly gated community.

The HOA fee is a low $175 per month with excellent property management and good reserve funds.

The open floor plan offers a spacious feel. The bedrooms have built-in closets and ceiling fans. The kitchen is equipped with a stainless steel stove and fridge, and a white washer/dryer unit. Countertops in the kitchen and bathrooms are all granite. There are ceramic tile floors throughout and screen doors on the front and back doors. These condos come fully furnished with everything you need to move right in.

The rancho and community pool are great for outdoor entertaining and a cool swim. The condos are located in Matapalo, a quaint Costa Rican town with convenience stores, where you will hear and see howler monkeys, birds, and iguanas.

It is a short drive to quality 24/7 medical care, several restaurants, and shops.

Playa Grande (famous for surfing) is minutes away! Conchal Beach is 10 minutes the other way. Even the Liberia international airport is only a 50-minute drive.

Email for further information or to schedule a showing. Headmonkey@ howlermag.com or WhatsApp:

+506-8995-5497

These condos come fully furnished with everything you need to move right in.

Home for Sale in Matapalo, Guanacaste

This

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High-quality construction and design in a quiet secluded area — it’s all yours, within an easy 10-minute drive to the area’s beaches, and just 20 minutes from the popular communities of Tamarindo and Flamingo.

Special spaces throughout

This classic Spanish hacienda-style house optimizes all its tropical living space, inside and out: 125 square meters under interior roof, expansive front and back patios measuring 55 square meters with a two-vehicle carport. This is all situated on a 1,645 square-meter, treecovered lot in a small, off-the-beaten-path subdivision of quality homes.

home offers the best of both worlds — privacy and convenience.

The three-bedroom floor plan incorporates two bedrooms / common bathroom and a master bedroom / bathroom. The open great room features exposed beams and high vaulted ceilings encompassing the spacious kitchen, dining and entertainment areas. The covered patios bring the tropics to your doorstep.

Ready and waiting to live in

As a turnkey property, “Casa Escondite” is completely ready to live in or rent out. The home is tastefully finished and fully furnished with all necessities.

Highly desirable location

This home for sale in Matapalo, Guanacaste, Costa Rica, offers the best of both worlds — privacy and convenience. With no through-traffic at this dead-end, low-traffic gravel road, the only noise is that of monkeys and birds.

The house is located just 450 meters off the main road and two minutes either way to the small towns of Matapalo or Huacas for shopping convenience. The drive to Playa Grande or the south end of Playa Conchal takes just over 10 minutes. Tamarindo and Flamingo are both a 20-minute drive.

The subdivision: Pase de Terras

Pase de Terras is a residential oasis with a sense of remoteness. The landscape configuration of buildings and trees ensures adequate shade and breeze for reduced reliance on air conditioning, as well as protection from the strong north winds and dust during the dry season.

For more information

Contact: headmonkey@howlermag.com or WhatsApp +506-8995-5497 to schedule a showing. Brokers welcome.

What is the Property Purchasing Process in Costa

by Rick Philps

Many of you reading this will have purchased a property in other jurisdictions previously, particularly in Canada or the United States. The general flow of the property purchasing process in Costa Rica is very similar to that in these other jurisdictions, but the considerations are very different.

The flow

The general flow of the purchasing process in Costa Rica involves:

• Locating a property.

• Gathering preliminary information to make an offer.

• Having a lawyer draft the interim property purchase agreement.

• Placing a deposit — customarily 10% of the purchase price — in escrow with an escrow company.

• Carrying out the legal due diligence to satisfy the stipulated conditions contained in the agreement.

• Confirming that the agreement is accepted.

• Proceeding to the closing on the agreed-upon closing date.

The considerations

Since there is no regulation of the real estate industry in Costa Rica, it is very important to select a realtor who has good local knowledge of the area where you wish to purchase a property.

No formal MLS exists in Costa Rica. Accordingly, the only manner of assurance that you have been presented with the various property purchase options in an area is your realtor’s personal knowledge of existing sale properties.

Another key consideration is to select a real estate lawyer for the closing who is knowledgeable in the areas of legal

Costa Rica?

due diligence to be completed in the property purchase. It’s important for the purchaser’s lawyer to review the realtor’s offer to be presented to the seller before it is signed.

The legal due diligence considerations undertaken will vary significantly between purchasing an existing fully constructed property and that of a building lot for future construction. These differences are discussed in a separate blog that I have written.

One significant difference in Costa Rica is the treatment of the closing costs. They are negotiable as a payment between the seller and purchaser, and should be addressed in the initial offer presented. Closing costs routinely approximate 4% of the property purchase price, and are comprised of the notary fees, value added tax (VAT) on the notary fees, property transfer tax, National Registry fees and escrow fees.

