Discovering the attractiveness of free trade zones in Costa Rica
Free trade zones in Costa Rica represent an exciting and prosperous facet of the country's economy, but what exactly are these zones and how do they influence the real estate market? Join us as we explore this business universe that significantly impacts many people in different parts of the country.
Why consider buying a home near a free trade zone?
If you are looking for a property, it is crucial to know the free zones in Costa Rica, because these areas are not only economic epicenters, but also engines of development that could positively influence your purchase decision. Perhaps you have heard the word 'capital gain', that is, the value that a property can accumulate over the years because the area has a positive projected growth. You could buy an apartment for $100,000 in 2023 and sell it for $200,000 in 2025. This is happening in many areas of Costa Rica due to varying factors. Grecia is an area that now has projected appreciation.
What are free zones and how do they impact property purchases?
Free trade zones are regions designated by the government to attract foreign companies with tax and tariff benefits. For example, in Costa Rica, companies established in these zones can enjoy an income tax exemption for the first 8 years of operations, followed by a reduced rate of 50% for the next 4 years. In addition, there is an exemption from profit tax, export tax and import duties on equipment imports, resulting in considerable savings for companies.
This attraction of foreign direct investment in these areas not only boosts the national economy, but also has a palpable impact on job creation and local development. Proximity to these economic centers can influence your choice of home because of their direct impact on the local economy and quality of life.
How many free trade zones are there in Costa Rica and how do they benefit you?
In Costa Rica, there are several free trade zones, each with its own attraction. There are currently 41 free trade zones that house 375 companies generating 115,161 direct jobs and almost 57,441 indirect jobs (2020 data). These areas not only generate employment but also attract foreign investment, which translates into a prosperous work environment and, therefore, a greater demand for housing and nearby commercial areas.
What types of companies are established in these areas and how does it affect you?
Companies in free trade zones span diverse sectors such as manufacturing, technology and services. From companies that manufacture specific devices for cardiovascular health, to companies that specialize in medical imaging devices, the health industry depends on everything that is being created in these parks. In a free trade zone, there are all types of manufacturing companies, but the technology and service areas are also present. This diverse range of industries not only creates job opportunities but also enriches the supply of services and amenities in nearby residential areas.
How do free zones benefit the population and how does it impact your choice of housing?
Job creation, infrastructure development and improved quality of life are aspects that these areas bring to the surrounding communities. This translates into a sustained demand for nearby properties, thus guaranteeing the appreciation of your investment over time.
Why should you consider buying a home near free trade zones?
Proximity to free trade zones offers a strategic advantage. Not only does it mean labor proximity for potential jobs, but also access to services, sustained economic growth and a diverse business network that can further your personal and professional interests.
Why invest in these areas of the country and how does it impact your future?
Investing in properties near free trade zones not only means being part of a growing real estate market, but also being part of an environment that promises economic and social stability, which translates into an environment conducive to the growth and security of your investment.
Conclusion
Free trade zones in Costa Rica are not only economic engines, but also key elements to consider when buying a home. Their influence on quality of life, job opportunities and property values make them a factor to consider when looking for your next home. Condominio El Canal continues to grow. We offer comfortable apartments and homes with a view, as well as a healthy lifestyle surrounded by greenery. With over 60% of the project dedicated to trails, gardens and parks, you'll feel calm, at peace. It's a great place for families, as an investment, or for retirees.