A Costa Rica notary public, who also must be a qualified lawyer, will attend the closing and be responsible for drafting the property title transfer deed, and its execution by the seller and the purchaser on the closing date.

In Costa Rica, the amount of oversight by various government agencies for those matters of legal due diligence is considerably less than in many foreign jurisdictions such as Canada and the U.S.

The ability to acquire the necessary information to satisfy due diligence conditions is also not as readily available. This can result in a request by the purchaser for an extension of the time limits to satisfy the due diligence conditions. The burden of conducting this due diligence falls entirely to purchasers and the lawyer that they select to represent them. The lawyer must carry it out in the correct manner for buyers to reach an informed decision on whether to proceed with the property purchase. In Costa Rica, there are no title insurance companies that carry out this due diligence process.

My opinion

For foreigners making a first-time property purchase in Costa Rica, it is very important that they select the correct professionals to represent their interests on an independent basis. Purchasers should always select a lawyer to represent them, who is acting independently of the seller’s interests in all respects.

For more information and answers to your questions on diverse legal topics, visit Costa Rica Canada Law: www. costaricacanadalaw.com

It is very important to select a realtor who has good local knowledge of the area.

Buying Real Estate In Costa Rica: FAQs

by Ivan Granados

Real estate is one of the topics that we get asked the most questions about. The real estate market in Costa Rica is very robust. Buyers and sellers alike need to be aware of the country’s regulations and laws. This article will answer some of the most frequently asked questions.

We always encourage anyone selling or buying property to retain an attorney with experience or expertise in real estate. It’s important to coordinate a meeting (virtual or in person) to discuss in detail all the aspects and relevant matters.

In my home country, we go through a due diligence process when buying real estate. Is that required in Costa Rica?

Yes, before any purchase, due diligence may be performed by the buyers’ attorney, checking that all the paperwork of the property is in order. It should also ensure that there are no outstanding charges or taxes and there are no encumbrances or liens on the property.

During the due diligence period, the buyers and buyers’ attorney shall have the right — but not the obligation — to perform a complete study of the property. That includes, but is not limited to: physical, title and survey, confirmation of no adverse possession, survey plan, boundaries and other documents.

Do I need to be a Costa Rica resident to own real estate?

No, it is not required by law to be a Costa Rica resident to own real estate in Costa Rica (concession land is an exception). However, many expats do make the choice to do so.

To apply for residency in Costa Rica, the Costa Rican government requires applicants to provide proof of financial stability in one of three ways:

1. As a retiree with pension: Certification that the applicant receives a lifetime pension of at least $1,000 USD per month.

2. As an investor: Must demonstrate a real estate investment in Costa Rica with a value of at least $150,000 USD per recent law #9996, which reduced the amount from $200,000.

3. As the holder of a fixed annuity: Certification that the applicant receives a guaranteed annuity of $2,500 USD, per month, for at least two years.

Other requirements are to provide a birth certificate, police records from the home country and marriage certificate (if applicable) — all duly apostilled or legalized by the Costa Rican consulate in the country of issuance of the certifications.

What taxes am I required to pay?

The primary taxes are:

Property taxes are 0.25% of the purchase price or registered value, whichever is greater. They can be paid a year in advance or quarterly to the municipality where the property is registered. The garbage collection fee is USD $200 per year. Due date for the 1st quarter: March 31 of each year.

2. Home luxury tax

The home luxury tax only applies to houses, condos or apartments with a construction value exceeding a certain amount. This amount is adjusted each year, and is currently 137.000.000,00 in 2022, or USD $240,000. Due date: January 15 each year.

Those liable for this tax shall fill out the form called Formulario Único de Inscripción, Declaración y Pago Impuesto Solidario para el Fortalecimiento de Programas de Vivienda, Law #8683, every three years and pay the tax annually. The next assessment shall be made and submitted in 2025.

3. Annual corporate tax

Payment of an annual corporate tax is required under Law 9428: Tax over legal entities. A fixed fee is payable for inactive corporations and a progressive rate for active corporations, depending on their gross income. The amounts range from USD $120 for inactive corporations to up to USD $380 for active corporations. The amounts are adjusted each year. The due date for this tax is January 31 each year.

4. Capital gains tax

Law 9635 created a capital gains tax of 15%, which applies to all investment income and real estate.

A capital gain arises from the difference between the value of an asset at the time of purchase and the asset’s value at the time of sale. If there is a gain (positive value), this amount is subject to a 15% tax.

1. Real estate tax and garbage collection fee

Property taxes are 0.25% of the purchase price or registered value, whichever is greater.